{"url":"https://etfiq.com/compare/alternatives/hfeq-vs-lseq","section":"compare","title":"HFEQ vs LSEQ: Correlation to the S&P 500 | ETFIQ","description":"HFEQ and LSEQ both run long-short equity strategies. Over the year to Nov 5, 2026, HFEQ had a correlation of +0.83 with the S&P 500 and LSEQ +0.08.","as_of":"Nov 5, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, HFEQ or LSEQ?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Nov 5, 2026, HFEQ\u2019s weekly returns had a correlation of +0.83 with the S&P 500 and LSEQ\u2019s +0.08, so LSEQ moved less with the index."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, HFEQ or LSEQ?","acceptedAnswer":{"@type":"Answer","text":"In the 20 weeks the S&P 500 fell, by 1.61% a week on average, HFEQ averaged \u22122.19% and LSEQ \u22120.06%, so LSEQ returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, HFEQ or LSEQ?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, HFEQ finished 3.4 percentage points ahead of cash and LSEQ finished 20.3 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills."}},{"@type":"Question","name":"Which is cheaper, HFEQ or LSEQ?","acceptedAnswer":{"@type":"Answer","text":"HFEQ charges 0.96% a year and LSEQ charges 2.28%, so HFEQ is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Alternatives ETFs","item":"https://etfiq.com/alternatives/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"HFEQ vs LSEQ","item":"https://etfiq.com/compare/alternatives/hfeq-vs-lseq"}]},{"@type":"WebPage","name":"HFEQ vs LSEQ: Correlation to the S&P 500","description":"HFEQ and LSEQ both run long-short equity strategies. Over the year to Nov 5, 2026, HFEQ had a correlation of +0.83 with the S&P 500 and LSEQ +0.08.","url":"https://etfiq.com/compare/alternatives/hfeq-vs-lseq","dateModified":"2026-11-05","abstract":"Over the year to Nov 5, 2026, LSEQ moved less with the S&P 500 than HFEQ: correlation +0.08 against +0.83.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of HFEQ and LSEQ","description":"HFEQ and LSEQ both run long-short equity strategies. Over the year to Nov 5, 2026, HFEQ had a correlation of +0.83 with the S&P 500 and LSEQ +0.08.","dateModified":"2026-11-05","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/hfeq-vs-lseq","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/alternatives.json"}],"variableMeasured":["Correlation with the S&P 500","Beta to the S&P 500","Down-week capture","Average week when the S&P 500 fell","Return against T-bills","Total return","Strategy","Expense ratio"],"keywords":["exchange-traded funds","ETF","Alternatives ETFs","fund data","SEC filings"]}],"characters":6503,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / HFEQ vs LSEQ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Nov 5, 2026 .\n\n HFEQ vs LSEQ: Correlation to the S&P 500\n\n Over the year to Nov 5, 2026, LSEQ moved less with the S&P 500 than HFEQ: correlation +0.08 against +0.83.\n Copy this for sharing \n \n HFEQ costs 1.32 points a year less; their one-year returns differ by 18.4 points.\n HFEQ and LSEQ at a glance. As of Nov 5, 2026. Source: ETFIQ. HFEQ LSEQ \n Expense ratio 0.96% 2.28% \n Net assets, HFEQ as of Aug 31, 2026 and LSEQ as of Nov 5, 2026 $19m $18m \n Total return, 1 year +4.8% +23.2% \n H","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, HFEQ against LSEQ, data as of Nov 5, 2026. https://etfiq.com/compare/alternatives/hfeq-vs-lseq","a":{"ticker":"HFEQ","name":"Unlimited HFEQ Equity Long/Short ETF","issuer":"Unlimited","desk":"alternatives","as_of":"2026-11-05","verdict":"Over the year to Nov 5, 2026, HFEQ returned 4.8%, against 9.5% for VOO.","url":"https://etfiq.com/funds/hfeq","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.83","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+1.22","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"136.2%","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+3.4 pts","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"9.5%","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment, ex-date Dec 24, 2025","value":"$2.1986","as_of":"2025-12-24","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$19m","as_of":"2026-08-31","source":"SEC N-PORT, whole fund, as filed for Aug 31, 2026"},{"label":"Expense ratio","value":"0.96%","as_of":"2025-12-23","source":"485BPOS XBRL, Dec 23, 2025"}]},"b":{"ticker":"LSEQ","name":"Harbor Long-Short Equity ETF","issuer":"Harbor","desk":"alternatives","as_of":"2026-11-05","verdict":"Over the year to Nov 5, 2026, LSEQ returned 23.2%. When the S&P 500 fell, it fell 3% as much.","url":"https://etfiq.com/funds/lseq","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.08","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.10","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"3.4%","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+20.3 pts","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"2.1%","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment, ex-date Dec 19, 2025","value":"$0.6071","as_of":"2025-12-19","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$18m","as_of":"2026-11-05","source":"issuer page, as of Nov 5, 2026"},{"label":"Expense ratio","value":"2.28%","as_of":"2026-02-27","source":"485BPOS XBRL, Feb 27, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/alternatives/hfeq-vs-lseq"}