CBSE vs. HDV
CBSE (Clough Select Equity ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - CBSE is a Large Cap Value Equities fund actively managed by Clough, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. CBSE is actively managed, while HDV is passively managed. Over the past 5 years, CBSE returned 12.52%/yr vs 10.32%/yr for HDV. At a 0.44 correlation, their price movements are largely independent. CBSE charges 0.85%/yr vs 0.08%/yr for HDV.
Performance
CBSE vs. HDV - Performance Comparison
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Returns By Period
In the year-to-date period, CBSE achieves a 32.18% return, which is significantly higher than HDV's 12.69% return.
CBSE
- 1D
- -0.93%
- 1M
- 10.89%
- YTD
- 32.18%
- 6M
- 29.85%
- 1Y
- 51.66%
- 3Y*
- 31.65%
- 5Y*
- 12.52%
- 10Y*
- —
HDV
- 1D
- 0.37%
- 1M
- 0.29%
- YTD
- 12.69%
- 6M
- 12.16%
- 1Y
- 20.35%
- 3Y*
- 14.94%
- 5Y*
- 10.32%
- 10Y*
- 9.26%
CBSE vs. HDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CBSE Clough Select Equity ETF | 32.18% | 19.53% | 32.20% | 17.29% | -19.92% | 14.57% | 16.87% |
HDV iShares Core High Dividend ETF | 12.69% | 11.90% | 14.16% | 1.72% | 7.05% | 19.45% | 3.20% |
Correlation
The correlation between CBSE and HDV is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2020 | 0.44 |
Over the past year, the correlation between CBSE and HDV has dropped to 0.16 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.
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Return for Risk
CBSE vs. HDV — Risk / Return Rank
CBSE
HDV
CBSE vs. HDV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Clough Select Equity ETF (CBSE) and iShares Core High Dividend ETF (HDV). 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.
| CBSE | HDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.36 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.83 | 3.95 | -0.12 |
| Martin ratioReturn relative to average drawdown | 11.59 | 11.02 | +0.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CBSE | HDV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.30 | 2.10 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.81 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.80 | 0.72 | +0.08 |
Drawdowns
CBSE vs. HDV - Drawdown Comparison
The maximum CBSE drawdown since its inception was -36.30%, roughly equal to the maximum HDV drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for CBSE and HDV.
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Drawdown Indicators
| CBSE | HDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.30% | -37.04% | +0.74% |
Max Drawdown (1Y)Largest decline over 1 year | -13.57% | -5.18% | -8.39% |
Max Drawdown (3Y)Largest decline over 3 years | -29.40% | -10.49% | -18.91% |
Max Drawdown (5Y)Largest decline over 5 years | -36.30% | -15.42% | -20.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.04% | — |
Current DrawdownCurrent decline from peak | -0.93% | -2.54% | +1.61% |
Average DrawdownAverage peak-to-trough decline | -12.31% | -3.09% | -9.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.47% | 1.85% | +2.62% |
Volatility
CBSE vs. HDV - Volatility Comparison
Clough Select Equity ETF (CBSE) has a higher volatility of 7.80% compared to iShares Core High Dividend ETF (HDV) at 3.19%. This indicates that CBSE's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBSE | HDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.80% | 3.19% | +4.61% |
Volatility (6M)Calculated over the trailing 6-month period | 17.58% | 7.56% | +10.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.55% | 9.73% | +12.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.06% | 12.82% | +11.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.79% | 15.73% | +8.06% |
CBSE vs. HDV - Expense Ratio Comparison
CBSE has a 0.85% expense ratio, which is higher than HDV's 0.08% expense ratio.
Dividends
CBSE vs. HDV - Dividend Comparison
CBSE's dividend yield for the trailing twelve months is around 0.26%, less than HDV's 2.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBSE Clough Select Equity ETF | 0.26% | 0.35% | 0.37% | 1.50% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HDV iShares Core High Dividend ETF | 2.91% | 3.22% | 3.67% | 3.82% | 3.56% | 3.47% | 4.07% | 3.27% | 3.67% | 3.27% | 3.28% | 3.92% |
Frequently Asked Questions
CBSE and HDV have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CBSE has higher volatility (7.80%) compared to HDV (3.19%). In terms of maximum drawdown, CBSE dropped -36.30% vs HDV's -37.04%.
On 5-year performance, CBSE leads with 12.52% vs 10.32% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CBSE has performed better with a 12.52% return vs 10.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HDV is cheaper with a 0.08% expense ratio, compared with 0.85% for CBSE.
HDV has the higher dividend yield at 2.91%, compared with 0.26% for CBSE.
CBSE is categorized as Large Cap Value Equities, while HDV is Dividend. They also come from different issuers: Clough and iShares. Their fees differ too: 0.85% for CBSE and 0.08% for HDV.
CBSE currently has the higher Sharpe Ratio (2.30 vs 2.10), 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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