EVNT vs. MOOD

Last updated Jun 24, 2026

EVNT (AltShares Event-Driven ETF) and MOOD (Relative Sentiment Tactical Allocation ETF) are both exchange-traded funds - EVNT is a Event Driven fund actively managed by AltShares, while MOOD is a Tactical Allocation fund actively managed by Relative Sentiment. Both are actively managed. Over the past 3 years, EVNT returned 10.66%/yr vs 19.98%/yr for MOOD. A 0.57 correlation means they provide meaningful diversification when combined. EVNT charges 1.30%/yr vs 0.73%/yr for MOOD.

Performance

EVNT vs. MOOD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AltShares Event-Driven ETF (EVNT) and Relative Sentiment Tactical Allocation ETF (MOOD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVNT achieves a 4.68% return, which is significantly lower than MOOD's 12.70% return.

EVNT

• 1D: 0.29%
• 1M: 1.68%
• YTD: 4.68%
• 6M: 4.48%
• 1Y: 11.02%
• 3Y*: 10.66%
• 5Y*: —
• 10Y*: —

MOOD

• 1D: -1.87%
• 1M: -0.20%
• YTD: 12.70%
• 6M: 11.32%
• 1Y: 33.13%
• 3Y*: 19.98%
• 5Y*: —
• 10Y*: —

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

EVNT vs. MOOD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EVNT AltShares Event-Driven ETF	4.68%	13.72%	5.13%	13.28%	-2.13%
MOOD Relative Sentiment Tactical Allocation ETF	12.70%	30.39%	12.53%	12.56%	-3.31%

Correlation

The correlation between EVNT and MOOD is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (All Time) Calculated using the full available price history since May 19, 2022	0.57

The correlation between EVNT and MOOD shifts across timeframes, from 0.38 (1 year) to 0.57 (all time), reflecting how their relationship changes across market environments.

EVNT vs. MOOD - Sectors Allocation Comparison

Sectors	EVNT	MOOD
Technology	29.2%	28.0%
Financial Services	18.3%	16.2%
Healthcare	14.8%	8.7%
Industrials	11.8%	13.0%
Utilities	4.0%	2.6%
Basic Materials	4.0%	4.4%
Energy	3.1%	3.6%
Real Estate	2.8%	2.6%
Communication Services	2.7%	7.1%
Consumer Defensive	2.1%	4.6%
Consumer Cyclical	1.0%	9.0%

Return for Risk

EVNT vs. MOOD — Risk / Return Rank

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

EVNT

EVNT Risk / Return Rank: 55
EVNT Sharpe Ratio Rank: 44
EVNT Sortino Ratio Rank: 47
EVNT Omega Ratio Rank: 52
EVNT Calmar Ratio Rank: 70
EVNT Martin Ratio Rank: 62

MOOD

MOOD Risk / Return Rank: 69
MOOD Sharpe Ratio Rank: 74
MOOD Sortino Ratio Rank: 60
MOOD Omega Ratio Rank: 78
MOOD Calmar Ratio Rank: 71
MOOD Martin Ratio Rank: 61

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.

EVNT vs. MOOD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AltShares Event-Driven ETF (EVNT) and Relative Sentiment Tactical Allocation ETF (MOOD). 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	MOOD	Difference
Sharpe ratio: Return per unit of total volatility	1.45	2.27	-0.82
Sortino ratio: Return per unit of downside risk	2.18	2.70	-0.52
Omega ratio: Gain probability vs. loss probability	1.31	1.44	-0.13
Calmar ratio: Return relative to maximum drawdown	3.31	3.43	-0.12
Martin ratio: Return relative to average drawdown	10.54	10.57	-0.02

EVNT vs. MOOD - Sharpe Ratio Comparison

The current EVNT Sharpe Ratio is 1.45, which is lower than the MOOD Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of EVNT and MOOD, 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. MOOD - Drawdown Comparison

The maximum EVNT drawdown since its inception was -13.85%, roughly equal to the maximum MOOD drawdown of -14.34%. Use the drawdown chart below to compare losses from any high point for EVNT and MOOD.

Drawdown Indicators

	EVNT	MOOD	Difference
Max Drawdown Largest peak-to-trough decline	-13.85%	-14.34%	+0.49%
Max Drawdown (1Y) Largest decline over 1 year	-3.35%	-9.71%	+6.36%
Max Drawdown (3Y) Largest decline over 3 years	-5.15%	-9.71%	+4.56%
Current Drawdown Current decline from peak	0.00%	-2.57%	+2.57%
Average Drawdown Average peak-to-trough decline	-3.76%	-2.31%	-1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	3.14%	-2.09%

Volatility

EVNT vs. MOOD - Volatility Comparison

The current volatility for AltShares Event-Driven ETF (EVNT) is 1.75%, while Relative Sentiment Tactical Allocation ETF (MOOD) has a volatility of 4.67%. This indicates that EVNT experiences smaller price fluctuations and is considered to be less risky than MOOD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVNT	MOOD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.75%	4.67%	-2.92%
Volatility (6M) Calculated over the trailing 6-month period	3.81%	12.97%	-9.16%
Volatility (1Y) Calculated over the trailing 1-year period	7.65%	14.69%	-7.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.23%	12.18%	-2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.23%	12.18%	-2.95%

EVNT vs. MOOD - Expense Ratio Comparison

EVNT has a 1.30% expense ratio, which is higher than MOOD's 0.73% expense ratio.

Dividends

EVNT vs. MOOD - Dividend Comparison

EVNT's dividend yield for the trailing twelve months is around 4.57%, more than MOOD's 0.36% yield.

Position	TTM	2025	2024	2023	2022
EVNT AltShares Event-Driven ETF	4.57%	4.78%	0.66%	0.59%	2.61%
MOOD Relative Sentiment Tactical Allocation ETF	0.36%	0.40%	1.33%	1.34%	1.43%

Frequently Asked Questions

Can I hold both EVNT and MOOD in my portfolio?

EVNT and MOOD have a correlation of 0.38, 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 MOOD?

MOOD has higher volatility (4.67%) compared to EVNT (1.75%). In terms of maximum drawdown, EVNT dropped -13.85% vs MOOD's -14.34%.

Which ETF is better, EVNT or MOOD?

On 3-year performance, MOOD leads with 19.98% vs 10.66% for EVNT. On fees, MOOD is cheaper at 0.73% per year. On volatility, EVNT has been the lower-risk option at 1.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EVNT or MOOD?

Over the 3-year period, MOOD has performed better with a 19.98% return vs 10.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EVNT or MOOD?

MOOD is cheaper with a 0.73% expense ratio, compared with 1.30% for EVNT.

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

EVNT has the higher dividend yield at 4.57%, compared with 0.36% for MOOD.

What is the main difference between EVNT and MOOD?

EVNT is categorized as Event Driven, while MOOD is Tactical Allocation. They also come from different issuers: AltShares and Relative Sentiment. Their fees differ too: 1.30% for EVNT and 0.73% for MOOD.

Which has better risk-adjusted returns?

MOOD currently has the higher Sharpe Ratio (2.27 vs 1.45), 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.