Fidelity Global Value Long/Short Alternative ETF (FGLS.NEO) 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 FGLS.NEO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FGLS.NEO
FGLS.NEO charges 1.51% annually. There are 21 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% | — | May 2026 | FGLS.NEO vs BFLX | |
| Proshares Large Cap Core Plus | 0.45% | 502.70M | Jul 2009 | FGLS.NEO vs CSM | |
| Aptus International Enhanced Yield ETF | 0.45% | 372.15M | Jul 2021 | FGLS.NEO vs IDUB | |
| Arin Tactical Tail Risk ETF | 0.63% | — | Oct 2025 | FGLS.NEO vs ATTR | |
| Franklin Liberty Systematic Style Premia ETF | 0.65% | 944.91M | Dec 2019 | FGLS.NEO vs FLSP |
Best Risk-Adjusted Alternatives to FGLS.NEO
FGLS.NEO has a PortfoliosLab risk / return rank of 10. There are 23 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 | FGLS.NEO vs CLSE | |
| IQ Hedge Multi-Strategy Tracker ETF | 80 | 762.37M | Mar 2009 | FGLS.NEO vs QAI | |
| ProShares Hedge Replication | 76 | 21.55M | Jul 2011 | FGLS.NEO vs HDG | |
| Franklin Liberty Systematic Style Premia ETF | 73 | 944.91M | Dec 2019 | FGLS.NEO vs FLSP | |
| Hull Tactical US ETF | 72 | 137.43M | Jun 2015 | FGLS.NEO vs HTUS |
Top Performing FGLS.NEO Alternatives (YTD)
FGLS.NEO is at 0.47% YTD. There are 28 ETFs in the Long-Short category with higher YTD returns, going as high as 24.64%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Harbor Long-Short Equity ETF | 24.64% | 16.79M | Dec 2023 | FGLS.NEO vs LSEQ | |
| Convergence Long/Short Equity ETF | 21.70% | 447.61M | Dec 2009 | FGLS.NEO vs CLSE | |
| Changebridge Capital Long/Short Equity ETF | 19.70% | 59.07M | Nov 2020 | FGLS.NEO vs CBLS | |
| Aptus International Enhanced Yield ETF | 15.21% | 372.15M | Jul 2021 | FGLS.NEO vs IDUB | |
| Rareview Systematic Equity ETF | 13.65% | 59.01M | Jan 2022 | FGLS.NEO vs RSEE |
Lowest Volatility Alternatives to FGLS.NEO
FGLS.NEO has 26.20% 1-year volatility. There are 32 ETFs in the Long-Short category with lower 1-year volatility, going as low as 3.18%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Arin Tactical Tail Risk ETF | 3.18% | — | Oct 2025 | FGLS.NEO vs ATTR | |
| PICTON Market Neutral Equity Alternative Fund | 4.69% | 240.67M | Sep 2018 | FGLS.NEO vs PFMN.TO | |
| ProShares Hedge Replication | 6.25% | 21.55M | Jul 2011 | FGLS.NEO vs HDG | |
| IQ Hedge Multi-Strategy Tracker ETF | 6.66% | 762.37M | Mar 2009 | FGLS.NEO vs QAI | |
| Federated Hermes MDT Market Neutral ETF | 6.67% | 82.10M | Sep 2025 | FGLS.NEO vs MKTN |
Lowest Drawdown Alternatives to FGLS.NEO
FGLS.NEO has a 1-year max drawdown of -21.12%. There are 24 ETFs in the Long-Short category with shallower 1-year drawdowns, going as shallow as -2.50%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Accelerate Arbitrage Fund | -2.50% | 40.70M | — | FGLS.NEO vs ARB.TO | |
| AltShares Event-Driven ETF | -3.35% | 8.62M | Dec 2014 | FGLS.NEO vs EVNT | |
| PICTON Market Neutral Equity Alternative Fund | -3.49% | 240.67M | Sep 2018 | FGLS.NEO vs PFMN.TO | |
| Purpose Multi-Strategy Market Neutral Fund | -3.50% | 11.10M | Oct 2014 | FGLS.NEO vs PMM.TO | |
| IQ Hedge Multi-Strategy Tracker ETF | -3.71% | 762.37M | Mar 2009 | FGLS.NEO vs QAI |
Other ETFs from Fidelity
The 10 most viewed Fidelity ETFs shown here include FTEC, FDVV, FBTC and span 7 categories. AUM among these funds goes as high as $26B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Fidelity MSCI Information Technology Index ETF | Technology Equities | 55 | 22.16% | 21.38B | Oct 2013 | FGLS.NEO vs FTEC | |
| Fidelity High Dividend ETF | Large Cap Blend Equities, Dividend | 65 | 9.90% | 9.77B | Sep 2016 | FGLS.NEO vs FDVV | |
| Fidelity Wise Origin Bitcoin Fund | Cryptocurrency | 2 | -29.79% | 13.40B | Jan 2024 | FGLS.NEO vs FBTC | |
| Fidelity Total Bond ETF | Intermediate Core-Plus Bond | 35 | 0.94% | 26.06B | Oct 2014 | FGLS.NEO vs FBND | |
| Fidelity Nasdaq Composite Index ETF | Large Cap Growth Equities | 54 | 11.94% | 10.92B | Sep 2003 | FGLS.NEO vs ONEQ | |
| Fidelity Blue Chip Growth ETF | Large Cap Growth Equities | 44 | 11.40% | 6.91B | Jun 2020 | FGLS.NEO vs FBCG | |
| Fidelity Enhanced Large Cap Core ETF | Large Cap Blend Equities | 64 | 10.15% | 7.64B | Apr 2007 | FGLS.NEO vs FELC | |
| Fidelity MSCI Utilities Index ETF | Utilities Equities | 34 | 8.26% | 2.35B | Oct 2013 | FGLS.NEO vs FUTY | |
| Fidelity Ethereum Fund | Cryptocurrency | 5 | -42.79% | 994.18M | Jul 2024 | FGLS.NEO vs FETH | |
| Fidelity Enhanced Large Cap Growth ETF | Large Cap Growth Equities | 29 | 3.32% | 5.76B | Nov 2023 | FGLS.NEO vs FELG |
Compare FGLS.NEO with Any Fund or Stock
Compare FGLS.NEO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FGLS.NEO with funds that move differently
Fidelity Global Value Long/Short Alternative ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FGLS.NEO.
Explore FGLS.NEO Diversifiers