HEQT vs. ONEH

Last updated Jul 14, 2026

HEQT (Simplify Hedged Equity ETF) and ONEH (TrueShares Equity Hedge ETF) are both Equity Hedged funds. Both are actively managed. At a 0.09 correlation, their price movements are largely independent. HEQT charges 0.43%/yr vs 0.79%/yr for ONEH.

Performance

HEQT vs. ONEH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Hedged Equity ETF (HEQT) and TrueShares Equity Hedge ETF (ONEH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HEQT

• 1D: -0.33%
• 1M: 1.33%
• 6M: 4.49%
• YTD: 5.68%
• 1Y: 13.05%
• 3Y*: 12.97%
• 5Y*: —
• 10Y*: —

ONEH

• 1D: 0.51%
• 1M: -1.01%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HEQT vs. ONEH - Yearly Performance Comparison

	2026 (YTD)
HEQT Simplify Hedged Equity ETF	4.14%
ONEH TrueShares Equity Hedge ETF	-1.62%

Correlation

The correlation between HEQT and ONEH is 0.09, 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 Jan 29, 2026	0.09

Return for Risk

HEQT vs. ONEH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HEQT

HEQT Risk / Return Rank: 76
HEQT Sharpe Ratio Rank: 77
HEQT Sortino Ratio Rank: 78
HEQT Omega Ratio Rank: 83
HEQT Calmar Ratio Rank: 65
HEQT Martin Ratio Rank: 77

ONEH

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HEQT vs. ONEH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Hedged Equity ETF (HEQT) and TrueShares Equity Hedge ETF (ONEH). 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.

	HEQT	ONEH	Difference
Sharpe ratio: Return per unit of total volatility	1.96	—	—
Sortino ratio: Return per unit of downside risk	2.76	—	—
Omega ratio: Gain probability vs. loss probability	1.39	—	—
Calmar ratio: Return relative to maximum drawdown	2.57	—	—
Martin ratio: Return relative to average drawdown	11.56	—	—

Drawdowns

HEQT vs. ONEH - Drawdown Comparison

The maximum HEQT drawdown since its inception was -11.51%, which is greater than ONEH's maximum drawdown of -3.55%. Use the drawdown chart below to compare losses from any high point for HEQT and ONEH.

Drawdown Indicators

	HEQT	ONEH	Difference
Max Drawdown Largest peak-to-trough decline	-11.51%	-3.55%	-7.96%
Max Drawdown (1Y) Largest decline over 1 year	-5.09%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-10.57%	—	—
Current Drawdown Current decline from peak	-0.33%	-1.62%	+1.29%
Average Drawdown Average peak-to-trough decline	-2.74%	-1.50%	-1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	—	—

Volatility

Volatility by Period

	HEQT	ONEH	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.53%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.71%	5.19%	+1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.44%	5.19%	+3.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.44%	5.19%	+3.25%

HEQT vs. ONEH - Expense Ratio Comparison

HEQT has a 0.43% expense ratio, which is lower than ONEH's 0.79% expense ratio.

Dividends

HEQT vs. ONEH - Dividend Comparison

HEQT's dividend yield for the trailing twelve months is around 1.19%, while ONEH has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
HEQT Simplify Hedged Equity ETF	1.19%	1.19%	1.29%	4.10%	3.94%	0.27%
ONEH TrueShares Equity Hedge ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HEQT and ONEH in my portfolio?

HEQT and ONEH have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HEQT or ONEH?

On fees, HEQT is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HEQT or ONEH?

HEQT is cheaper with a 0.43% expense ratio, compared with 0.79% for ONEH.

Which ETF pays a higher dividend yield, HEQT or ONEH?

HEQT has the higher dividend yield at 1.19%, compared with 0.00% for ONEH.

What is the main difference between HEQT and ONEH?

They also come from different issuers: Simplify and TrueShares. Their fees differ too: 0.43% for HEQT and 0.79% for ONEH.