# EHLS (Even Herd Long Short ETF)

Even Herd · Alternatives ETFs · data as of Sep 18, 2026

In the S&P 500’s down weeks over the year to Sep 18, 2026, EHLS fell 38% as much as the index.

## Key facts

- EHLS, correlation with the S&P 500: +0.55, as of Sep 18, 2026.
- EHLS, beta to the S&P 500: +0.58, as of Sep 18, 2026.
- EHLS, down-week capture: 38.3%, as of Sep 18, 2026.
- EHLS, against T-bills, 52 weeks: +6.2 pts, as of Sep 18, 2026.
- EHLS, net assets: $61m (SEC N-PORT, whole fund, as filed for Jun 30, 2026).
- EHLS, expense ratio: 3.35% (485BPOS XBRL, Jul 28, 2026).

## EHLS over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | −4.1% | +2.3% | −6.3 pts |
| 6 months | +5.3% | +18.0% | −12.7 pts |
| 1 year | +11.3% | +16.6% | −5.3 pts |
| Since it listed | +30.3% | +51.1% | −20.9 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | Even Herd | ETFIQ |
| Strategy | Long-short equity | ETFIQ, from its prospectus |
| Expense ratio | 3.35% | 485BPOS XBRL, Jul 28, 2026 |
| Net assets | $61m | SEC N-PORT, whole fund, as filed for Jun 30, 2026 |
| Weeks measured | 52, from Sep 19, 2025 to Sep 18, 2026 | ETFIQ |
| Weeks the S&P 500 fell | 22 | ETFIQ |
| The S&P 500 in those weeks, on average | −1.24% | ETFIQ |
| EHLS in those weeks, on average | −0.47% | ETFIQ |
| EHLS total return over those weeks | +9.8% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Apr 2, 2024 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

### Does EHLS move with the S&P 500?

Over the year to Sep 18, 2026, EHLS’s weekly returns had a correlation of +0.55 with the S&P 500’s, on a scale where 1 moves in step, 0 shows no pattern and −1 moves opposite. Its beta was +0.58, so for each 1% the index moved it moved about 0.58% the same way.

### What did EHLS do when stocks fell?

The S&P 500 fell in 22 of the 52 weeks to Sep 18, 2026, by 1.24% on average. In those weeks EHLS fell 0.47% on average, a down-week capture of 38.3%.

### Did EHLS earn more than cash?

Over the same 52 weeks EHLS returned +9.8% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. EHLS finished 6.2 percentage points ahead of it.

### What does EHLS cost?

The prospectus expense ratio is 3.35% a year.

### Why is EHLS listed as long-short equity?

ETFIQ files each fund by what its own prospectus says it does, and EHLS’s, filed Jul 28, 2026, describes a long-short equity fund.


## Cite this page

ETFIQ, EHLS, data as of Sep 18, 2026. https://etfiq.com/funds/ehls
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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