HEFT vs. EHLS
Compare and contrast key facts about Hedgeye Fourth Turning ETF (HEFT) and Even Herd Long Short ETF (EHLS).
HEFT and EHLS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HEFT is an actively managed fund by Hedgeye. It was launched on Nov 20, 2025. EHLS is an actively managed fund by N/A. It was launched on Apr 1, 2024.
Performance
HEFT vs. EHLS - Performance Comparison
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HEFT vs. EHLS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HEFT Hedgeye Fourth Turning ETF | 5.30% | 0.98% |
EHLS Even Herd Long Short ETF | 6.23% | 4.78% |
Returns By Period
In the year-to-date period, HEFT achieves a 5.30% return, which is significantly lower than EHLS's 6.23% return.
HEFT
- 1D
- -0.30%
- 1M
- -3.18%
- YTD
- 5.30%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EHLS
- 1D
- 3.03%
- 1M
- -3.88%
- YTD
- 6.23%
- 6M
- 6.41%
- 1Y
- 24.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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HEFT vs. EHLS - Expense Ratio Comparison
HEFT has a 0.70% expense ratio, which is lower than EHLS's 1.58% expense ratio.
Return for Risk
HEFT vs. EHLS — Risk / Return Rank
HEFT
EHLS
HEFT vs. EHLS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hedgeye Fourth Turning ETF (HEFT) and Even Herd Long Short ETF (EHLS). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| HEFT | EHLS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.26 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.46 | 0.63 | +0.83 |
Correlation
The correlation between HEFT and EHLS is 0.57, 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
HEFT vs. EHLS - Dividend Comparison
HEFT's dividend yield for the trailing twelve months is around 0.02%, while EHLS has not paid dividends to shareholders.
| TTM | 2025 | 2024 | |
|---|---|---|---|
HEFT Hedgeye Fourth Turning ETF | 0.02% | 0.02% | 0.00% |
EHLS Even Herd Long Short ETF | 0.00% | 0.00% | 1.03% |
Drawdowns
HEFT vs. EHLS - Drawdown Comparison
The maximum HEFT drawdown since its inception was -6.57%, smaller than the maximum EHLS drawdown of -18.96%. Use the drawdown chart below to compare losses from any high point for HEFT and EHLS.
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Drawdown Indicators
| HEFT | EHLS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.57% | -18.96% | +12.39% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.06% | — |
Current DrawdownCurrent decline from peak | -5.00% | -5.58% | +0.58% |
Average DrawdownAverage peak-to-trough decline | -1.97% | -4.71% | +2.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.09% | — |
Volatility
HEFT vs. EHLS - Volatility Comparison
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Volatility by Period
| HEFT | EHLS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.93% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 15.78% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.44% | 19.19% | -5.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.44% | 20.00% | -6.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.44% | 20.00% | -6.56% |