EQL vs. EQLS

Last updated Aug 2, 2026

EQL (ALPS Equal Sector Weight ETF) and EQLS (Simplify Market Neutral Equity Long/Short ETF) are both exchange-traded funds - EQL is a Large Cap Blend Equities fund tracking the NYSE Equal Sector Weight Index, while EQLS is a Long-Short fund actively managed by Simplify. EQL is passively managed, while EQLS is actively managed. Their -0.09 correlation means they have often moved in opposite directions in the past. EQL charges 0.27%/yr vs 1.00%/yr for EQLS.

Performance

EQL vs. EQLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Equal Sector Weight ETF (EQL) and Simplify Market Neutral Equity Long/Short ETF (EQLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EQL

• 1D: 0.57%
• 1M: 0.31%
• 6M: 6.82%
• YTD: 10.71%
• 1Y: 18.34%
• 3Y*: 14.59%
• 5Y*: 10.63%
• 10Y*: 12.39%
• ALL TIME*: 13.49%

EQLS

• 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)
EQL ALPS Equal Sector Weight ETF	$3.33M	$2.84M	$2.70M

EQL vs. EQLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EQL ALPS Equal Sector Weight ETF	10.71%	13.09%	16.44%	8.14%
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	6.82%	-4.82%	-3.67%

Correlation

The correlation between EQL and EQLS is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	-0.08
Correlation (All Time) Calculated using the full available price history since Jun 14, 2023	-0.09

Return for Risk

EQL vs. EQLS — Risk / Return Rank

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

EQL

EQL Risk / Return Rank: 79
EQL Sharpe Ratio Rank: 80
EQL Sortino Ratio Rank: 79
EQL Omega Ratio Rank: 78
EQL Calmar Ratio Rank: 78
EQL Martin Ratio Rank: 82

EQLS

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.

EQL vs. EQLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Equal Sector Weight ETF (EQL) and Simplify Market Neutral Equity Long/Short ETF (EQLS). 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.

	EQL	EQLS	Difference
Sharpe ratio: Return per unit of total volatility	1.82	—	—
Sortino ratio: Return per unit of downside risk	2.54	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	2.78	—	—
Martin ratio: Return relative to average drawdown	10.89	—	—

Drawdowns

Drawdown Indicators

	EQL	EQLS	Difference
Max Drawdown Largest peak-to-trough decline	-35.65%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-6.19%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.07%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.65%	—	—
Current Drawdown Current decline from peak	-0.27%	—	—
Average Drawdown Average peak-to-trough decline	-3.23%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	—	—

Volatility

Volatility by Period

	EQL	EQLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.23%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.03%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.50%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.51%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.49%	—	—

EQL vs. EQLS - Expense Ratio Comparison

EQL has a 0.27% expense ratio, which is lower than EQLS's 1.00% expense ratio.

Dividends

EQL vs. EQLS - Dividend Comparison

EQL's dividend yield for the trailing twelve months is around 1.35%, while EQLS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQL ALPS Equal Sector Weight ETF	1.35%	1.73%	1.78%	1.96%	2.14%	1.69%	2.29%	1.95%	2.39%	1.97%	2.89%	2.07%
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	0.45%	0.95%	8.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EQL and EQLS in my portfolio?

EQL and EQLS have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EQL or EQLS?

On fees, EQL is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EQL or EQLS?

EQL is cheaper with a 0.27% expense ratio, compared with 1.00% for EQLS.

Which ETF pays a higher dividend yield, EQL or EQLS?

EQL has the higher dividend yield at 1.35%, compared with 0.00% for EQLS.

What is the main difference between EQL and EQLS?

EQL is categorized as Large Cap Blend Equities, while EQLS is Long-Short. They also come from different issuers: SS&C and Simplify. Their fees differ too: 0.27% for EQL and 1.00% for EQLS.