FTLS vs. DBEH

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Long/Short Equity ETF (FTLS) and iM DBi Hedge Strategy ETF (DBEH).

FTLS and DBEH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FTLS is an actively managed fund by First Trust. It was launched on Sep 9, 2014. DBEH is an actively managed fund by Litman Gregory Capital Partners LLC. It was launched on Dec 18, 2019.

Performance

FTLS vs. DBEH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Long/Short Equity ETF (FTLS) and iM DBi Hedge Strategy ETF (DBEH). The values are adjusted to include any dividend payments, if applicable.

FTLS vs. DBEH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FTLS First Trust Long/Short Equity ETF	-0.80%	9.09%	18.80%	16.94%	-5.56%	19.65%	2.56%	0.31%
DBEH iM DBi Hedge Strategy ETF	0.00%	0.00%	5.57%	7.23%	-6.05%	4.95%	23.41%	0.05%

Returns By Period

FTLS

• 1D: 1.32%
• 1M: -1.17%
• YTD: -0.80%
• 6M: 0.98%
• 1Y: 10.88%
• 3Y*: 12.98%
• 5Y*: 9.94%
• 10Y*: 9.10%

DBEH

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

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

FTLS vs. DBEH - Expense Ratio Comparison

FTLS has a 1.60% expense ratio, which is higher than DBEH's 0.85% expense ratio.

FTLS

First Trust Long/Short Equity ETF

DBEH

iM DBi Hedge Strategy ETF

Return for Risk

FTLS vs. DBEH — Risk / Return Rank

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

FTLS

FTLS Risk / Return Rank: 68
FTLS Sharpe Ratio Rank: 62
FTLS Sortino Ratio Rank: 63
FTLS Omega Ratio Rank: 59
FTLS Calmar Ratio Rank: 76
FTLS Martin Ratio Rank: 78

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.

FTLS vs. DBEH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Long/Short Equity ETF (FTLS) and iM DBi Hedge Strategy ETF (DBEH). 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.

	FTLS	DBEH	Difference
Sharpe ratio Return per unit of total volatility	1.04	—	—
Sortino ratio Return per unit of downside risk	1.56	—	—
Omega ratio Gain probability vs. loss probability	1.21	—	—
Calmar ratio Return relative to maximum drawdown	1.90	—	—
Martin ratio Return relative to average drawdown	8.02	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FTLS	DBEH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	—	—

Correlation

The correlation between FTLS and DBEH is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FTLS vs. DBEH - Dividend Comparison

FTLS's dividend yield for the trailing twelve months is around 0.95%, while DBEH has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTLS First Trust Long/Short Equity ETF	0.95%	1.07%	1.50%	1.49%	0.81%	0.01%	0.44%	0.83%	0.87%	0.43%	1.04%	0.49%
DBEH iM DBi Hedge Strategy ETF	0.00%	0.00%	2.66%	3.05%	1.54%	17.43%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	FTLS	DBEH	Difference
Max Drawdown Largest peak-to-trough decline	-20.54%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-6.17%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.69%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-20.54%	—	—
Current Drawdown Current decline from peak	-2.34%	—	—
Average Drawdown Average peak-to-trough decline	-2.73%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.49%	—	—

Volatility

Volatility by Period

	FTLS	DBEH	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.53%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.50%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.65%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.31%	—	—