HECA vs. NTSI

Last updated Jul 15, 2026

HECA (Hedgeye Capital Allocation ETF) and NTSI (WisdomTree International Efficient Core Fund) are both Global Allocation funds. Both are actively managed. Over the past year, HECA returned 11.08% vs 19.82% for NTSI. At a 0.44 correlation, their price movements are largely independent. HECA charges 1.02%/yr vs 0.26%/yr for NTSI.

Performance

HECA vs. NTSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hedgeye Capital Allocation ETF (HECA) and WisdomTree International Efficient Core Fund (NTSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HECA achieves a -1.05% return, which is significantly lower than NTSI's 7.95% return.

HECA

• 1D: 0.37%
• 1M: 0.59%
• 6M: -4.87%
• YTD: -1.05%
• 1Y: 11.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NTSI

• 1D: 0.80%
• 1M: 0.27%
• 6M: 5.60%
• YTD: 7.95%
• 1Y: 19.82%
• 3Y*: 13.57%
• 5Y*: 5.94%
• 10Y*: —

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

HECA vs. NTSI - Yearly Performance Comparison

	2026 (YTD)	2025
HECA Hedgeye Capital Allocation ETF	-1.05%	12.83%
NTSI WisdomTree International Efficient Core Fund	7.95%	9.90%

Correlation

The correlation between HECA and NTSI is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.44

Return for Risk

HECA vs. NTSI — Risk / Return Rank

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

HECA

HECA Risk / Return Rank: 26
HECA Sharpe Ratio Rank: 30
HECA Sortino Ratio Rank: 29
HECA Omega Ratio Rank: 29
HECA Calmar Ratio Rank: 22
HECA Martin Ratio Rank: 20

NTSI

NTSI Risk / Return Rank: 43
NTSI Sharpe Ratio Rank: 45
NTSI Sortino Ratio Rank: 44
NTSI Omega Ratio Rank: 43
NTSI Calmar Ratio Rank: 40
NTSI Martin Ratio Rank: 44

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.

HECA vs. NTSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hedgeye Capital Allocation ETF (HECA) and WisdomTree International Efficient Core Fund (NTSI). 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.

	HECA	NTSI	Difference
Sharpe ratio: Return per unit of total volatility	0.89	1.29	-0.39
Sortino ratio: Return per unit of downside risk	1.32	1.82	-0.50
Omega ratio: Gain probability vs. loss probability	1.17	1.23	-0.06
Calmar ratio: Return relative to maximum drawdown	0.87	1.61	-0.75
Martin ratio: Return relative to average drawdown	1.85	5.77	-3.93

HECA vs. NTSI - Sharpe Ratio Comparison

The current HECA Sharpe Ratio is 0.89, which is lower than the NTSI Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of HECA and NTSI, 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

HECA vs. NTSI - Drawdown Comparison

The maximum HECA drawdown since its inception was -12.82%, smaller than the maximum NTSI drawdown of -34.01%. Use the drawdown chart below to compare losses from any high point for HECA and NTSI.

Drawdown Indicators

	HECA	NTSI	Difference
Max Drawdown Largest peak-to-trough decline	-12.82%	-34.01%	+21.19%
Max Drawdown (1Y) Largest decline over 1 year	-12.82%	-12.33%	-0.49%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.01%	—
Current Drawdown Current decline from peak	-11.23%	-1.66%	-9.57%
Average Drawdown Average peak-to-trough decline	-4.03%	-9.03%	+5.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.01%	3.44%	+2.57%

Volatility

HECA vs. NTSI - Volatility Comparison

The current volatility for Hedgeye Capital Allocation ETF (HECA) is 1.57%, while WisdomTree International Efficient Core Fund (NTSI) has a volatility of 3.48%. This indicates that HECA experiences smaller price fluctuations and is considered to be less risky than NTSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HECA	NTSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.57%	3.48%	-1.91%
Volatility (6M) Calculated over the trailing 6-month period	8.52%	13.40%	-4.88%
Volatility (1Y) Calculated over the trailing 1-year period	12.44%	15.49%	-3.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.28%	15.81%	-3.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.28%	15.65%	-3.37%

HECA vs. NTSI - Expense Ratio Comparison

HECA has a 1.02% expense ratio, which is higher than NTSI's 0.26% expense ratio.

Dividends

HECA vs. NTSI - Dividend Comparison

HECA's dividend yield for the trailing twelve months is around 2.04%, less than NTSI's 3.52% yield.

Position	TTM	2025	2024	2023	2022	2021
HECA Hedgeye Capital Allocation ETF	2.04%	2.02%	0.00%	0.00%	0.00%	0.00%
NTSI WisdomTree International Efficient Core Fund	3.52%	3.65%	2.92%	2.35%	2.66%	0.97%

Frequently Asked Questions

Can I hold both HECA and NTSI in my portfolio?

HECA and NTSI have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HECA or NTSI?

NTSI has higher volatility (3.48%) compared to HECA (1.57%). In terms of maximum drawdown, HECA dropped -12.82% vs NTSI's -34.01%.

Which ETF is better, HECA or NTSI?

On 1-year performance, NTSI leads with 19.82% vs 11.08% for HECA. On fees, NTSI is cheaper at 0.26% per year. On volatility, HECA has been the lower-risk option at 1.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HECA or NTSI?

Over the 1-year period, NTSI has performed better with a 19.82% return vs 11.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HECA or NTSI?

NTSI is cheaper with a 0.26% expense ratio, compared with 1.02% for HECA.

Which ETF pays a higher dividend yield, HECA or NTSI?

NTSI has the higher dividend yield at 3.52%, compared with 2.04% for HECA.

What is the main difference between HECA and NTSI?

They also come from different issuers: Hedgeye and WisdomTree. Their fees differ too: 1.02% for HECA and 0.26% for NTSI.

Which has better risk-adjusted returns?

NTSI currently has the higher Sharpe Ratio (1.29 vs 0.89), 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.