RSEE vs. EHLS

Last updated Jun 24, 2026

RSEE (Rareview Systematic Equity ETF) and EHLS (Even Herd Long Short ETF) are both Long-Short funds. Both are actively managed. Over the past year, RSEE returned 32.53% vs 22.11% for EHLS. A 0.62 correlation means they provide meaningful diversification when combined. RSEE charges 1.27%/yr vs 1.58%/yr for EHLS.

Performance

RSEE vs. EHLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rareview Systematic Equity ETF (RSEE) and Even Herd Long Short ETF (EHLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSEE achieves a 12.65% return, which is significantly lower than EHLS's 14.25% return.

RSEE

• 1D: -2.89%
• 1M: -0.47%
• YTD: 12.65%
• 6M: 11.67%
• 1Y: 32.53%
• 3Y*: 17.96%
• 5Y*: —
• 10Y*: —

EHLS

• 1D: -0.63%
• 1M: -1.19%
• YTD: 14.25%
• 6M: 12.13%
• 1Y: 22.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RSEE vs. EHLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RSEE Rareview Systematic Equity ETF	12.65%	20.54%	11.74%
EHLS Even Herd Long Short ETF	14.25%	6.67%	12.31%

Correlation

The correlation between RSEE and EHLS is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.63

The correlation between RSEE and EHLS has been stable across timeframes, ranging from 0.62 to 0.62 - a consistent structural relationship.

RSEE vs. EHLS - Sectors Allocation Comparison

Sectors	RSEE	EHLS
Technology	32.5%	13.2%
Financial Services	13.1%	14.7%
Industrials	11.1%	13.3%
Consumer Cyclical	9.9%	5.3%
Communication Services	8.7%	5.3%
Healthcare	7.3%	9.8%
Consumer Defensive	5.1%	5.0%
Basic Materials	4.0%	8.9%
Energy	3.6%	10.8%
Utilities	2.5%	7.4%
Real Estate	2.3%	6.3%

Return for Risk

RSEE vs. EHLS — Risk / Return Rank

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

RSEE

RSEE Risk / Return Rank: 56
RSEE Sharpe Ratio Rank: 56
RSEE Sortino Ratio Rank: 53
RSEE Omega Ratio Rank: 53
RSEE Calmar Ratio Rank: 55
RSEE Martin Ratio Rank: 62

EHLS

EHLS Risk / Return Rank: 40
EHLS Sharpe Ratio Rank: 35
EHLS Sortino Ratio Rank: 32
EHLS Omega Ratio Rank: 34
EHLS Calmar Ratio Rank: 53
EHLS Martin Ratio Rank: 46

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.

RSEE vs. EHLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rareview Systematic Equity ETF (RSEE) and Even Herd Long Short ETF (EHLS). 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.

	RSEE	EHLS	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.17	+0.57
Sortino ratio: Return per unit of downside risk	2.36	1.60	+0.76
Omega ratio: Gain probability vs. loss probability	1.31	1.22	+0.09
Calmar ratio: Return relative to maximum drawdown	2.54	2.45	+0.09
Martin ratio: Return relative to average drawdown	10.23	7.06	+3.17

RSEE vs. EHLS - Sharpe Ratio Comparison

The current RSEE Sharpe Ratio is 1.74, which is higher than the EHLS Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of RSEE and EHLS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RSEE vs. EHLS - Drawdown Comparison

The maximum RSEE drawdown since its inception was -21.60%, which is greater than EHLS's maximum drawdown of -18.96%. Use the drawdown chart below to compare losses from any high point for RSEE and EHLS.

Drawdown Indicators

	RSEE	EHLS	Difference
Max Drawdown Largest peak-to-trough decline	-21.60%	-18.96%	-2.64%
Max Drawdown (1Y) Largest decline over 1 year	-12.89%	-9.06%	-3.83%
Max Drawdown (3Y) Largest decline over 3 years	-21.60%	—	—
Current Drawdown Current decline from peak	-3.77%	-2.68%	-1.09%
Average Drawdown Average peak-to-trough decline	-3.77%	-4.39%	+0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	3.14%	+0.05%

Volatility

RSEE vs. EHLS - Volatility Comparison

Rareview Systematic Equity ETF (RSEE) has a higher volatility of 8.04% compared to Even Herd Long Short ETF (EHLS) at 4.57%. This indicates that RSEE's price experiences larger fluctuations and is considered to be riskier than EHLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSEE	EHLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.04%	4.57%	+3.47%
Volatility (6M) Calculated over the trailing 6-month period	15.53%	14.56%	+0.97%
Volatility (1Y) Calculated over the trailing 1-year period	18.84%	18.94%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.22%	19.68%	-0.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.22%	19.68%	-0.46%

RSEE vs. EHLS - Expense Ratio Comparison

RSEE has a 1.27% expense ratio, which is lower than EHLS's 1.58% expense ratio.

Dividends

RSEE vs. EHLS - Dividend Comparison

Neither RSEE nor EHLS has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
EHLS Even Herd Long Short ETF	0.00%	0.00%	1.03%	0.00%	0.00%
RSEE Rareview Systematic Equity ETF	0.00%	0.24%	9.02%	0.84%	1.97%

Frequently Asked Questions

Can I hold both RSEE and EHLS in my portfolio?

RSEE and EHLS have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSEE or EHLS?

RSEE has higher volatility (8.04%) compared to EHLS (4.57%). In terms of maximum drawdown, RSEE dropped -21.60% vs EHLS's -18.96%.

Which ETF is better, RSEE or EHLS?

On 1-year performance, RSEE leads with 32.53% vs 22.11% for EHLS. On fees, RSEE is cheaper at 1.27% per year. On volatility, EHLS has been the lower-risk option at 4.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSEE or EHLS?

Over the 1-year period, RSEE has performed better with a 32.53% return vs 22.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSEE or EHLS?

RSEE is cheaper with a 1.27% expense ratio, compared with 1.58% for EHLS.

Which ETF pays a higher dividend yield, RSEE or EHLS?

RSEE and EHLS have nearly identical dividend yields, around 0.00%.

What is the main difference between RSEE and EHLS?

They also come from different issuers: Rareview Funds and N/A. Their fees differ too: 1.27% for RSEE and 1.58% for EHLS.

Which has better risk-adjusted returns?

RSEE currently has the higher Sharpe Ratio (1.74 vs 1.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.