EVNT vs. HFSP

Last updated Aug 2, 2026

EVNT (AltShares Event-Driven ETF) and HFSP (TradersAI Large Cap Equity & Cash ETF) are both Long-Short funds. Both are actively managed. Over the past year, EVNT returned 11.18% vs -26.61% for HFSP. Their -0.08 correlation means they have often moved in opposite directions in the past. EVNT charges 1.30%/yr vs 1.25%/yr for HFSP.

Performance

EVNT vs. HFSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AltShares Event-Driven ETF (EVNT) and TradersAI Large Cap Equity & Cash ETF (HFSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVNT achieves a 6.02% return, which is significantly higher than HFSP's -13.00% return.

EVNT

• 1D: 0.24%
• 1M: 0.45%
• 6M: 5.89%
• YTD: 6.02%
• 1Y: 11.18%
• 3Y*: 9.71%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.00%

HFSP

• 1D: -2.86%
• 1M: -4.16%
• 6M: -13.42%
• YTD: -13.00%
• 1Y: -26.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -20.56%

*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)
EVNT AltShares Event-Driven ETF	$70.44K	$49.74K	$49.38K
HFSP TradersAI Large Cap Equity & Cash ETF	$263.78	$441.47	$507.97

EVNT vs. HFSP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EVNT AltShares Event-Driven ETF	6.02%	13.72%	0.82%
HFSP TradersAI Large Cap Equity & Cash ETF	-13.00%	-24.01%	0.75%

Correlation

The correlation between EVNT and HFSP 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 (1Y) Focuses on recent behavior, but can change the most.	-0.09
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	-0.08

Return for Risk

EVNT vs. HFSP — Risk / Return Rank

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

EVNT

EVNT Risk / Return Rank: 71
EVNT Sharpe Ratio Rank: 58
EVNT Sortino Ratio Rank: 62
EVNT Omega Ratio Rank: 70
EVNT Calmar Ratio Rank: 83
EVNT Martin Ratio Rank: 79

HFSP

HFSP Risk / Return Rank: 0
HFSP Sharpe Ratio Rank: 0
HFSP Sortino Ratio Rank: 1
HFSP Omega Ratio Rank: 0
HFSP Calmar Ratio Rank: 1
HFSP Martin Ratio Rank: 0

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.

EVNT vs. HFSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AltShares Event-Driven ETF (EVNT) and TradersAI Large Cap Equity & Cash ETF (HFSP). 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.

	EVNT	HFSP	Difference
Sharpe ratio: Return per unit of total volatility	1.38	-1.48	+2.86
Sortino ratio: Return per unit of downside risk	2.07	-1.97	+4.04
Omega ratio: Gain probability vs. loss probability	1.29	0.75	+0.55
Calmar ratio: Return relative to maximum drawdown	3.11	-0.92	+4.03
Martin ratio: Return relative to average drawdown	10.21	-1.52	+11.73

EVNT vs. HFSP - Sharpe Ratio Comparison

The current EVNT Sharpe Ratio is 1.38, which is higher than the HFSP Sharpe Ratio of -1.48. The chart below compares the historical Sharpe Ratios of EVNT and HFSP, 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

EVNT vs. HFSP - Drawdown Comparison

The maximum EVNT drawdown since its inception was -13.85%, smaller than the maximum HFSP drawdown of -37.30%. Use the drawdown chart below to compare losses from any high point for EVNT and HFSP.

Drawdown Indicators

	EVNT	HFSP	Difference
Max Drawdown Largest peak-to-trough decline	-13.85%	-37.30%	+23.45%
Max Drawdown (1Y) Largest decline over 1 year	-3.35%	-28.62%	+25.27%
Max Drawdown (3Y) Largest decline over 3 years	-5.15%	—	—
Current Drawdown Current decline from peak	-0.09%	-37.30%	+37.21%
Average Drawdown Average peak-to-trough decline	-3.68%	-18.61%	+14.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	17.31%	-16.29%

Volatility

EVNT vs. HFSP - Volatility Comparison

The current volatility for AltShares Event-Driven ETF (EVNT) is 1.47%, while TradersAI Large Cap Equity & Cash ETF (HFSP) has a volatility of 4.87%. This indicates that EVNT experiences smaller price fluctuations and is considered to be less risky than HFSP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVNT	HFSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	4.87%	-3.40%
Volatility (6M) Calculated over the trailing 6-month period	3.92%	12.41%	-8.49%
Volatility (1Y) Calculated over the trailing 1-year period	7.57%	17.81%	-10.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.16%	24.00%	-14.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.16%	24.00%	-14.84%

EVNT vs. HFSP - Expense Ratio Comparison

EVNT has a 1.30% expense ratio, which is higher than HFSP's 1.25% expense ratio.

Dividends

EVNT vs. HFSP - Dividend Comparison

EVNT's dividend yield for the trailing twelve months is around 4.51%, while HFSP has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
EVNT AltShares Event-Driven ETF	4.51%	4.78%	0.66%	0.59%	2.61%
HFSP TradersAI Large Cap Equity & Cash ETF	0.00%	0.00%	1.53%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVNT and HFSP in my portfolio?

EVNT and HFSP 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 is riskier, EVNT or HFSP?

HFSP has higher volatility (4.87%) compared to EVNT (1.47%). In terms of maximum drawdown, EVNT dropped -13.85% vs HFSP's -37.30%.

Which ETF is better, EVNT or HFSP?

On 1-year performance, EVNT leads with 11.18% vs -26.61% for HFSP. On fees, HFSP is cheaper at 1.25% per year. On volatility, EVNT has been the lower-risk option at 1.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EVNT or HFSP?

Over the 1-year period, EVNT has performed better with a 11.18% return vs -26.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EVNT or HFSP?

HFSP is cheaper with a 1.25% expense ratio, compared with 1.30% for EVNT.

Which ETF pays a higher dividend yield, EVNT or HFSP?

EVNT has the higher dividend yield at 4.51%, compared with 0.00% for HFSP.

What is the main difference between EVNT and HFSP?

They also come from different issuers: Water Island and Tidal. Their fees differ too: 1.30% for EVNT and 1.25% for HFSP.

Which has better risk-adjusted returns?

EVNT currently has the higher Sharpe Ratio (1.38 vs -1.48), 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.