- ISIN
- US89834G7604
- CUSIP
- 89834G760
- Inception Date
- Feb 22, 2022
- 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
- $448M
Share Price Chart
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Performance
CLSE Performance Chart
Convergence Long/Short Equity ETF (CLSE) is up 23.9% since the beginning of the year. CLSE is currently trading at $34 per share.
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Returns By Period
Convergence Long/Short Equity ETF (CLSE) has returned 23.89% so far this year and 49.74% over the past 12 months.
Convergence Long/Short Equity ETF
- 1D
- 1.71%
- 1M
- 2.95%
- YTD
- 23.89%
- 6M
- 23.82%
- 1Y
- 49.74%
- 3Y*
- 31.49%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 1.75%
- 1M
- -0.09%
- YTD
- 8.02%
- 6M
- 7.15%
- 1Y
- 22.78%
- 3Y*
- 19.45%
- 5Y*
- 11.73%
- 10Y*
- 13.53%
CLSE Monthly Returns History
Based on dividend-adjusted daily data since Feb 22, 2022, CLSE's average daily return is +0.08%, while the average monthly return is +1.62%. At this rate, an investment would double in approximately 3.6 years.
Historically, 72% of months were positive and 28% were negative. The best month was Apr 2026 with a return of +11.2%, while the worst month was Jun 2022 at -8.1%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 2 months.
On a daily basis, CLSE closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +3.7%, while the worst single day was Apr 4, 2025 at -4.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.37% | 0.64% | -1.02% | 11.19% | 8.02% | 0.18% | 23.89% | ||||||
| 2025 | 1.88% | -2.78% | -4.76% | 1.02% | 5.04% | 1.92% | 3.17% | 1.74% | 6.16% | 2.92% | 2.05% | 0.89% | 20.44% |
| 2024 | 5.37% | 9.13% | 4.23% | -1.91% | 4.29% | 2.53% | -1.49% | 2.70% | 2.67% | 1.53% | 4.16% | -1.84% | 35.54% |
| 2023 | -1.21% | 1.33% | 3.11% | -1.16% | 0.29% | 5.23% | 1.67% | 1.34% | -0.66% | 0.22% | 5.06% | 1.31% | 17.54% |
| 2022 | -0.48% | 2.55% | -2.10% | 1.57% | -8.12% | 3.95% | -3.19% | -4.62% | 7.68% | 3.35% | -3.98% | -4.38% |
Benchmark Metrics
Convergence Long/Short Equity ETF has an annualized alpha of 12.77%, beta of 0.58, and R2 of 0.53 versus S&P 500 Index. Calculated based on daily prices since February 22, 2022.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (84.27%) than losses (44.25%) - typical of diversified or defensive assets.
- This ETF generated an annualized alpha of 12.77% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.58 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 12.77%
- Beta
- 0.58
- R²
- 0.53
- Upside Capture
- 84.27%
- Downside Capture
- 44.25%
Expense Ratio
CLSE has a high expense ratio of 1.56%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CLSE ranks 96 for risk / return — in the top 96% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Convergence Long/Short Equity ETF (CLSE) 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.
| CLSE | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.84 | ||
| Sortino ratioReturn per unit of downside risk | +2.44 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.34 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 10.31 | 2.52 | +7.79 |
| Martin ratioReturn relative to average drawdown | 37.60 | 11.31 | +26.28 |
Dividends
Dividend History
Convergence Long/Short Equity ETF provided a 0.77% dividend yield over the last twelve months, with an annual payout of $0.26 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.26 | $0.26 | $0.21 | $0.21 | $0.13 |
Dividend yield | 0.77% | 0.95% | 0.93% | 1.21% | 0.85% |
Monthly Dividends
The table displays the monthly dividend distributions for Convergence Long/Short 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 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.26 | $0.26 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.21 | $0.21 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.21 | $0.21 |
| 2022 | $0.13 | $0.13 |
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 Convergence Long/Short 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 Convergence Long/Short Equity ETF was 16.45%, occurring on Apr 4, 2025. Recovery took 80 trading sessions.
The current Convergence Long/Short Equity ETF drawdown is 1.48%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -16.45%Apr 2025 | 2mo 10d | 3mo 28d | 6mo 8dJan 2025 - Jul 2025 |
Bear market2022 | -14.28%Sep 2022 | 5mo 12d | 9mo 20d | 1y 2moApr 2022 - Jul 2023 |
2024 pullback2024 | -7.41%Aug 2024 | 25d | 1mo 15d | 2mo 10dJul 2024 - Sep 2024 |
2026 pullback2026 | -4.85%Mar 2026 | 1mo 2d | 8d | 1mo 10dFeb 2026 - Apr 2026 |
2023 pullback2023 | -4.78%Oct 2023 | 14d | 14d | 28dOct 2023 - Nov 2023 |
Drawdown Indicators
| CLSE | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.45% | -56.78% | +40.33% |
Max Drawdown (1Y)Largest decline over 1 year | -4.85% | -9.10% | +4.25% |
Max Drawdown (3Y)Largest decline over 3 years | -16.45% | -18.90% | +2.45% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.48% | -2.83% | +1.35% |
Average DrawdownAverage peak-to-trough decline | -3.58% | -10.72% | +7.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 2.02% | -0.69% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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