FTLS vs. CLSE
Compare and contrast key facts about First Trust Long/Short Equity ETF (FTLS) and Convergence Long/Short Equity ETF (CLSE).
FTLS and CLSE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FTLS is an actively managed fund by First Trust. It was launched on Sep 9, 2014. 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: FTLS or CLSE.
Key characteristics
| FTLS | CLSE | |
|---|---|---|
| YTD Return | 6.37% | 17.80% |
| 1Y Return | 19.26% | 36.91% |
| Sharpe Ratio | 2.03 | 3.18 |
| Daily Std Dev | 9.36% | 11.17% |
| Max Drawdown | -20.53% | -14.28% |
| Current Drawdown | -3.15% | -3.41% |
Correlation
The correlation between FTLS and CLSE is 0.69, 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
FTLS vs. CLSE - Performance Comparison
In the year-to-date period, FTLS achieves a 6.37% return, which is significantly lower than CLSE's 17.80% 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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FTLS vs. CLSE - Expense Ratio Comparison
FTLS has a 1.60% expense ratio, which is higher than CLSE's 1.56% expense ratio.
Risk-Adjusted Performance
FTLS vs. CLSE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Long/Short Equity ETF (FTLS) and Convergence Long/Short Equity ETF (CLSE). 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
FTLS vs. CLSE - Dividend Comparison
FTLS's dividend yield for the trailing twelve months is around 1.40%, more than CLSE's 1.03% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
FTLS First Trust Long/Short Equity ETF | 1.40% | 1.49% | 0.81% | 0.01% | 0.44% | 0.83% | 0.87% | 0.43% | 1.04% | 0.49% | 0.51% |
CLSE Convergence Long/Short Equity ETF | 1.03% | 1.21% | 0.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FTLS vs. CLSE - Drawdown Comparison
The maximum FTLS drawdown since its inception was -20.53%, which is greater than CLSE's maximum drawdown of -14.28%. Use the drawdown chart below to compare losses from any high point for FTLS and CLSE. For additional features, visit the drawdowns tool.
Volatility
FTLS vs. CLSE - Volatility Comparison
The current volatility for First Trust Long/Short Equity ETF (FTLS) is 3.11%, while Convergence Long/Short Equity ETF (CLSE) has a volatility of 3.74%. This indicates that FTLS experiences smaller price fluctuations and is considered to be less risky than CLSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.