Convergence Long/Short Equity ETF (CLSE)

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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.

Convergence Long/Short Equity ETF (CLSE) has returned 2.96% so far this year and 31.47% over the past 12 months.

Based on dividend-adjusted daily data since Feb 22, 2022, CLSE's average daily return is +0.07%, while the average monthly return is +1.36%. At this rate, your investment would double in approximately 4.3 years.

Historically, 72% of months were positive and 28% were negative. The best month was Feb 2024 with a return of +9.1%, 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%.

Convergence Long/Short Equity ETF has an annualized alpha of 10.67%, beta of 0.57, and R² of 0.53 versus S&P 500 Index. Calculated based on daily prices since February 23, 2022.

• This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (79.51%) than losses (46.01%) — typical of diversified or defensive assets.
• This ETF generated an annualized alpha of 10.67% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
• Beta of 0.57 indicates this ETF moves significantly less than S&P 500 Index — a genuinely defensive profile with reduced participation in both market rallies and downturns.

CLSE has a high expense ratio of 1.56%, indicating above-average management fees.

CLSE ranks 94 for risk / return — in the top 94% 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.

The table below present risk-adjusted performance metrics for Convergence Long/Short Equity ETF (CLSE) and compare them to a chosen benchmark (S&P 500 Index).

Convergence Long/Short Equity ETF provided a 0.92% 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.

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.

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.

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 2.53%.

The chart below shows the rolling one-month volatility.