CBLS vs. EQLS

Last updated Aug 2, 2026

CBLS (Clough Hedged Equity ETF) and EQLS (Simplify Market Neutral Equity Long/Short ETF) are both Long-Short funds. Both are actively managed. Their 0.08 correlation means their historical movements had little consistent relationship. CBLS charges 1.95%/yr vs 1.00%/yr for EQLS.

Performance

CBLS vs. EQLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Clough Hedged Equity ETF (CBLS) and Simplify Market Neutral Equity Long/Short ETF (EQLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

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%

EQLS

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CBLS Clough Hedged Equity ETF	$136.56K	$124.70K	$136.61K

CBLS vs. EQLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CBLS Clough Hedged Equity ETF	9.99%	5.87%	28.74%	2.68%
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	6.82%	-4.82%	-3.67%

Correlation

The correlation between CBLS and EQLS is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	0.09
Correlation (All Time) Calculated using the full available price history since Jun 14, 2023	0.08

Return for Risk

CBLS vs. EQLS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CBLS

CBLS Risk / Return Rank: 17
CBLS Sharpe Ratio Rank: 17
CBLS Sortino Ratio Rank: 16
CBLS Omega Ratio Rank: 17
CBLS Calmar Ratio Rank: 17
CBLS Martin Ratio Rank: 20

EQLS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CBLS vs. EQLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Clough Hedged Equity ETF (CBLS) and Simplify Market Neutral Equity Long/Short ETF (EQLS). 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	EQLS	Difference
Sharpe ratio: Return per unit of total volatility	0.29	—	—
Sortino ratio: Return per unit of downside risk	0.49	—	—
Omega ratio: Gain probability vs. loss probability	1.06	—	—
Calmar ratio: Return relative to maximum drawdown	0.38	—	—
Martin ratio: Return relative to average drawdown	1.22	—	—

Drawdowns

Drawdown Indicators

	CBLS	EQLS	Difference
Max Drawdown Largest peak-to-trough decline	-32.78%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-13.02%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.27%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.24%	—	—
Current Drawdown Current decline from peak	-11.78%	—	—
Average Drawdown Average peak-to-trough decline	-12.57%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.10%	—	—

Volatility

Volatility by Period

	CBLS	EQLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.78%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.45%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.92%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.34%	—	—

CBLS vs. EQLS - Expense Ratio Comparison

CBLS has a 1.95% expense ratio, which is higher than EQLS's 1.00% expense ratio.

Dividends

CBLS vs. EQLS - Dividend Comparison

CBLS's dividend yield for the trailing twelve months is around 0.82%, while EQLS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
CBLS Clough Hedged Equity ETF	0.82%	0.90%	0.73%	0.44%
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	0.45%	0.95%	8.50%

Frequently Asked Questions

Can I hold both CBLS and EQLS in my portfolio?

CBLS and EQLS have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBLS or EQLS?

On fees, EQLS is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CBLS or EQLS?

EQLS is cheaper with a 1.00% expense ratio, compared with 1.95% for CBLS.

Which ETF pays a higher dividend yield, CBLS or EQLS?

CBLS has the higher dividend yield at 0.82%, compared with 0.00% for EQLS.

What is the main difference between CBLS and EQLS?

They also come from different issuers: Clough and Simplify. Their fees differ too: 1.95% for CBLS and 1.00% for EQLS.