HELS vs. MKTN

Last updated Aug 6, 2026

HELS (Hedgeye 130/30 Equity ETF) and MKTN (Federated Hermes MDT Market Neutral ETF) are both exchange-traded funds - HELS is a Long-Short fund actively managed by Hedgeye, while MKTN is a Equity Market Neutral fund actively managed by Federated. Both are actively managed. Their -0.06 correlation means they have often moved in opposite directions in the past. HELS charges 0.70%/yr vs 1.94%/yr for MKTN.

Performance

HELS vs. MKTN - Performance Comparison

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

Returns By Period

In the year-to-date period, HELS achieves a -1.75% return, which is significantly lower than MKTN's 6.88% return.

HELS

• 1D: -0.35%
• 1M: -2.12%
• 6M: -6.15%
• YTD: -1.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

MKTN

• 1D: 0.44%
• 1M: 4.50%
• 6M: 7.74%
• YTD: 6.88%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HELS Hedgeye 130/30 Equity ETF	$184.77K	$173.29K	$282.83K
MKTN Federated Hermes MDT Market Neutral ETF	$750.17K	$507.61K	$623.44K

HELS vs. MKTN - Yearly Performance Comparison

	2026 (YTD)	2025
HELS Hedgeye 130/30 Equity ETF	-1.75%	-2.37%
MKTN Federated Hermes MDT Market Neutral ETF	6.88%	1.34%

Correlation

The correlation between HELS and MKTN is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	-0.06

Return for Risk

HELS vs. MKTN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hedgeye 130/30 Equity ETF (HELS) and Federated Hermes MDT Market Neutral ETF (MKTN). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

HELS vs. MKTN - Drawdown Comparison

The maximum HELS drawdown since its inception was -13.60%, which is greater than MKTN's maximum drawdown of -4.13%. Use the drawdown chart below to compare losses from any high point for HELS and MKTN.

Drawdown Indicators

	HELS	MKTN	Difference
Max Drawdown Largest peak-to-trough decline	-13.60%	-4.13%	-9.47%
Current Drawdown Current decline from peak	-7.94%	0.00%	-7.94%
Average Drawdown Average peak-to-trough decline	-5.84%	-1.07%	-4.77%

Volatility

Volatility by Period

	HELS	MKTN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	15.47%	6.67%	+8.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.47%	6.67%	+8.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.47%	6.67%	+8.80%

HELS vs. MKTN - Expense Ratio Comparison

HELS has a 0.70% expense ratio, which is lower than MKTN's 1.94% expense ratio.

Dividends

HELS vs. MKTN - Dividend Comparison

HELS's dividend yield for the trailing twelve months is around 0.02%, less than MKTN's 0.48% yield.

Position	TTM	2025
HELS Hedgeye 130/30 Equity ETF	0.02%	0.02%
MKTN Federated Hermes MDT Market Neutral ETF	0.48%	0.51%

Frequently Asked Questions

Can I hold both HELS and MKTN in my portfolio?

HELS and MKTN have a correlation of -0.06, 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 MKTN?

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.

Which ETF is cheaper, HELS or MKTN?

HELS is cheaper with a 0.70% expense ratio, compared with 1.94% for MKTN.

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

MKTN has the higher dividend yield at 0.48%, compared with 0.02% for HELS.

What is the main difference between HELS and MKTN?

HELS is categorized as Long-Short, while MKTN is Equity Market Neutral. They also come from different issuers: Hedgeye and Federated. Their fees differ too: 0.70% for HELS and 1.94% for MKTN.