FHEQ vs. ONEH
FHEQ (Fidelity Hedged Equity ETF) and ONEH (TrueShares Equity Hedge ETF) are both Equity Hedged funds. Both are actively managed. At a 0.21 correlation, their price movements are largely independent. FHEQ charges 0.48%/yr vs 0.79%/yr for ONEH.
Performance
FHEQ vs. ONEH - Performance Comparison
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Returns By Period
FHEQ
- 1D
- -1.15%
- 1M
- -1.23%
- YTD
- 6.23%
- 6M
- 5.31%
- 1Y
- 17.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ONEH
- 1D
- 0.14%
- 1M
- 0.90%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FHEQ vs. ONEH - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
FHEQ Fidelity Hedged Equity ETF | 5.18% |
ONEH TrueShares Equity Hedge ETF | -1.06% |
Correlation
The correlation between FHEQ and ONEH is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 29, 2026 | 0.21 |
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Return for Risk
FHEQ vs. ONEH — Risk / Return Rank
FHEQ
ONEH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FHEQ vs. ONEH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Hedged Equity ETF (FHEQ) and TrueShares Equity Hedge ETF (ONEH). 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.
| FHEQ | ONEH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.31 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | — | — |
| Martin ratioReturn relative to average drawdown | 8.65 | — | — |
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Drawdowns
FHEQ vs. ONEH - Drawdown Comparison
The maximum FHEQ drawdown since its inception was -11.12%, which is greater than ONEH's maximum drawdown of -3.55%. Use the drawdown chart below to compare losses from any high point for FHEQ and ONEH.
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Drawdown Indicators
| FHEQ | ONEH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.12% | -3.55% | -7.57% |
Max Drawdown (1Y)Largest decline over 1 year | -7.77% | — | — |
Current DrawdownCurrent decline from peak | -2.84% | -1.06% | -1.78% |
Average DrawdownAverage peak-to-trough decline | -1.83% | -1.50% | -0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | — | — |
Volatility
FHEQ vs. ONEH - Volatility Comparison
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Volatility by Period
| FHEQ | ONEH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.02% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 7.46% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 9.98% | 5.36% | +4.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.57% | 5.36% | +5.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.57% | 5.36% | +5.21% |
FHEQ vs. ONEH - Expense Ratio Comparison
FHEQ has a 0.48% expense ratio, which is lower than ONEH's 0.79% expense ratio.
Dividends
FHEQ vs. ONEH - Dividend Comparison
FHEQ's dividend yield for the trailing twelve months is around 0.55%, while ONEH has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FHEQ Fidelity Hedged Equity ETF | 0.55% | 0.63% | 0.50% |
ONEH TrueShares Equity Hedge ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FHEQ and ONEH have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FHEQ is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FHEQ is cheaper with a 0.48% expense ratio, compared with 0.79% for ONEH.
FHEQ has the higher dividend yield at 0.55%, compared with 0.00% for ONEH.
They also come from different issuers: Fidelity and TrueShares. Their fees differ too: 0.48% for FHEQ and 0.79% for ONEH.
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