LSEQ vs. HEFT

Last updated Apr 2, 2026

Compare and contrast key facts about Harbor Long-Short Equity ETF (LSEQ) and Hedgeye Fourth Turning ETF (HEFT).

LSEQ and HEFT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LSEQ is an actively managed fund by Harbor. It was launched on Dec 4, 2023. HEFT is an actively managed fund by Hedgeye. It was launched on Nov 20, 2025.

Performance

LSEQ vs. HEFT - Performance Comparison

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

LSEQ vs. HEFT - Yearly Performance Comparison

	2026 (YTD)	2025
LSEQ Harbor Long-Short Equity ETF	22.47%	-0.30%
HEFT Hedgeye Fourth Turning ETF	5.26%	0.98%

Returns By Period

In the year-to-date period, LSEQ achieves a 22.47% return, which is significantly higher than HEFT's 5.26% return.

LSEQ

• 1D: 1.60%
• 1M: -0.74%
• YTD: 22.47%
• 6M: 23.09%
• 1Y: 19.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HEFT

• 1D: -0.04%
• 1M: -3.48%
• YTD: 5.26%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LSEQ vs. HEFT - Expense Ratio Comparison

LSEQ has a 1.70% expense ratio, which is higher than HEFT's 0.70% expense ratio.

LSEQ

Harbor Long-Short Equity ETF

HEFT

Hedgeye Fourth Turning ETF

Return for Risk

LSEQ vs. HEFT — Risk / Return Rank

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

LSEQ

LSEQ Risk / Return Rank: 65
LSEQ Sharpe Ratio Rank: 67
LSEQ Sortino Ratio Rank: 69
LSEQ Omega Ratio Rank: 61
LSEQ Calmar Ratio Rank: 83
LSEQ Martin Ratio Rank: 46

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. HEFT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Long-Short Equity ETF (LSEQ) and Hedgeye Fourth Turning ETF (HEFT). 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	HEFT	Difference
Sharpe ratio Return per unit of total volatility	1.24	—	—
Sortino ratio Return per unit of downside risk	1.83	—	—
Omega ratio Gain probability vs. loss probability	1.24	—	—
Calmar ratio Return relative to maximum drawdown	2.65	—	—
Martin ratio Return relative to average drawdown	4.80	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	LSEQ	HEFT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	1.44	-0.28

Correlation

The correlation between LSEQ and HEFT is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

LSEQ vs. HEFT - Dividend Comparison

LSEQ's dividend yield for the trailing twelve months is around 1.80%, more than HEFT's 0.02% yield.

	TTM	2025
LSEQ Harbor Long-Short Equity ETF	1.80%	2.20%
HEFT Hedgeye Fourth Turning ETF	0.02%	0.02%

Drawdowns

LSEQ vs. HEFT - Drawdown Comparison

The maximum LSEQ drawdown since its inception was -8.35%, which is greater than HEFT's maximum drawdown of -6.57%. Use the drawdown chart below to compare losses from any high point for LSEQ and HEFT.

Drawdown Indicators

	LSEQ	HEFT	Difference
Max Drawdown Largest peak-to-trough decline	-8.35%	-6.57%	-1.78%
Max Drawdown (1Y) Largest decline over 1 year	-7.40%	—	—
Current Drawdown Current decline from peak	-1.04%	-5.03%	+3.99%
Average Drawdown Average peak-to-trough decline	-3.33%	-2.00%	-1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.08%	—	—

Volatility

Volatility by Period

	LSEQ	HEFT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.49%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.55%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.93%	13.37%	+2.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.25%	13.37%	+0.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.25%	13.37%	+0.88%