# Market neutral ETFs against the S&P 500

> 4 market neutral ETFs measured by how closely each moved with the S&P 500 and what each did in the weeks it fell, over the year to Nov 4, 2026.

Data as of Nov 4, 2026. Rebuilt every trading night.

Rebuilt every trading night. Data as of Nov 4, 2026 .

## Market neutral ETFs, against the S&P 500

See how market neutral funds move against the S&P 500. Owns stocks it expects to do well and sells short about as much in stocks it expects to lag. 4 funds. Updated Nov 4, 2026.

### Browse by strategy

| Ticker | Fund | Issuer | Strategy | Correlation | Net assets | Net assets as of | Fee | Total return 1M | Total return 3M | Total return YTD | Total return 1Y | Total return 3Y | Total return since launch | Beta | Down-week capture, % | Against T-bills, pts | Stock Diversification Score |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| BTAL | AGF U.S. Market Neutral Anti-Beta Fund | AGF Investments | Market neutral | −0.74 | $283m | Jun 30, 2026 | 1.25% | +9.8% | +10.1% | −9.1% | −11.5% | −28.9% | −38.0% | −1.37 | −168.4 | −13.7 | |
| MKTN | Federated Hermes MDT Market Neutral ETF | Federated Hermes | Market neutral | −0.06 | $107m | Jun 30, 2026 | 1.94% | +3.1% | +5.3% | +12.6% | +16.4% | not available | +16.6% since Sep 2025 | −0.03 | −43.2 | +12.6 | |

Stock Diversification Score is the last column. It ranks each fund within its own set: 22 equity hedged alternatives ETFs with a full year (4.5 to 95.5) and 17 systematic trend alternatives ETFs with a full year (2.9 to 94.2). Ranked by it · How it is computed

### Less than a year of prices

Correlation, beta and down-week capture need a year of weekly returns, so these funds are listed with what they have returned since they first traded, against the S&P 500 over the same days.

| Ticker | Fund | Issuer | Strategy | Net assets | Net assets as of | Fee | Total return 1M | Total return 3M | Total return YTD | Total return 1Y | Total return 3Y | Total return since launch | First traded | S&P 500 since |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NTRL | First Trust Equity Market Neutral ETF | First Trust | Market neutral | $16m | Nov 3, 2026 | 0.95% | +1.1% | −0.3% | not available | not available | not available | not available | | not published |
| RNMN | RiverNorth Market Neutral ETF | TrueShares | Market neutral | $7.1m | Jun 30, 2026 | 0.59% | +0.2% | −0.2% | not available | not available | not available | not available | | not published |

### Where to next

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, Market neutral ETFs against the S&P 500, data as of Nov 4, 2026. https://etfiq.com/alternatives/market-neutral/
Licence: https://etfiq.com/license/ Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
HTML: https://etfiq.com/alternatives/market-neutral/