Hedgeye 130/30 Equity ETF (HELS) 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 HELS. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to HELS
HELS 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% | 515.62M | Jul 2009 | HELS vs CSM | |
| Aptus International Enhanced Yield ETF | 0.45% | 372.15M | Jul 2021 | HELS vs IDUB | |
| Arin Tactical Tail Risk ETF | 0.63% | — | Oct 2025 | HELS vs ATTR | |
| WisdomTree Inflation Plus Fund | 0.65% | 21.79M | Jun 2025 | HELS vs WTIP | |
| ProShares Long Online/Short Stores ETF | 0.65% | 7.04M | Nov 2017 | HELS vs CLIX |
Best Risk-Adjusted Alternatives to HELS
Among 21 ETFs in the Long-Short category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Convergence Long/Short Equity ETF | 96 | 447.61M | Dec 2009 | HELS vs CLSE | |
| IQ Hedge Multi-Strategy Tracker ETF | 86 | 762.37M | Mar 2009 | HELS vs QAI | |
| ProShares Hedge Replication | 79 | 21.78M | Jul 2011 | HELS vs HDG | |
| Harbor Long-Short Equity ETF | 75 | 16.92M | Dec 2023 | HELS vs LSEQ | |
| Hull Tactical US ETF | 70 | 137.43M | Jun 2015 | HELS vs HTUS |
Top Performing HELS Alternatives (YTD)
HELS is at 1.10% YTD. There are 20 ETFs in the Long-Short category with higher YTD returns, going as high as 29.82%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Harbor Long-Short Equity ETF | 29.82% | 16.92M | Dec 2023 | HELS vs LSEQ | |
| Convergence Long/Short Equity ETF | 25.47% | 447.61M | Dec 2009 | HELS vs CLSE | |
| Changebridge Capital Long/Short Equity ETF | 21.29% | 59.25M | Nov 2020 | HELS vs CBLS | |
| Aptus International Enhanced Yield ETF | 15.06% | 372.15M | Jul 2021 | HELS vs IDUB | |
| Efficient Market Portfolio Plus ETF | 13.30% | — | Dec 2024 | HELS vs EMPB |
Lowest Volatility Alternatives to HELS
HELS has 16.70% 1-year volatility. There are 18 ETFs in the Long-Short category with lower 1-year volatility, going as low as 3.16%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Arin Tactical Tail Risk ETF | 3.16% | — | Oct 2025 | HELS vs ATTR | |
| ProShares Hedge Replication | 6.23% | 21.78M | Jul 2011 | HELS vs HDG | |
| IQ Hedge Multi-Strategy Tracker ETF | 6.58% | 762.37M | Mar 2009 | HELS vs QAI | |
| Federated Hermes MDT Market Neutral ETF | 6.72% | 82.10M | Sep 2025 | HELS vs MKTN | |
| AltShares Event-Driven ETF | 7.65% | 8.62M | Dec 2014 | HELS vs EVNT |
Lowest Drawdown Alternatives to HELS
Among 21 ETFs in the Long-Short category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as -3.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| AltShares Event-Driven ETF | -3.35% | 8.62M | Dec 2014 | HELS vs EVNT | |
| IQ Hedge Multi-Strategy Tracker ETF | -3.71% | 762.37M | Mar 2009 | HELS vs QAI | |
| First Trust Long/Short Equity ETF | -3.79% | 2.40B | Sep 2014 | HELS vs FTLS | |
| ProShares Hedge Replication | -3.97% | 21.78M | Jul 2011 | HELS vs HDG | |
| Franklin Liberty Systematic Style Premia ETF | -4.03% | 930.68M | Dec 2019 | HELS vs FLSP |
Other ETFs from Hedgeye
The 2 most viewed Hedgeye ETFs shown here include HECA, HEFT and span 2 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 | — | -1.12% | 94.32M | Jun 2025 | HELS vs HECA | |
| Hedgeye Fourth Turning ETF | Long-Short | — | 4.79% | 8.59M | Nov 2025 | HELS vs HEFT |
Often Compared With HELS
Investors most often compare HELS with EHLS, MARB, QLENX. These 5 comparison targets span 3 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Even Herd Long Short ETF | Long-Short | 38 | 13.04% | 60.59M | Apr 2024 | HELS vs EHLS | |
| First Trust Merger Arbitrage ETF | Long-Short | — | — | 19.90M | Feb 2020 | HELS vs MARB | |
| AQR Long-Short Equity Fund Class N | Long-Short, Actively Managed | 36 | -3.16% | — | Jul 2013 | HELS vs QLENX | |
| Rareview Systematic Equity ETF | Long-Short | 55 | 12.94% | 59.01M | Jan 2022 | HELS vs RSEE | |
| Cambria Endowment Style ETF | Global Allocation | 81 | 8.50% | 144.08M | Apr 2025 | HELS vs ENDW |
Compare HELS with Any Fund or Stock
Compare HELS with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair HELS with funds that move differently
Hedgeye 130/30 Equity ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HELS.
Explore HELS Diversifiers