EHLS vs. RSEE

Last updated Jun 24, 2026

EHLS (Even Herd Long Short ETF) and RSEE (Rareview Systematic Equity ETF) are both Long-Short funds. Both are actively managed. Over the past year, EHLS returned 22.11% vs 32.53% for RSEE. A 0.62 correlation means they provide meaningful diversification when combined. EHLS charges 1.58%/yr vs 1.27%/yr for RSEE.

Performance

EHLS vs. RSEE - Performance Comparison

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

Returns By Period

In the year-to-date period, EHLS achieves a 14.25% return, which is significantly higher than RSEE's 12.65% return.

EHLS

• 1D: -0.63%
• 1M: -1.19%
• YTD: 14.25%
• 6M: 12.13%
• 1Y: 22.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RSEE

• 1D: -2.89%
• 1M: -0.47%
• YTD: 12.65%
• 6M: 11.67%
• 1Y: 32.53%
• 3Y*: 17.96%
• 5Y*: —
• 10Y*: —

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

EHLS vs. RSEE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EHLS Even Herd Long Short ETF	14.25%	6.67%	12.31%
RSEE Rareview Systematic Equity ETF	12.65%	20.54%	11.74%

Correlation

The correlation between EHLS and RSEE is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.63

The correlation between EHLS and RSEE has been stable across timeframes, ranging from 0.62 to 0.62 - a consistent structural relationship.

EHLS vs. RSEE - Sectors Allocation Comparison

Sectors	EHLS	RSEE
Financial Services	14.7%	13.1%
Industrials	13.3%	11.1%
Technology	13.2%	32.5%
Energy	10.8%	3.6%
Healthcare	9.8%	7.3%
Basic Materials	8.9%	4.0%
Utilities	7.4%	2.5%
Real Estate	6.3%	2.3%
Consumer Cyclical	5.3%	9.9%
Communication Services	5.3%	8.7%
Consumer Defensive	5.0%	5.1%

Return for Risk

EHLS vs. RSEE — Risk / Return Rank

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

EHLS

EHLS Risk / Return Rank: 40
EHLS Sharpe Ratio Rank: 35
EHLS Sortino Ratio Rank: 32
EHLS Omega Ratio Rank: 34
EHLS Calmar Ratio Rank: 53
EHLS Martin Ratio Rank: 46

RSEE

RSEE Risk / Return Rank: 56
RSEE Sharpe Ratio Rank: 56
RSEE Sortino Ratio Rank: 53
RSEE Omega Ratio Rank: 53
RSEE Calmar Ratio Rank: 55
RSEE Martin Ratio Rank: 62

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.

EHLS vs. RSEE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Even Herd Long Short ETF (EHLS) and Rareview Systematic Equity ETF (RSEE). 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	RSEE	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.74	-0.57
Sortino ratio: Return per unit of downside risk	1.60	2.36	-0.76
Omega ratio: Gain probability vs. loss probability	1.22	1.31	-0.09
Calmar ratio: Return relative to maximum drawdown	2.45	2.54	-0.09
Martin ratio: Return relative to average drawdown	7.06	10.23	-3.17

EHLS vs. RSEE - Sharpe Ratio Comparison

The current EHLS Sharpe Ratio is 1.17, which is lower than the RSEE Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of EHLS and RSEE, 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. RSEE - Drawdown Comparison

The maximum EHLS drawdown since its inception was -18.96%, smaller than the maximum RSEE drawdown of -21.60%. Use the drawdown chart below to compare losses from any high point for EHLS and RSEE.

Drawdown Indicators

	EHLS	RSEE	Difference
Max Drawdown Largest peak-to-trough decline	-18.96%	-21.60%	+2.64%
Max Drawdown (1Y) Largest decline over 1 year	-9.06%	-12.89%	+3.83%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.60%	—
Current Drawdown Current decline from peak	-2.68%	-3.77%	+1.09%
Average Drawdown Average peak-to-trough decline	-4.39%	-3.77%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	3.19%	-0.05%

Volatility

EHLS vs. RSEE - Volatility Comparison

The current volatility for Even Herd Long Short ETF (EHLS) is 4.57%, while Rareview Systematic Equity ETF (RSEE) has a volatility of 8.04%. This indicates that EHLS experiences smaller price fluctuations and is considered to be less risky than RSEE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EHLS	RSEE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.57%	8.04%	-3.47%
Volatility (6M) Calculated over the trailing 6-month period	14.56%	15.53%	-0.97%
Volatility (1Y) Calculated over the trailing 1-year period	18.94%	18.84%	+0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.68%	19.22%	+0.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.68%	19.22%	+0.46%

EHLS vs. RSEE - Expense Ratio Comparison

EHLS has a 1.58% expense ratio, which is higher than RSEE's 1.27% expense ratio.

Dividends

EHLS vs. RSEE - Dividend Comparison

Neither EHLS nor RSEE has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
EHLS Even Herd Long Short ETF	0.00%	0.00%	1.03%	0.00%	0.00%
RSEE Rareview Systematic Equity ETF	0.00%	0.24%	9.02%	0.84%	1.97%

Frequently Asked Questions

Can I hold both EHLS and RSEE in my portfolio?

EHLS and RSEE have a correlation of 0.62, 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 RSEE?

RSEE has higher volatility (8.04%) compared to EHLS (4.57%). In terms of maximum drawdown, EHLS dropped -18.96% vs RSEE's -21.60%.

Which ETF is better, EHLS or RSEE?

On 1-year performance, RSEE leads with 32.53% vs 22.11% for EHLS. On fees, RSEE is cheaper at 1.27% per year. On volatility, EHLS has been the lower-risk option at 4.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EHLS or RSEE?

Over the 1-year period, RSEE has performed better with a 32.53% return vs 22.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EHLS or RSEE?

RSEE is cheaper with a 1.27% expense ratio, compared with 1.58% for EHLS.

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

EHLS and RSEE have nearly identical dividend yields, around 0.00%.

What is the main difference between EHLS and RSEE?

They also come from different issuers: N/A and Rareview Funds. Their fees differ too: 1.58% for EHLS and 1.27% for RSEE.

Which has better risk-adjusted returns?

RSEE currently has the higher Sharpe Ratio (1.74 vs 1.17), 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.