HELS vs. HEFT

Last updated Jun 6, 2026

HELS (Hedgeye 130/30 Equity ETF) and HEFT (Hedgeye Fourth Turning ETF) are both Long-Short funds from Hedgeye. Both are actively managed. A 0.64 correlation means they provide meaningful diversification when combined. Both charge a 0.70% expense ratio.

Performance

HELS vs. HEFT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hedgeye 130/30 Equity ETF (HELS) and Hedgeye Fourth Turning ETF (HEFT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HELS achieves a -2.32% return, which is significantly lower than HEFT's 3.66% return.

HELS

• 1D: -3.38%
• 1M: -2.04%
• YTD: -2.32%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HEFT

• 1D: -3.90%
• 1M: -1.26%
• YTD: 3.66%
• 6M: 3.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HELS vs. HEFT - Yearly Performance Comparison

	2026 (YTD)	2025
HELS Hedgeye 130/30 Equity ETF	-2.32%	-2.83%
HEFT Hedgeye Fourth Turning ETF	3.66%	-1.15%

Correlation

The correlation between HELS and HEFT is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.64

Return for Risk

HELS vs. HEFT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hedgeye 130/30 Equity ETF (HELS) and Hedgeye Fourth Turning ETF (HEFT). 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.

Sharpe Ratios by Period

	HELS	HEFT	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.63	0.67	-1.29

Drawdowns

HELS vs. HEFT - Drawdown Comparison

The maximum HELS drawdown since its inception was -13.60%, which is greater than HEFT's maximum drawdown of -9.17%. Use the drawdown chart below to compare losses from any high point for HELS and HEFT.

Drawdown Indicators

	HELS	HEFT	Difference
Max Drawdown Largest peak-to-trough decline	-13.60%	-9.17%	-4.43%
Current Drawdown Current decline from peak	-8.47%	-6.47%	-2.00%
Average Drawdown Average peak-to-trough decline	-5.58%	-3.15%	-2.43%

Volatility

Volatility by Period

	HELS	HEFT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.66%	13.58%	+3.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.66%	13.58%	+3.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.66%	13.58%	+3.08%

HELS vs. HEFT - Expense Ratio Comparison

Both HELS and HEFT have an expense ratio of 0.70%.

Dividends

HELS vs. HEFT - Dividend Comparison

HELS's dividend yield for the trailing twelve months is around 0.02%, which matches HEFT's 0.02% yield.

Position	TTM	2025
HEFT Hedgeye Fourth Turning ETF	0.02%	0.02%
HELS Hedgeye 130/30 Equity ETF	0.02%	0.02%

Frequently Asked Questions

Can I hold both HELS and HEFT in my portfolio?

HELS and HEFT have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HELS or HEFT?

Both ETFs have the same 0.70% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HELS or HEFT?

HELS and HEFT have the same expense ratio: 0.70% per year.

Which ETF pays a higher dividend yield, HELS or HEFT?

HELS and HEFT have nearly identical dividend yields, around 0.02%.