MKTN vs. FTLS
MKTN (Federated Hermes MDT Market Neutral ETF) and FTLS (First Trust Long/Short Equity ETF) are both exchange-traded funds - MKTN is a Equity Market Neutral fund actively managed by Federated, while FTLS is a Long-Short fund actively managed by First Trust. Both are actively managed. Their 0.09 correlation means their historical movements had little consistent relationship. MKTN charges 1.94%/yr vs 1.38%/yr for FTLS.
Performance
MKTN vs. FTLS - Performance Comparison
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Returns By Period
In the year-to-date period, MKTN achieves a 5.83% return, which is significantly lower than FTLS's 6.14% return.
MKTN
- 1D
- -0.59%
- 1M
- 3.96%
- 6M
- 5.85%
- YTD
- 5.83%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
FTLS
- 1D
- 0.11%
- 1M
- 1.58%
- 6M
- 4.49%
- YTD
- 6.14%
- 1Y
- 14.52%
- 3Y*
- 13.17%
- 5Y*
- 10.08%
- 10Y*
- 9.44%
- ALL TIME*
- 9.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.46M | $8.04M | $9.00M | |
| $689.04K | $500.50K | $628.77K |
MKTN vs. FTLS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MKTN Federated Hermes MDT Market Neutral ETF | 5.83% | 3.22% |
FTLS First Trust Long/Short Equity ETF | 6.14% | 2.41% |
Correlation
The correlation between MKTN and FTLS is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025 | 0.09 |
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Return for Risk
MKTN vs. FTLS — Risk / Return Rank
MKTN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FTLS
MKTN vs. FTLS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) and First Trust Long/Short Equity ETF (FTLS). 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.
| MKTN | FTLS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.31 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.85 | — |
| Martin ratioReturn relative to average drawdown | — | 11.71 | — |
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Drawdowns
MKTN vs. FTLS - Drawdown Comparison
The maximum MKTN drawdown since its inception was -4.13%, smaller than the maximum FTLS drawdown of -20.54%. Use the drawdown chart below to compare losses from any high point for MKTN and FTLS.
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Drawdown Indicators
| MKTN | FTLS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.13% | -20.54% | +16.41% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.79% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.69% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.69% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.54% | — |
Current DrawdownCurrent decline from peak | -0.59% | -0.32% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -2.67% | +1.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.24% | — |
Volatility
MKTN vs. FTLS - Volatility Comparison
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Volatility by Period
| MKTN | FTLS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.13% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 5.85% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.67% | 8.50% | -1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.67% | 10.53% | -3.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.67% | 11.23% | -4.56% |
MKTN vs. FTLS - Expense Ratio Comparison
MKTN has a 1.94% expense ratio, which is higher than FTLS's 1.38% expense ratio.
Dividends
MKTN vs. FTLS - Dividend Comparison
MKTN's dividend yield for the trailing twelve months is around 0.48%, less than FTLS's 0.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTLS First Trust Long/Short Equity ETF | 0.88% | 1.07% | 1.50% | 1.49% | 0.81% | 0.01% | 0.44% | 0.83% | 0.87% | 0.43% | 1.04% | 0.49% |
MKTN Federated Hermes MDT Market Neutral ETF | 0.48% | 0.51% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MKTN and FTLS have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FTLS is cheaper at 1.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FTLS is cheaper with a 1.38% expense ratio, compared with 1.94% for MKTN.
FTLS has the higher dividend yield at 0.88%, compared with 0.48% for MKTN.
MKTN is categorized as Equity Market Neutral, while FTLS is Long-Short. They also come from different issuers: Federated and First Trust. Their fees differ too: 1.94% for MKTN and 1.38% for FTLS.
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