Hedgeye Fourth Turning ETF (HEFT) 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 HEFT. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to HEFT
HEFT charges 0.70% annually. There are 6 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% | 524.02M | Jul 2009 | HEFT vs CSM | |
| Aptus International Enhanced Yield ETF | 0.45% | 372.15M | Jul 2021 | HEFT vs IDUB | |
| Arin Tactical Tail Risk ETF | 0.63% | — | Oct 2025 | HEFT vs ATTR | |
| ProShares Long Online/Short Stores ETF | 0.65% | 7.28M | Nov 2017 | HEFT vs CLIX | |
| WisdomTree Inflation Plus Fund | 0.65% | 23.76M | Jun 2025 | HEFT vs WTIP |
Best Risk-Adjusted Alternatives to HEFT
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 | Feb 2022 | HEFT vs CLSE | |
| IQ Hedge Multi-Strategy Tracker ETF | 85 | 762.37M | Mar 2009 | HEFT vs QAI | |
| Hull Tactical US ETF | 78 | 137.43M | Jun 2015 | HEFT vs HTUS | |
| ProShares Hedge Replication | 73 | 21.57M | Jul 2011 | HEFT vs HDG | |
| Proshares Large Cap Core Plus | 69 | 524.02M | Jul 2009 | HEFT vs CSM |
Top Performing HEFT Alternatives (YTD)
HEFT is at 7.91% YTD. There are 13 ETFs in the Long-Short category with higher YTD returns, going as high as 27.40%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Harbor Long-Short Equity ETF | 27.40% | 15.30M | Dec 2023 | HEFT vs LSEQ | |
| Convergence Long/Short Equity ETF | 25.76% | 447.61M | Feb 2022 | HEFT vs CLSE | |
| Changebridge Capital Long/Short Equity ETF | 24.21% | 55.44M | Nov 2020 | HEFT vs CBLS | |
| Aptus International Enhanced Yield ETF | 16.05% | 372.15M | Jul 2021 | HEFT vs IDUB | |
| Rareview Systematic Equity ETF | 15.92% | 59.01M | Jan 2022 | HEFT vs RSEE |
Lowest Volatility Alternatives to HEFT
HEFT has 12.53% 1-year volatility. There are 14 ETFs in the Long-Short category with lower 1-year volatility, going as low as 0.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| AdvisorShares Alpha DNA Equity Sentiment ETF | 0.00% | 3.55M | Feb 2021 | HEFT vs SENT | |
| Arin Tactical Tail Risk ETF | 2.97% | — | Oct 2025 | HEFT vs ATTR | |
| First Trust Merger Arbitrage ETF | 5.31% | 19.86M | Feb 2020 | HEFT vs MARB | |
| ProShares Hedge Replication | 5.64% | 21.57M | Jul 2011 | HEFT vs HDG | |
| IQ Hedge Multi-Strategy Tracker ETF | 5.99% | 762.37M | Mar 2009 | HEFT vs QAI |
Lowest Drawdown Alternatives to HEFT
Among 23 ETFs in the Long-Short category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| AdvisorShares Alpha DNA Equity Sentiment ETF | 0.00% | 3.55M | Feb 2021 | HEFT vs SENT | |
| First Trust Merger Arbitrage ETF | -2.43% | 19.86M | Feb 2020 | HEFT vs MARB | |
| AltShares Event-Driven ETF | -3.35% | 8.62M | Dec 2014 | HEFT vs EVNT | |
| IQ Hedge Multi-Strategy Tracker ETF | -3.71% | 762.37M | Mar 2009 | HEFT vs QAI | |
| First Trust Long/Short Equity ETF | -3.79% | 2.35B | Sep 2014 | HEFT vs FTLS |
Other ETFs from Hedgeye
The 1 most viewed Hedgeye ETFs shown here include HECA and span 1 categories. AUM among these funds goes as high as $94M.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Hedgeye Capital Allocation ETF | Global Allocation | — | 0.22% | 94.32M | Jun 2025 | HEFT vs HECA |
Often Compared With HEFT
Investors most often compare HEFT with HFMF, EMPB, JAKVX. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare HEFT with Any Fund or Stock
Compare HEFT with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair HEFT with funds that move differently
Hedgeye Fourth Turning ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HEFT.
Explore HEFT Diversifiers