- ISIN
- US26922A4537
- CUSIP
- 26922A453
- Issuer
- ClearShares
- Inception Date
- Jul 10, 2018
- Category
- Ultrashort Bond
- Leveraged
- 1x (No leverage)
- Index Tracked
- ICE BofA U.S. Broad Market Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $118M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
OPER Performance Chart
ClearShares Ultra-Short Maturity ETF (OPER) is up 1.7% since the beginning of the year. OPER is currently trading at $100 per share. Investors who bought $1,000 worth of OPER shares 5 years ago would now be looking at an investment worth $1,198.
Loading charts...
Returns By Period
ClearShares Ultra-Short Maturity ETF (OPER) has returned 1.72% so far this year and 4.04% over the past 12 months.
ClearShares Ultra-Short Maturity ETF
- 1D
- -0.01%
- 1M
- 0.29%
- YTD
- 1.72%
- 6M
- 1.82%
- 1Y
- 4.04%
- 3Y*
- 4.76%
- 5Y*
- 3.68%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
OPER Monthly Returns History
Based on dividend-adjusted daily data since Jul 11, 2018, OPER's average daily return is +0.01%, while the average monthly return is +0.23%. At this rate, an investment would double in approximately 25.1 years.
Historically, 99% of months were positive and 1% were negative. The best month was Aug 2024 with a return of +0.5%, while the worst month was Feb 2022 at -0.0%. The longest winning streak lasted 52 consecutive months, and the longest losing streak was 1 months.
On a daily basis, OPER closed higher 70% of trading days. The best single day was Nov 15, 2018 with a return of +2.4%, while the worst single day was Nov 19, 2018 at -2.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.30% | 0.29% | 0.31% | 0.28% | 0.32% | 0.20% | 1.72% | ||||||
| 2025 | 0.37% | 0.31% | 0.48% | 0.25% | 0.38% | 0.34% | 0.37% | 0.38% | 0.34% | 0.39% | 0.32% | 0.34% | 4.37% |
| 2024 | 0.47% | 0.45% | 0.41% | 0.47% | 0.46% | 0.39% | 0.46% | 0.51% | 0.38% | 0.42% | 0.40% | 0.39% | 5.34% |
| 2023 | 0.34% | 0.35% | 0.34% | 0.41% | 0.46% | 0.43% | 0.41% | 0.48% | 0.43% | 0.45% | 0.41% | 0.44% | 5.09% |
| 2022 | 0.04% | -0.04% | 0.07% | 0.04% | 0.05% | 0.10% | 0.12% | 0.21% | 0.21% | 0.26% | 0.33% | 0.35% | 1.76% |
| 2021 | 0.02% | 0.03% | 0.03% | 0.05% | 0.02% | 0.02% | 0.03% | 0.05% | 0.02% | 0.01% | 0.02% | 0.04% | 0.37% |
Benchmark Metrics
ClearShares Ultra-Short Maturity ETF has an annualized alpha of 2.78%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since July 11, 2018.
- This ETF captured 4.83% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -6.62%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.00 may look defensive, but with R2 of 0.00 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 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2.78%
- Beta
- 0.00
- R²
- 0.00
- Upside Capture
- 4.83%
- Downside Capture
- -6.62%
Expense Ratio
OPER has an expense ratio of 0.20%, which is considered low.
Return for Risk
Risk / Return Rank
OPER ranks 100 for risk / return — in the top 100% 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 ClearShares Ultra-Short Maturity ETF (OPER) 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.
| OPER | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +12.77 | ||
| Sortino ratioReturn per unit of downside risk | +40.13 | ||
| Omega ratioGain probability vs. loss probability | 12.57 | 1.37 | +11.20 |
| Calmar ratioReturn relative to maximum drawdown | 60.74 | 2.78 | +57.96 |
| Martin ratioReturn relative to average drawdown | 510.87 | 12.44 | +498.43 |
Dividends
Dividend History
ClearShares Ultra-Short Maturity ETF provided a 4.08% dividend yield over the last twelve months, with an annual payout of $4.09 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $4.09 | $4.32 | $5.21 | $5.03 | $1.71 | $0.36 | $0.64 | $2.09 | $0.89 |
Dividend yield | 4.08% | 4.32% | 5.21% | 5.03% | 1.71% | 0.36% | 0.64% | 2.08% | 0.89% |
Monthly Dividends
The table displays the monthly dividend distributions for ClearShares Ultra-Short Maturity 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 | $0.28 | $0.27 | $0.30 | $0.33 | $0.32 | $0.00 | $1.50 | ||||||
| 2025 | $0.32 | $0.34 | $0.36 | $0.38 | $0.33 | $0.31 | $0.40 | $0.38 | $0.45 | $0.38 | $0.35 | $0.32 | $4.32 |
| 2024 | $0.38 | $0.47 | $0.40 | $0.45 | $0.50 | $0.37 | $0.45 | $0.45 | $0.45 | $0.45 | $0.38 | $0.46 | $5.21 |
| 2023 | $0.29 | $0.35 | $0.39 | $0.38 | $0.40 | $0.35 | $0.42 | $0.47 | $0.54 | $0.44 | $0.46 | $0.54 | $5.03 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.04 | $0.06 | $0.07 | $0.12 | $0.18 | $0.21 | $0.26 | $0.30 | $0.42 | $1.71 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.06 | $0.36 |
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.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the ClearShares Ultra-Short Maturity 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 ClearShares Ultra-Short Maturity ETF was 2.33%, occurring on Nov 19, 2018. Recovery took 278 trading sessions.
The current ClearShares Ultra-Short Maturity ETF drawdown is 0.01%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Rate-hike selloffLate 2018 | -2.33%Nov 2018 | 0s | 1y 1mo | 1y 1moNov 2018 - Dec 2019 |
Bear market2022 | -0.13%Feb 2022 | 3d | 2mo 13d | 2mo 16dFeb 2022 - May 2022 |
2024 pullback2024 | -0.11%Apr 2024 | 0s | 1d | 1dApr 2024 - Apr 2024 |
COVID crash2020 | -0.11%Mar 2020 | 1d | 2mo 8d | 2mo 9dMar 2020 - May 2020 |
2025 selloff2025 | -0.09%Apr 2025 | 2d | 5d | 7dApr 2025 - Apr 2025 |
Drawdown Indicators
| OPER | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.33% | -56.78% | +54.45% |
Max Drawdown (1Y)Largest decline over 1 year | -0.07% | -9.10% | +9.03% |
Max Drawdown (3Y)Largest decline over 3 years | -0.11% | -18.90% | +18.79% |
Max Drawdown (5Y)Largest decline over 5 years | -0.13% | -25.43% | +25.30% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.01% | -1.80% | +1.79% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -10.71% | +10.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 2.03% | -2.02% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with OPER
Add ClearShares Ultra-Short Maturity ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with OPER