GYLD vs. CLSM

Last updated Jun 4, 2026

GYLD (Arrow Dow Jones Global Yield ETF) and CLSM (Cabana Target Leading Sector Moderate ETF) are both exchange-traded funds - GYLD is a Diversified Portfolio fund tracking the DJ Brookfield Global Infrastructure Composite Yield, while CLSM is a Tactical Allocation fund tracking the Actively Managed. Both are passively managed. Over the past 3 years, GYLD returned 15.50%/yr vs 13.75%/yr for CLSM. At a 0.30 correlation, their price movements are largely independent. GYLD charges 0.75%/yr vs 0.82%/yr for CLSM.

Performance

GYLD vs. CLSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arrow Dow Jones Global Yield ETF (GYLD) 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, GYLD achieves a 7.91% return, which is significantly lower than CLSM's 20.45% return.

GYLD

• 1D: -0.42%
• 1M: -0.76%
• YTD: 7.91%
• 6M: 10.25%
• 1Y: 15.94%
• 3Y*: 15.50%
• 5Y*: 6.21%
• 10Y*: 4.68%

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)

GYLD vs. CLSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GYLD Arrow Dow Jones Global Yield ETF	7.91%	19.85%	3.83%	10.36%	-7.73%	0.20%
CLSM Cabana Target Leading Sector Moderate ETF	20.45%	15.32%	1.87%	3.78%	-23.23%	9.10%

Correlation

The correlation between GYLD and CLSM is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021	0.30

GYLD vs. CLSM - Sectors Allocation Comparison

Sectors	GYLD	CLSM
Real Estate	34.8%	0.0%
Energy	30.0%	0.2%
Financial Services	12.0%	0.1%
Basic Materials	7.5%	0.4%
Utilities	4.6%	0.5%
Industrials	4.3%	1.0%
Communication Services	2.7%	5.5%
Consumer Cyclical	2.5%	4.4%
Consumer Defensive	1.6%	34.8%
Healthcare	-	1.4%
Technology	-	51.8%

Return for Risk

GYLD vs. CLSM — Risk / Return Rank

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

GYLD

GYLD Risk / Return Rank: 45
GYLD Sharpe Ratio Rank: 34
GYLD Sortino Ratio Rank: 35
GYLD Omega Ratio Rank: 35
GYLD Calmar Ratio Rank: 66
GYLD Martin Ratio Rank: 54

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.

GYLD vs. CLSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arrow Dow Jones Global Yield ETF (GYLD) 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.

	GYLD	CLSM	Difference
Sharpe ratio: Return per unit of total volatility	1.26	2.71	-1.45
Sortino ratio: Return per unit of downside risk	1.86	3.58	-1.73
Omega ratio: Gain probability vs. loss probability	1.23	1.50	-0.26
Calmar ratio: Return relative to maximum drawdown	3.29	4.04	-0.75
Martin ratio: Return relative to average drawdown	9.19	16.72	-7.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GYLD vs. CLSM - Sharpe Ratio Comparison

The current GYLD Sharpe Ratio is 1.26, which is lower than the CLSM Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of GYLD 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

	GYLD	CLSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	2.71	-1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.35	-0.14

Drawdowns

GYLD vs. CLSM - Drawdown Comparison

The maximum GYLD drawdown since its inception was -55.03%, which is greater than CLSM's maximum drawdown of -27.77%. Use the drawdown chart below to compare losses from any high point for GYLD and CLSM.

Drawdown Indicators

	GYLD	CLSM	Difference
Max Drawdown Largest peak-to-trough decline	-55.03%	-27.77%	-27.26%
Max Drawdown (1Y) Largest decline over 1 year	-4.86%	-8.50%	+3.64%
Max Drawdown (3Y) Largest decline over 3 years	-8.37%	-14.60%	+6.23%
Max Drawdown (5Y) Largest decline over 5 years	-20.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.89%	—	—
Current Drawdown Current decline from peak	-1.71%	-0.38%	-1.33%
Average Drawdown Average peak-to-trough decline	-14.41%	-16.49%	+2.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	2.05%	-0.31%

Volatility

GYLD vs. CLSM - Volatility Comparison

The current volatility for Arrow Dow Jones Global Yield ETF (GYLD) is 3.16%, while Cabana Target Leading Sector Moderate ETF (CLSM) has a volatility of 3.58%. This indicates that GYLD 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

	GYLD	CLSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.16%	3.58%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	9.39%	10.54%	-1.15%
Volatility (1Y) Calculated over the trailing 1-year period	12.78%	12.70%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.79%	12.47%	+1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.58%	12.47%	+4.11%

GYLD vs. CLSM - Expense Ratio Comparison

GYLD has a 0.75% expense ratio, which is lower than CLSM's 0.82% expense ratio.

Dividends

GYLD vs. CLSM - Dividend Comparison

GYLD's dividend yield for the trailing twelve months is around 7.37%, more than CLSM's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%	0.00%
GYLD Arrow Dow Jones Global Yield ETF	7.37%	8.43%	12.90%	7.13%	4.64%	5.50%	7.42%	5.83%	8.17%	6.78%	7.29%	10.35%

Frequently Asked Questions

Can I hold both GYLD and CLSM in my portfolio?

GYLD and CLSM have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GYLD or CLSM?

CLSM has higher volatility (3.58%) compared to GYLD (3.16%). In terms of maximum drawdown, GYLD dropped -55.03% vs CLSM's -27.77%.

Which ETF is better, GYLD or CLSM?

On 3-year performance, GYLD leads with 15.50% vs 13.75% for CLSM. On fees, GYLD is cheaper at 0.75% per year. On volatility, GYLD has been the lower-risk option at 3.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GYLD or CLSM?

Over the 3-year period, GYLD has performed better with a 15.50% return vs 13.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GYLD or CLSM?

GYLD is cheaper with a 0.75% expense ratio, compared with 0.82% for CLSM.

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

GYLD has the higher dividend yield at 7.37%, compared with 0.75% for CLSM.

What is the main difference between GYLD and CLSM?

GYLD is categorized as Diversified Portfolio, while CLSM is Tactical Allocation. GYLD tracks DJ Brookfield Global Infrastructure Composite Yield, while CLSM tracks Actively Managed. They also come from different issuers: Arrow Funds and Cabana. Their fees differ too: 0.75% for GYLD and 0.82% for CLSM.

Which has better risk-adjusted returns?

CLSM currently has the higher Sharpe Ratio (2.71 vs 1.26), 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.