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% | 741.53M | May 2026 | HELS vs BFLX | |
| Proshares Large Cap Core Plus | 0.45% | 518.36M | 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 | |
| Franklin Liberty Systematic Style Premia ETF | 0.65% | 946.37M | Dec 2019 | HELS vs FLSP |
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 | |
| Franklin Liberty Systematic Style Premia ETF | 82 | 946.37M | Dec 2019 | HELS vs FLSP | |
| NYLI Hedge Multi-Strategy Tracker ETF | 77 | 762.37M | Mar 2009 | HELS vs QAI | |
| Hull Tactical US ETF | 75 | 137.43M | Jun 2015 | HELS vs HTUS | |
| ProShares Hedge Replication | 74 | 21.57M | Jul 2011 | HELS vs HDG |
Top Performing HELS Alternatives (YTD)
HELS is at 0.49% YTD. There are 21 ETFs in the Long-Short category with higher YTD returns, going as high as 23.64%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Convergence Long/Short Equity ETF | 23.64% | 447.61M | Dec 2009 | HELS vs CLSE | |
| Harbor Long-Short Equity ETF | 22.96% | 16.40M | Dec 2023 | HELS vs LSEQ | |
| Changebridge Capital Long/Short Equity ETF | 16.34% | 60.15M | Nov 2020 | HELS vs CBLS | |
| Aptus International Enhanced Yield ETF | 14.33% | 372.15M | Jul 2021 | HELS vs IDUB | |
| Efficient Market Portfolio Plus ETF | 13.08% | — | Dec 2024 | HELS vs EMPB |
Lowest Volatility Alternatives to HELS
HELS has 16.10% 1-year volatility. There are 16 ETFs in the Long-Short category with lower 1-year volatility, going as low as 3.21%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Arin Tactical Tail Risk ETF | 3.21% | — | Oct 2025 | HELS vs ATTR | |
| ProShares Hedge Replication | 6.34% | 21.57M | Jul 2011 | HELS vs HDG | |
| Federated Hermes MDT Market Neutral ETF | 6.59% | 82.10M | Sep 2025 | HELS vs MKTN | |
| NYLI Hedge Multi-Strategy Tracker ETF | 6.74% | 762.37M | Mar 2009 | HELS vs QAI | |
| AltShares Event-Driven ETF | 7.57% | 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 | |
| NYLI Hedge Multi-Strategy Tracker ETF | -3.71% | 762.37M | Mar 2009 | HELS vs QAI | |
| First Trust Long/Short Equity ETF | -3.79% | 2.45B | Sep 2014 | HELS vs FTLS | |
| ProShares Hedge Replication | -3.97% | 21.57M | Jul 2011 | HELS vs HDG | |
| Franklin Liberty Systematic Style Premia ETF | -4.03% | 946.37M | Dec 2019 | HELS vs FLSP |
Other ETFs from Hedgeye
The 3 most viewed Hedgeye ETFs shown here include HECA, HEFT, ADDS and span 3 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 | 26 | -1.19% | 94.32M | Jun 2025 | HELS vs HECA | |
| Hedgeye Fourth Turning ETF | Long-Short | — | 3.44% | 8.59M | Nov 2025 | HELS vs HEFT | |
| 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, RSEE. 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 | 85 | 11.18% | 141.41M | Apr 2025 | HELS vs ENDW | |
| Even Herd Long Short ETF | Long-Short | 28 | 9.08% | 60.10M | Apr 2024 | HELS vs EHLS | |
| Rareview Systematic Equity ETF | Long-Short | 52 | 13.02% | 59.01M | Jan 2022 | HELS vs RSEE | |
| ProShares Long Online/Short Stores ETF | Long-Short | 20 | -2.17% | 7.29M | Nov 2017 | HELS vs CLIX | |
| AQR Long-Short Equity Fund Class N | Long-Short, Actively Managed | 65 | -1.31% | — | Jul 2013 | HELS vs QLENX | |
| WisdomTree Inflation Plus Fund | Long-Short | 37 | 7.59% | 21.11M | 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