MKTN vs. NLSI

Last updated Jun 4, 2026

MKTN (Federated Hermes MDT Market Neutral ETF) and NLSI (Neos Long/Short Equity Income ETF) are both Long-Short funds. Both are actively managed. At a 0.16 correlation, their price movements are largely independent.

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 1.27% return, which is significantly lower than NLSI's 7.01% return.

MKTN

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

NLSI

• 1D: -0.92%
• 1M: 10.92%
• YTD: 7.01%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MKTN vs. NLSI - Yearly Performance Comparison

	2026 (YTD)	2025
MKTN Federated Hermes MDT Market Neutral ETF	1.27%	1.34%
NLSI Neos Long/Short Equity Income ETF	7.01%	1.90%

Correlation

The correlation between MKTN and NLSI is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 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.

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

Sharpe Ratios by Period

	MKTN	NLSI	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	1.04	+0.02

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	-0.65%	-1.33%	+0.68%
Average Drawdown Average peak-to-trough decline	-1.13%	-6.10%	+4.97%

Volatility

Volatility by Period

	MKTN	NLSI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	6.81%	19.37%	-12.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.81%	19.37%	-12.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.81%	19.37%	-12.56%

Dividends

MKTN vs. NLSI - Dividend Comparison

MKTN's dividend yield for the trailing twelve months is around 0.50%, less than NLSI's 2.42% yield.

Position	TTM	2025
MKTN Federated Hermes MDT Market Neutral ETF	0.50%	0.51%
NLSI Neos Long/Short Equity Income ETF	2.42%	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 pays a higher dividend yield, MKTN or NLSI?

NLSI has the higher dividend yield at 2.42%, compared with 0.50% for MKTN.

What is the main difference between MKTN and NLSI?

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