MKTN vs. CLIX

Last updated Jun 25, 2026

MKTN (Federated Hermes MDT Market Neutral ETF) and CLIX (ProShares Long Online/Short Stores ETF) are both Long-Short funds. MKTN is actively managed, while CLIX is passively managed. At a correlation of -0.02, they often move in opposite directions.

Performance

MKTN vs. CLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Market Neutral ETF (MKTN) and ProShares Long Online/Short Stores ETF (CLIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MKTN achieves a 0.57% return, which is significantly higher than CLIX's -8.42% return.

MKTN

• 1D: 0.43%
• 1M: 0.32%
• YTD: 0.57%
• 6M: 0.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLIX

• 1D: 0.17%
• 1M: -5.35%
• YTD: -8.42%
• 6M: -8.25%
• 1Y: 7.98%
• 3Y*: 17.69%
• 5Y*: -7.81%
• 10Y*: —

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

MKTN vs. CLIX - Yearly Performance Comparison

	2026 (YTD)	2025
MKTN Federated Hermes MDT Market Neutral ETF	0.57%	3.22%
CLIX ProShares Long Online/Short Stores ETF	-8.42%	1.02%

Correlation

The correlation between MKTN and CLIX 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 Sep 25, 2025	-0.02

Return for Risk

MKTN vs. CLIX — Risk / Return Rank

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

MKTN

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

CLIX

CLIX Risk / Return Rank: 14
CLIX Sharpe Ratio Rank: 15
CLIX Sortino Ratio Rank: 14
CLIX Omega Ratio Rank: 14
CLIX Calmar Ratio Rank: 14
CLIX Martin Ratio Rank: 14

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.

MKTN vs. CLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) and ProShares Long Online/Short Stores ETF (CLIX). 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.

	MKTN	CLIX	Difference
Sharpe ratio: Return per unit of total volatility	—	0.37	—
Sortino ratio: Return per unit of downside risk	—	0.65	—
Omega ratio: Gain probability vs. loss probability	—	1.08	—
Calmar ratio: Return relative to maximum drawdown	—	0.41	—
Martin ratio: Return relative to average drawdown	—	1.05	—

Drawdowns

MKTN vs. CLIX - Drawdown Comparison

The maximum MKTN drawdown since its inception was -4.13%, smaller than the maximum CLIX drawdown of -73.21%. Use the drawdown chart below to compare losses from any high point for MKTN and CLIX.

Drawdown Indicators

	MKTN	CLIX	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	-73.21%	+69.08%
Max Drawdown (1Y) Largest decline over 1 year	—	-19.57%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-68.22%	—
Current Drawdown Current decline from peak	-1.34%	-45.90%	+44.56%
Average Drawdown Average peak-to-trough decline	-1.20%	-34.76%	+33.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.65%	—

Volatility

Volatility by Period

	MKTN	CLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.66%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.74%	21.45%	-14.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.74%	27.04%	-20.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.74%	25.91%	-19.17%

Dividends

MKTN vs. CLIX - Dividend Comparison

MKTN's dividend yield for the trailing twelve months is around 0.51%, less than CLIX's 0.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CLIX ProShares Long Online/Short Stores ETF	0.58%	0.46%	0.46%	0.00%	0.00%	0.00%	1.33%
MKTN Federated Hermes MDT Market Neutral ETF	0.51%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MKTN and CLIX in my portfolio?

MKTN and CLIX 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 pays a higher dividend yield, MKTN or CLIX?

CLIX has the higher dividend yield at 0.58%, compared with 0.51% for MKTN.

What is the main difference between MKTN and CLIX?

They also come from different issuers: Federated Hermes and ProShares.