LSEQ vs. EQLS

Last updated Aug 4, 2026

LSEQ (Harbor Long-Short Equity ETF) and EQLS (Simplify Market Neutral Equity Long/Short ETF) are both Long-Short funds. Both are actively managed. Their 0.15 correlation means their historical movements had little consistent relationship. LSEQ charges 1.70%/yr vs 1.00%/yr for EQLS.

Performance

LSEQ vs. EQLS - Performance Comparison

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

Returns By Period

LSEQ

• 1D: -3.11%
• 1M: -4.11%
• 6M: 7.53%
• YTD: 19.52%
• 1Y: 21.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.07%

EQLS

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 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)
LSEQ Harbor Long-Short Equity ETF	$52.67K	$50.40K	$61.03K

LSEQ vs. EQLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LSEQ Harbor Long-Short Equity ETF	19.52%	4.13%	12.80%	-1.20%
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	6.82%	-4.82%	-0.67%

Correlation

The correlation between LSEQ and EQLS is 0.15, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 4, 2023	0.15

Return for Risk

LSEQ vs. EQLS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LSEQ

LSEQ Risk / Return Rank: 53
LSEQ Sharpe Ratio Rank: 47
LSEQ Sortino Ratio Rank: 46
LSEQ Omega Ratio Rank: 45
LSEQ Calmar Ratio Rank: 68
LSEQ Martin Ratio Rank: 61

EQLS

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LSEQ vs. EQLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Long-Short Equity ETF (LSEQ) and Simplify Market Neutral Equity Long/Short ETF (EQLS). 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.

	LSEQ	EQLS	Difference
Sharpe ratio: Return per unit of total volatility	1.23	—	—
Sortino ratio: Return per unit of downside risk	1.77	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	2.51	—	—
Martin ratio: Return relative to average drawdown	7.61	—	—

Drawdowns

Drawdown Indicators

	LSEQ	EQLS	Difference
Max Drawdown Largest peak-to-trough decline	-8.47%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.47%	—	—
Current Drawdown Current decline from peak	-8.47%	—	—
Average Drawdown Average peak-to-trough decline	-3.24%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	—	—

Volatility

Volatility by Period

	LSEQ	EQLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.34%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.34%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.01%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.01%	—	—

LSEQ vs. EQLS - Expense Ratio Comparison

LSEQ has a 1.70% expense ratio, which is higher than EQLS's 1.00% expense ratio.

Dividends

LSEQ vs. EQLS - Dividend Comparison

LSEQ's dividend yield for the trailing twelve months is around 1.84%, while EQLS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	0.45%	0.95%	8.50%
LSEQ Harbor Long-Short Equity ETF	1.84%	2.20%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LSEQ and EQLS in my portfolio?

LSEQ and EQLS have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LSEQ or EQLS?

On fees, EQLS 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, LSEQ or EQLS?

EQLS is cheaper with a 1.00% expense ratio, compared with 1.70% for LSEQ.

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

LSEQ has the higher dividend yield at 1.84%, compared with 0.00% for EQLS.

What is the main difference between LSEQ and EQLS?

They also come from different issuers: Harbor and Simplify. Their fees differ too: 1.70% for LSEQ and 1.00% for EQLS.