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 22 ETFs in the Long-Short category with lower expense ratios, going as low as 0.40%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| iShares Flexible Equity Active ETF | 0.40% | 1.61B | May 2026 | EHLS vs BFLX | |
| Proshares Large Cap Core Plus | 0.45% | 515.52M | Jul 2009 | EHLS vs CSM | |
| Aptus International Enhanced Yield ETF | 0.45% | 490.37M | Jul 2021 | EHLS vs IDUB | |
| Arin Tactical Tail Risk ETF | 0.63% | — | Oct 2025 | EHLS vs ATTR | |
| ProShares Long Online/Short Stores ETF | 0.65% | 7.48M | Nov 2017 | EHLS vs CLIX |
Best Risk-Adjusted Alternatives to EHLS
EHLS has a PortfoliosLab risk / return rank of 37. There are 15 ETFs in the Long-Short category with higher risk-adjusted ranks, going as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Convergence Long/Short Equity ETF | 96 | 447.61M | Dec 2009 | EHLS vs CLSE | |
| Franklin Liberty Systematic Style Premia ETF | 88 | 1.04B | Dec 2019 | EHLS vs FLSP | |
| NYLI Hedge Multi-Strategy Tracker ETF | 83 | 1.02B | Mar 2009 | EHLS vs QAI | |
| ProShares Hedge Replication | 80 | 22.00M | Jul 2011 | EHLS vs HDG | |
| Aptus International Enhanced Yield ETF | 78 | 490.37M | Jul 2021 | EHLS vs IDUB |
Top Performing EHLS Alternatives (YTD)
EHLS is at 10.15% YTD. There are 8 ETFs in the Long-Short category with higher YTD returns, going as high as 24.37%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Convergence Long/Short Equity ETF | 24.37% | 447.61M | Dec 2009 | EHLS vs CLSE | |
| Harbor Long-Short Equity ETF | 23.37% | 15.30M | Dec 2023 | EHLS vs LSEQ | |
| Aptus International Enhanced Yield ETF | 15.21% | 490.37M | Jul 2021 | EHLS vs IDUB | |
| Efficient Market Portfolio Plus ETF | 14.62% | — | Dec 2024 | EHLS vs EMPB | |
| Militia Long/Short Equity ETF | 13.55% | 138.61M | Jan 2025 | EHLS vs ORR |
Lowest Volatility Alternatives to EHLS
EHLS has 19.19% 1-year volatility. There are 23 ETFs in the Long-Short category with lower 1-year volatility, going as low as 3.30%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Arin Tactical Tail Risk ETF | 3.30% | — | Oct 2025 | EHLS vs ATTR | |
| ProShares Hedge Replication | 6.41% | 22.00M | Jul 2011 | EHLS vs HDG | |
| Federated Hermes MDT Market Neutral ETF | 6.65% | 106.80M | Sep 2025 | EHLS vs MKTN | |
| NYLI Hedge Multi-Strategy Tracker ETF | 6.85% | 1.02B | Mar 2009 | EHLS vs QAI | |
| AltShares Event-Driven ETF | 7.57% | 8.62M | Dec 2014 | EHLS vs EVNT |
Lowest Drawdown Alternatives to EHLS
EHLS has a 1-year max drawdown of -9.06%. There are 9 ETFs in the Long-Short category with shallower 1-year drawdowns, going as shallow as -3.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| AltShares Event-Driven ETF | -3.35% | 8.62M | Dec 2014 | EHLS vs EVNT | |
| NYLI Hedge Multi-Strategy Tracker ETF | -3.71% | 1.02B | Mar 2009 | EHLS vs QAI | |
| First Trust Long/Short Equity ETF | -3.79% | 2.49B | Sep 2014 | EHLS vs FTLS | |
| ProShares Hedge Replication | -3.97% | 22.00M | Jul 2011 | EHLS vs HDG | |
| Franklin Liberty Systematic Style Premia ETF | -4.03% | 1.04B | Dec 2019 | EHLS vs FLSP |
Other ETFs from Tidal
The 10 most viewed Tidal ETFs shown here include GRNY, NANC, BOAT and span 8 categories. AUM among these funds goes as high as $4B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Fundstrat Granny Shots U.S. Large Cap ETF | Large Cap Blend Equities | 35 | 9.17% | 3.61B | Nov 2024 | EHLS vs GRNY | |
| Unusual Whales Subversive Democratic Trading ETF | Large Cap Blend Equities | 47 | 9.12% | 265.74M | Feb 2023 | EHLS vs NANC | |
| SonicShares Global Shipping ETF | Industrials Equities, Global Equities | 93 | 44.78% | 82.19M | Aug 2021 | EHLS vs BOAT | |
| UPAR Ultra Risk Parity ETF | Diversified Portfolio | 42 | 3.37% | 58.82M | Jan 2022 | EHLS vs UPAR | |
| Unlimited HFND Multi-Strategy Return Tracker ETF | Multistrategy | 65 | 7.36% | 33.60M | Oct 2022 | EHLS vs HFND | |
| God Bless America ETF | Large Cap Blend Equities | 10 | -3.72% | 101.04M | Oct 2022 | EHLS vs YALL | |
| Fundstrat Granny Shots US Large Cap & Income ETF | Derivative Income | — | 7.63% | 51.03M | Nov 2025 | EHLS vs GRNI | |
| Blueprint Chesapeake Multi-Asset Trend ETF | Global Allocation | 75 | 16.44% | 163.81M | Jul 2023 | EHLS vs TFPN | |
| Peerless Option Income Wheel ETF | Derivative Income | 84 | 6.19% | 21.33M | May 2024 | EHLS vs WEEL | |
| YieldMax JPM Option Income Strategy ETF | Options Trading | 34 | 8.98% | 51.23M | Sep 2023 | EHLS vs JPO |
Often Compared With EHLS
Investors most often compare EHLS with VOO, QLEIX, URTH. These 20 comparison targets span 8 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