As of Nov 4, 2026. Rebuilt every trading night.
The largest long-short equity ETFs
See 11 funds ranked by net assets. Updated Nov 4, 2026. Every fund here runs a long-short equity strategy, so what separates them is how well each does that job.
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11 of 11 · click a column to sortPoints (pts) are percentage points.
| # | Ticker | Fund | Net assets ↓ | Correlation | Down-week capture | Against T-bills | Source |
|---|---|---|---|---|---|---|---|
| 1 | FTLS | First Trust Long/Short Equity | $2.6bn | +0.83 | 44.7% | +4.1 pts | Issuer page, Nov 3, 2026 |
| 2 | CLSE | Convergence Long/Short Equity ETF | $900m | +0.73 | 59.1% | +18.4 pts | SEC N-PORT, Aug 31, 2026 |
| 3 | CSM | ProShares Large Cap Core Plus | $521m | +0.98 | 90.7% | +10.1 pts | Issuer page, Nov 4, 2026 |
| 4 | ORR | Militia Long/Short Equity ETF | $355m | +0.41 | 25.0% | +16.7 pts | SEC N-PORT, Aug 31, 2026 |
| 5 | EHLS | Even Herd Long Short ETF | $61m | +0.69 | 123.5% | −3.2 pts | SEC N-PORT, Jun 30, 2026 |
| 6 | CBLS | Clough Hedged Equity ETF | $56m | +0.59 | 150.0% | −2.5 pts | SEC N-PORT, Jul 31, 2026 |
| 7 | FFLS | The Future Fund Long/Short ETF | $43m | +0.65 | 65.7% | −2.4 pts | SEC N-PORT, Aug 31, 2026 |
| 8 | HFEQ | Unlimited HFEQ Equity Long/Short ETF | $19m | +0.86 | 158.3% | +5.8 pts | SEC N-PORT, Aug 31, 2026 |
| 9 | LSEQ | Harbor Long-Short Equity ETF | $17m | +0.18 | 24.8% | +20.8 pts | Issuer page, Nov 3, 2026 |
| 10 | MEMA | Man Active Emerging Markets Alternative | $13m | under a year | not measured | not available | SEC N-PORT, Aug 31, 2026 |
| 11 | WTLS | WisdomTree Efficient Long/Short U.S. Equ | $12m | under a year | not measured | not available | SEC N-PORT, Jun 30, 2026 |
The 12 long-short equity ETFs ETFIQ measures, of which 11 publish net assets. Across the funds listed here correlation with the S&P 500 runs from 0.2 to 1.0.
The rest of the method
Size does not show how much a fund diversifies. The correlation column does. The list sorts one published number, with no scoring or weighting. Every fund ETFIQ covers in this category is eligible, closed funds included.
Links are sources, not endorsements. A ranking is not a recommendation or an opinion.
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ETFIQ, The largest long-short equity ETFs, ranked by net assets, data as of Nov 4, 2026. https://etfiq.com/rankings/alternatives-largest-long-short-equity
ETFIQ. (Nov 4, 2026). The largest long-short equity ETFs, ranked by net assets. Retrieved from https://etfiq.com/rankings/alternatives-largest-long-short-equity
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