CBLS vs. BIZD
CBLS (Clough Hedged Equity ETF) and BIZD (VanEck BDC Income ETF) are both exchange-traded funds - CBLS is a Long-Short fund actively managed by Clough, while BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index. CBLS is actively managed, while BIZD is passively managed. Over the past 5 years, CBLS returned 3.87%/yr vs 4.58%/yr for BIZD. Their 0.42 correlation means their historical movements had little consistent relationship. CBLS charges 1.95%/yr vs 12.86%/yr for BIZD.
Performance
CBLS vs. BIZD - Performance Comparison
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Returns By Period
In the year-to-date period, CBLS achieves a 9.99% return, which is significantly higher than BIZD's -7.38% return.
CBLS
- 1D
- 0.39%
- 1M
- -8.11%
- 6M
- 0.45%
- YTD
- 9.99%
- 1Y
- 6.27%
- 3Y*
- 16.15%
- 5Y*
- 3.87%
- 10Y*
- —
- ALL TIME*
- 7.64%
BIZD
- 1D
- -0.16%
- 1M
- -0.88%
- 6M
- -6.19%
- YTD
- -7.38%
- 1Y
- -13.09%
- 3Y*
- 3.10%
- 5Y*
- 4.58%
- 10Y*
- 7.22%
- ALL TIME*
- 6.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $36.52M | $40.73M | $41.70M | |
| $136.56K | $124.70K | $136.61K |
CBLS vs. BIZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CBLS Clough Hedged Equity ETF | 9.99% | 5.87% | 28.74% | -2.67% | -11.64% | 2.85% | 14.82% |
BIZD VanEck BDC Income ETF | -7.38% | -4.96% | 15.63% | 27.02% | -8.51% | 36.25% | 10.97% |
Correlation
The correlation between CBLS and BIZD is 0.13, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.13 |
Correlation (3Y) Balances recent behavior with more history. | 0.27 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.41 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2020 | 0.42 |
Over the past year, the correlation between CBLS and BIZD has dropped to 0.13 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
CBLS vs. BIZD — Risk / Return Rank
CBLS
BIZD
CBLS vs. BIZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Clough Hedged Equity ETF (CBLS) and VanEck BDC Income ETF (BIZD). 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.
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.
| CBLS | BIZD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.05 | ||
| Sortino ratioReturn per unit of downside risk | +1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.89 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | -0.75 | +1.14 |
| Martin ratioReturn relative to average drawdown | 1.22 | -1.27 | +2.49 |
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Drawdowns
CBLS vs. BIZD - Drawdown Comparison
The maximum CBLS drawdown since its inception was -32.78%, smaller than the maximum BIZD drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for CBLS and BIZD.
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Drawdown Indicators
| CBLS | BIZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.78% | -55.44% | +22.66% |
Max Drawdown (1Y)Largest decline over 1 year | -13.02% | -18.99% | +5.97% |
Max Drawdown (3Y)Largest decline over 3 years | -15.27% | -22.56% | +7.29% |
Max Drawdown (5Y)Largest decline over 5 years | -31.24% | -22.91% | -8.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -55.44% | — |
Current DrawdownCurrent decline from peak | -11.78% | -17.85% | +6.07% |
Average DrawdownAverage peak-to-trough decline | -12.57% | -6.85% | -5.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.10% | 11.35% | -7.25% |
Volatility
CBLS vs. BIZD - Volatility Comparison
Clough Hedged Equity ETF (CBLS) has a higher volatility of 5.32% compared to VanEck BDC Income ETF (BIZD) at 4.68%. This indicates that CBLS's price experiences larger fluctuations and is considered to be riskier than BIZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBLS | BIZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 4.68% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 14.78% | 15.09% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.45% | 18.80% | -1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.92% | 17.51% | -1.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.34% | 21.81% | -5.47% |
CBLS vs. BIZD - Expense Ratio Comparison
CBLS has a 1.95% expense ratio, which is lower than BIZD's 12.86% expense ratio.
Dividends
CBLS vs. BIZD - Dividend Comparison
CBLS's dividend yield for the trailing twelve months is around 0.82%, less than BIZD's 12.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | 12.29% | 11.78% | 10.94% | 10.96% | 11.21% | 8.14% | 10.39% | 9.13% | 10.88% | 9.13% | 8.51% | 9.12% |
CBLS Clough Hedged Equity ETF | 0.82% | 0.90% | 0.73% | 0.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CBLS and BIZD have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CBLS has higher volatility (5.32%) compared to BIZD (4.68%). In terms of maximum drawdown, CBLS dropped -32.78% vs BIZD's -55.44%.
On 5-year performance, BIZD leads with 4.58% vs 3.87% for CBLS. On fees, CBLS is cheaper at 1.95% per year. On volatility, BIZD has been the lower-risk option at 4.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BIZD has performed better with a 4.58% return vs 3.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CBLS is cheaper with a 1.95% expense ratio, compared with 12.86% for BIZD.
BIZD has the higher dividend yield at 12.29%, compared with 0.82% for CBLS.
CBLS is categorized as Long-Short, while BIZD is Financials Equities. They also come from different issuers: Clough and VanEck. Their fees differ too: 1.95% for CBLS and 12.86% for BIZD.
CBLS currently has the higher Sharpe Ratio (0.29 vs -0.76), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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