Even Herd Long Short ETF (EHLS) is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing in a portfolio of long and short positions across U.S. equities, focusing on small- and mid-cap companies with high growth potential while hedging against market downturns through short exposures; it employs a fundamental research-driven strategy emphasizing quality growth stocks, value discrepancies, and risk management techniques such as options overlays and sector diversification. The fund offers daily liquidity on major U.S. exchanges, transparent holdings disclosures, and competitive expense ratios tailored for retail and institutional investors seeking alternatives to traditional long-only equity funds. EHLS operates primarily in the U.S. financial markets, targeting sophisticated investors including high-net-worth individuals, family offices, and registered investment advisors.
Launched in 2024 and domiciled in the United States with administrative operations managed from New York, the ETF represents a segment of the alternative investment industry blending long-short equity strategies with ETF accessibility. In late 2025, EHLS announced a strategic partnership with a leading quantitative research firm to enhance its alpha generation models using machine learning algorithms for position sizing and risk parity. Additionally, the fund completed a $150 million seed capital raise from institutional limited partners in Q3 2025 and expanded its investment universe to include select international small-caps listed on U.S. exchanges, marking a shift toward global diversification amid U.S. market volatility. No subsidiaries or parent entities are reported, with independent oversight by a board of trustees and third-party custodians.