Recomputed every trading night from the published data. As of Sep 19, 2026.

Alternatives ETFs ranked by the Diversifier Score

How much does it diversify a stock portfolio?

Diversifier Score is where a fund sits among the 63 alternatives ETFs it can honestly be compared with, on that one question. It is a rank turned into a percentile, so the middle of the set is 52.4 and the top of it today is 98 rather than 100. A percentile has no weights to argue with and can be recomputed by anyone with the file.

A high score is not a recommendation and a low one is not a warning. It is one year of weekly returns, and a fund that rose when stocks fell in that year need not in the next. It leaves out what the fund earned, which is why return against T-bills sits beside it: a fund can score well by losing money slowly. Funds with less than a year of prices are not scored. How it is computed

Alternatives ETFs ranked by the Diversifier Score, as of Sep 19, 2026. Source: ETFIQ.
#	Ticker	Fund	Issuer	Diversifier Score	Correlation with the S&P 500	Down-week capture against the S&P 500
1	BTAL	AGF U.S. Market Neutral Anti-Beta Fund	AGF Investments	98	−0.69	−95.2%
2	CTA	Simplify Managed Futures Strategy ETF	Simplify	95.3	−0.26	−78.5%
3	TAIL	Cambria Tail Risk ETF	Cambria	95.3	−0.75	−32.1%
4	KMLM	KraneShares Mount Lucas Managed Futures Index Strate	KraneShares	93.7	−0.24	−60.3%
5	FFUT	Fidelity Managed Futures ETF	Fidelity	90.5	−0.04	−32.3%
6	QBER	TrueShares Quarterly Bear Hedge ETF	TrueShares	89.3	−0.69	−15.4%
7	LSEQ	Harbor Long-Short Equity ETF	Harbor	88.1	+0.05	−48.0%
8	CAOS	Alpha Architect Tail Risk ETF	Alpha Architect	84.9	−0.40	−6.2%
9	MRGR	ProShares Merger ETF	ProShares	84.9	−0.02	−15.6%
10	FLSP	Franklin Systematic Style Premia ETF	Franklin	81.8	+0.01	−12.6%
11	FMF	First Trust Managed Futures Strategy Fund	First Trust	81.8	+0.18	−16.2%
12	IMF	Invesco Managed Futures Strategy ETF	Invesco	81	+0.22	−22.7%
13	DBMF	iMGP DBi Managed Futures Strategy ETF	iMGP	78.5	+0.26	−16.8%
14	ARB	AltShares Merger Arbitrage ETF	AltShares	76.9	+0.04	−4.0%
15	CCOR	Core Alternative ETF	Core Alternative	76.2	+0.06	−4.8%
16	MFUT	Cambria Chesapeake Pure Trend ETF	Cambria	76.2	+0.29	−15.9%
17	LALT	First Trust Multi-Strategy Alternative ETF	First Trust	75.4	+0.24	−14.9%
18	MNA	NYLIM Merger Arbitrage ETF	New York Life Investments	73.8	+0.15	−3.1%
19	ISMF	iShares Managed Futures Active ETF	iShares	71.5	+0.32	−7.8%
20	HFMF	Unlimited HFMF Managed Futures ETF	Unlimited	69.1	+0.20	12.7%
21	EVNT	AltShares Event-Driven ETF	AltShares	65.8	+0.38	−5.7%
22	ASMF	Virtus AlphaSimplex Managed Futures ETF	Virtus	65.5	+0.34	7.5%
23	RSBA	Return Stacked Bonds & Merger Arbitrage ETF	Return Stacked	62.3	+0.34	13.6%
24	AHLT	AHL Trend ETF	American Beacon	60.4	+0.40	8.0%
25	ORR	Militia Long/Short Equity ETF	Militia	60.3	+0.35	14.3%
26	RSBT	Return Stacked Bonds & Managed Futures ETF	Return Stacked	60.3	+0.39	9.2%
27	QIS	Simplify Multi-QIS Alternative ETF	Simplify	59.5	−0.15	59.6%
28	CBLS	Clough Hedged Equity ETF	Clough	58.7	+0.36	14.5%
29	QALT	SEI DBi Multi-Strategy Alternative ETF	SEI	54	+0.45	21.1%
30	BTRN	Global X Bitcoin Trend Strategy ETF	Global X	53.1	+0.21	51.2%
31	WTMF	WisdomTree Managed Futures Strategy Fund	WisdomTree	53.1	+0.54	15.2%
32	TFPN	Blueprint Chesapeake Multi-Asset Trend ETF	Blueprint	52.4	+0.46	25.7%
33	EHLS	Even Herd Long Short ETF	Even Herd	46	+0.55	38.3%
34	CLSE	Convergence Long/Short Equity ETF	Convergence	44.5	+0.63	36.5%
35	HOLD	Harbor Alpha Layering ETF	Harbor	44	+0.57	39.5%
36	HDG	ProShares Hedge Replication ETF	ProShares	41.3	+0.83	29.0%
37	QBUL	TrueShares Quarterly Bull Hedge ETF	TrueShares	38.5	+0.86	29.5%
38	FTLS	First Trust Long/Short Equity	First Trust	38.1	+0.77	42.3%
39	HOLA	JPMorgan International Hedged Equity Laddered Overla	JPMorgan	38.1	+0.72	47.0%
40	QAI	NYLIM Hedge Multi-Strategy Tracker ETF	New York Life Investments	38.1	+0.85	34.0%
41	HFND	Unlimited HFND Multi-Strategy Return Tracker ETF	Unlimited	34.9	+0.78	50.0%
42	PHEQ	Parametric Hedged Equity ETF	Parametric	33	+0.91	31.7%
43	HFGM	Unlimited HFGM Global Macro ETF	Unlimited	32.1	+0.57	73.9%
44	KSPY	KraneShares Hedgeye Hedged Equity Index ETF	KraneShares	32.1	+0.87	39.8%
45	PRAE	PlanRock Equity Plus Alternatives ETF	PlanRock	30.9	+0.75	66.7%
46	ASGM	Virtus AlphaSimplex Global Macro ETF	Virtus	29.4	+0.81	64.2%
47	FFLS	The Future Fund Long/Short ETF	The Future Fund	27.8	+0.69	84.7%
48	SHDG	Soundwatch Hedged Equity ETF	Soundwatch	27	+0.86	60.2%
49	HEQT	Simplify Hedged Equity ETF	Simplify	25.8	+0.94	45.1%
50	HELO	JPMorgan Hedged Equity Laddered Overlay ETF	JPMorgan	21.4	+0.95	56.2%
51	HEQQ	JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF	JPMorgan	20.2	+0.90	71.5%
52	HEGD	Swan Hedged Equity US Large Cap ETF	Swan	17.4	+0.97	60.2%
53	HFEQ	Unlimited HFEQ Equity Long/Short ETF	Unlimited	16.6	+0.82	139.9%
54	XCLR	Global X S&P 500 Collar 95-110 ETF	Global X	15.5	+0.94	76.6%
55	QCLR	Global X NASDAQ 100 Collar 95-110 ETF	Global X	14.3	+0.89	98.4%
56	RSST	Return Stacked U.S. Stocks & Managed Futures ETF	Return Stacked	13.9	+0.87	106.4%
57	THEQ	T. Rowe Price Hedged Equity ETF	T. Rowe Price	12.3	+0.98	71.5%
58	ZHDG	ZEGA Buy and Hedge ETF	Zega	11.1	+0.96	90.0%
59	QTR	Global X NASDAQ 100 Tail Risk ETF	Global X	9.9	+0.91	134.8%
60	ACIO	Aptus Collared Investment Opportunity ETF	Aptus	9.6	+0.98	80.3%
61	FHEQ	Fidelity Hedged Equity ETF	Fidelity	9.1	+0.97	92.2%
62	CSM	ProShares Large Cap Core Plus	ProShares	4.8	+0.98	99.9%
63	XTR	Global X S&P 500 Tail Risk ETF	Global X	4.8	+0.99	96.7%

63 funds scored.

Where to next

Cite this page. ETFIQ, Alternatives ETFs ranked by the Diversifier Score, data as of Sep 19, 2026. https://etfiq.com/scores/alternatives/ Free to use with attribution; the underlying files are at Open data.