HTUS vs. CSM

Last updated Jun 4, 2026

HTUS (Hull Tactical US ETF) and CSM (Proshares Large Cap Core Plus) are both Long-Short funds. HTUS is actively managed, while CSM is passively managed. Over the past 10 years, HTUS returned 12.52%/yr vs 14.36%/yr for CSM. A 0.73 correlation means they provide meaningful diversification when combined. HTUS charges 0.97%/yr vs 0.45%/yr for CSM.

Performance

HTUS vs. CSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hull Tactical US ETF (HTUS) and Proshares Large Cap Core Plus (CSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HTUS achieves a 11.33% return, which is significantly higher than CSM's 8.62% return. Over the past 10 years, HTUS has underperformed CSM with an annualized return of 12.52%, while CSM has yielded a comparatively higher 14.36% annualized return.

HTUS

• 1D: -0.55%
• 1M: 5.04%
• YTD: 11.33%
• 6M: 12.04%
• 1Y: 28.96%
• 3Y*: 22.15%
• 5Y*: 15.35%
• 10Y*: 12.52%

CSM

• 1D: -0.84%
• 1M: 4.86%
• YTD: 8.62%
• 6M: 9.99%
• 1Y: 28.48%
• 3Y*: 22.04%
• 5Y*: 13.38%
• 10Y*: 14.36%

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

HTUS vs. CSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HTUS Hull Tactical US ETF	11.33%	16.57%	25.02%	30.11%	-13.00%	24.29%	13.21%	20.27%	-10.04%	14.19%
CSM Proshares Large Cap Core Plus	8.62%	21.84%	22.09%	23.50%	-18.27%	33.13%	10.94%	29.26%	-7.88%	22.52%

Correlation

The correlation between HTUS and CSM is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jun 26, 2015	0.73

The correlation between HTUS and CSM shifts across timeframes, from 0.73 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.

HTUS vs. CSM - Sectors Allocation Comparison

Sectors	HTUS	CSM
Technology	35.6%	28.7%
Financial Services	11.8%	16.3%
Communication Services	11.2%	7.7%
Consumer Cyclical	10.1%	8.7%
Healthcare	8.5%	8.5%
Industrials	8.3%	9.0%
Consumer Defensive	4.9%	4.9%
Energy	3.5%	3.1%
Utilities	2.4%	3.8%
Real Estate	1.9%	3.1%
Basic Materials	1.8%	1.9%

Return for Risk

HTUS vs. CSM — Risk / Return Rank

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

HTUS

HTUS Risk / Return Rank: 78
HTUS Sharpe Ratio Rank: 77
HTUS Sortino Ratio Rank: 82
HTUS Omega Ratio Rank: 81
HTUS Calmar Ratio Rank: 67
HTUS Martin Ratio Rank: 84

CSM

CSM Risk / Return Rank: 69
CSM Sharpe Ratio Rank: 72
CSM Sortino Ratio Rank: 72
CSM Omega Ratio Rank: 69
CSM Calmar Ratio Rank: 61
CSM Martin Ratio Rank: 71

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.

HTUS vs. CSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hull Tactical US ETF (HTUS) and Proshares Large Cap Core Plus (CSM). 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.

	HTUS	CSM	Difference
Sharpe ratio Return per unit of total volatility	2.53	2.40	+0.13
Sortino ratio Return per unit of downside risk	3.71	3.30	+0.41
Omega ratio Gain probability vs. loss probability	1.50	1.42	+0.08
Calmar ratio Return relative to maximum drawdown	3.35	3.04	+0.31
Martin ratio Return relative to average drawdown	17.27	13.25	+4.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HTUS vs. CSM - Sharpe Ratio Comparison

The current HTUS Sharpe Ratio is 2.53, which is comparable to the CSM Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of HTUS and CSM, 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

	HTUS	CSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.40	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.79	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.78	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.86	-0.28

Drawdowns

HTUS vs. CSM - Drawdown Comparison

The maximum HTUS drawdown since its inception was -47.50%, which is greater than CSM's maximum drawdown of -36.11%. Use the drawdown chart below to compare losses from any high point for HTUS and CSM.

Drawdown Indicators

	HTUS	CSM	Difference
Max Drawdown Largest peak-to-trough decline	-47.50%	-36.11%	-11.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.68%	-9.40%	+0.72%
Max Drawdown (3Y) Largest decline over 3 years	-24.41%	-18.30%	-6.11%
Max Drawdown (5Y) Largest decline over 5 years	-24.41%	-23.82%	-0.59%
Max Drawdown (10Y) Largest decline over 10 years	-47.50%	-36.11%	-11.39%
Current Drawdown Current decline from peak	-0.55%	-1.18%	+0.63%
Average Drawdown Average peak-to-trough decline	-4.06%	-4.04%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	2.15%	-0.47%

Volatility

HTUS vs. CSM - Volatility Comparison

The current volatility for Hull Tactical US ETF (HTUS) is 2.47%, while Proshares Large Cap Core Plus (CSM) has a volatility of 2.85%. This indicates that HTUS experiences smaller price fluctuations and is considered to be less risky than CSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HTUS	CSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.47%	2.85%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	9.39%	8.81%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	11.50%	11.95%	-0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.03%	17.11%	+1.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.45%	18.38%	+3.07%

HTUS vs. CSM - Expense Ratio Comparison

HTUS has a 0.97% expense ratio, which is higher than CSM's 0.45% expense ratio.

Dividends

HTUS vs. CSM - Dividend Comparison

HTUS's dividend yield for the trailing twelve months is around 10.68%, more than CSM's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSM Proshares Large Cap Core Plus	1.01%	1.04%	1.06%	1.17%	1.37%	0.78%	1.21%	1.41%	1.54%	1.28%	1.49%	1.67%
HTUS Hull Tactical US ETF	10.68%	11.89%	17.80%	1.18%	5.63%	7.20%	3.77%	0.92%	8.69%	8.29%	3.02%	0.00%

Frequently Asked Questions

Can I hold both HTUS and CSM in my portfolio?

With a correlation of 0.92, HTUS and CSM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, HTUS or CSM?

CSM has higher volatility (2.85%) compared to HTUS (2.47%). In terms of maximum drawdown, HTUS dropped -47.50% vs CSM's -36.11%.

Which ETF is better, HTUS or CSM?

On 10-year performance, CSM leads with 14.36% vs 12.52% for HTUS. On fees, CSM is cheaper at 0.45% per year. On volatility, HTUS has been the lower-risk option at 2.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HTUS or CSM?

Over the 10-year period, CSM has performed better with a 14.36% return vs 12.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HTUS or CSM?

CSM is cheaper with a 0.45% expense ratio, compared with 0.97% for HTUS.

Which ETF pays a higher dividend yield, HTUS or CSM?

HTUS has the higher dividend yield at 10.68%, compared with 1.01% for CSM.

What is the main difference between HTUS and CSM?

They also come from different issuers: Exchange Traded Concepts and ProShares. Their fees differ too: 0.97% for HTUS and 0.45% for CSM.

Which has better risk-adjusted returns?

HTUS currently has the higher Sharpe Ratio (2.53 vs 2.40), 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.