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 7 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 | HELS vs BFLX | |
| ProShares Large Cap Core Plus | 0.45% | 515.52M | Jul 2009 | HELS vs CSM | |
| Aptus International Enhanced Yield ETF | 0.45% | 490.37M | Jul 2021 | HELS vs IDUB | |
| Arin Tactical Tail Risk ETF | 0.63% | — | Oct 2025 | HELS vs ATTR | |
| ProShares Long Online/Short Stores ETF | 0.65% | 7.48M | Nov 2017 | HELS vs CLIX |
Best Risk-Adjusted Alternatives to HELS
Among 22 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 | |
| Hull Tactical US ETF | 85 | 137.43M | Jun 2015 | HELS vs HTUS | |
| NYLI Hedge Multi-Strategy Tracker ETF | 80 | 1.02B | Mar 2009 | HELS vs QAI | |
| ProShares Hedge Replication | 79 | 22.00M | Jul 2011 | HELS vs HDG | |
| First Trust Long/Short Equity ETF | 76 | 2.49B | Sep 2014 | HELS vs FTLS |
Top Performing HELS Alternatives (YTD)
HELS is at -1.75% YTD. There are 24 ETFs in the Long-Short category with higher YTD returns, going as high as 24.84%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Convergence Long/Short Equity ETF | 24.84% | 447.61M | Dec 2009 | HELS vs CLSE | |
| Aptus International Enhanced Yield ETF | 18.04% | 490.37M | Jul 2021 | HELS vs IDUB | |
| Harbor Long-Short Equity ETF | 17.64% | 15.30M | Dec 2023 | HELS vs LSEQ | |
| Efficient Market Portfolio Plus ETF | 17.13% | — | Dec 2024 | HELS vs EMPB | |
| Hull Tactical US ETF | 15.74% | 137.43M | Jun 2015 | HELS vs HTUS |
Lowest Volatility Alternatives to HELS
HELS has 15.47% 1-year volatility. There are 15 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 | HELS vs ATTR | |
| ProShares Hedge Replication | 6.40% | 22.00M | Jul 2011 | HELS vs HDG | |
| Federated Hermes MDT Market Neutral ETF | 6.67% | 106.80M | Sep 2025 | HELS vs MKTN | |
| NYLI Hedge Multi-Strategy Tracker ETF | 6.90% | 1.02B | Mar 2009 | HELS vs QAI | |
| AltShares Event-Driven ETF | 7.52% | 8.62M | Dec 2014 | HELS vs EVNT |
Lowest Drawdown Alternatives to HELS
Among 22 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 | |
| NYLI Hedge Multi-Strategy Tracker ETF | -3.71% | 1.02B | Mar 2009 | HELS vs QAI | |
| First Trust Long/Short Equity ETF | -3.79% | 2.49B | Sep 2014 | HELS vs FTLS | |
| ProShares Hedge Replication | -3.97% | 22.00M | Jul 2011 | HELS vs HDG | |
| Franklin Systematic Style Premia ETF | -4.03% | 1.04B | Dec 2019 | HELS vs FLSP |
Other ETFs from Hedgeye
The 4 most viewed Hedgeye ETFs shown here include HECA, HEFT, HGRO and span 5 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 | 28 | -0.76% | 94.32M | Jun 2025 | HELS vs HECA | |
| Hedgeye Fourth Turning ETF | Long-Short | — | 3.44% | 8.59M | Nov 2025 | HELS vs HEFT | |
| Hedgeye Quality Growth ETF | Quality Factor, Large Cap Growth Equities | 47 | 8.58% | 42.39M | Jun 2025 | HELS vs HGRO | |
| Hedgeye Index Adds ETF | Multi-factor | — | — | 250.46K | May 2026 | HELS vs ADDS |
Often Compared With HELS
Investors most often compare HELS with ENDW, EHLS, CBLS. These 6 comparison targets span 3 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Cambria Endowment Style ETF | Global Allocation | 88 | 13.13% | 149.69M | Apr 2025 | HELS vs ENDW | |
| Even Herd Long Short ETF | Long-Short | 35 | 11.25% | 59.50M | Apr 2024 | HELS vs EHLS | |
| Clough Hedged Equity ETF | Long-Short | 17 | 10.43% | 56.94M | Nov 2020 | HELS vs CBLS | |
| Rareview Systematic Equity ETF | Long-Short | 54 | 15.27% | 59.01M | Jan 2022 | HELS vs RSEE | |
| AQR Long-Short Equity Fund Class N | Long-Short, Actively Managed | 72 | 1.90% | — | Jul 2013 | HELS vs QLENX | |
| WisdomTree Inflation Plus Fund | Long-Short | 43 | 8.86% | 21.42M | Jun 2025 | HELS vs WTIP |
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