Equity Hedged ETFs and funds maintain meaningful equity exposure while using options, short positions, futures, or other hedges to reduce market risk or limit drawdowns. They generally retain more directional equity exposure than equity market-neutral strategies.

Equity Hedged

The Fund seeks to track the share price return of the iShares Core S&P 500 ETF up to an approximate upside limit while maximizing downside protection against price declines over a one-year period. It employs an options-based strategy to provide up to 100% downside protection in exchange for capped upside.

Cboe US

MAXJ

The State Street Galaxy Hedged Digital Asset Ecosystem ETF is an actively managed ETF investing in digital-asset ecosystem companies while using a hedge overlay to manage downside risk.

NasdaqGM

HECO

The ETF is actively managed to capture upside potential in small-cap U.S. equities while limiting maximum losses through a disciplined options overlay strategy.

NYSEArca

RFLR

The KraneShares Hedgeye Hedged Equity Index ETF (KSPY) seeks to provide exposure to the S&P 500 while reducing volatility and dynamically hedging downside risk. The fund employs a strategy guided by Hedgeye's Risk Range™ Signals, utilizing a combination of put and call options to manage downside risk and enhance risk-adjusted returns.

KSPY

MC Trio Equity Buffered ETF is an actively managed ETF that seeks capital appreciation with limited downside protection. The fund uses FLEX options to gain exposure to U.S. and international developed-market equities while aiming to buffer the first 10% of losses.

Symbol	Name	Sharpe Ratio (1Y)	Sharpe Ratio (5Y)	Sharpe Ratio (10Y)	Risk / Return Rank
MAXJ	iShares Large Cap Max Buffer Jun ETF	3.16	—	—	95
HECO	State Street Galaxy Hedged Digital Asset Ecosystem...	2.45	—	—	86
RFLR	Innovator U.S. Small Cap Managed Floor ETF	2.31	—	—	90
KSPY	Kraneshares Hedgeye Hedged Equity Index ETF	2.21	—	—	89
TRIO	MC Trio Equity Buffered ETF	2.17	—	—	85

Top Equity Hedged ETFs by Sharpe Ratio

Top Equity Hedged ETFs by Sharpe Ratio