Unlimited HFEQ Equity Long/Short ETF (HFEQ) 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 HFEQ. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to HFEQ
HFEQ charges 1.00% annually. There are 12 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 | HFEQ vs BFLX | |
| Aptus International Enhanced Yield ETF | 0.45% | 372.15M | Jul 2021 | HFEQ vs IDUB | |
| Proshares Large Cap Core Plus | 0.45% | 518.36M | Jul 2009 | HFEQ vs CSM | |
| Arin Tactical Tail Risk ETF | 0.63% | — | Oct 2025 | HFEQ vs ATTR | |
| ProShares Long Online/Short Stores ETF | 0.65% | 7.29M | Nov 2017 | HFEQ vs CLIX |
Best Risk-Adjusted Alternatives to HFEQ
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 | HFEQ vs CLSE | |
| Franklin Liberty Systematic Style Premia ETF | 82 | 946.37M | Dec 2019 | HFEQ vs FLSP | |
| NYLI Hedge Multi-Strategy Tracker ETF | 77 | 762.37M | Mar 2009 | HFEQ vs QAI | |
| Hull Tactical US ETF | 75 | 137.43M | Jun 2015 | HFEQ vs HTUS | |
| ProShares Hedge Replication | 74 | 21.57M | Jul 2011 | HFEQ vs HDG |
Top Performing HFEQ Alternatives (YTD)
Among 26 ETFs in the Long-Short category with YTD return data, the top-performing alternatives shown here go as high as 23.64%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Convergence Long/Short Equity ETF | 23.64% | 447.61M | Dec 2009 | HFEQ vs CLSE | |
| Harbor Long-Short Equity ETF | 22.96% | 16.40M | Dec 2023 | HFEQ vs LSEQ | |
| Changebridge Capital Long/Short Equity ETF | 16.34% | 60.15M | Nov 2020 | HFEQ vs CBLS | |
| Aptus International Enhanced Yield ETF | 14.33% | 372.15M | Jul 2021 | HFEQ vs IDUB | |
| Efficient Market Portfolio Plus ETF | 13.08% | — | Dec 2024 | HFEQ vs EMPB |
Lowest Volatility Alternatives to HFEQ
Among 27 ETFs in the Long-Short category with 1-year volatility data, the lowest-volatility alternatives shown here go as low as 3.21%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Arin Tactical Tail Risk ETF | 3.21% | — | Oct 2025 | HFEQ vs ATTR | |
| ProShares Hedge Replication | 6.34% | 21.57M | Jul 2011 | HFEQ vs HDG | |
| Federated Hermes MDT Market Neutral ETF | 6.59% | 82.10M | Sep 2025 | HFEQ vs MKTN | |
| NYLI Hedge Multi-Strategy Tracker ETF | 6.74% | 762.37M | Mar 2009 | HFEQ vs QAI | |
| AltShares Event-Driven ETF | 7.57% | 8.62M | Dec 2014 | HFEQ vs EVNT |
Lowest Drawdown Alternatives to HFEQ
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 | HFEQ vs EVNT | |
| NYLI Hedge Multi-Strategy Tracker ETF | -3.71% | 762.37M | Mar 2009 | HFEQ vs QAI | |
| First Trust Long/Short Equity ETF | -3.79% | 2.45B | Sep 2014 | HFEQ vs FTLS | |
| ProShares Hedge Replication | -3.97% | 21.57M | Jul 2011 | HFEQ vs HDG | |
| Franklin Liberty Systematic Style Premia ETF | -4.03% | 946.37M | Dec 2019 | HFEQ vs FLSP |
Other ETFs from Unlimited
The 2 most viewed Unlimited ETFs shown here include HFGM, HFMF and span 2 categories. AUM among these funds goes as high as $68M.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Unlimited HFGM Global Macro ETF | Macro Trading | 37 | 6.10% | 67.93M | Apr 2025 | HFEQ vs HFGM | |
| Unlimited HFMF Managed Futures ETF | Systematic Trend | 23 | 4.38% | 6.90M | Jul 2025 | HFEQ vs HFMF |
Often Compared With HFEQ
Investors most often compare HFEQ with ORR, HECA, RSSB. These 20 comparison targets span 14 categories, based on PortfoliosLab usage data.
Compare HFEQ with Any Fund or Stock
Compare HFEQ with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair HFEQ with funds that move differently
Unlimited HFEQ Equity Long/Short ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HFEQ.
Explore HFEQ Diversifiers