Even Herd Long Short ETF (EHLS) belongs to the Long-Short category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with EHLS. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to EHLS
EHLS charges 1.58% annually. There are 19 ETFs in the Long-Short category with lower expense ratios, going as low as 0.45%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Proshares Large Cap Core Plus | 0.45% | 515.62M | Jul 2009 | EHLS vs CSM | |
| Aptus International Enhanced Yield ETF | 0.45% | 372.15M | Jul 2021 | EHLS vs IDUB | |
| Arin Tactical Tail Risk ETF | 0.63% | — | Oct 2025 | EHLS vs ATTR | |
| WisdomTree Inflation Plus Fund | 0.65% | 21.79M | Jun 2025 | EHLS vs WTIP | |
| Franklin Liberty Systematic Style Premia ETF | 0.65% | 930.68M | Dec 2019 | EHLS vs FLSP |
Best Risk-Adjusted Alternatives to EHLS
EHLS has a PortfoliosLab risk / return rank of 40. There are 14 ETFs in the Long-Short category with higher risk-adjusted ranks, going as high as 95.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Convergence Long/Short Equity ETF | 95 | 447.61M | Dec 2009 | EHLS vs CLSE | |
| IQ Hedge Multi-Strategy Tracker ETF | 80 | 762.37M | Mar 2009 | EHLS vs QAI | |
| ProShares Hedge Replication | 74 | 21.78M | Jul 2011 | EHLS vs HDG | |
| Harbor Long-Short Equity ETF | 69 | 16.92M | Dec 2023 | EHLS vs LSEQ | |
| Hull Tactical US ETF | 68 | 137.43M | Jun 2015 | EHLS vs HTUS |
Top Performing EHLS Alternatives (YTD)
EHLS is at 14.25% YTD. There are 4 ETFs in the Long-Short category with higher YTD returns, going as high as 28.71%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Harbor Long-Short Equity ETF | 28.71% | 16.92M | Dec 2023 | EHLS vs LSEQ | |
| Convergence Long/Short Equity ETF | 24.77% | 447.61M | Dec 2009 | EHLS vs CLSE | |
| Changebridge Capital Long/Short Equity ETF | 20.31% | 59.25M | Nov 2020 | EHLS vs CBLS | |
| Aptus International Enhanced Yield ETF | 14.34% | 372.15M | Jul 2021 | EHLS vs IDUB | |
| Efficient Market Portfolio Plus ETF | 12.86% | — | Dec 2024 | EHLS vs EMPB |
Lowest Volatility Alternatives to EHLS
EHLS has 18.94% 1-year volatility. There are 23 ETFs in the Long-Short category with lower 1-year volatility, going as low as 3.17%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Arin Tactical Tail Risk ETF | 3.17% | — | Oct 2025 | EHLS vs ATTR | |
| First Trust Merger Arbitrage ETF | 5.35% | 19.90M | Feb 2020 | EHLS vs MARB | |
| ProShares Hedge Replication | 6.24% | 21.78M | Jul 2011 | EHLS vs HDG | |
| IQ Hedge Multi-Strategy Tracker ETF | 6.58% | 762.37M | Mar 2009 | EHLS vs QAI | |
| Federated Hermes MDT Market Neutral ETF | 6.74% | 82.10M | Sep 2025 | EHLS vs MKTN |
Lowest Drawdown Alternatives to EHLS
EHLS has a 1-year max drawdown of -9.06%. There are 11 ETFs in the Long-Short category with shallower 1-year drawdowns, going as shallow as -2.43%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Merger Arbitrage ETF | -2.43% | 19.90M | Feb 2020 | EHLS vs MARB | |
| AltShares Event-Driven ETF | -3.35% | 8.62M | Dec 2014 | EHLS vs EVNT | |
| IQ Hedge Multi-Strategy Tracker ETF | -3.71% | 762.37M | Mar 2009 | EHLS vs QAI | |
| First Trust Long/Short Equity ETF | -3.79% | 2.40B | Sep 2014 | EHLS vs FTLS | |
| ProShares Hedge Replication | -3.97% | 21.78M | Jul 2011 | EHLS vs HDG |
Often Compared With EHLS
Investors most often compare EHLS with ORR, QLEIX, VOO. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare EHLS with Any Fund or Stock
Compare EHLS with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair EHLS with funds that move differently
Even Herd Long Short ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to EHLS.
Explore EHLS Diversifiers