RSEE vs. FTLS

Last updated Jun 24, 2026

RSEE (Rareview Systematic Equity ETF) and FTLS (First Trust Long/Short Equity ETF) are both Long-Short funds. Both are actively managed. Over the past 3 years, RSEE returned 17.96%/yr vs 14.05%/yr for FTLS. A 0.67 correlation means they provide meaningful diversification when combined. RSEE charges 1.27%/yr vs 1.60%/yr for FTLS.

Performance

RSEE vs. FTLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rareview Systematic Equity ETF (RSEE) and First Trust Long/Short Equity ETF (FTLS). 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 higher than FTLS's 4.70% return.

RSEE

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

FTLS

• 1D: -0.80%
• 1M: -0.52%
• YTD: 4.70%
• 6M: 4.14%
• 1Y: 15.03%
• 3Y*: 14.05%
• 5Y*: 10.03%
• 10Y*: 9.94%

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

RSEE vs. FTLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
RSEE Rareview Systematic Equity ETF	12.65%	20.54%	18.54%	10.21%	-2.49%
FTLS First Trust Long/Short Equity ETF	4.70%	9.09%	18.80%	16.94%	-0.97%

Correlation

The correlation between RSEE and FTLS is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jan 21, 2022	0.67

The correlation between RSEE and FTLS has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.

Return for Risk

RSEE vs. FTLS — 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

FTLS

FTLS Risk / Return Rank: 63
FTLS Sharpe Ratio Rank: 55
FTLS Sortino Ratio Rank: 57
FTLS Omega Ratio Rank: 54
FTLS Calmar Ratio Rank: 80
FTLS Martin Ratio Rank: 70

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. FTLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rareview Systematic Equity ETF (RSEE) and First Trust Long/Short Equity ETF (FTLS). 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	FTLS	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.80	-0.06
Sortino ratio: Return per unit of downside risk	2.36	2.60	-0.24
Omega ratio: Gain probability vs. loss probability	1.31	1.33	-0.02
Calmar ratio: Return relative to maximum drawdown	2.54	3.99	-1.45
Martin ratio: Return relative to average drawdown	10.23	12.35	-2.12

RSEE vs. FTLS - Sharpe Ratio Comparison

The current RSEE Sharpe Ratio is 1.74, which is comparable to the FTLS Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of RSEE and FTLS, 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. FTLS - Drawdown Comparison

The maximum RSEE drawdown since its inception was -21.60%, which is greater than FTLS's maximum drawdown of -20.54%. Use the drawdown chart below to compare losses from any high point for RSEE and FTLS.

Drawdown Indicators

	RSEE	FTLS	Difference
Max Drawdown Largest peak-to-trough decline	-21.60%	-20.54%	-1.06%
Max Drawdown (1Y) Largest decline over 1 year	-12.89%	-3.79%	-9.10%
Max Drawdown (3Y) Largest decline over 3 years	-21.60%	-11.69%	-9.91%
Max Drawdown (5Y) Largest decline over 5 years	—	-11.69%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-20.54%	—
Current Drawdown Current decline from peak	-3.77%	-0.82%	-2.95%
Average Drawdown Average peak-to-trough decline	-3.77%	-2.69%	-1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	1.22%	+1.97%

Volatility

RSEE vs. FTLS - Volatility Comparison

Rareview Systematic Equity ETF (RSEE) has a higher volatility of 8.04% compared to First Trust Long/Short Equity ETF (FTLS) at 2.55%. This indicates that RSEE's price experiences larger fluctuations and is considered to be riskier than FTLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSEE	FTLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.04%	2.55%	+5.49%
Volatility (6M) Calculated over the trailing 6-month period	15.53%	5.95%	+9.58%
Volatility (1Y) Calculated over the trailing 1-year period	18.84%	8.40%	+10.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.22%	10.58%	+8.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.22%	11.27%	+7.95%

RSEE vs. FTLS - Expense Ratio Comparison

RSEE has a 1.27% expense ratio, which is lower than FTLS's 1.60% expense ratio.

Dividends

RSEE vs. FTLS - Dividend Comparison

RSEE has not paid dividends to shareholders, while FTLS's dividend yield for the trailing twelve months is around 0.90%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTLS First Trust Long/Short Equity ETF	0.90%	1.07%	1.50%	1.49%	0.81%	0.01%	0.44%	0.83%	0.87%	0.43%	1.04%	0.49%
RSEE Rareview Systematic Equity ETF	0.00%	0.24%	9.02%	0.84%	1.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RSEE and FTLS in my portfolio?

RSEE and FTLS have a correlation of 0.72, 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 FTLS?

RSEE has higher volatility (8.04%) compared to FTLS (2.55%). In terms of maximum drawdown, RSEE dropped -21.60% vs FTLS's -20.54%.

Which ETF is better, RSEE or FTLS?

On 3-year performance, RSEE leads with 17.96% vs 14.05% for FTLS. On fees, RSEE is cheaper at 1.27% per year. On volatility, FTLS has been the lower-risk option at 2.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSEE or FTLS?

Over the 3-year period, RSEE has performed better with a 17.96% return vs 14.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSEE or FTLS?

RSEE is cheaper with a 1.27% expense ratio, compared with 1.60% for FTLS.

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

FTLS has the higher dividend yield at 0.90%, compared with 0.00% for RSEE.

What is the main difference between RSEE and FTLS?

They also come from different issuers: Rareview Funds and First Trust. Their fees differ too: 1.27% for RSEE and 1.60% for FTLS.

Which has better risk-adjusted returns?

FTLS currently has the higher Sharpe Ratio (1.80 vs 1.74), 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.