CLSE vs. GBTC
Compare and contrast key facts about Convergence Long/Short Equity ETF (CLSE) and Grayscale Bitcoin Trust (BTC) (GBTC).
CLSE is an actively managed fund by Convergence Investment Partners. It was launched on Feb 22, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CLSE or GBTC.
Key characteristics
| CLSE | GBTC | |
|---|---|---|
| YTD Return | 40.90% | 105.75% |
| 1Y Return | 42.33% | 145.11% |
| Sharpe Ratio | 3.43 | 2.32 |
| Sortino Ratio | 4.77 | 2.80 |
| Omega Ratio | 1.60 | 1.33 |
| Calmar Ratio | 5.77 | 2.67 |
| Martin Ratio | 23.29 | 8.91 |
| Ulcer Index | 1.84% | 15.46% |
| Daily Std Dev | 12.47% | 59.35% |
| Max Drawdown | -14.28% | -89.91% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between CLSE and GBTC is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
CLSE vs. GBTC - Performance Comparison
In the year-to-date period, CLSE achieves a 40.90% return, which is significantly lower than GBTC's 105.75% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
CLSE vs. GBTC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Convergence Long/Short Equity ETF (CLSE) and Grayscale Bitcoin Trust (BTC) (GBTC). 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.
Dividends
CLSE vs. GBTC - Dividend Comparison
CLSE's dividend yield for the trailing twelve months is around 0.86%, while GBTC has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
CLSE Convergence Long/Short Equity ETF | 0.86% | 1.21% | 0.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GBTC Grayscale Bitcoin Trust (BTC) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.23% |
Drawdowns
CLSE vs. GBTC - Drawdown Comparison
The maximum CLSE drawdown since its inception was -14.28%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for CLSE and GBTC. For additional features, visit the drawdowns tool.
Volatility
CLSE vs. GBTC - Volatility Comparison
The current volatility for Convergence Long/Short Equity ETF (CLSE) is 3.57%, while Grayscale Bitcoin Trust (BTC) (GBTC) has a volatility of 17.76%. This indicates that CLSE experiences smaller price fluctuations and is considered to be less risky than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.