GGRW vs. CLSE
Compare and contrast key facts about Gabelli Growth Innovators ETF (GGRW) and Convergence Long/Short Equity ETF (CLSE).
GGRW and CLSE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GGRW is an actively managed fund by GAMCO Investors, Inc.. It was launched on Feb 16, 2021. 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: GGRW or CLSE.
Key characteristics
| GGRW | CLSE | |
|---|---|---|
| YTD Return | 23.69% | 22.90% |
| 1Y Return | 52.17% | 41.12% |
| Sharpe Ratio | 2.99 | 3.66 |
| Daily Std Dev | 17.44% | 11.33% |
| Max Drawdown | -50.28% | -14.28% |
| Current Drawdown | -9.83% | 0.00% |
Correlation
The correlation between GGRW and CLSE is 0.56, 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
GGRW vs. CLSE - Performance Comparison
The year-to-date returns for both stocks are quite close, with GGRW having a 23.69% return and CLSE slightly lower at 22.90%. 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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GGRW vs. CLSE - Expense Ratio Comparison
GGRW has a 0.90% expense ratio, which is lower than CLSE's 1.56% expense ratio.
Risk-Adjusted Performance
GGRW vs. CLSE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Gabelli Growth Innovators ETF (GGRW) 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
GGRW vs. CLSE - Dividend Comparison
GGRW has not paid dividends to shareholders, while CLSE's dividend yield for the trailing twelve months is around 0.98%.
| TTM | 2023 | 2022 | |
|---|---|---|---|
GGRW Gabelli Growth Innovators ETF | 0.00% | 0.00% | 0.00% |
CLSE Convergence Long/Short Equity ETF | 0.98% | 1.21% | 0.85% |
Drawdowns
GGRW vs. CLSE - Drawdown Comparison
The maximum GGRW drawdown since its inception was -50.28%, which is greater than CLSE's maximum drawdown of -14.28%. Use the drawdown chart below to compare losses from any high point for GGRW and CLSE. For additional features, visit the drawdowns tool.
Volatility
GGRW vs. CLSE - Volatility Comparison
Gabelli Growth Innovators ETF (GGRW) has a higher volatility of 6.42% compared to Convergence Long/Short Equity ETF (CLSE) at 3.94%. This indicates that GGRW's price experiences larger fluctuations and is considered to be riskier than CLSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.