CLIX vs. MKTN

Last updated Jun 24, 2026

CLIX (ProShares Long Online/Short Stores ETF) and MKTN (Federated Hermes MDT Market Neutral ETF) are both Long-Short funds. CLIX is passively managed, while MKTN is actively managed. At a correlation of -0.02, they often move in opposite directions.

Performance

CLIX vs. MKTN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Long Online/Short Stores ETF (CLIX) and Federated Hermes MDT Market Neutral ETF (MKTN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLIX achieves a -8.57% return, which is significantly lower than MKTN's 0.14% return.

CLIX

• 1D: 0.70%
• 1M: -5.51%
• YTD: -8.57%
• 6M: -8.64%
• 1Y: 9.82%
• 3Y*: 17.63%
• 5Y*: -7.82%
• 10Y*: —

MKTN

• 1D: 0.31%
• 1M: -0.11%
• YTD: 0.14%
• 6M: 0.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLIX vs. MKTN - Yearly Performance Comparison

	2026 (YTD)	2025
CLIX ProShares Long Online/Short Stores ETF	-8.57%	1.02%
MKTN Federated Hermes MDT Market Neutral ETF	0.14%	3.22%

Correlation

The correlation between CLIX and MKTN is -0.02, 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 Sep 25, 2025	-0.02

Return for Risk

CLIX vs. MKTN — Risk / Return Rank

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

CLIX

CLIX Risk / Return Rank: 15
CLIX Sharpe Ratio Rank: 16
CLIX Sortino Ratio Rank: 15
CLIX Omega Ratio Rank: 15
CLIX Calmar Ratio Rank: 14
CLIX Martin Ratio Rank: 15

MKTN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

CLIX vs. MKTN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Long Online/Short Stores ETF (CLIX) and Federated Hermes MDT Market Neutral ETF (MKTN). 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	MKTN	Difference
Sharpe ratio: Return per unit of total volatility	0.46	—	—
Sortino ratio: Return per unit of downside risk	0.76	—	—
Omega ratio: Gain probability vs. loss probability	1.09	—	—
Calmar ratio: Return relative to maximum drawdown	0.50	—	—
Martin ratio: Return relative to average drawdown	1.29	—	—

Drawdowns

CLIX vs. MKTN - Drawdown Comparison

The maximum CLIX drawdown since its inception was -73.21%, which is greater than MKTN's maximum drawdown of -4.13%. Use the drawdown chart below to compare losses from any high point for CLIX and MKTN.

Drawdown Indicators

	CLIX	MKTN	Difference
Max Drawdown Largest peak-to-trough decline	-73.21%	-4.13%	-69.08%
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 Drawdown Current decline from peak	-45.99%	-1.76%	-44.23%
Average Drawdown Average peak-to-trough decline	-34.75%	-1.20%	-33.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.61%	—	—

Volatility

Volatility by Period

	CLIX	MKTN	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.64%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.31%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.47%	6.74%	+14.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.05%	6.74%	+20.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.92%	6.74%	+19.18%

Dividends

CLIX vs. MKTN - Dividend Comparison

CLIX's dividend yield for the trailing twelve months is around 0.58%, more than MKTN's 0.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CLIX ProShares Long Online/Short Stores ETF	0.58%	0.46%	0.46%	0.00%	0.00%	0.00%	1.33%
MKTN Federated Hermes MDT Market Neutral ETF	0.51%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CLIX and MKTN in my portfolio?

CLIX and MKTN have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, CLIX or MKTN?

CLIX has the higher dividend yield at 0.58%, compared with 0.51% for MKTN.

What is the main difference between CLIX and MKTN?

They also come from different issuers: ProShares and Federated Hermes.