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CBLS vs. CLSE
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

CBLS vs. CLSE

Last updated May 13, 2025

Compare and contrast key facts about Changebridge Capital Long/Short Equity ETF (CBLS) and Convergence Long/Short Equity ETF (CLSE).

CBLS and CLSE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CBLS is an actively managed fund by Changebridge Capital LLC. It was launched on Nov 13, 2020. 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: CBLS or CLSE.

Correlation

The correlation between CBLS and CLSE is 0.64, 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

CBLS vs. CLSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Changebridge Capital Long/Short Equity ETF (CBLS) and Convergence Long/Short Equity ETF (CLSE). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

CBLS:

0.79

CLSE:

0.48

Sortino Ratio

CBLS:

1.26

CLSE:

0.70

Omega Ratio

CBLS:

1.19

CLSE:

1.10

Calmar Ratio

CBLS:

1.03

CLSE:

0.46

Martin Ratio

CBLS:

2.85

CLSE:

1.44

Ulcer Index

CBLS:

5.52%

CLSE:

5.30%

Daily Std Dev

CBLS:

16.49%

CLSE:

16.29%

Max Drawdown

CBLS:

-32.78%

CLSE:

-16.45%

Current Drawdown

CBLS:

-3.88%

CLSE:

-7.52%

Returns By Period

In the year-to-date period, CBLS achieves a 5.47% return, which is significantly higher than CLSE's -2.79% return.

CBLS

YTD

5.47%

1M

7.43%

6M

4.13%

1Y

12.89%

5Y*

N/A

10Y*

N/A

CLSE

YTD

-2.79%

1M

5.00%

6M

-6.02%

1Y

7.72%

5Y*

N/A

10Y*

N/A

*Annualized

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CBLS vs. CLSE - Expense Ratio Comparison

CBLS has a 1.95% expense ratio, which is higher than CLSE's 1.56% expense ratio.

CBLS
Changebridge Capital Long/Short Equity ETF
CLSE
Convergence Long/Short Equity ETF

Risk-Adjusted Performance

CBLS vs. CLSE — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CBLS
The Risk-Adjusted Performance Rank of CBLS is 7575
Overall Rank
The Sharpe Ratio Rank of CBLS is 7373
Sharpe Ratio Rank
The Sortino Ratio Rank of CBLS is 7474
Sortino Ratio Rank
The Omega Ratio Rank of CBLS is 7878
Omega Ratio Rank
The Calmar Ratio Rank of CBLS is 8282
Calmar Ratio Rank
The Martin Ratio Rank of CBLS is 6969
Martin Ratio Rank
CLSE
The Risk-Adjusted Performance Rank of CLSE is 4444
Overall Rank
The Sharpe Ratio Rank of CLSE is 4747
Sharpe Ratio Rank
The Sortino Ratio Rank of CLSE is 4040
Sortino Ratio Rank
The Omega Ratio Rank of CLSE is 4040
Omega Ratio Rank
The Calmar Ratio Rank of CLSE is 5151
Calmar Ratio Rank
The Martin Ratio Rank of CLSE is 4343
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

CBLS vs. CLSE - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Changebridge Capital Long/Short Equity ETF (CBLS) 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.

The current CBLS Sharpe Ratio is 0.79, which is higher than the CLSE Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of CBLS and CLSE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Dividends

CBLS vs. CLSE - Dividend Comparison

CBLS's dividend yield for the trailing twelve months is around 0.69%, less than CLSE's 0.95% yield.

TTM202420232022
CBLS
Changebridge Capital Long/Short Equity ETF		0.69%0.73%0.44%0.00%
CLSE
Convergence Long/Short Equity ETF		0.95%0.93%1.21%0.85%

Drawdowns

CBLS vs. CLSE - Drawdown Comparison

The maximum CBLS drawdown since its inception was -32.78%, which is greater than CLSE's maximum drawdown of -16.45%. Use the drawdown chart below to compare losses from any high point for CBLS and CLSE. For additional features, visit the drawdowns tool.

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Volatility

CBLS vs. CLSE - Volatility Comparison

The current volatility for Changebridge Capital Long/Short Equity ETF (CBLS) is 3.26%, while Convergence Long/Short Equity ETF (CLSE) has a volatility of 3.68%. This indicates that CBLS experiences smaller price fluctuations and is considered to be less risky than CLSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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