NELIX vs. CLSE
Compare and contrast key facts about Nuveen Equity Long/Short Fund (NELIX) and Convergence Long/Short Equity ETF (CLSE).
NELIX is managed by Nuveen. It was launched on Dec 29, 2008. CLSE is an actively managed fund by Convergence Investment Partners. It was launched on Feb 22, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: NELIX or CLSE.
Correlation
The correlation between NELIX and CLSE is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
NELIX vs. CLSE - Performance Comparison
Key characteristics
NELIX:
1.23
CLSE:
1.48
NELIX:
1.64
CLSE:
1.98
NELIX:
1.23
CLSE:
1.27
NELIX:
1.61
CLSE:
2.86
NELIX:
4.97
CLSE:
9.61
NELIX:
2.71%
CLSE:
2.21%
NELIX:
10.95%
CLSE:
14.31%
NELIX:
-29.65%
CLSE:
-14.28%
NELIX:
-4.92%
CLSE:
-5.86%
Returns By Period
In the year-to-date period, NELIX achieves a 1.58% return, which is significantly higher than CLSE's -1.05% return.
NELIX
1.58%
-1.71%
4.54%
11.88%
9.01%
6.52%
CLSE
-1.05%
-5.78%
5.66%
18.96%
N/A
N/A
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NELIX vs. CLSE - Expense Ratio Comparison
NELIX has a 1.35% expense ratio, which is lower than CLSE's 1.56% expense ratio.
Risk-Adjusted Performance
NELIX vs. CLSE — Risk-Adjusted Performance Rank
NELIX
CLSE
NELIX vs. CLSE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Equity Long/Short Fund (NELIX) and Convergence Long/Short Equity ETF (CLSE). 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.
Dividends
NELIX vs. CLSE - Dividend Comparison
NELIX's dividend yield for the trailing twelve months is around 0.88%, less than CLSE's 0.94% yield.
| TTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
NELIX Nuveen Equity Long/Short Fund | 0.88% | 0.89% | 4.20% | 0.00% |
CLSE Convergence Long/Short Equity ETF | 0.94% | 0.93% | 1.21% | 0.85% |
Drawdowns
NELIX vs. CLSE - Drawdown Comparison
The maximum NELIX drawdown since its inception was -29.65%, which is greater than CLSE's maximum drawdown of -14.28%. Use the drawdown chart below to compare losses from any high point for NELIX and CLSE. For additional features, visit the drawdowns tool.
Volatility
NELIX vs. CLSE - Volatility Comparison
The current volatility for Nuveen Equity Long/Short Fund (NELIX) is 3.52%, while Convergence Long/Short Equity ETF (CLSE) has a volatility of 5.93%. This indicates that NELIX experiences smaller price fluctuations and is considered to be less risky than CLSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.