MKTN vs. LSEQ

Last updated Jul 15, 2026

MKTN (Federated Hermes MDT Market Neutral ETF) and LSEQ (Harbor Long-Short Equity ETF) are both Long-Short funds. Both are actively managed. At a correlation of -0.02, they often move in opposite directions.

Performance

MKTN vs. LSEQ - Performance Comparison

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

Returns By Period

In the year-to-date period, MKTN achieves a 3.02% return, which is significantly lower than LSEQ's 25.28% return.

MKTN

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

LSEQ

• 1D: 1.39%
• 1M: -3.44%
• 6M: 17.63%
• YTD: 25.28%
• 1Y: 27.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MKTN vs. LSEQ - Yearly Performance Comparison

	2026 (YTD)	2025
MKTN Federated Hermes MDT Market Neutral ETF	3.02%	3.22%
LSEQ Harbor Long-Short Equity ETF	25.28%	0.71%

Correlation

The correlation between MKTN and LSEQ is -0.02, 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	-0.02

Return for Risk

MKTN vs. LSEQ — Risk / Return Rank

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

MKTN

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

LSEQ

LSEQ Risk / Return Rank: 71
LSEQ Sharpe Ratio Rank: 67
LSEQ Sortino Ratio Rank: 65
LSEQ Omega Ratio Rank: 65
LSEQ Calmar Ratio Rank: 85
LSEQ Martin Ratio Rank: 75

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.

MKTN vs. LSEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) and Harbor Long-Short Equity ETF (LSEQ). 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	LSEQ	Difference
Sharpe ratio: Return per unit of total volatility	—	1.74	—
Sortino ratio: Return per unit of downside risk	—	2.41	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	3.75	—
Martin ratio: Return relative to average drawdown	—	11.11	—

Drawdowns

MKTN vs. LSEQ - Drawdown Comparison

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

Drawdown Indicators

	MKTN	LSEQ	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	-8.35%	+4.22%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.40%	—
Current Drawdown Current decline from peak	-0.15%	-4.06%	+3.91%
Average Drawdown Average peak-to-trough decline	-1.14%	-3.20%	+2.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.49%	—

Volatility

Volatility by Period

	MKTN	LSEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.67%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.61%	15.97%	-9.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.61%	14.57%	-7.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.61%	14.57%	-7.96%

Dividends

MKTN vs. LSEQ - Dividend Comparison

MKTN's dividend yield for the trailing twelve months is around 0.50%, less than LSEQ's 1.76% yield.

Position	TTM	2025
LSEQ Harbor Long-Short Equity ETF	1.76%	2.20%
MKTN Federated Hermes MDT Market Neutral ETF	0.50%	0.51%

Frequently Asked Questions

Can I hold both MKTN and LSEQ in my portfolio?

MKTN and LSEQ have a correlation of -0.02, 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 LSEQ?

LSEQ has the higher dividend yield at 1.76%, compared with 0.50% for MKTN.

What is the main difference between MKTN and LSEQ?

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