MKTN vs. NLSI

Last updated Aug 4, 2026

MKTN (Federated Hermes MDT Market Neutral ETF) and NLSI (Neos Long/Short Equity Income ETF) are both exchange-traded funds - MKTN is a Equity Market Neutral fund actively managed by Federated, while NLSI is a Derivative Income fund actively managed by Neos. Both are actively managed. Their 0.16 correlation means their historical movements had little consistent relationship. MKTN charges 1.94%/yr vs 2.89%/yr for NLSI.

Performance

MKTN vs. NLSI - Performance Comparison

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

Returns By Period

In the year-to-date period, MKTN achieves a 5.83% return, which is significantly lower than NLSI's 7.25% return.

MKTN

• 1D: -0.59%
• 1M: 3.96%
• 6M: 5.85%
• YTD: 5.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

NLSI

• 1D: 0.25%
• 1M: 3.07%
• 6M: 12.55%
• YTD: 7.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MKTN Federated Hermes MDT Market Neutral ETF	$689.04K	$500.50K	$628.77K
NLSI Neos Long/Short Equity Income ETF	$100.82K	$112.85K	$105.67K

MKTN vs. NLSI - Yearly Performance Comparison

	2026 (YTD)	2025
MKTN Federated Hermes MDT Market Neutral ETF	5.83%	1.36%
NLSI Neos Long/Short Equity Income ETF	7.25%	2.51%

Correlation

The correlation between MKTN and NLSI is 0.16, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.16

Return for Risk

MKTN vs. NLSI - Risk-Adjusted Trends Comparison

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

MKTN vs. NLSI - Drawdown Comparison

The maximum MKTN drawdown since its inception was -4.13%, smaller than the maximum NLSI drawdown of -13.82%. Use the drawdown chart below to compare losses from any high point for MKTN and NLSI.

Drawdown Indicators

	MKTN	NLSI	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	-13.82%	+9.69%
Current Drawdown Current decline from peak	-0.59%	-1.21%	+0.62%
Average Drawdown Average peak-to-trough decline	-1.08%	-5.48%	+4.40%

Volatility

Volatility by Period

	MKTN	NLSI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	6.67%	18.98%	-12.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.67%	18.98%	-12.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.67%	18.98%	-12.31%

MKTN vs. NLSI - Expense Ratio Comparison

MKTN has a 1.94% expense ratio, which is lower than NLSI's 2.89% expense ratio.

Dividends

MKTN vs. NLSI - Dividend Comparison

MKTN's dividend yield for the trailing twelve months is around 0.48%, less than NLSI's 3.30% yield.

Position	TTM	2025
MKTN Federated Hermes MDT Market Neutral ETF	0.48%	0.51%
NLSI Neos Long/Short Equity Income ETF	3.30%	0.46%

Frequently Asked Questions

Can I hold both MKTN and NLSI in my portfolio?

MKTN and NLSI have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MKTN or NLSI?

On fees, MKTN is cheaper at 1.94% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MKTN or NLSI?

MKTN is cheaper with a 1.94% expense ratio, compared with 2.89% for NLSI.

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

NLSI has the higher dividend yield at 3.30%, compared with 0.48% for MKTN.

What is the main difference between MKTN and NLSI?

MKTN is categorized as Equity Market Neutral, while NLSI is Derivative Income. They also come from different issuers: Federated and Neos. Their fees differ too: 1.94% for MKTN and 2.89% for NLSI.