AGOX vs. CLSE
Compare and contrast key facts about Adaptive Alpha Opportunities ETF (AGOX) and Convergence Long/Short Equity ETF (CLSE).
AGOX and CLSE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AGOX is managed by Adaptive Funds. It was launched on Sep 20, 2012. CLSE is an actively managed fund by Convergence Investment Partners. It was launched on Feb 22, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: AGOX or CLSE.
Key characteristics
| AGOX | CLSE | |
|---|---|---|
| YTD Return | 1.82% | 19.38% |
| 1Y Return | 17.03% | 39.06% |
| Sharpe Ratio | 1.29 | 3.42 |
| Daily Std Dev | 12.66% | 11.15% |
| Max Drawdown | -27.73% | -14.28% |
| Current Drawdown | -6.17% | -2.12% |
Correlation
The correlation between AGOX and CLSE is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
AGOX vs. CLSE - Performance Comparison
In the year-to-date period, AGOX achieves a 1.82% return, which is significantly lower than CLSE's 19.38% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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AGOX vs. CLSE - Expense Ratio Comparison
AGOX has a 1.69% expense ratio, which is higher than CLSE's 1.56% expense ratio.
Risk-Adjusted Performance
AGOX vs. CLSE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Adaptive Alpha Opportunities ETF (AGOX) and Convergence Long/Short Equity ETF (CLSE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
AGOX vs. CLSE - Dividend Comparison
AGOX's dividend yield for the trailing twelve months is around 0.26%, less than CLSE's 1.01% yield.
| TTM | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
AGOX Adaptive Alpha Opportunities ETF | 0.26% | 0.27% | 0.20% | 3.65% |
CLSE Convergence Long/Short Equity ETF | 1.01% | 1.21% | 0.85% | 0.00% |
Drawdowns
AGOX vs. CLSE - Drawdown Comparison
The maximum AGOX drawdown since its inception was -27.73%, which is greater than CLSE's maximum drawdown of -14.28%. Use the drawdown chart below to compare losses from any high point for AGOX and CLSE. For additional features, visit the drawdowns tool.
Volatility
AGOX vs. CLSE - Volatility Comparison
Adaptive Alpha Opportunities ETF (AGOX) has a higher volatility of 5.20% compared to Convergence Long/Short Equity ETF (CLSE) at 3.95%. This indicates that AGOX's price experiences larger fluctuations and is considered to be riskier than CLSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.