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 11 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% | 524.02M | Jul 2009 | HFEQ vs CSM | |
| Aptus International Enhanced Yield ETF | 0.45% | 372.15M | Jul 2021 | HFEQ vs IDUB | |
| Arin Tactical Tail Risk ETF | 0.63% | — | Oct 2025 | HFEQ vs ATTR | |
| ProShares Long Online/Short Stores ETF | 0.65% | 7.28M | Nov 2017 | HFEQ vs CLIX | |
| WisdomTree Inflation Plus Fund | 0.65% | 23.76M | Jun 2025 | HFEQ vs WTIP |
Best Risk-Adjusted Alternatives to HFEQ
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 | HFEQ vs CLSE | |
| IQ Hedge Multi-Strategy Tracker ETF | 85 | 762.37M | Mar 2009 | HFEQ vs QAI | |
| Hull Tactical US ETF | 78 | 137.43M | Jun 2015 | HFEQ vs HTUS | |
| ProShares Hedge Replication | 73 | 21.57M | Jul 2011 | HFEQ vs HDG | |
| Proshares Large Cap Core Plus | 69 | 524.02M | Jul 2009 | HFEQ vs CSM |
Top Performing HFEQ Alternatives (YTD)
HFEQ is at 14.04% YTD. There are 7 ETFs in the Long-Short category with higher YTD returns, going as high as 27.40%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Harbor Long-Short Equity ETF | 27.40% | 15.30M | Dec 2023 | HFEQ vs LSEQ | |
| Convergence Long/Short Equity ETF | 25.76% | 447.61M | Feb 2022 | HFEQ vs CLSE | |
| Changebridge Capital Long/Short Equity ETF | 24.21% | 55.44M | Nov 2020 | HFEQ vs CBLS | |
| Aptus International Enhanced Yield ETF | 16.05% | 372.15M | Jul 2021 | HFEQ vs IDUB | |
| Rareview Systematic Equity ETF | 15.92% | 59.01M | Jan 2022 | HFEQ vs RSEE |
Lowest Volatility Alternatives to HFEQ
HFEQ has 21.60% 1-year volatility. There are 28 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 | HFEQ vs SENT | |
| Arin Tactical Tail Risk ETF | 2.97% | — | Oct 2025 | HFEQ vs ATTR | |
| First Trust Merger Arbitrage ETF | 5.31% | 19.86M | Feb 2020 | HFEQ vs MARB | |
| ProShares Hedge Replication | 5.64% | 21.57M | Jul 2011 | HFEQ vs HDG | |
| IQ Hedge Multi-Strategy Tracker ETF | 5.99% | 762.37M | Mar 2009 | HFEQ vs QAI |
Lowest Drawdown Alternatives to HFEQ
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 | HFEQ vs SENT | |
| First Trust Merger Arbitrage ETF | -2.43% | 19.86M | Feb 2020 | HFEQ vs MARB | |
| AltShares Event-Driven ETF | -3.35% | 8.62M | Dec 2014 | HFEQ vs EVNT | |
| IQ Hedge Multi-Strategy Tracker ETF | -3.71% | 762.37M | Mar 2009 | HFEQ vs QAI | |
| First Trust Long/Short Equity ETF | -3.79% | 2.35B | Sep 2014 | HFEQ vs FTLS |
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 | 55 | 14.95% | 67.93M | Apr 2025 | HFEQ vs HFGM | |
| Unlimited HFMF Managed Futures ETF | Systematic Trend | — | 7.67% | 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 9 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