Long/Short & Market Neutral ETFs

28 US-listed ETFs in the Long/Short & Market Neutral category, from 23 issuers, with $6.1B in assets. The largest is First Trust Long/Short Equity ETF (FTLS) at $2.6B. The cheapest with at least $50M in assets is TOAK at 0.25%. The median fund charges 1.23%.

Funds
28
23 issuers
Assets
$6.1B
Median fee
1.23%
0.25% to 6.22%
Median 1-year return
+5.4%
price return
Net flows, May 2026
+$92M
from SEC filings
Best 1-year return
+33.2%
CLSE, $50M+ in assets

Net flows by month

through Jul 2026SEC filings

Net creations across these funds as reported in SEC filings. The most recent months only include funds that have filed for them; funds whose filing covers other share classes are left out.

View as a table
Net flows of Long/Short & Market Neutral ETFs by month, Aug 2023 to Jul 2026
MonthCreationsRedemptionsNet flowFunds reporting
Jul 2026$157M$116M+$41M7 partial
Jun 2026$950M$804M+$146M18 partial
May 2026$198M$105M+$92M25
Apr 2026$397M$223M+$174M25
Mar 2026$544M$503M+$41M25
Feb 2026$320M$43M+$276M25
Jan 2026$303M$51M+$252M24
Dec 2025$640M$618M+$22M23
Nov 2025$154M$81M+$73M21
Oct 2025$273M$50M+$224M21
Sep 2025$81M$77M+$3.1M21
Aug 2025$630M$511M+$119M21
Jul 2025$108M$173M−$66M21
Jun 2025$83M$76M+$7.5M19
May 2025$846M$941M−$95M19
Apr 2025$200M$107M+$93M19
Mar 2025$164M$110M+$53M18
Feb 2025$230M$28M+$202M18
Jan 2025$220M$164M+$55M18
Dec 2024$202M$58M+$143M17
Nov 2024$477M$458M+$19M17
Oct 2024$102M$88M+$13M16
Sep 2024$293M$125M+$168M16
Aug 2024$544M$452M+$92M16
Jul 2024$177M$61M+$116M15
Jun 2024$144M$19M+$125M15
May 2024$694M$648M+$46M15
Apr 2024$215M$112M+$103M15
Mar 2024$705M$631M+$74M14
Feb 2024$48M$62M−$15M14
Jan 2024$83M$50M+$32M14
Dec 2023$88M$121M−$33M14
Nov 2023$83M$42M+$41M13
Oct 2023$49M$62M−$13M12
Sep 2023$69M$28M+$40M12
Aug 2023$79M$39M+$40M12

All Long/Short & Market Neutral ETFs

# Fund Issuer Fee Assets YTD 1Y Yield 3M flow Score Holdings as of
1 FTLSFirst Trust Long/Short Equity ETFActive First Trust 1.38% $2.6B +9.5% +11.4% 0.86% +$152M 61 Apr 30, 2026 SEC
2 QAINYLIM Hedge Multi-Strategy Tracker ETF New York Life 0.88% $1.0B +7.9% +7.0% 1.39% +$28M 52 Apr 30, 2026 SEC
3 CLSEConvergence Long/Short Equity ETFActive Convergence 1.52% $997M +25.9% +33.2% 0.76% +$198M 59 May 31, 2026 SEC
4 ORRMilitia Long/Short Equity ETFActive Militia — $348M +12.8% +22.6% — −$71M 51 May 29, 2026 SEC
5 BTALAGF U.S. Market Neutral Anti-Beta FundActive AGF 1.40% $313M −16.3% −21.8% 2.97% −$51M 55 Jun 30, 2026 SEC
6 FAARFirst Trust Alternative Absolute Return Strategy ETFActive First Trust 0.98% $235M +20.7% +7.0% 9.29% +$17M 34 Jun 30, 2026 SEC
7 MKTNFederated Hermes MDT Market Neutral ETFActive Federated Hermes 1.94% $107M +9.8% +16.1% 0.23% +$25M 37 Jun 30, 2026 SEC
8 TOAKTwin Oak Short Horizon Absolute Return ETFActive Twin Oak 0.25% $105M +2.7% +3.6% — +$11M 41 May 31, 2026 SEC
9 HDGEAdvisorShares Active Bear ETFActive AdvisorShares 3.62% $61M −4.4% −6.3% 3.65% −$9.8M 21 Jun 30, 2026 SEC
10 EHLSEven Herd Long Short ETFActive Even 2.62% $58M +8.4% +5.5% — −$1.1M 30 Jun 30, 2026 SEC
11 FFLSThe Future Fund Long/Short ETF The Future — $46M +0.8% −5.9% 6.53% — 14 —
12 HDGProShares Hedge Replication ETF ProShares 0.95% $22M +4.8% +5.3% 2.29% −$3.6M 19 Oct 9, 2026 issuer
13 HELSHedgeye 130/30 Equity ETF Hedgeye 0.70% $22M −0.4% — 0.02% −$3.4M 45 Jul 31, 2026 SEC
14 HFDGA Core Plus Absolute Return ETF DGA 1.70% $21M +7.3% +6.5% 0.88% −$24K 18 Apr 30, 2026 SEC
15 LBAYLeatherback Long/Short Alternative Yield ETFActive Leatherback 1.20% $17M +5.1% +1.1% 3.95% −$625K 25 May 31, 2026 SEC
16 HFEQUnlimited HFEQ Equity Long/Short ETFActive Unlimited 0.96% $16M +11.8% +0.5% 9.44% −$3.0M 24 May 31, 2026 SEC
17 LSEQHarbor Long-Short Equity ETFActive Harbor 2.28% $16M +24.0% +24.2% 1.78% +$58K 26 Apr 30, 2026 SEC
18 FARXFrontier Asset Absolute Return ETFActive Frontier 0.95% $16M +12.0% +11.9% 2.69% $0 21 Apr 30, 2026 SEC
19 NTRLFirst Trust Equity Market Neutral ETFActive First Trust 0.95% $14M — — 5.62% −$9.4M 29 Apr 30, 2026 SEC
20 SHRTGotham Short Strategies ETFActive Gotham 1.35% $12M −11.0% −8.4% 0.08% −$1.1M 28 Jun 30, 2026 SEC
21 WTLSWisdomTree Efficient Long/Short U.S. Equity FundActive WisdomTree 0.88% $12M — — — −$4.4M 23 Jun 30, 2026 SEC
22 DWSHAdvisorShares Dorsey Wright Short ETFActive AdvisorShares 6.22% $8.7M −8.8% −13.2% 6.99% +$1.7M 7 Jun 30, 2026 SEC
23 RNMNRiverNorth Market Neutral ETFActive RiverNorth 0.89% $7.1M — — — +$1.0M 35 Jun 30, 2026 SEC
24 AINTFINQ DOLLAR NEUTRAL U.S. Large Cap AI-Managed Equity ETF FINQ 1.25% $6.5M — — — +$2.8M 16 Jun 30, 2026 SEC
25 CLIXProShares Long Online/Short Stores ETF ProShares 0.65% $6.2M −2.8% −4.0% 0.47% $0 34 Oct 9, 2026 issuer
26 NLSINEOS Long/Short Equity Income ETFActive NEOS 2.89% $4.6M +15.1% — 3.83% +$2.1M 13 Jun 30, 2026 SEC
27 DBARiMGP DBi Absolute Return ETF iMGP — — — — — — — —
28 WSLSWisdomTree Efficient Long/Short U.S. SmallCap Equity Fund WisdomTree — — — — — — — —

Sorted by assets; click a column to re-sort. 3M flow is each fund's latest three reported months. Returns are price returns and exclude distributions.

Other Alternative categories

Fund data comes from each fund's SEC filings and issuer disclosures and is shown with the date it is as of. SEC portfolio and flow filings become public about 60 days after the period they cover. Nothing here is investment advice; see Terms.