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 | |
|---|---|---|---|---|---|
| Aptus International Enhanced Yield ETF | 0.45% | 372.15M | Jul 2021 | HELS vs IDUB | |
| Proshares Large Cap Core Plus | 0.45% | 524.02M | Jul 2009 | HELS vs CSM | |
| Arin Tactical Tail Risk ETF | 0.63% | — | Oct 2025 | HELS vs ATTR | |
| Franklin Liberty Systematic Style Premia ETF | 0.65% | 908.01M | Dec 2019 | HELS vs FLSP | |
| ProShares Long Online/Short Stores ETF | 0.65% | 7.28M | 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 95.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Convergence Long/Short Equity ETF | 95 | 447.61M | Feb 2022 | HELS vs CLSE | |
| Hull Tactical US ETF | 76 | 137.43M | Jun 2015 | HELS vs HTUS | |
| IQ Hedge Multi-Strategy Tracker ETF | 75 | 762.37M | Mar 2009 | HELS vs QAI | |
| Proshares Large Cap Core Plus | 68 | 524.02M | Jul 2009 | HELS vs CSM | |
| ProShares Hedge Replication | 66 | 21.57M | Jul 2011 | HELS vs HDG |
Top Performing HELS Alternatives (YTD)
HELS is at -2.32% YTD. There are 26 ETFs in the Long-Short category with higher YTD returns, going as high as 24.01%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Harbor Long-Short Equity ETF | 24.01% | 15.30M | Dec 2023 | HELS vs LSEQ | |
| Convergence Long/Short Equity ETF | 22.80% | 447.61M | Feb 2022 | HELS vs CLSE | |
| Changebridge Capital Long/Short Equity ETF | 18.94% | 55.44M | Nov 2020 | HELS vs CBLS | |
| Even Herd Long Short ETF | 13.15% | 62.82M | Apr 2024 | HELS vs EHLS | |
| Efficient Market Portfolio Plus ETF | 13.09% | — | Dec 2024 | HELS vs EMPB |
Lowest Volatility Alternatives to HELS
HELS has 16.66% 1-year volatility. There are 21 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 | HELS vs SENT | |
| Arin Tactical Tail Risk ETF | 3.04% | — | Oct 2025 | HELS vs ATTR | |
| First Trust Merger Arbitrage ETF | 5.30% | 19.86M | Feb 2020 | HELS vs MARB | |
| ProShares Hedge Replication | 5.83% | 21.57M | Jul 2011 | HELS vs HDG | |
| IQ Hedge Multi-Strategy Tracker ETF | 6.24% | 762.37M | Mar 2009 | HELS vs QAI |
Lowest Drawdown Alternatives to HELS
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 | HELS vs SENT | |
| First Trust Merger Arbitrage ETF | -2.43% | 19.86M | Feb 2020 | HELS vs MARB | |
| 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% | 2.35B | Sep 2014 | HELS vs FTLS |
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 | — | -2.42% | 94.32M | Jun 2025 | HELS vs HECA | |
| Hedgeye Fourth Turning ETF | Long-Short | — | 3.66% | 8.59M | Nov 2025 | HELS vs HEFT |
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