MNDO vs. CWB

Last updated Jul 17, 2026

MNDO (MIND C.T.I. Ltd) is a stock, while CWB (SPDR Bloomberg Barclays Convertible Securities ETF) is Preferred Stock/Convertible Bonds fund tracking the Bloomberg US Convertibles Liquid Bond. Over the past 10 years, MNDO returned 2.77%/yr vs 11.69%/yr for CWB. At a 0.16 correlation, their price movements are largely independent.

Performance

MNDO vs. CWB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MIND C.T.I. Ltd (MNDO) and SPDR Bloomberg Barclays Convertible Securities ETF (CWB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MNDO achieves a -10.43% return, which is significantly lower than CWB's 14.65% return. Over the past 10 years, MNDO has underperformed CWB with an annualized return of 2.77%, while CWB has yielded a comparatively higher 11.69% annualized return.

MNDO

• 1D: -0.96%
• 1M: 9.42%
• 6M: -15.92%
• YTD: -10.43%
• 1Y: -27.46%
• 3Y*: -12.96%
• 5Y*: -14.82%
• 10Y*: 2.77%

CWB

• 1D: -1.98%
• 1M: -7.17%
• 6M: 9.23%
• YTD: 14.65%
• 1Y: 21.91%
• 3Y*: 14.53%
• 5Y*: 5.91%
• 10Y*: 11.69%

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

MNDO vs. CWB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MNDO MIND C.T.I. Ltd	-10.43%	-34.77%	12.86%	4.21%	-26.48%	30.73%	21.80%	18.54%	-7.49%	26.62%
CWB SPDR Bloomberg Barclays Convertible Securities ETF	14.65%	16.61%	10.06%	14.49%	-20.81%	2.18%	53.39%	22.39%	-2.00%	15.69%

Correlation

The correlation between MNDO and CWB is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Apr 16, 2009	0.16

Return for Risk

MNDO vs. CWB — Risk / Return Rank

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

MNDO

MNDO Risk / Return Rank: 16
MNDO Sharpe Ratio Rank: 13
MNDO Sortino Ratio Rank: 14
MNDO Omega Ratio Rank: 14
MNDO Calmar Ratio Rank: 18
MNDO Martin Ratio Rank: 18

CWB

CWB Risk / Return Rank: 53
CWB Sharpe Ratio Rank: 48
CWB Sortino Ratio Rank: 45
CWB Omega Ratio Rank: 46
CWB Calmar Ratio Rank: 66
CWB Martin Ratio Rank: 61

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.

MNDO vs. CWB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MIND C.T.I. Ltd (MNDO) and SPDR Bloomberg Barclays Convertible Securities ETF (CWB). 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.

	MNDO	CWB	Difference
Sharpe ratio: Return per unit of total volatility	-0.71	1.38	-2.09
Sortino ratio: Return per unit of downside risk	-0.88	1.89	-2.77
Omega ratio: Gain probability vs. loss probability	0.89	1.24	-0.36
Calmar ratio: Return relative to maximum drawdown	-0.68	2.67	-3.35
Martin ratio: Return relative to average drawdown	-1.13	8.53	-9.66

MNDO vs. CWB - Sharpe Ratio Comparison

The current MNDO Sharpe Ratio is -0.71, which is lower than the CWB Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of MNDO and CWB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MNDO vs. CWB - Drawdown Comparison

The maximum MNDO drawdown since its inception was -94.28%, which is greater than CWB's maximum drawdown of -32.06%. Use the drawdown chart below to compare losses from any high point for MNDO and CWB.

Drawdown Indicators

	MNDO	CWB	Difference
Max Drawdown Largest peak-to-trough decline	-94.28%	-32.06%	-62.22%
Max Drawdown (1Y) Largest decline over 1 year	-40.53%	-8.23%	-32.30%
Max Drawdown (3Y) Largest decline over 3 years	-54.63%	-11.92%	-42.71%
Max Drawdown (5Y) Largest decline over 5 years	-61.68%	-28.41%	-33.27%
Max Drawdown (10Y) Largest decline over 10 years	-64.04%	-32.06%	-31.98%
Current Drawdown Current decline from peak	-57.92%	-8.23%	-49.69%
Average Drawdown Average peak-to-trough decline	-46.76%	-6.15%	-40.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.42%	2.57%	+21.85%

Volatility

MNDO vs. CWB - Volatility Comparison

MIND C.T.I. Ltd (MNDO) has a higher volatility of 13.77% compared to SPDR Bloomberg Barclays Convertible Securities ETF (CWB) at 5.15%. This indicates that MNDO's price experiences larger fluctuations and is considered to be riskier than CWB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNDO	CWB	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.77%	5.15%	+8.62%
Volatility (6M) Calculated over the trailing 6-month period	28.09%	13.31%	+14.78%
Volatility (1Y) Calculated over the trailing 1-year period	38.79%	15.98%	+22.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.43%	13.35%	+15.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.99%	14.62%	+12.37%

Dividends

MNDO vs. CWB - Dividend Comparison

MNDO has not paid dividends to shareholders, while CWB's dividend yield for the trailing twelve months is around 1.46%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CWB SPDR Bloomberg Barclays Convertible Securities ETF	1.46%	1.69%	1.85%	1.97%	2.21%	1.97%	2.34%	3.03%	6.17%	4.25%	4.60%	7.52%
MNDO MIND C.T.I. Ltd	0.00%	19.13%	12.15%	12.24%	12.38%	8.37%	9.27%	10.79%	13.16%	11.55%	10.98%	11.86%

Frequently Asked Questions

Can I hold both MNDO and CWB in my portfolio?

MNDO and CWB have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MNDO or CWB?

MNDO has higher volatility (13.77%) compared to CWB (5.15%). In terms of maximum drawdown, MNDO dropped -94.28% vs CWB's -32.06%.

Which has better risk-adjusted returns?

CWB currently has the higher Sharpe Ratio (1.38 vs -0.71), 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.