CLSE vs. SPY
Compare and contrast key facts about Convergence Long/Short Equity ETF (CLSE) and SPDR S&P 500 ETF (SPY).
CLSE and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CLSE is an actively managed fund by Convergence Investment Partners. It was launched on Feb 22, 2022. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CLSE or SPY.
Key characteristics
| CLSE | SPY | |
|---|---|---|
| YTD Return | 39.43% | 26.83% |
| 1Y Return | 40.17% | 34.88% |
| Sharpe Ratio | 3.26 | 3.08 |
| Sortino Ratio | 4.55 | 4.10 |
| Omega Ratio | 1.57 | 1.58 |
| Calmar Ratio | 5.51 | 4.46 |
| Martin Ratio | 22.23 | 20.22 |
| Ulcer Index | 1.84% | 1.85% |
| Daily Std Dev | 12.53% | 12.18% |
| Max Drawdown | -14.28% | -55.19% |
| Current Drawdown | -1.04% | -0.26% |
Correlation
The correlation between CLSE and SPY is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
CLSE vs. SPY - Performance Comparison
In the year-to-date period, CLSE achieves a 39.43% return, which is significantly higher than SPY's 26.83% 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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CLSE vs. SPY - Expense Ratio Comparison
CLSE has a 1.56% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
CLSE vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Convergence Long/Short Equity ETF (CLSE) and SPDR S&P 500 ETF (SPY). 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. SPY - Dividend Comparison
CLSE's dividend yield for the trailing twelve months is around 0.87%, less than SPY's 1.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLSE Convergence Long/Short Equity ETF | 0.87% | 1.21% | 0.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.17% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
CLSE vs. SPY - Drawdown Comparison
The maximum CLSE drawdown since its inception was -14.28%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CLSE and SPY. For additional features, visit the drawdowns tool.
Volatility
CLSE vs. SPY - Volatility Comparison
Convergence Long/Short Equity ETF (CLSE) and SPDR S&P 500 ETF (SPY) have volatilities of 3.71% and 3.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.