- Issuer
- Clough
- Inception Date
- Nov 13, 2020
- Region
- North America (U.S.)
- Category
- Long-Short
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
- Assets Under Management
- $57M
Highlights
- Avg. Volume (1M)
- 4K
- Avg. Volume Value (1M)
- $124.70K
Share Price Chart
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Performance
CBLS Performance Chart
Clough Hedged Equity ETF (CBLS) is up 10.0% since the beginning of the year. CBLS is currently trading at $30 per share. Investors who bought $1,000 worth of CBLS shares 5 years ago would now be looking at an investment worth $1,209.
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Returns By Period
Clough Hedged Equity ETF (CBLS) has returned 9.99% so far this year and 6.27% over the past 12 months.
Clough Hedged Equity ETF
- 1D
- 0.39%
- 1M
- -8.11%
- 6M
- 0.45%
- YTD
- 9.99%
- 1Y
- 6.27%
- 3Y*
- 16.15%
- 5Y*
- 3.87%
- 10Y*
- —
- ALL TIME*
- 7.64%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
CBLS Monthly Returns History
Based on dividend-adjusted daily data since Nov 13, 2020, CBLS's average daily return is +0.03%, while the average monthly return is +0.73%. At this rate, an investment would double in approximately 7.9 years.
Historically, 54% of months were positive and 46% were negative. The best month was Feb 2021 with a return of +15.3%, while the worst month was Jul 2026 at -11.2%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.
On a daily basis, CBLS closed higher 55% of trading days. The best single day was Jun 2, 2026 with a return of +3.3%, while the worst single day was Jan 27, 2025 at -7.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.49% | 1.63% | -6.21% | 9.71% | 3.58% | 4.43% | -11.20% | 9.99% | |||||
| 2025 | 2.02% | 1.27% | -3.45% | 2.62% | 5.19% | 1.78% | 1.21% | -3.59% | 2.60% | -1.35% | -0.79% | -1.41% | 5.87% |
| 2024 | 2.51% | 5.74% | 3.20% | 0.13% | 10.24% | 1.06% | 0.97% | -2.35% | 0.22% | -0.07% | 6.02% | -1.44% | 28.74% |
| 2023 | 3.47% | -1.72% | -2.61% | -2.37% | -2.83% | -0.65% | 0.58% | -1.72% | -2.53% | -1.25% | 6.18% | 3.23% | -2.67% |
| 2022 | -2.80% | 1.22% | -3.49% | -7.41% | 1.79% | -9.04% | 10.01% | 6.27% | -5.43% | 8.65% | -8.02% | -1.76% | -11.64% |
| 2021 | -0.29% | 15.29% | -0.53% | 2.68% | -3.44% | -2.07% | -1.21% | 1.67% | 0.54% | 0.39% | -6.24% | -2.55% | 2.85% |
Benchmark Metrics
Clough Hedged Equity ETF has an annualized alpha of -0.30%, beta of 0.62, and R2 of 0.39 versus S&P 500 Index. Calculated based on daily prices since November 13, 2020.
- This ETF participated in 59.86% of S&P 500 Index downside but only 49.75% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.62 may look defensive, but with R2 of 0.39 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.39 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -0.30%
- Beta
- 0.62
- R²
- 0.39
- Upside Capture
- 49.75%
- Downside Capture
- 59.86%
Expense Ratio
CBLS has a high expense ratio of 1.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CBLS ranks 18 for risk / return — above 18% of ETFs peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Clough Hedged Equity ETF (CBLS) and compare them to S&P 500 Index.
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.
| CBLS | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.25 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | 2.00 | -1.62 |
| Martin ratioReturn relative to average drawdown | 1.22 | 8.49 | -7.27 |
Dividends
Dividend History
Clough Hedged Equity ETF provided a 0.82% dividend yield over the last twelve months, with an annual payout of $0.25 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.25 | $0.25 | $0.19 | $0.09 |
Dividend yield | 0.82% | 0.90% | 0.73% | 0.44% |
Monthly Dividends
The table displays the monthly dividend distributions for Clough Hedged Equity ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.25 | $0.25 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.19 | $0.19 |
| 2023 | $0.09 | $0.09 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Clough Hedged Equity ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Clough Hedged Equity ETF was 32.78%, occurring on Oct 5, 2023. Recovery took 319 trading sessions.
The current Clough Hedged Equity ETF drawdown is 11.78%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-32.78%Oct 2023 | 2y 5mo | 1y 3mo | 3y 8moApr 2021 - Jan 2025 | — |
-15.27%Apr 2025 | 2mo 15d | 3mo 10d | 5mo 25dJan 2025 - Jul 2025 | 2025 selloff2025 |
-13.02%Jul 2026 | 1mo 24d | — | 1mo 29dJun 2026 - now | — |
-8.46%Jan 2021 | 2d | 9d | 11dJan 2021 - Feb 2021 | — |
-8.15%Nov 2025 | 27d | 2mo 1d | 2mo 28dOct 2025 - Jan 2026 | — |
Drawdown Indicators
| CBLS | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.78% | -56.78% | +24.00% |
Max Drawdown (1Y)Largest decline over 1 year | -13.02% | -9.10% | -3.92% |
Max Drawdown (3Y)Largest decline over 3 years | -15.27% | -18.90% | +3.63% |
Max Drawdown (5Y)Largest decline over 5 years | -31.24% | -25.43% | -5.81% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -11.78% | -1.58% | -10.20% |
Average DrawdownAverage peak-to-trough decline | -12.57% | -10.70% | -1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.10% | 2.14% | +1.96% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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