LSEQ vs. EHLS

Last updated Jun 4, 2026

LSEQ (Harbor Long-Short Equity ETF) and EHLS (Even Herd Long Short ETF) are both Long-Short funds. Both are actively managed. Over the past year, LSEQ returned 25.44% vs 23.69% for EHLS. A 0.59 correlation means they provide meaningful diversification when combined. LSEQ charges 1.70%/yr vs 1.58%/yr for EHLS.

Performance

LSEQ vs. EHLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Long-Short Equity ETF (LSEQ) and Even Herd Long Short ETF (EHLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LSEQ achieves a 27.40% return, which is significantly higher than EHLS's 15.59% return.

LSEQ

• 1D: 1.12%
• 1M: 4.34%
• YTD: 27.40%
• 6M: 26.84%
• 1Y: 25.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EHLS

• 1D: -0.28%
• 1M: 2.51%
• YTD: 15.59%
• 6M: 16.66%
• 1Y: 23.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LSEQ vs. EHLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LSEQ Harbor Long-Short Equity ETF	27.40%	4.13%	0.66%
EHLS Even Herd Long Short ETF	15.59%	6.67%	11.57%

Correlation

The correlation between LSEQ and EHLS 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 (1Y) Calculated over the trailing 1-year period	0.64
Correlation (All Time) Calculated using the full available price history since Apr 3, 2024	0.59

The correlation between LSEQ and EHLS has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.

LSEQ vs. EHLS - Sectors Allocation Comparison

Sectors	LSEQ	EHLS
Basic Materials	27.3%	8.3%
Consumer Cyclical	17.3%	4.5%
Energy	15.0%	13.4%
Healthcare	14.7%	9.6%
Communication Services	7.0%	5.0%
Industrials	6.5%	13.5%
Consumer Defensive	5.2%	4.3%
Utilities	3.1%	7.9%
Financial Services	1.2%	15.6%
Real Estate	-	5.7%
Technology	-10.9%	12.4%

Return for Risk

LSEQ vs. EHLS — Risk / Return Rank

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

LSEQ

LSEQ Risk / Return Rank: 54
LSEQ Sharpe Ratio Rank: 49
LSEQ Sortino Ratio Rank: 48
LSEQ Omega Ratio Rank: 49
LSEQ Calmar Ratio Rank: 69
LSEQ Martin Ratio Rank: 55

EHLS

EHLS Risk / Return Rank: 41
EHLS Sharpe Ratio Rank: 36
EHLS Sortino Ratio Rank: 32
EHLS Omega Ratio Rank: 35
EHLS Calmar Ratio Rank: 53
EHLS Martin Ratio Rank: 47

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.

LSEQ vs. EHLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Long-Short Equity ETF (LSEQ) and Even Herd Long Short ETF (EHLS). 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.

	LSEQ	EHLS	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.27	+0.43
Sortino ratio: Return per unit of downside risk	2.38	1.72	+0.67
Omega ratio: Gain probability vs. loss probability	1.31	1.23	+0.08
Calmar ratio: Return relative to maximum drawdown	3.45	2.63	+0.83
Martin ratio: Return relative to average drawdown	9.40	7.72	+1.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LSEQ vs. EHLS - Sharpe Ratio Comparison

The current LSEQ Sharpe Ratio is 1.70, which is higher than the EHLS Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of LSEQ and EHLS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LSEQ	EHLS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.27	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	0.81	+0.39

Drawdowns

LSEQ vs. EHLS - Drawdown Comparison

The maximum LSEQ drawdown since its inception was -8.35%, smaller than the maximum EHLS drawdown of -18.96%. Use the drawdown chart below to compare losses from any high point for LSEQ and EHLS.

Drawdown Indicators

	LSEQ	EHLS	Difference
Max Drawdown Largest peak-to-trough decline	-8.35%	-18.96%	+10.61%
Max Drawdown (1Y) Largest decline over 1 year	-7.40%	-9.06%	+1.66%
Current Drawdown Current decline from peak	-1.66%	-1.54%	-0.12%
Average Drawdown Average peak-to-trough decline	-3.23%	-4.43%	+1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	3.08%	-0.30%

Volatility

LSEQ vs. EHLS - Volatility Comparison

Harbor Long-Short Equity ETF (LSEQ) and Even Herd Long Short ETF (EHLS) have volatilities of 5.48% and 5.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LSEQ	EHLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.48%	5.41%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	12.75%	14.54%	-1.79%
Volatility (1Y) Calculated over the trailing 1-year period	15.09%	18.71%	-3.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.32%	19.76%	-5.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.32%	19.76%	-5.44%

LSEQ vs. EHLS - Expense Ratio Comparison

LSEQ has a 1.70% expense ratio, which is higher than EHLS's 1.58% expense ratio.

Dividends

LSEQ vs. EHLS - Dividend Comparison

LSEQ's dividend yield for the trailing twelve months is around 1.73%, while EHLS has not paid dividends to shareholders.

Position	TTM	2025	2024
EHLS Even Herd Long Short ETF	0.00%	0.00%	1.03%
LSEQ Harbor Long-Short Equity ETF	1.73%	2.20%	0.00%

Frequently Asked Questions

Can I hold both LSEQ and EHLS in my portfolio?

LSEQ and EHLS 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 is riskier, LSEQ or EHLS?

LSEQ has higher volatility (5.48%) compared to EHLS (5.41%). In terms of maximum drawdown, LSEQ dropped -8.35% vs EHLS's -18.96%.

Which ETF is better, LSEQ or EHLS?

On 1-year performance, LSEQ leads with 25.44% vs 23.69% for EHLS. On fees, EHLS is cheaper at 1.58% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LSEQ or EHLS?

Over the 1-year period, LSEQ has performed better with a 25.44% return vs 23.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LSEQ or EHLS?

EHLS is cheaper with a 1.58% expense ratio, compared with 1.70% for LSEQ.

Which ETF pays a higher dividend yield, LSEQ or EHLS?

LSEQ has the higher dividend yield at 1.73%, compared with 0.00% for EHLS.

What is the main difference between LSEQ and EHLS?

They also come from different issuers: Harbor and N/A. Their fees differ too: 1.70% for LSEQ and 1.58% for EHLS.

Which has better risk-adjusted returns?

LSEQ currently has the higher Sharpe Ratio (1.70 vs 1.27), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.