HELS vs. EVNT
HELS (Hedgeye 130/30 Equity ETF) and EVNT (AltShares Event-Driven ETF) are both Long-Short funds. Both are actively managed. Their 0.10 correlation means their historical movements had little consistent relationship. HELS charges 0.70%/yr vs 1.30%/yr for EVNT.
Performance
HELS vs. EVNT - Performance Comparison
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Returns By Period
In the year-to-date period, HELS achieves a -1.75% return, which is significantly lower than EVNT's 6.85% return.
HELS
- 1D
- -0.35%
- 1M
- -2.12%
- 6M
- -6.15%
- YTD
- -1.75%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
EVNT
- 1D
- 0.05%
- 1M
- 2.03%
- 6M
- 6.48%
- YTD
- 6.85%
- 1Y
- 11.70%
- 3Y*
- 10.03%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.40K | $47.73K | $49.48K | |
| $184.77K | $173.29K | $282.83K |
HELS vs. EVNT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HELS Hedgeye 130/30 Equity ETF | -1.75% | -2.37% |
EVNT AltShares Event-Driven ETF | 6.85% | -0.12% |
Correlation
The correlation between HELS and EVNT is 0.10, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025 | 0.10 |
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Return for Risk
HELS vs. EVNT — Risk / Return Rank
HELS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EVNT
HELS vs. EVNT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hedgeye 130/30 Equity ETF (HELS) and AltShares Event-Driven ETF (EVNT). 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.
| HELS | EVNT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.34 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.51 | — |
| Martin ratioReturn relative to average drawdown | — | 11.52 | — |
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Drawdowns
HELS vs. EVNT - Drawdown Comparison
The maximum HELS drawdown since its inception was -13.60%, roughly equal to the maximum EVNT drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for HELS and EVNT.
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Drawdown Indicators
| HELS | EVNT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.60% | -13.85% | +0.25% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.35% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.15% | — |
Current DrawdownCurrent decline from peak | -7.94% | 0.00% | -7.94% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -3.67% | -2.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.02% | — |
Volatility
HELS vs. EVNT - Volatility Comparison
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Volatility by Period
| HELS | EVNT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.99% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.83% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.47% | 7.52% | +7.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.47% | 9.15% | +6.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.47% | 9.15% | +6.32% |
HELS vs. EVNT - Expense Ratio Comparison
HELS has a 0.70% expense ratio, which is lower than EVNT's 1.30% expense ratio.
Dividends
HELS vs. EVNT - Dividend Comparison
HELS's dividend yield for the trailing twelve months is around 0.02%, less than EVNT's 4.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
EVNT AltShares Event-Driven ETF | 4.47% | 4.78% | 0.66% | 0.59% | 2.61% |
HELS Hedgeye 130/30 Equity ETF | 0.02% | 0.02% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HELS and EVNT have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HELS is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HELS is cheaper with a 0.70% expense ratio, compared with 1.30% for EVNT.
EVNT has the higher dividend yield at 4.47%, compared with 0.02% for HELS.
They also come from different issuers: Hedgeye and Water Island. Their fees differ too: 0.70% for HELS and 1.30% for EVNT.
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