HFEQ vs. RSEE

Last updated Jun 4, 2026

HFEQ (Unlimited HFEQ Equity Long/Short ETF) and RSEE (Rareview Systematic Equity ETF) are both Long-Short funds. Both are actively managed. Their correlation of 0.93 suggests significant overlap in exposure. HFEQ charges 1.00%/yr vs 1.27%/yr for RSEE.

Performance

HFEQ vs. RSEE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Unlimited HFEQ Equity Long/Short ETF (HFEQ) and Rareview Systematic Equity ETF (RSEE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HFEQ achieves a 14.04% return, which is significantly lower than RSEE's 15.92% return.

HFEQ

• 1D: -0.34%
• 1M: 5.50%
• YTD: 14.04%
• 6M: 13.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RSEE

• 1D: -0.97%
• 1M: 7.65%
• YTD: 15.92%
• 6M: 16.63%
• 1Y: 37.19%
• 3Y*: 19.29%
• 5Y*: —
• 10Y*: —

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

HFEQ vs. RSEE - Yearly Performance Comparison

	2026 (YTD)	2025
HFEQ Unlimited HFEQ Equity Long/Short ETF	14.04%	14.92%
RSEE Rareview Systematic Equity ETF	15.92%	12.74%

Correlation

The correlation between HFEQ and RSEE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	0.93

Return for Risk

HFEQ vs. RSEE — Risk / Return Rank

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

RSEE

RSEE Risk / Return Rank: 62
RSEE Sharpe Ratio Rank: 64
RSEE Sortino Ratio Rank: 61
RSEE Omega Ratio Rank: 60
RSEE Calmar Ratio Rank: 59
RSEE Martin Ratio Rank: 66

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.

HFEQ vs. RSEE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unlimited HFEQ Equity Long/Short ETF (HFEQ) and Rareview Systematic Equity ETF (RSEE). 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

	HFEQ	RSEE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.13	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.66	0.76	+0.90

Drawdowns

HFEQ vs. RSEE - Drawdown Comparison

The maximum HFEQ drawdown since its inception was -12.46%, smaller than the maximum RSEE drawdown of -21.60%. Use the drawdown chart below to compare losses from any high point for HFEQ and RSEE.

Drawdown Indicators

	HFEQ	RSEE	Difference
Max Drawdown Largest peak-to-trough decline	-12.46%	-21.60%	+9.14%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.89%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.60%	—
Current Drawdown Current decline from peak	-0.34%	-0.97%	+0.63%
Average Drawdown Average peak-to-trough decline	-2.45%	-3.78%	+1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.10%	—

Volatility

Volatility by Period

	HFEQ	RSEE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.39%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.86%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.60%	17.56%	+4.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.60%	19.00%	+2.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.60%	19.00%	+2.60%

HFEQ vs. RSEE - Expense Ratio Comparison

HFEQ has a 1.00% expense ratio, which is lower than RSEE's 1.27% expense ratio.

Dividends

HFEQ vs. RSEE - Dividend Comparison

HFEQ's dividend yield for the trailing twelve months is around 9.25%, more than RSEE's 0.21% yield.

Position	TTM	2025	2024	2023	2022
HFEQ Unlimited HFEQ Equity Long/Short ETF	9.25%	10.55%	0.00%	0.00%	0.00%
RSEE Rareview Systematic Equity ETF	0.21%	0.24%	9.02%	0.84%	1.97%

Frequently Asked Questions

Can I hold both HFEQ and RSEE in my portfolio?

With a correlation of 0.93, HFEQ and RSEE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, HFEQ or RSEE?

On fees, HFEQ is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HFEQ or RSEE?

HFEQ is cheaper with a 1.00% expense ratio, compared with 1.27% for RSEE.

Which ETF pays a higher dividend yield, HFEQ or RSEE?

HFEQ has the higher dividend yield at 9.25%, compared with 0.21% for RSEE.

What is the main difference between HFEQ and RSEE?

They also come from different issuers: Unlimited and Rareview Funds. Their fees differ too: 1.00% for HFEQ and 1.27% for RSEE.