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 correlation of -0.00, they often move in opposite directions. 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 -2.17% return, which is significantly lower than HEFT's 3.44% return.
CLIX
- 1D
- -1.56%
- 1M
- 5.49%
- 6M
- -4.57%
- YTD
- -2.17%
- 1Y
- 12.66%
- 3Y*
- 17.15%
- 5Y*
- -5.82%
- 10Y*
- —
HEFT
- 1D
- 0.00%
- 1M
- -0.81%
- 6M
- -2.57%
- YTD
- 3.44%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CLIX vs. HEFT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | -2.17% | 4.81% |
HEFT Hedgeye Fourth Turning ETF | 3.44% | 1.10% |
Correlation
The correlation between CLIX and HEFT is -0.00, 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 21, 2025 | -0.00 |
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Return for Risk
CLIX vs. HEFT — Risk / Return Rank
CLIX
HEFT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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.
| CLIX | HEFT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.11 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | — | — |
| Martin ratioReturn relative to average drawdown | 1.59 | — | — |
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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 | -66.03% | — | — |
Current DrawdownCurrent decline from peak | -42.21% | -6.67% | -35.54% |
Average DrawdownAverage peak-to-trough decline | -34.82% | -3.60% | -31.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.96% | — | — |
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 | 6.27% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 16.89% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 21.82% | 13.05% | +8.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.86% | 13.05% | +13.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.88% | 13.05% | +12.83% |
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 0.54%, more than HEFT's 0.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | 0.54% | 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 -0.00, 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 0.54%, 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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