ATTR vs. FGLS.NEO

Last updated Jul 17, 2026

ATTR (Arin Tactical Tail Risk ETF) and FGLS.NEO (Fidelity Global Value Long/Short Alternative ETF) are both Long-Short funds. Both are actively managed. At a correlation of -0.43, they often move in opposite directions. ATTR charges 0.63%/yr vs 1.51%/yr for FGLS.NEO.

Performance

ATTR vs. FGLS.NEO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arin Tactical Tail Risk ETF (ATTR) and Fidelity Global Value Long/Short Alternative ETF (FGLS.NEO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ATTR is traded in USD, while FGLS.NEO is traded in CAD. To make them comparable, the FGLS.NEO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ATTR achieves a 4.60% return, which is significantly lower than FGLS.NEO's 5.79% return.

ATTR

• 1D: -0.17%
• 1M: 0.57%
• 6M: 4.15%
• YTD: 4.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FGLS.NEO

• 1D: 5.70%
• 1M: 14.93%
• 6M: 8.52%
• YTD: 5.79%
• 1Y: 10.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ATTR vs. FGLS.NEO - Yearly Performance Comparison

	2026 (YTD)	2025
ATTR Arin Tactical Tail Risk ETF	4.60%	0.53%
FGLS.NEO Fidelity Global Value Long/Short Alternative ETF	5.79%	12.74%

Correlation

The correlation between ATTR and FGLS.NEO is -0.43, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 28, 2025	-0.43

Return for Risk

ATTR vs. FGLS.NEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ATTR

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FGLS.NEO

FGLS.NEO Risk / Return Rank: 18
FGLS.NEO Sharpe Ratio Rank: 18
FGLS.NEO Sortino Ratio Rank: 19
FGLS.NEO Omega Ratio Rank: 18
FGLS.NEO Calmar Ratio Rank: 18
FGLS.NEO Martin Ratio Rank: 17

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ATTR vs. FGLS.NEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arin Tactical Tail Risk ETF (ATTR) and Fidelity Global Value Long/Short Alternative ETF (FGLS.NEO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ATTR	FGLS.NEO	Difference
Sharpe ratio: Return per unit of total volatility	—	0.37	—
Sortino ratio: Return per unit of downside risk	—	0.75	—
Omega ratio: Gain probability vs. loss probability	—	1.09	—
Calmar ratio: Return relative to maximum drawdown	—	0.47	—
Martin ratio: Return relative to average drawdown	—	0.97	—

Drawdowns

ATTR vs. FGLS.NEO - Drawdown Comparison

The maximum ATTR drawdown since its inception was -1.76%, smaller than the maximum FGLS.NEO drawdown of -30.44%. Use the drawdown chart below to compare losses from any high point for ATTR and FGLS.NEO.

Drawdown Indicators

	ATTR	FGLS.NEO	Difference
Max Drawdown Largest peak-to-trough decline	-1.76%	-30.44%	+28.68%
Max Drawdown (1Y) Largest decline over 1 year	—	-21.45%	—
Current Drawdown Current decline from peak	-0.17%	-11.37%	+11.20%
Average Drawdown Average peak-to-trough decline	-0.23%	-16.80%	+16.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.39%	—

Volatility

Volatility by Period

	ATTR	FGLS.NEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	21.12%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.21%	27.54%	-24.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.21%	24.27%	-21.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.21%	24.27%	-21.06%

ATTR vs. FGLS.NEO - Expense Ratio Comparison

ATTR has a 0.63% expense ratio, which is lower than FGLS.NEO's 1.51% expense ratio.

Dividends

ATTR vs. FGLS.NEO - Dividend Comparison

Neither ATTR nor FGLS.NEO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ATTR and FGLS.NEO in my portfolio?

ATTR and FGLS.NEO have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ATTR or FGLS.NEO?

On fees, ATTR is cheaper at 0.63% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ATTR or FGLS.NEO?

ATTR is cheaper with a 0.63% expense ratio, compared with 1.51% for FGLS.NEO.

What is the main difference between ATTR and FGLS.NEO?

They also come from different issuers: Arin Risk Advisors and Fidelity. Their fees differ too: 0.63% for ATTR and 1.51% for FGLS.NEO.