CLSM vs. DALI

Last updated Jun 4, 2026

CLSM (Cabana Target Leading Sector Moderate ETF) and DALI (First Trust Dorsey Wright DALI 1 ETF) are both Tactical Allocation funds - CLSM tracks the Actively Managed while DALI tracks the Dorsey Wright DALI 1 Index. Both are passively managed. Over the past 3 years, CLSM returned 13.75%/yr vs 7.87%/yr for DALI. A 0.59 correlation means they provide meaningful diversification when combined. CLSM charges 0.82%/yr vs 0.90%/yr for DALI.

Performance

CLSM vs. DALI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cabana Target Leading Sector Moderate ETF (CLSM) and First Trust Dorsey Wright DALI 1 ETF (DALI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLSM achieves a 20.45% return, which is significantly higher than DALI's 7.72% return.

CLSM

• 1D: -0.38%
• 1M: 9.23%
• YTD: 20.45%
• 6M: 20.19%
• 1Y: 34.21%
• 3Y*: 13.75%
• 5Y*: —
• 10Y*: —

DALI

• 1D: -0.79%
• 1M: 2.87%
• YTD: 7.72%
• 6M: 8.33%
• 1Y: 21.34%
• 3Y*: 7.87%
• 5Y*: 5.41%
• 10Y*: —

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

CLSM vs. DALI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CLSM Cabana Target Leading Sector Moderate ETF	20.45%	15.32%	1.87%	3.78%	-23.23%	9.10%
DALI First Trust Dorsey Wright DALI 1 ETF	7.72%	11.89%	19.93%	-8.48%	-8.10%	6.09%

Correlation

The correlation between CLSM and DALI is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021	0.59

Over the past year, CLSM and DALI have become more correlated (0.84) than their long-term average of 0.59, meaning their price movements have been converging.

CLSM vs. DALI - Sectors Allocation Comparison

Sectors	CLSM	DALI
Technology	51.8%	10.5%
Consumer Defensive	34.8%	3.5%
Communication Services	5.5%	3.0%
Consumer Cyclical	4.4%	9.1%
Healthcare	1.4%	3.3%
Industrials	1.0%	29.9%
Utilities	0.5%	5.5%
Basic Materials	0.4%	9.9%
Energy	0.2%	9.6%
Financial Services	0.1%	10.5%
Real Estate	0.0%	5.3%

Return for Risk

CLSM vs. DALI — Risk / Return Rank

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

CLSM

CLSM Risk / Return Rank: 82
CLSM Sharpe Ratio Rank: 83
CLSM Sortino Ratio Rank: 80
CLSM Omega Ratio Rank: 83
CLSM Calmar Ratio Rank: 80
CLSM Martin Ratio Rank: 83

DALI

DALI Risk / Return Rank: 35
DALI Sharpe Ratio Rank: 34
DALI Sortino Ratio Rank: 33
DALI Omega Ratio Rank: 33
DALI Calmar Ratio Rank: 34
DALI Martin Ratio Rank: 40

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.

CLSM vs. DALI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cabana Target Leading Sector Moderate ETF (CLSM) and First Trust Dorsey Wright DALI 1 ETF (DALI). 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.

	CLSM	DALI	Difference
Sharpe ratio Return per unit of total volatility	2.71	1.24	+1.47
Sortino ratio Return per unit of downside risk	3.58	1.77	+1.81
Omega ratio Gain probability vs. loss probability	1.50	1.23	+0.27
Calmar ratio Return relative to maximum drawdown	4.04	1.71	+2.34
Martin ratio Return relative to average drawdown	16.72	6.33	+10.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLSM vs. DALI - Sharpe Ratio Comparison

The current CLSM Sharpe Ratio is 2.71, which is higher than the DALI Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of CLSM and DALI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CLSM	DALI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	1.24	+1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.31	+0.04

Drawdowns

CLSM vs. DALI - Drawdown Comparison

The maximum CLSM drawdown since its inception was -27.77%, smaller than the maximum DALI drawdown of -36.06%. Use the drawdown chart below to compare losses from any high point for CLSM and DALI.

Drawdown Indicators

	CLSM	DALI	Difference
Max Drawdown Largest peak-to-trough decline	-27.77%	-36.06%	+8.29%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	-12.54%	+4.04%
Max Drawdown (3Y) Largest decline over 3 years	-14.60%	-23.30%	+8.70%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.26%	—
Current Drawdown Current decline from peak	-0.38%	-1.40%	+1.02%
Average Drawdown Average peak-to-trough decline	-16.49%	-10.14%	-6.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	3.38%	-1.33%

Volatility

CLSM vs. DALI - Volatility Comparison

The current volatility for Cabana Target Leading Sector Moderate ETF (CLSM) is 3.58%, while First Trust Dorsey Wright DALI 1 ETF (DALI) has a volatility of 6.49%. This indicates that CLSM experiences smaller price fluctuations and is considered to be less risky than DALI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLSM	DALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	6.49%	-2.91%
Volatility (6M) Calculated over the trailing 6-month period	10.54%	14.37%	-3.83%
Volatility (1Y) Calculated over the trailing 1-year period	12.70%	17.31%	-4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.47%	19.66%	-7.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.47%	20.92%	-8.45%

CLSM vs. DALI - Expense Ratio Comparison

CLSM has a 0.82% expense ratio, which is lower than DALI's 0.90% expense ratio.

Dividends

CLSM vs. DALI - Dividend Comparison

CLSM's dividend yield for the trailing twelve months is around 0.75%, more than DALI's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CLSM Cabana Target Leading Sector Moderate ETF	0.75%	0.90%	2.13%	2.58%	3.17%	0.59%	0.00%	0.00%	0.00%
DALI First Trust Dorsey Wright DALI 1 ETF	0.38%	0.38%	0.18%	3.42%	0.50%	0.11%	1.25%	0.45%	0.17%

Frequently Asked Questions

Can I hold both CLSM and DALI in my portfolio?

CLSM and DALI have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLSM or DALI?

DALI has higher volatility (6.49%) compared to CLSM (3.58%). In terms of maximum drawdown, CLSM dropped -27.77% vs DALI's -36.06%.

Which ETF is better, CLSM or DALI?

On 3-year performance, CLSM leads with 13.75% vs 7.87% for DALI. On fees, CLSM is cheaper at 0.82% per year. On volatility, CLSM has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLSM or DALI?

Over the 3-year period, CLSM has performed better with a 13.75% return vs 7.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLSM or DALI?

CLSM is cheaper with a 0.82% expense ratio, compared with 0.90% for DALI.

Which ETF pays a higher dividend yield, CLSM or DALI?

CLSM has the higher dividend yield at 0.75%, compared with 0.38% for DALI.

What is the main difference between CLSM and DALI?

CLSM tracks Actively Managed, while DALI tracks Dorsey Wright DALI 1 Index. They also come from different issuers: Cabana and First Trust. Their fees differ too: 0.82% for CLSM and 0.90% for DALI.

Which has better risk-adjusted returns?

CLSM currently has the higher Sharpe Ratio (2.71 vs 1.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.