EHLS vs. BOAT

Last updated Aug 2, 2026

EHLS (Even Herd Long Short ETF) and BOAT (SonicShares Global Shipping ETF) are both exchange-traded funds - EHLS is a Long-Short fund actively managed by Tidal, while BOAT is a Industrials Equities fund tracking the Solactive Global Shipping Index. EHLS is actively managed, while BOAT is passively managed. Over the past year, EHLS returned 16.88% vs 59.34% for BOAT. Their 0.26 correlation means their historical movements had little consistent relationship. EHLS charges 1.58%/yr vs 0.69%/yr for BOAT.

Performance

EHLS vs. BOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Even Herd Long Short ETF (EHLS) and SonicShares Global Shipping ETF (BOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EHLS achieves a 10.15% return, which is significantly lower than BOAT's 44.78% return.

EHLS

• 1D: 0.55%
• 1M: -2.28%
• 6M: 2.88%
• YTD: 10.15%
• 1Y: 16.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.66%

BOAT

• 1D: -0.74%
• 1M: 13.24%
• 6M: 27.61%
• YTD: 44.78%
• 1Y: 59.34%
• 3Y*: 27.06%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.82%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BOAT SonicShares Global Shipping ETF	$1.27M	$891.42K	$991.19K
EHLS Even Herd Long Short ETF	$13.47K	$14.20K	$68.98K

EHLS vs. BOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EHLS Even Herd Long Short ETF	10.15%	6.67%	12.31%
BOAT SonicShares Global Shipping ETF	44.78%	22.77%	4.35%

Correlation

The correlation between EHLS and BOAT is 0.31, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.31
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.26

EHLS vs. BOAT - Sectors Allocation Comparison

Sectors	EHLS	BOAT
Financial Services	16.3%	6.6%
Technology	13.8%	-
Industrials	12.9%	29.2%
Healthcare	11.1%	-
Energy	9.3%	10.3%
Real Estate	7.8%	-
Basic Materials	7.1%	-
Utilities	6.4%	-
Communication Services	5.6%	-
Consumer Cyclical	5.1%	-
Consumer Defensive	4.7%	-

Return for Risk

EHLS vs. BOAT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EHLS

EHLS Risk / Return Rank: 37
EHLS Sharpe Ratio Rank: 33
EHLS Sortino Ratio Rank: 32
EHLS Omega Ratio Rank: 32
EHLS Calmar Ratio Rank: 48
EHLS Martin Ratio Rank: 41

BOAT

BOAT Risk / Return Rank: 93
BOAT Sharpe Ratio Rank: 96
BOAT Sortino Ratio Rank: 94
BOAT Omega Ratio Rank: 92
BOAT Calmar Ratio Rank: 95
BOAT Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EHLS vs. BOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Even Herd Long Short ETF (EHLS) and SonicShares Global Shipping ETF (BOAT). 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.

	EHLS	BOAT	Difference
Sharpe ratio: Return per unit of total volatility	0.81	2.85	-2.03
Sortino ratio: Return per unit of downside risk	1.19	3.70	-2.51
Omega ratio: Gain probability vs. loss probability	1.15	1.46	-0.30
Calmar ratio: Return relative to maximum drawdown	1.72	5.08	-3.35
Martin ratio: Return relative to average drawdown	4.40	14.33	-9.93

EHLS vs. BOAT - Sharpe Ratio Comparison

The current EHLS Sharpe Ratio is 0.81, which is lower than the BOAT Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of EHLS and BOAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EHLS vs. BOAT - Drawdown Comparison

The maximum EHLS drawdown since its inception was -18.96%, smaller than the maximum BOAT drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for EHLS and BOAT.

Drawdown Indicators

	EHLS	BOAT	Difference
Max Drawdown Largest peak-to-trough decline	-18.96%	-33.94%	+14.98%
Max Drawdown (1Y) Largest decline over 1 year	-9.06%	-11.60%	+2.54%
Max Drawdown (3Y) Largest decline over 3 years	—	-33.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.94%	—
Current Drawdown Current decline from peak	-6.17%	-0.74%	-5.43%
Average Drawdown Average peak-to-trough decline	-4.42%	-9.51%	+5.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	4.10%	-0.56%

Volatility

EHLS vs. BOAT - Volatility Comparison

The current volatility for Even Herd Long Short ETF (EHLS) is 5.04%, while SonicShares Global Shipping ETF (BOAT) has a volatility of 7.09%. This indicates that EHLS experiences smaller price fluctuations and is considered to be less risky than BOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EHLS	BOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	7.09%	-2.05%
Volatility (6M) Calculated over the trailing 6-month period	14.84%	16.87%	-2.03%
Volatility (1Y) Calculated over the trailing 1-year period	19.19%	20.73%	-1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.56%	25.07%	-5.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.56%	25.07%	-5.51%

EHLS vs. BOAT - Expense Ratio Comparison

EHLS has a 1.58% expense ratio, which is higher than BOAT's 0.69% expense ratio.

Dividends

EHLS vs. BOAT - Dividend Comparison

EHLS has not paid dividends to shareholders, while BOAT's dividend yield for the trailing twelve months is around 6.35%.

Position	TTM	2025	2024	2023	2022	2021
BOAT SonicShares Global Shipping ETF	6.35%	8.08%	13.89%	13.65%	13.57%	1.36%
EHLS Even Herd Long Short ETF	0.00%	0.00%	1.03%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EHLS and BOAT in my portfolio?

EHLS and BOAT have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EHLS or BOAT?

BOAT has higher volatility (7.09%) compared to EHLS (5.04%). In terms of maximum drawdown, EHLS dropped -18.96% vs BOAT's -33.94%.

Which ETF is better, EHLS or BOAT?

On 1-year performance, BOAT leads with 59.34% vs 16.88% for EHLS. On fees, BOAT is cheaper at 0.69% per year. On volatility, EHLS has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EHLS or BOAT?

Over the 1-year period, BOAT has performed better with a 59.34% return vs 16.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EHLS or BOAT?

BOAT is cheaper with a 0.69% expense ratio, compared with 1.58% for EHLS.

Which ETF pays a higher dividend yield, EHLS or BOAT?

BOAT has the higher dividend yield at 6.35%, compared with 0.00% for EHLS.

What is the main difference between EHLS and BOAT?

EHLS is categorized as Long-Short, while BOAT is Industrials Equities. Their fees differ too: 1.58% for EHLS and 0.69% for BOAT.

Which has better risk-adjusted returns?

BOAT currently has the higher Sharpe Ratio (2.85 vs 0.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.