As of . Rebuilt every trading night.
The largest long-short equity ETFs
Every fund here runs a long-short equity strategy, so what separates them is how well each does that job.
| # | Ticker | Fund | Net assets | Correlation | Down-week capture | Against T-bills | Source |
|---|---|---|---|---|---|---|---|
| 1 | FTLS | First Trust Long/Short Equity | $2.6bn | +0.77 | 42.3% | +7.7 pts | Issuer page, Sep 18, 2026 |
| 2 | CLSE | Convergence Long/Short Equity ETF | $614m | +0.63 | 36.5% | +29.5 pts | SEC N-PORT, May 31, 2026 |
| 3 | CSM | ProShares Large Cap Core Plus | $520m | +0.98 | 99.9% | +12.1 pts | Issuer page, Sep 18, 2026 |
| 4 | ORR | Militia Long/Short Equity ETF | $367m | +0.35 | 14.3% | +17.7 pts | SEC N-PORT, May 29, 2026 |
| 5 | EHLS | Even Herd Long Short ETF | $61m | +0.55 | 38.3% | +6.2 pts | SEC N-PORT, Jun 30, 2026 |
| 6 | CBLS | Clough Hedged Equity ETF | $53m | +0.36 | 14.5% | +5.7 pts | SEC N-PORT, Apr 30, 2026 |
| 7 | FFLS | The Future Fund Long/Short ETF | $43m | +0.69 | 84.7% | −8.3 pts | SEC N-PORT, May 31, 2026 |
| 8 | HELS | Hedgeye 130/30 Equity ETF | $25m | under a year | not measured | not available | SEC N-PORT, Apr 30, 2026 |
| 9 | HFEQ | Unlimited HFEQ Equity Long/Short ETF | $16m | +0.82 | 139.9% | +11.2 pts | SEC N-PORT, May 31, 2026 |
| 10 | LSEQ | Harbor Long-Short Equity ETF | $16m | +0.05 | −48.0% | +19.2 pts | Issuer page, Sep 18, 2026 |
| 11 | MEMA | Man Active Emerging Markets Alternative | $13m | under a year | not measured | not available | SEC N-PORT, May 31, 2026 |
| 12 | WTLS | WisdomTree Efficient Long/Short U.S. Equ | $12m | under a year | not measured | not available | SEC N-PORT, Jun 30, 2026 |
Method
The 12 long-short equity ETFs ETFIQ measures, of which 12 publish net assets. Across the funds listed here correlation with the S&P 500 runs from 0.1 to 1.0. Size is not a measure of how much a fund diversifies. The correlation column is. The ranking is the published field sorted, nothing else: no scoring, no weighting and no view on any fund. Every fund ETFIQ covers in this category is eligible, including funds that have closed, because leaving them out would flatter the category.
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
A ranking is not a recommendation and no order on this site is an opinion. ETFIQ is an independent publisher, not an adviser. Standards and sources
Cite this page. ETFIQ, The largest long-short equity ETFs, ranked by net assets, data as of Sep 18, 2026. https://etfiq.com/rankings/alternatives-largest-long-short-equity Free to use with attribution; the underlying files are at Open data.