CEFS vs. HTUS

Last updated Jun 4, 2026

CEFS (Saba Closed-End Funds ETF) and HTUS (Hull Tactical US ETF) are both exchange-traded funds - CEFS is a Event Driven fund actively managed by Exchange Traded Concepts, while HTUS is a Long-Short fund actively managed by Exchange Traded Concepts. Both are actively managed. Over the past 5 years, CEFS returned 13.85%/yr vs 15.35%/yr for HTUS. A 0.50 correlation means they provide meaningful diversification when combined. CEFS charges 1.29%/yr vs 0.97%/yr for HTUS.

Performance

CEFS vs. HTUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Saba Closed-End Funds ETF (CEFS) and Hull Tactical US ETF (HTUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CEFS achieves a 13.75% return, which is significantly higher than HTUS's 11.33% return.

CEFS

• 1D: -0.51%
• 1M: 4.35%
• YTD: 13.75%
• 6M: 15.64%
• 1Y: 25.00%
• 3Y*: 22.04%
• 5Y*: 13.85%
• 10Y*: —

HTUS

• 1D: -0.55%
• 1M: 5.04%
• YTD: 11.33%
• 6M: 12.04%
• 1Y: 28.96%
• 3Y*: 22.15%
• 5Y*: 15.35%
• 10Y*: 12.52%

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

CEFS vs. HTUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CEFS Saba Closed-End Funds ETF	13.75%	16.67%	23.48%	20.99%	-7.08%	17.86%	3.40%	28.41%	-9.97%	7.63%
HTUS Hull Tactical US ETF	11.33%	16.57%	25.02%	30.11%	-13.00%	24.29%	13.21%	20.27%	-10.04%	7.87%

Correlation

The correlation between CEFS and HTUS is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jun 14, 2017	0.50

The correlation between CEFS and HTUS has been stable across timeframes, ranging from 0.50 to 0.60 - a consistent structural relationship.

CEFS vs. HTUS - Sectors Allocation Comparison

Sectors	CEFS	HTUS
Financial Services	48.9%	11.8%
Technology	12.4%	35.6%
Energy	11.2%	3.5%
Industrials	6.7%	8.3%
Healthcare	4.6%	8.5%
Utilities	4.2%	2.4%
Communication Services	4.1%	11.2%
Consumer Cyclical	3.3%	10.1%
Consumer Defensive	1.8%	4.9%
Basic Materials	1.6%	1.8%
Real Estate	1.2%	1.9%

Return for Risk

CEFS vs. HTUS — Risk / Return Rank

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

CEFS

CEFS Risk / Return Rank: 80
CEFS Sharpe Ratio Rank: 76
CEFS Sortino Ratio Rank: 81
CEFS Omega Ratio Rank: 78
CEFS Calmar Ratio Rank: 82
CEFS Martin Ratio Rank: 83

HTUS

HTUS Risk / Return Rank: 78
HTUS Sharpe Ratio Rank: 77
HTUS Sortino Ratio Rank: 82
HTUS Omega Ratio Rank: 81
HTUS Calmar Ratio Rank: 67
HTUS Martin Ratio Rank: 84

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.

CEFS vs. HTUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saba Closed-End Funds ETF (CEFS) and Hull Tactical US ETF (HTUS). 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.

	CEFS	HTUS	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.53	0.00
Sortino ratio: Return per unit of downside risk	3.71	3.71	0.00
Omega ratio: Gain probability vs. loss probability	1.48	1.50	-0.02
Calmar ratio: Return relative to maximum drawdown	4.43	3.35	+1.08
Martin ratio: Return relative to average drawdown	17.26	17.27	-0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CEFS vs. HTUS - Sharpe Ratio Comparison

The current CEFS Sharpe Ratio is 2.53, which is comparable to the HTUS Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of CEFS and HTUS, 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

	CEFS	HTUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.53	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.06	0.81	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.58	+0.22

Drawdowns

CEFS vs. HTUS - Drawdown Comparison

The maximum CEFS drawdown since its inception was -38.99%, smaller than the maximum HTUS drawdown of -47.50%. Use the drawdown chart below to compare losses from any high point for CEFS and HTUS.

Drawdown Indicators

	CEFS	HTUS	Difference
Max Drawdown Largest peak-to-trough decline	-38.99%	-47.50%	+8.51%
Max Drawdown (1Y) Largest decline over 1 year	-5.67%	-8.68%	+3.01%
Max Drawdown (3Y) Largest decline over 3 years	-13.37%	-24.41%	+11.04%
Max Drawdown (5Y) Largest decline over 5 years	-16.85%	-24.41%	+7.56%
Max Drawdown (10Y) Largest decline over 10 years	—	-47.50%	—
Current Drawdown Current decline from peak	-0.51%	-0.55%	+0.04%
Average Drawdown Average peak-to-trough decline	-3.67%	-4.06%	+0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	1.68%	-0.23%

Volatility

CEFS vs. HTUS - Volatility Comparison

Saba Closed-End Funds ETF (CEFS) has a higher volatility of 3.37% compared to Hull Tactical US ETF (HTUS) at 2.47%. This indicates that CEFS's price experiences larger fluctuations and is considered to be riskier than HTUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CEFS	HTUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	2.47%	+0.90%
Volatility (6M) Calculated over the trailing 6-month period	8.56%	9.39%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	9.95%	11.50%	-1.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.08%	19.03%	-5.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.33%	21.45%	-6.12%

CEFS vs. HTUS - Expense Ratio Comparison

CEFS has a 1.29% expense ratio, which is higher than HTUS's 0.97% expense ratio.

Dividends

CEFS vs. HTUS - Dividend Comparison

CEFS's dividend yield for the trailing twelve months is around 7.10%, less than HTUS's 10.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CEFS Saba Closed-End Funds ETF	7.10%	7.84%	8.79%	9.20%	11.32%	10.73%	8.61%	8.10%	10.43%	5.02%	0.00%
HTUS Hull Tactical US ETF	10.68%	11.89%	17.80%	1.18%	5.63%	7.20%	3.77%	0.92%	8.69%	8.29%	3.02%

Frequently Asked Questions

Can I hold both CEFS and HTUS in my portfolio?

CEFS and HTUS have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CEFS or HTUS?

CEFS has higher volatility (3.37%) compared to HTUS (2.47%). In terms of maximum drawdown, CEFS dropped -38.99% vs HTUS's -47.50%.

Which ETF is better, CEFS or HTUS?

On 5-year performance, HTUS leads with 15.35% vs 13.85% for CEFS. On fees, HTUS is cheaper at 0.97% per year. On volatility, HTUS has been the lower-risk option at 2.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CEFS or HTUS?

Over the 5-year period, HTUS has performed better with a 15.35% return vs 13.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CEFS or HTUS?

HTUS is cheaper with a 0.97% expense ratio, compared with 1.29% for CEFS.

Which ETF pays a higher dividend yield, CEFS or HTUS?

HTUS has the higher dividend yield at 10.68%, compared with 7.10% for CEFS.

What is the main difference between CEFS and HTUS?

CEFS is categorized as Event Driven, while HTUS is Long-Short. Their fees differ too: 1.29% for CEFS and 0.97% for HTUS.

Which has better risk-adjusted returns?

CEFS currently has the higher Sharpe Ratio (2.53 vs 2.53), 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.