CBSE vs. MDLV

Last updated Jun 4, 2026

CBSE (Clough Select Equity ETF) and MDLV (Morgan Dempsey Large Cap Value ETF) are both Large Cap Value Equities funds. Both are actively managed. Over the past 3 years, CBSE returned 31.65%/yr vs 12.68%/yr for MDLV. At a 0.41 correlation, their price movements are largely independent. CBSE charges 0.85%/yr vs 0.58%/yr for MDLV.

Performance

CBSE vs. MDLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Clough Select Equity ETF (CBSE) and Morgan Dempsey Large Cap Value ETF (MDLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBSE achieves a 32.18% return, which is significantly higher than MDLV's 10.21% return.

CBSE

• 1D: -0.93%
• 1M: 10.89%
• YTD: 32.18%
• 6M: 29.85%
• 1Y: 51.66%
• 3Y*: 31.65%
• 5Y*: 12.52%
• 10Y*: —

MDLV

• 1D: -0.45%
• 1M: 1.67%
• YTD: 10.21%
• 6M: 11.06%
• 1Y: 19.98%
• 3Y*: 12.68%
• 5Y*: —
• 10Y*: —

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

CBSE vs. MDLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CBSE Clough Select Equity ETF	32.18%	19.53%	32.20%	10.68%
MDLV Morgan Dempsey Large Cap Value ETF	10.21%	13.30%	10.16%	0.68%

Correlation

The correlation between CBSE and MDLV is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since Apr 27, 2023	0.41

Return for Risk

CBSE vs. MDLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CBSE

CBSE Risk / Return Rank: 67
CBSE Sharpe Ratio Rank: 70
CBSE Sortino Ratio Rank: 65
CBSE Omega Ratio Rank: 61
CBSE Calmar Ratio Rank: 76
CBSE Martin Ratio Rank: 64

MDLV

MDLV Risk / Return Rank: 75
MDLV Sharpe Ratio Rank: 71
MDLV Sortino Ratio Rank: 75
MDLV Omega Ratio Rank: 66
MDLV Calmar Ratio Rank: 85
MDLV Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CBSE vs. MDLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Clough Select Equity ETF (CBSE) and Morgan Dempsey Large Cap Value ETF (MDLV). 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	MDLV	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.29	+0.01
Sortino ratio: Return per unit of downside risk	3.02	3.35	-0.34
Omega ratio: Gain probability vs. loss probability	1.37	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	3.83	4.70	-0.88
Martin ratio: Return relative to average drawdown	11.59	14.78	-3.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBSE vs. MDLV - Sharpe Ratio Comparison

The current CBSE Sharpe Ratio is 2.30, which is comparable to the MDLV Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of CBSE and MDLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CBSE	MDLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.29	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	1.06	-0.26

Drawdowns

CBSE vs. MDLV - Drawdown Comparison

The maximum CBSE drawdown since its inception was -36.30%, which is greater than MDLV's maximum drawdown of -10.71%. Use the drawdown chart below to compare losses from any high point for CBSE and MDLV.

Drawdown Indicators

	CBSE	MDLV	Difference
Max Drawdown Largest peak-to-trough decline	-36.30%	-10.71%	-25.59%
Max Drawdown (1Y) Largest decline over 1 year	-13.57%	-4.27%	-9.30%
Max Drawdown (3Y) Largest decline over 3 years	-29.40%	-10.71%	-18.69%
Max Drawdown (5Y) Largest decline over 5 years	-36.30%	—	—
Current Drawdown Current decline from peak	-0.93%	-1.08%	+0.15%
Average Drawdown Average peak-to-trough decline	-12.31%	-2.29%	-10.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.47%	1.36%	+3.11%

Volatility

CBSE vs. MDLV - Volatility Comparison

Clough Select Equity ETF (CBSE) has a higher volatility of 7.80% compared to Morgan Dempsey Large Cap Value ETF (MDLV) at 2.77%. This indicates that CBSE's price experiences larger fluctuations and is considered to be riskier than MDLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBSE	MDLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.80%	2.77%	+5.03%
Volatility (6M) Calculated over the trailing 6-month period	17.58%	6.57%	+11.01%
Volatility (1Y) Calculated over the trailing 1-year period	22.55%	8.76%	+13.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.06%	10.52%	+13.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.79%	10.52%	+13.27%

CBSE vs. MDLV - Expense Ratio Comparison

CBSE has a 0.85% expense ratio, which is higher than MDLV's 0.58% expense ratio.

Dividends

CBSE vs. MDLV - Dividend Comparison

CBSE's dividend yield for the trailing twelve months is around 0.26%, less than MDLV's 2.80% yield.

Position	TTM	2025	2024	2023	2022
CBSE Clough Select Equity ETF	0.26%	0.35%	0.37%	1.50%	0.52%
MDLV Morgan Dempsey Large Cap Value ETF	2.80%	3.00%	2.78%	2.35%	0.00%

Frequently Asked Questions

Can I hold both CBSE and MDLV in my portfolio?

CBSE and MDLV have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CBSE or MDLV?

CBSE has higher volatility (7.80%) compared to MDLV (2.77%). In terms of maximum drawdown, CBSE dropped -36.30% vs MDLV's -10.71%.

Which ETF is better, CBSE or MDLV?

On 3-year performance, CBSE leads with 31.65% vs 12.68% for MDLV. On fees, MDLV is cheaper at 0.58% per year. On volatility, MDLV has been the lower-risk option at 2.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CBSE or MDLV?

Over the 3-year period, CBSE has performed better with a 31.65% return vs 12.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CBSE or MDLV?

MDLV is cheaper with a 0.58% expense ratio, compared with 0.85% for CBSE.

Which ETF pays a higher dividend yield, CBSE or MDLV?

MDLV has the higher dividend yield at 2.80%, compared with 0.26% for CBSE.

What is the main difference between CBSE and MDLV?

They also come from different issuers: Clough and Morgan Dempsey. Their fees differ too: 0.85% for CBSE and 0.58% for MDLV.

Which has better risk-adjusted returns?

CBSE currently has the higher Sharpe Ratio (2.30 vs 2.29), 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.