Simplify Market Neutral Equity Long/Short ETF (EQLS) 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 EQLS. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to EQLS
EQLS charges 1.00% annually. There are 11 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 | EQLS vs CSM | |
| Aptus International Enhanced Yield ETF | 0.45% | 372.15M | Jul 2021 | EQLS vs IDUB | |
| Arin Tactical Tail Risk ETF | 0.63% | — | Oct 2025 | EQLS vs ATTR | |
| WisdomTree Inflation Plus Fund | 0.65% | 21.79M | Jun 2025 | EQLS vs WTIP | |
| Franklin Liberty Systematic Style Premia ETF | 0.65% | 930.68M | Dec 2019 | EQLS vs FLSP |
Best Risk-Adjusted Alternatives to EQLS
Among 22 ETFs in the Long-Short category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 95.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Convergence Long/Short Equity ETF | 95 | 447.61M | Dec 2009 | EQLS vs CLSE | |
| IQ Hedge Multi-Strategy Tracker ETF | 80 | 762.37M | Mar 2009 | EQLS vs QAI | |
| ProShares Hedge Replication | 74 | 21.78M | Jul 2011 | EQLS vs HDG | |
| Harbor Long-Short Equity ETF | 69 | 16.92M | Dec 2023 | EQLS vs LSEQ | |
| Hull Tactical US ETF | 68 | 137.43M | Jun 2015 | EQLS vs HTUS |
Top Performing EQLS Alternatives (YTD)
Among 27 ETFs in the Long-Short category with YTD return data, the top-performing alternatives shown here go as high as 28.71%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Harbor Long-Short Equity ETF | 28.71% | 16.92M | Dec 2023 | EQLS vs LSEQ | |
| Convergence Long/Short Equity ETF | 24.77% | 447.61M | Dec 2009 | EQLS vs CLSE | |
| Changebridge Capital Long/Short Equity ETF | 20.31% | 59.25M | Nov 2020 | EQLS vs CBLS | |
| Aptus International Enhanced Yield ETF | 14.34% | 372.15M | Jul 2021 | EQLS vs IDUB | |
| Even Herd Long Short ETF | 14.25% | 60.59M | Apr 2024 | EQLS vs EHLS |
Lowest Volatility Alternatives to EQLS
Among 27 ETFs in the Long-Short category with 1-year volatility data, the lowest-volatility alternatives shown here go as low as 3.17%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Arin Tactical Tail Risk ETF | 3.17% | — | Oct 2025 | EQLS vs ATTR | |
| First Trust Merger Arbitrage ETF | 5.35% | 19.90M | Feb 2020 | EQLS vs MARB | |
| ProShares Hedge Replication | 6.24% | 21.78M | Jul 2011 | EQLS vs HDG | |
| IQ Hedge Multi-Strategy Tracker ETF | 6.58% | 762.37M | Mar 2009 | EQLS vs QAI | |
| Federated Hermes MDT Market Neutral ETF | 6.74% | 82.10M | Sep 2025 | EQLS vs MKTN |
Lowest Drawdown Alternatives to EQLS
Among 22 ETFs in the Long-Short category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as -2.43%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Merger Arbitrage ETF | -2.43% | 19.90M | Feb 2020 | EQLS vs MARB | |
| AltShares Event-Driven ETF | -3.35% | 8.62M | Dec 2014 | EQLS vs EVNT | |
| IQ Hedge Multi-Strategy Tracker ETF | -3.71% | 762.37M | Mar 2009 | EQLS vs QAI | |
| First Trust Long/Short Equity ETF | -3.79% | 2.40B | Sep 2014 | EQLS vs FTLS | |
| ProShares Hedge Replication | -3.97% | 21.78M | Jul 2011 | EQLS vs HDG |
Other ETFs from Simplify
The 10 most viewed Simplify ETFs shown here include SVOL, CTA, HEQT and span 14 categories. AUM among these funds goes as high as $2B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Simplify Volatility Premium ETF | Volatility | 27 | -0.40% | 547.01M | May 2021 | EQLS vs SVOL | |
| Simplify Managed Futures Strategy ETF | Systematic Trend | 10 | 0.24% | 1.57B | Mar 2022 | EQLS vs CTA | |
| Simplify Hedged Equity ETF | Equity Hedged, Options Trading, Actively Managed | 63 | 4.02% | 316.92M | Nov 2021 | EQLS vs HEQT | |
| Simplify Bitcoin Strategy PLUS Income ETF | Cryptocurrency, Derivative Income | 2 | -36.54% | 25.20M | Sep 2022 | EQLS vs MAXI | |
| Simplify Interest Rate Hedge ETF | Hedge Fund | 5 | -6.98% | 201.47M | May 2021 | EQLS vs PFIX | |
| Simplify High Yield PLUS Credit Hedge ETF | High Yield Bonds | 6 | -1.51% | 398.24M | Feb 2022 | EQLS vs CDX | |
| Simplify Treasury Option Income ETF | Government Bonds, Ultrashort Bond, Derivative Income | 86 | 2.12% | 465.86M | Oct 2022 | EQLS vs BUCK | |
| Simplify Enhanced Income ETF | Derivative Income, Dividend | 7 | -0.79% | 72.39M | Oct 2022 | EQLS vs HIGH | |
| Simplify Aggregate Bond ETF | Intermediate Core Bond | 36 | 0.68% | 512.36M | Feb 2022 | EQLS vs AGGH | |
| Simplify MBS ETF | Mortgage Backed Securities | 39 | -0.06% | 1.55B | Nov 2023 | EQLS vs MTBA |
Often Compared With EQLS
Investors most often compare EQLS with QIS, QLEIX, MAFIX. These 20 comparison targets span 12 categories, based on PortfoliosLab usage data.
Compare EQLS with Any Fund or Stock
Compare EQLS with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair EQLS with funds that move differently
Simplify Market Neutral Equity Long/Short ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to EQLS.
Explore EQLS Diversifiers