This paper argues for a particular view about in what metaphysical equivalence consists: namely, that any two metaphysical theories are metaphysically equivalent if and only if those theories are strongly hyperintensionally equivalent. It is consistent with this characterisation that said theories are weakly hyperintensionally distinct, thus affording us the resources to model the content of propositional attitudes directed towards metaphysically equivalent theories in such a way that non-ideal agents can bear different propositional attitudes towards metaphysically equivalent theories.