DDX vs. CLSM

Last updated Jun 4, 2026

DDX (Defined Duration 10 ETF) and CLSM (Cabana Target Leading Sector Moderate ETF) are both exchange-traded funds - DDX is a Diversified Portfolio fund actively managed by Discipline Funds, while CLSM is a Tactical Allocation fund tracking the Actively Managed. DDX is actively managed, while CLSM is passively managed. Over the past 3 years, DDX returned 8.16%/yr vs 13.75%/yr for CLSM. A 0.61 correlation means they provide meaningful diversification when combined. DDX charges 0.25%/yr vs 0.82%/yr for CLSM.

Performance

DDX vs. CLSM - Performance Comparison

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

Returns By Period

In the year-to-date period, DDX achieves a 4.86% return, which is significantly lower than CLSM's 20.45% return.

DDX

• 1D: -0.24%
• 1M: 2.02%
• YTD: 4.86%
• 6M: 5.43%
• 1Y: 12.79%
• 3Y*: 8.16%
• 5Y*: —
• 10Y*: —

CLSM

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

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

DDX vs. CLSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DDX Defined Duration 10 ETF	4.86%	12.02%	2.93%	10.48%	-16.19%	1.34%
CLSM Cabana Target Leading Sector Moderate ETF	20.45%	15.32%	1.87%	3.78%	-23.23%	8.96%

Correlation

The correlation between DDX and CLSM is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (All Time) Calculated using the full available price history since Sep 21, 2021	0.61

The correlation between DDX and CLSM has been stable across timeframes, ranging from 0.61 to 0.70 - a consistent structural relationship.

DDX vs. CLSM - Sectors Allocation Comparison

Sectors	DDX	CLSM
Financial Services	21.9%	0.1%
Technology	15.4%	51.8%
Industrials	14.5%	1.0%
Healthcare	10.3%	1.4%
Consumer Cyclical	8.7%	4.4%
Consumer Defensive	7.1%	34.8%
Communication Services	6.0%	5.5%
Energy	5.0%	0.2%
Basic Materials	5.0%	0.4%
Utilities	3.5%	0.5%
Real Estate	2.7%	0.0%

Return for Risk

DDX vs. CLSM — Risk / Return Rank

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

DDX

DDX Risk / Return Rank: 70
DDX Sharpe Ratio Rank: 72
DDX Sortino Ratio Rank: 78
DDX Omega Ratio Rank: 76
DDX Calmar Ratio Rank: 59
DDX Martin Ratio Rank: 65

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

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.

DDX vs. CLSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defined Duration 10 ETF (DDX) and Cabana Target Leading Sector Moderate ETF (CLSM). 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.

	DDX	CLSM	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.71	-0.36
Sortino ratio: Return per unit of downside risk	3.49	3.58	-0.09
Omega ratio: Gain probability vs. loss probability	1.45	1.50	-0.05
Calmar ratio: Return relative to maximum drawdown	2.91	4.04	-1.13
Martin ratio: Return relative to average drawdown	11.71	16.72	-5.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DDX vs. CLSM - Sharpe Ratio Comparison

The current DDX Sharpe Ratio is 2.35, which is comparable to the CLSM Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of DDX and CLSM, 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

	DDX	CLSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.71	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.35	+0.02

Drawdowns

DDX vs. CLSM - Drawdown Comparison

The maximum DDX drawdown since its inception was -21.27%, smaller than the maximum CLSM drawdown of -27.77%. Use the drawdown chart below to compare losses from any high point for DDX and CLSM.

Drawdown Indicators

	DDX	CLSM	Difference
Max Drawdown Largest peak-to-trough decline	-21.27%	-27.77%	+6.50%
Max Drawdown (1Y) Largest decline over 1 year	-4.41%	-8.50%	+4.09%
Max Drawdown (3Y) Largest decline over 3 years	-6.17%	-14.60%	+8.43%
Current Drawdown Current decline from peak	-0.24%	-0.38%	+0.14%
Average Drawdown Average peak-to-trough decline	-7.12%	-16.49%	+9.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	2.05%	-0.96%

Volatility

DDX vs. CLSM - Volatility Comparison

The current volatility for Defined Duration 10 ETF (DDX) is 2.03%, while Cabana Target Leading Sector Moderate ETF (CLSM) has a volatility of 3.58%. This indicates that DDX experiences smaller price fluctuations and is considered to be less risky than CLSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDX	CLSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	3.58%	-1.55%
Volatility (6M) Calculated over the trailing 6-month period	4.46%	10.54%	-6.08%
Volatility (1Y) Calculated over the trailing 1-year period	5.47%	12.70%	-7.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.48%	12.47%	-4.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.48%	12.47%	-4.99%

DDX vs. CLSM - Expense Ratio Comparison

DDX has a 0.25% expense ratio, which is lower than CLSM's 0.82% expense ratio.

Dividends

DDX vs. CLSM - Dividend Comparison

DDX's dividend yield for the trailing twelve months is around 3.39%, more than CLSM's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021
CLSM Cabana Target Leading Sector Moderate ETF	0.75%	0.90%	2.13%	2.58%	3.17%	0.59%
DDX Defined Duration 10 ETF	3.39%	3.17%	3.11%	2.41%	1.38%	1.14%

Frequently Asked Questions

Can I hold both DDX and CLSM in my portfolio?

DDX and CLSM have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DDX or CLSM?

CLSM has higher volatility (3.58%) compared to DDX (2.03%). In terms of maximum drawdown, DDX dropped -21.27% vs CLSM's -27.77%.

Which ETF is better, DDX or CLSM?

On 3-year performance, CLSM leads with 13.75% vs 8.16% for DDX. On fees, DDX is cheaper at 0.25% per year. On volatility, DDX has been the lower-risk option at 2.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DDX or CLSM?

Over the 3-year period, CLSM has performed better with a 13.75% return vs 8.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DDX or CLSM?

DDX is cheaper with a 0.25% expense ratio, compared with 0.82% for CLSM.

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

DDX has the higher dividend yield at 3.39%, compared with 0.75% for CLSM.

What is the main difference between DDX and CLSM?

DDX is categorized as Diversified Portfolio, while CLSM is Tactical Allocation. They also come from different issuers: Discipline Funds and Cabana. Their fees differ too: 0.25% for DDX and 0.82% for CLSM.

Which has better risk-adjusted returns?

CLSM currently has the higher Sharpe Ratio (2.71 vs 2.35), 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.