EMPB vs. HFEQ

Last updated Aug 1, 2026

EMPB (Efficient Market Portfolio Plus ETF) and HFEQ (Unlimited HFEQ Equity Long/Short ETF) are both Long-Short funds. Both are actively managed. Their 0.56 correlation means they have sometimes moved together and sometimes differently. EMPB charges 1.82%/yr vs 1.00%/yr for HFEQ.

Performance

EMPB vs. HFEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Efficient Market Portfolio Plus ETF (EMPB) and Unlimited HFEQ Equity Long/Short ETF (HFEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EMPB

• 1D: 1.10%
• 1M: 1.13%
• 6M: 14.24%
• YTD: 14.62%
• 1Y: 17.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.65%

HFEQ

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
EMPB Efficient Market Portfolio Plus ETF	$259.83K	$233.39K	$230.26K

EMPB vs. HFEQ - Yearly Performance Comparison

	2026 (YTD)	2025
EMPB Efficient Market Portfolio Plus ETF	14.62%	1.98%
HFEQ Unlimited HFEQ Equity Long/Short ETF	9.98%	14.35%

Correlation

The correlation between EMPB and HFEQ is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.56

The correlation between EMPB and HFEQ has been stable across timeframes, ranging from 0.56 to 0.57 - a consistent structural relationship.

Return for Risk

EMPB vs. HFEQ — Risk / Return Rank

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

EMPB

EMPB Risk / Return Rank: 66
EMPB Sharpe Ratio Rank: 62
EMPB Sortino Ratio Rank: 62
EMPB Omega Ratio Rank: 60
EMPB Calmar Ratio Rank: 79
EMPB Martin Ratio Rank: 66

HFEQ

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

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.

EMPB vs. HFEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Efficient Market Portfolio Plus ETF (EMPB) and Unlimited HFEQ Equity Long/Short ETF (HFEQ). 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.

	EMPB	HFEQ	Difference
Sharpe ratio: Return per unit of total volatility	1.44	—	—
Sortino ratio: Return per unit of downside risk	2.07	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.81	—	—
Martin ratio: Return relative to average drawdown	8.07	—	—

Drawdowns

Drawdown Indicators

	EMPB	HFEQ	Difference
Max Drawdown Largest peak-to-trough decline	-7.55%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-5.98%	—	—
Current Drawdown Current decline from peak	-0.76%	—	—
Average Drawdown Average peak-to-trough decline	-1.44%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	—	—

Volatility

Volatility by Period

	EMPB	HFEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.07%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.67%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.72%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.72%	—	—

EMPB vs. HFEQ - Expense Ratio Comparison

EMPB has a 1.82% expense ratio, which is higher than HFEQ's 1.00% expense ratio.

Dividends

EMPB vs. HFEQ - Dividend Comparison

EMPB's dividend yield for the trailing twelve months is around 0.77%, while HFEQ has not paid dividends to shareholders.

Position	TTM	2025	2024
EMPB Efficient Market Portfolio Plus ETF	0.77%	0.88%	0.28%
HFEQ Unlimited HFEQ Equity Long/Short ETF	9.59%	10.55%	0.00%

Frequently Asked Questions

Can I hold both EMPB and HFEQ in my portfolio?

EMPB and HFEQ have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EMPB or HFEQ?

On fees, HFEQ is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMPB or HFEQ?

HFEQ is cheaper with a 1.00% expense ratio, compared with 1.82% for EMPB.

Which ETF pays a higher dividend yield, EMPB or HFEQ?

HFEQ has the higher dividend yield at 9.59%, compared with 0.77% for EMPB.

What is the main difference between EMPB and HFEQ?

They also come from different issuers: NextGen EMP and Unlimited. Their fees differ too: 1.82% for EMPB and 1.00% for HFEQ.