LSEQ vs. MKTN

Last updated Jun 4, 2026

LSEQ (Harbor Long-Short Equity ETF) and MKTN (Federated Hermes MDT Market Neutral ETF) are both Long-Short funds. Both are actively managed. At a 0.01 correlation, their price movements are largely independent.

Performance

LSEQ vs. MKTN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Long-Short Equity ETF (LSEQ) and Federated Hermes MDT Market Neutral ETF (MKTN). 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 MKTN's 1.27% return.

LSEQ

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

MKTN

• 1D: 0.12%
• 1M: 1.01%
• YTD: 1.27%
• 6M: 4.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LSEQ vs. MKTN - Yearly Performance Comparison

	2026 (YTD)	2025
LSEQ Harbor Long-Short Equity ETF	27.40%	0.90%
MKTN Federated Hermes MDT Market Neutral ETF	1.27%	3.53%

Correlation

The correlation between LSEQ and MKTN is 0.01, 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 Sep 26, 2025	0.01

Return for Risk

LSEQ vs. MKTN — 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

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. MKTN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Long-Short Equity ETF (LSEQ) and Federated Hermes MDT Market Neutral ETF (MKTN). 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	MKTN	Difference
Sharpe ratio: Return per unit of total volatility	1.70	—	—
Sortino ratio: Return per unit of downside risk	2.38	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	3.45	—	—
Martin ratio: Return relative to average drawdown	9.40	—	—
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	MKTN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	1.06	+0.14

Drawdowns

LSEQ vs. MKTN - Drawdown Comparison

The maximum LSEQ drawdown since its inception was -8.35%, which is greater than MKTN's maximum drawdown of -4.13%. Use the drawdown chart below to compare losses from any high point for LSEQ and MKTN.

Drawdown Indicators

	LSEQ	MKTN	Difference
Max Drawdown Largest peak-to-trough decline	-8.35%	-4.13%	-4.22%
Max Drawdown (1Y) Largest decline over 1 year	-7.40%	—	—
Current Drawdown Current decline from peak	-1.66%	-0.65%	-1.01%
Average Drawdown Average peak-to-trough decline	-3.23%	-1.13%	-2.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	—	—

Volatility

Volatility by Period

	LSEQ	MKTN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.48%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.75%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.09%	6.81%	+8.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.32%	6.81%	+7.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.32%	6.81%	+7.51%

Dividends

LSEQ vs. MKTN - Dividend Comparison

LSEQ's dividend yield for the trailing twelve months is around 1.73%, more than MKTN's 0.50% yield.

Position	TTM	2025
LSEQ Harbor Long-Short Equity ETF	1.73%	2.20%
MKTN Federated Hermes MDT Market Neutral ETF	0.50%	0.51%

Frequently Asked Questions

Can I hold both LSEQ and MKTN in my portfolio?

LSEQ and MKTN have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

LSEQ has the higher dividend yield at 1.73%, compared with 0.50% for MKTN.

What is the main difference between LSEQ and MKTN?

They also come from different issuers: Harbor and Federated Hermes.