MKTN vs. HFEQ

Last updated Jul 15, 2026

MKTN (Federated Hermes MDT Market Neutral ETF) and HFEQ (Unlimited HFEQ Equity Long/Short ETF) are both Long-Short funds. Both are actively managed. At a correlation of -0.04, they often move in opposite directions.

Performance

MKTN vs. HFEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Market Neutral ETF (MKTN) and Unlimited HFEQ Equity Long/Short ETF (HFEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MKTN

• 1D: -0.15%
• 1M: 2.68%
• 6M: 4.51%
• YTD: 3.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HFEQ

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MKTN vs. HFEQ - Yearly Performance Comparison

	2026 (YTD)	2025
MKTN Federated Hermes MDT Market Neutral ETF	3.02%	3.22%
HFEQ Unlimited HFEQ Equity Long/Short ETF	9.98%	3.62%

Correlation

The correlation between MKTN and HFEQ is -0.04, 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 25, 2025	-0.04

Return for Risk

MKTN vs. HFEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) and Unlimited HFEQ Equity Long/Short ETF (HFEQ). 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.

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

Drawdowns

Drawdown Indicators

	MKTN	HFEQ	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	—	—
Current Drawdown Current decline from peak	-0.15%	—	—
Average Drawdown Average peak-to-trough decline	-1.14%	—	—

Volatility

Volatility by Period

	MKTN	HFEQ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	6.61%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.61%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.61%	—	—

Dividends

MKTN vs. HFEQ - Dividend Comparison

MKTN's dividend yield for the trailing twelve months is around 0.50%, while HFEQ has not paid dividends to shareholders.

Position	TTM	2025
HFEQ Unlimited HFEQ Equity Long/Short ETF	9.59%	10.55%
MKTN Federated Hermes MDT Market Neutral ETF	0.50%	0.51%

Frequently Asked Questions

Can I hold both MKTN and HFEQ in my portfolio?

MKTN and HFEQ have a correlation of -0.04, 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, MKTN or HFEQ?

HFEQ has the higher dividend yield at 9.59%, compared with 0.50% for MKTN.

What is the main difference between MKTN and HFEQ?

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