KAT vs. CLIP

Last updated Jul 17, 2026

KAT (Scharf ETF) and CLIP (Global X 1-3 Month T-Bill ETF) are both exchange-traded funds - KAT is a Large Cap Blend Equities fund actively managed by Scharf Investments, while CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD. KAT is actively managed, while CLIP is passively managed. At a 0.02 correlation, their price movements are largely independent. KAT charges 0.75%/yr vs 0.07%/yr for CLIP.

Performance

KAT vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Scharf ETF (KAT) and Global X 1-3 Month T-Bill ETF (CLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with KAT having a 1.97% return and CLIP slightly lower at 1.94%.

KAT

• 1D: 0.56%
• 1M: 1.44%
• 6M: -0.06%
• YTD: 1.97%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLIP

• 1D: 0.02%
• 1M: 0.30%
• 6M: 1.82%
• YTD: 1.94%
• 1Y: 3.90%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

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

KAT vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025
KAT Scharf ETF	1.97%	0.85%
CLIP Global X 1-3 Month T-Bill ETF	1.94%	1.46%

Correlation

The correlation between KAT and CLIP is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 25, 2025	0.02

Return for Risk

KAT vs. CLIP — Risk / Return Rank

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

KAT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

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.

KAT vs. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Scharf ETF (KAT) and Global X 1-3 Month T-Bill ETF (CLIP). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	KAT	CLIP	Difference
Sharpe ratio: Return per unit of total volatility	—	17.89	—
Sortino ratio: Return per unit of downside risk	—	95.22	—
Omega ratio: Gain probability vs. loss probability	—	29.37	—
Calmar ratio: Return relative to maximum drawdown	—	196.07	—
Martin ratio: Return relative to average drawdown	—	1,495.40	—

Drawdowns

KAT vs. CLIP - Drawdown Comparison

The maximum KAT drawdown since its inception was -9.25%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for KAT and CLIP.

Drawdown Indicators

	KAT	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	-9.25%	-0.08%	-9.17%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.08%	—
Current Drawdown Current decline from peak	-3.46%	0.00%	-3.46%
Average Drawdown Average peak-to-trough decline	-3.46%	-0.00%	-3.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	KAT	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.15%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.55%	0.22%	+10.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.55%	0.44%	+10.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.55%	0.44%	+10.11%

KAT vs. CLIP - Expense Ratio Comparison

KAT has a 0.75% expense ratio, which is higher than CLIP's 0.07% expense ratio.

Dividends

KAT vs. CLIP - Dividend Comparison

KAT's dividend yield for the trailing twelve months is around 0.08%, less than CLIP's 3.85% yield.

Position	TTM	2025	2024	2023
CLIP Global X 1-3 Month T-Bill ETF	3.85%	4.14%	5.11%	2.75%
KAT Scharf ETF	0.08%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KAT and CLIP in my portfolio?

KAT and CLIP have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KAT or CLIP?

On fees, CLIP is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KAT or CLIP?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.75% for KAT.

Which ETF pays a higher dividend yield, KAT or CLIP?

CLIP has the higher dividend yield at 3.85%, compared with 0.08% for KAT.

What is the main difference between KAT and CLIP?

KAT is categorized as Large Cap Blend Equities, while CLIP is Ultrashort Bond. They also come from different issuers: Scharf Investments and Global X. Their fees differ too: 0.75% for KAT and 0.07% for CLIP.