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.
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
Key characteristics
CLSE:
2.74
SPY:
2.17
CLSE:
3.72
SPY:
2.88
CLSE:
1.48
SPY:
1.41
CLSE:
4.91
SPY:
3.19
CLSE:
18.90
SPY:
14.10
CLSE:
1.92%
SPY:
1.90%
CLSE:
13.27%
SPY:
12.39%
CLSE:
-14.28%
SPY:
-55.19%
CLSE:
-3.12%
SPY:
-3.19%
Returns By Period
In the year-to-date period, CLSE achieves a 36.96% return, which is significantly higher than SPY's 24.97% return.
CLSE
36.96%
-1.31%
8.59%
36.04%
N/A
N/A
SPY
24.97%
-0.32%
8.25%
26.85%
14.57%
12.92%
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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 0.92%, more than SPY's 0.87% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLSE Convergence Long/Short Equity ETF | 0.92% | 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 | 0.87% | 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) has a higher volatility of 5.48% compared to SPDR S&P 500 ETF (SPY) at 3.64%. This indicates that CLSE's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.