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PICTON Long Short Equity Alternative Fund (PFLS.TO) Alternatives

ETF · Currency in CAD · Last updated Jul 25, 2026

The PICTON Long Short Equity Alternative Fund (PFLS) seeks consistent long-term capital appreciation and an attractive risk-adjusted return through an actively managed portfolio of long and short Canadian, U.S., and international equities. The alternative fund may use derivatives, short selling, and borrowing, with expected aggregate gross exposure of 2.5 to 3.0 times net asset value in normal market conditions.

PICTON Long Short Equity Alternative Fund (PFLS.TO) 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 PFLS.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to PFLS.TO

PFLS.TO charges 6.48% annually. There are 10 ETFs in the Long-Short category with lower expense ratios, going as low as 0.35%.

SymbolNameExpense RatioAUMInception
ATSX.TO
Accelerate Canadian Long Short Equity Fund0.35%4.94MMay 2019PFLS.TO vs ATSX.TO
QBTL.TO
AGF US Market Neutral Anti-Beta CAD-Hedged ETF0.55%384.90MOct 2019PFLS.TO vs QBTL.TO
CNAO.TO
CI Alternative North American Opportunities Fund1.21%—Jul 2021PFLS.TO vs CNAO.TO
FCLS.NEO
Fidelity Canadian Long/Short Alternative ETF1.27%—Feb 2024PFLS.TO vs FCLS.NEO
PFAE.TO
PICTON Long Short Equity (130/30) Alternative Fund1.45%42.84MJul 2019PFLS.TO vs PFAE.TO

Best Risk-Adjusted Alternatives to PFLS.TO

PFLS.TO has a PortfoliosLab risk / return rank of 75. There are 2 ETFs in the Long-Short category with higher risk-adjusted ranks, going as high as 94.

SymbolNameRisk / Return RankAUMInception
ATSX.TO
Accelerate Canadian Long Short Equity Fund
94
4.94MMay 2019PFLS.TO vs ATSX.TO
PFAE.TO
PICTON Long Short Equity (130/30) Alternative Fund
83
42.84MJul 2019PFLS.TO vs PFAE.TO
CRED.TO
CI Alternative Investment Grade Credit Fund
71
371.64MJan 2020PFLS.TO vs CRED.TO
PFIA.TO
PICTON Long Short Income Alternative Fund
61
353.70MJul 2019PFLS.TO vs PFIA.TO
PFMN.TO
PICTON Market Neutral Equity Alternative Fund
44
240.67MSep 2018PFLS.TO vs PFMN.TO

Top Performing PFLS.TO Alternatives (YTD)

PFLS.TO is at 8.20% YTD. There are 3 ETFs in the Long-Short category with higher YTD returns, going as high as 18.75%.

SymbolNameYTD ReturnAUMInception
ATSX.TO
Accelerate Canadian Long Short Equity Fund
18.75%
4.94MMay 2019PFLS.TO vs ATSX.TO
PFAE.TO
PICTON Long Short Equity (130/30) Alternative Fund
12.75%
42.84MJul 2019PFLS.TO vs PFAE.TO
CMAG.TO
CI Munro Alternative Global Growth Fund
9.85%
151.53MJan 2021PFLS.TO vs CMAG.TO
FCLS.NEO
Fidelity Canadian Long/Short Alternative ETF
6.45%
—Feb 2024PFLS.TO vs FCLS.NEO
FGLS.NEO
Fidelity Global Value Long/Short Alternative ETF
6.44%
1.16BFeb 2024PFLS.TO vs FGLS.NEO

Lowest Volatility Alternatives to PFLS.TO

PFLS.TO has 9.20% 1-year volatility. There are 4 ETFs in the Long-Short category with lower 1-year volatility, going as low as 1.86%.

SymbolNameVolatility 1YAUMInception
CRED.TO
CI Alternative Investment Grade Credit Fund1.86%371.64MJan 2020PFLS.TO vs CRED.TO
PFIA.TO
PICTON Long Short Income Alternative Fund2.43%353.70MJul 2019PFLS.TO vs PFIA.TO
PFMN.TO
PICTON Market Neutral Equity Alternative Fund4.73%240.67MSep 2018PFLS.TO vs PFMN.TO
ARB.TO
Accelerate Arbitrage Fund8.32%40.70MApr 2020PFLS.TO vs ARB.TO
HDGE.TO
Accelerate Absolute Return Fund13.92%41.33MMay 2019PFLS.TO vs HDGE.TO

Lowest Drawdown Alternatives to PFLS.TO

PFLS.TO has a 1-year max drawdown of -6.98%. There are 4 ETFs in the Long-Short category with shallower 1-year drawdowns, going as shallow as -1.36%.

SymbolNameMax Drawdown 1YAUMInception
PFIA.TO
PICTON Long Short Income Alternative Fund
-1.36%
353.70MJul 2019PFLS.TO vs PFIA.TO
CRED.TO
CI Alternative Investment Grade Credit Fund
-1.52%
371.64MJan 2020PFLS.TO vs CRED.TO
ARB.TO
Accelerate Arbitrage Fund
-2.50%
40.70MApr 2020PFLS.TO vs ARB.TO
PFMN.TO
PICTON Market Neutral Equity Alternative Fund
-3.49%
240.67MSep 2018PFLS.TO vs PFMN.TO
ATSX.TO
Accelerate Canadian Long Short Equity Fund
-8.93%
4.94MMay 2019PFLS.TO vs ATSX.TO

Often Compared With PFLS.TO

Investors most often compare PFLS.TO with ULTY, LSGR, TTP.TO. These 20 comparison targets span 14 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
ULTY
YieldMax Ultra Option Income Strategy ETFDerivative Income
6
3.39%
817.21MFeb 2024PFLS.TO vs ULTY
LSGR
Natixis Loomis Sayles Focused Growth ETFLarge Cap Growth Equities
9
-8.80%
625.96MJun 2023PFLS.TO vs LSGR
TTP.TO
TD Canadian Equity Index ETFCanada Equities
90
12.74%
6.29BMar 2016PFLS.TO vs TTP.TO
SPY
State Street SPDR S&P 500 ETFS&P 500
61
8.94%
790.12BJan 1993PFLS.TO vs SPY
FTLS
First Trust Long/Short Equity ETFLong-Short
76
6.10%
2.45BSep 2014PFLS.TO vs FTLS
RATE.TO
Arrow EC Income Advantage Alternative FundInvestment Grade Bonds, Corporate Bonds, Nontraditional Bonds
72
1.47%
—Jun 2021PFLS.TO vs RATE.TO
GLCC.TO
Global X Gold Producer Equity Covered Call ETFDerivative Income, Gold, Precious Metals
36
-10.13%
534.07MApr 2011PFLS.TO vs GLCC.TO
XYLD
Global X S&P 500 Covered Call ETFDerivative Income, S&P 500
91
6.98%
3.24BJun 2013PFLS.TO vs XYLD
ZWC.TO
BMO CA High Dividend Covered Call ETFDerivative Income
96
15.53%
2.45BFeb 2017PFLS.TO vs ZWC.TO
CGLO.TO
CIBC Global Growth ETFGlobal Equities
21
3.58%
98.79MJul 2020PFLS.TO vs CGLO.TO
DRFG.TO
Desjardins RI Global Multifactor Fossil Fuel Reser...Global Equities, Sustainable, Multi-factor
88
14.43%
28.10MMar 2019PFLS.TO vs DRFG.TO
ETHI.TO
Global X Global Sustainability Leaders Index ETFGlobal Equities, Sustainable
32
6.65%
99.54MOct 2018PFLS.TO vs ETHI.TO
MIVG.TO
Mackenzie Ivy Global Equity ETFGlobal Equities
22
1.51%
26.15MNov 2017PFLS.TO vs MIVG.TO
ONEQ.TO
CI Global Core Plus Equity ETFGlobal Equities, Actively Managed
92
15.60%
57.12MSep 2015PFLS.TO vs ONEQ.TO
TGGR.TO
TD Active Global Equity Growth ETFGlobal Equities
63
11.35%
44.17MMay 2020PFLS.TO vs TGGR.TO
VEQT.TO
Vanguard All-Equity ETF PortfolioGlobal Equities
86
12.92%
15.67BJan 2019PFLS.TO vs VEQT.TO
WSHR.NEO
Wealthsimple Shariah World Equity Index ETFGlobal Equities
37
8.73%
—May 2021PFLS.TO vs WSHR.NEO
XEF-U.TO
iShares Core MSCI EAFE IMI Index ETFGlobal Equities
48
9.44%
—Apr 2013PFLS.TO vs XEF-U.TO
XEQT.TO
iShares Core Equity ETF PortfolioGlobal Equities
85
12.80%
20.38BAug 2019PFLS.TO vs XEQT.TO
XWD.TO
iShares MSCI World Index ETFGlobal Equities
77
11.53%
1.72BJun 2009PFLS.TO vs XWD.TO

Compare PFLS.TO with Any Fund or Stock

Compare PFLS.TO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair PFLS.TO with funds that move differently

PICTON Long Short Equity Alternative Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PFLS.TO.

Explore PFLS.TO Diversifiers