HELS vs. MKTN

Last updated Jun 25, 2026

HELS (Hedgeye 130/30 Equity ETF) and MKTN (Federated Hermes MDT Market Neutral ETF) are both Long-Short funds. Both are actively managed. At a correlation of -0.08, they often move in opposite directions.

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 -0.91% return, which is significantly lower than MKTN's 0.57% return.

HELS

• 1D: 0.26%
• 1M: 0.43%
• YTD: -0.91%
• 6M: -3.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MKTN

• 1D: 0.43%
• 1M: 0.32%
• YTD: 0.57%
• 6M: 0.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HELS vs. MKTN - Yearly Performance Comparison

	2026 (YTD)	2025
HELS Hedgeye 130/30 Equity ETF	-0.91%	-2.37%
MKTN Federated Hermes MDT Market Neutral ETF	0.57%	1.34%

Correlation

The correlation between HELS and MKTN is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	-0.08

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	-7.15%	-1.34%	-5.81%
Average Drawdown Average peak-to-trough decline	-5.70%	-1.20%	-4.50%

Volatility

Volatility by Period

	HELS	MKTN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.53%	6.74%	+9.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	6.74%	+9.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.53%	6.74%	+9.79%

Dividends

HELS vs. MKTN - Dividend Comparison

HELS's dividend yield for the trailing twelve months is around 0.02%, less than MKTN's 0.51% yield.

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

Frequently Asked Questions

Can I hold both HELS and MKTN in my portfolio?

HELS and MKTN have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

MKTN has the higher dividend yield at 0.51%, compared with 0.02% for HELS.

What is the main difference between HELS and MKTN?

They also come from different issuers: Hedgeye and Federated Hermes.