HEFT vs. ORR
Compare and contrast key facts about Hedgeye Fourth Turning ETF (HEFT) and Militia Long/Short Equity ETF (ORR).
HEFT and ORR 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. ORR is an actively managed fund by Militia Investments. It was launched on Jan 14, 2025.
Performance
HEFT vs. ORR - Performance Comparison
Loading graphics...
HEFT vs. ORR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HEFT Hedgeye Fourth Turning ETF | 5.30% | 0.98% |
ORR Militia Long/Short Equity ETF | 6.70% | 3.79% |
Returns By Period
In the year-to-date period, HEFT achieves a 5.30% return, which is significantly lower than ORR's 6.70% return.
HEFT
- 1D
- -0.30%
- 1M
- -3.18%
- YTD
- 5.30%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ORR
- 1D
- 1.42%
- 1M
- -6.73%
- YTD
- 6.70%
- 6M
- 15.81%
- 1Y
- 30.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
HEFT vs. ORR - Expense Ratio Comparison
HEFT has a 0.70% expense ratio, which is lower than ORR's 14.19% expense ratio.
Return for Risk
HEFT vs. ORR — Risk / Return Rank
HEFT
ORR
HEFT vs. ORR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hedgeye Fourth Turning ETF (HEFT) and Militia Long/Short Equity ETF (ORR). 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.
Loading graphics...
Sharpe Ratios by Period
| HEFT | ORR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.01 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.46 | 2.22 | -0.76 |
Correlation
The correlation between HEFT and ORR is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
HEFT vs. ORR - Dividend Comparison
HEFT's dividend yield for the trailing twelve months is around 0.02%, while ORR has not paid dividends to shareholders.
| TTM | 2025 | |
|---|---|---|
HEFT Hedgeye Fourth Turning ETF | 0.02% | 0.02% |
ORR Militia Long/Short Equity ETF | 0.00% | 0.00% |
Drawdowns
HEFT vs. ORR - Drawdown Comparison
The maximum HEFT drawdown since its inception was -6.57%, smaller than the maximum ORR drawdown of -8.64%. Use the drawdown chart below to compare losses from any high point for HEFT and ORR.
Loading graphics...
Drawdown Indicators
| HEFT | ORR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.57% | -8.64% | +2.07% |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.42% | — |
Current DrawdownCurrent decline from peak | -5.00% | -6.73% | +1.73% |
Average DrawdownAverage peak-to-trough decline | -1.97% | -1.52% | -0.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.43% | — |
Volatility
HEFT vs. ORR - Volatility Comparison
Loading graphics...
Volatility by Period
| HEFT | ORR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.51% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 9.77% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.44% | 15.45% | -2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.44% | 15.01% | -1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.44% | 15.01% | -1.57% |