CLIX vs. HEFT
CLIX (ProShares Long Online/Short Stores ETF) and HEFT (Hedgeye Fourth Turning ETF) are both Long-Short funds. CLIX is passively managed, while HEFT is actively managed. At a 0.03 correlation, their price movements are largely independent. CLIX charges 0.65%/yr vs 0.70%/yr for HEFT.
Performance
CLIX vs. HEFT - Performance Comparison
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Returns By Period
In the year-to-date period, CLIX achieves a -6.21% return, which is significantly lower than HEFT's 7.91% return.
CLIX
- 1D
- -2.35%
- 1M
- -6.73%
- YTD
- -6.21%
- 6M
- -6.37%
- 1Y
- 12.94%
- 3Y*
- 18.92%
- 5Y*
- -6.40%
- 10Y*
- —
HEFT
- 1D
- -0.02%
- 1M
- 4.12%
- YTD
- 7.91%
- 6M
- 7.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CLIX vs. HEFT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | -6.21% | 4.36% |
HEFT Hedgeye Fourth Turning ETF | 7.91% | 0.98% |
Correlation
The correlation between CLIX and HEFT is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 24, 2025 | 0.03 |
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Return for Risk
CLIX vs. HEFT — Risk / Return Rank
CLIX
HEFT
CLIX vs. HEFT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Long Online/Short Stores ETF (CLIX) and Hedgeye Fourth Turning ETF (HEFT). 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.
| CLIX | HEFT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.12 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | — | — |
| Martin ratioReturn relative to average drawdown | 1.81 | — | — |
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
| CLIX | HEFT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.24 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 1.44 | -1.27 |
Drawdowns
CLIX vs. HEFT - Drawdown Comparison
The maximum CLIX drawdown since its inception was -73.21%, which is greater than HEFT's maximum drawdown of -9.17%. Use the drawdown chart below to compare losses from any high point for CLIX and HEFT.
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Drawdown Indicators
| CLIX | HEFT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.21% | -9.17% | -64.04% |
Max Drawdown (1Y)Largest decline over 1 year | -19.57% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -21.18% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -68.22% | — | — |
Current DrawdownCurrent decline from peak | -44.59% | -2.64% | -41.95% |
Average DrawdownAverage peak-to-trough decline | -34.70% | -3.13% | -31.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.15% | — | — |
Volatility
CLIX vs. HEFT - Volatility Comparison
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Volatility by Period
| CLIX | HEFT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 15.59% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 20.89% | 12.53% | +8.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.94% | 12.53% | +14.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.92% | 12.53% | +13.39% |
CLIX vs. HEFT - Expense Ratio Comparison
CLIX has a 0.65% expense ratio, which is lower than HEFT's 0.70% expense ratio.
Dividends
CLIX vs. HEFT - Dividend Comparison
CLIX's dividend yield for the trailing twelve months is around 0.57%, more than HEFT's 0.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | 0.57% | 0.46% | 0.46% | 0.00% | 0.00% | 0.00% | 1.33% |
HEFT Hedgeye Fourth Turning ETF | 0.02% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CLIX and HEFT have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CLIX is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CLIX is cheaper with a 0.65% expense ratio, compared with 0.70% for HEFT.
CLIX has the higher dividend yield at 0.57%, compared with 0.02% for HEFT.
They also come from different issuers: ProShares and Hedgeye. Their fees differ too: 0.65% for CLIX and 0.70% for HEFT.
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