Convergence Long/Short Equity ETF (CLSE)
CLSE is an actively managed ETF by Convergence Investment Partners. CLSE launched on Feb 22, 2022 and has a 1.56% expense ratio.
ETF Info
| ISIN | US89834G7604 |
|---|---|
| CUSIP | 89834G760 |
| Issuer | Convergence Investment Partners |
| Inception Date | Feb 22, 2022 |
| Region | North America (U.S.) |
| Category | Long-Short |
| Leveraged | 1x |
| Index Tracked | No Index (Active) |
| Asset Class | Alternatives |
Expense Ratio
CLSE has a high expense ratio of 1.56%, indicating higher-than-average management fees.
Share Price Chart
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Compare to other instruments
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Popular comparisons: CLSE vs. FTLS, CLSE vs. SPY, CLSE vs. DFND, CLSE vs. QAI, CLSE vs. ADME, CLSE vs. AGOX, CLSE vs. GBTC, CLSE vs. SVXY, CLSE vs. HTUS, CLSE vs. SCHG
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Convergence Long/Short Equity ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Convergence Long/Short Equity ETF had a return of 39.43% year-to-date (YTD) and 40.17% in the last 12 months.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 39.43% | 25.48% |
| 1 month | 4.30% | 2.14% |
| 6 months | 13.45% | 12.76% |
| 1 year | 40.17% | 33.14% |
| 5 years (annualized) | N/A | 13.96% |
| 10 years (annualized) | N/A | 11.39% |
Monthly Returns
The table below presents the monthly returns of CLSE, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 5.36% | 9.13% | 4.23% | -1.91% | 4.29% | 2.53% | -1.49% | 2.70% | 2.67% | 1.53% | 39.43% | ||
| 2023 | -1.21% | 1.33% | 3.11% | -1.16% | 0.29% | 5.22% | 1.67% | 1.34% | -0.66% | 0.22% | 5.06% | 1.31% | 17.54% |
| 2022 | 2.77% | 2.55% | -2.10% | 1.56% | -8.12% | 3.95% | -3.20% | -4.62% | 7.68% | 3.35% | -3.98% | -1.26% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of CLSE is 91, placing it in the top 9% of ETFs on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Convergence Long/Short Equity ETF (CLSE) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Convergence Long/Short Equity ETF provided a 0.87% dividend yield over the last twelve months, with an annual payout of $0.21 per share.
| Period | TTM | 2023 | 2022 |
|---|---|---|---|
| Dividend | $0.21 | $0.21 | $0.13 |
Dividend yield | 0.87% | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| 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.
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 14.28%, occurring on Sep 30, 2022. Recovery took 197 trading sessions.
The current Convergence Long/Short Equity ETF drawdown is 1.04%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -14.28% | Apr 21, 2022 | 113 | Sep 30, 2022 | 197 | Jul 17, 2023 | 310 |
| -7.41% | Jul 11, 2024 | 18 | Aug 5, 2024 | 32 | Sep 19, 2024 | 50 |
| -4.78% | Oct 12, 2023 | 11 | Oct 26, 2023 | 10 | Nov 9, 2023 | 21 |
| -4.66% | Apr 8, 2024 | 10 | Apr 19, 2024 | 13 | May 8, 2024 | 23 |
| -3.66% | Mar 28, 2022 | 7 | Apr 5, 2022 | 10 | Apr 20, 2022 | 17 |
Volatility
Volatility Chart
The current Convergence Long/Short Equity ETF volatility is 3.71%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.