NLSI vs. CLIX

Last updated Aug 2, 2026

NLSI (Neos Long/Short Equity Income ETF) and CLIX (ProShares Long Online/Short Stores ETF) are both exchange-traded funds - NLSI is a Derivative Income fund actively managed by Neos, while CLIX is a Long-Short fund tracking the ProShares Long Online/Short Stores Index. NLSI is actively managed, while CLIX is passively managed. Their 0.29 correlation means their historical movements had little consistent relationship. NLSI charges 2.89%/yr vs 0.65%/yr for CLIX.

Performance

NLSI vs. CLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neos Long/Short Equity Income ETF (NLSI) 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, NLSI achieves a 6.98% return, which is significantly higher than CLIX's -0.57% return.

NLSI

• 1D: -1.45%
• 1M: 2.81%
• 6M: 11.99%
• YTD: 6.98%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

CLIX

• 1D: 4.48%
• 1M: 6.07%
• 6M: 1.59%
• YTD: -0.57%
• 1Y: 12.03%
• 3Y*: 16.69%
• 5Y*: -4.13%
• 10Y*: —
• ALL TIME*: 4.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CLIX ProShares Long Online/Short Stores ETF	$28.27K	$42.87K	$29.25K
NLSI Neos Long/Short Equity Income ETF	$100.50K	$117.78K	$105.68K

NLSI vs. CLIX - Yearly Performance Comparison

	2026 (YTD)	2025
NLSI Neos Long/Short Equity Income ETF	6.98%	2.51%
CLIX ProShares Long Online/Short Stores ETF	-0.57%	-0.91%

Correlation

The correlation between NLSI and CLIX is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.29

Return for Risk

NLSI vs. CLIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NLSI

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

CLIX

CLIX Risk / Return Rank: 18
CLIX Sharpe Ratio Rank: 19
CLIX Sortino Ratio Rank: 19
CLIX Omega Ratio Rank: 18
CLIX Calmar Ratio Rank: 18
CLIX Martin Ratio Rank: 18

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NLSI vs. CLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neos Long/Short Equity Income ETF (NLSI) 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.

	NLSI	CLIX	Difference
Sharpe ratio: Return per unit of total volatility	—	0.35	—
Sortino ratio: Return per unit of downside risk	—	0.63	—
Omega ratio: Gain probability vs. loss probability	—	1.07	—
Calmar ratio: Return relative to maximum drawdown	—	0.40	—
Martin ratio: Return relative to average drawdown	—	0.95	—

Drawdowns

NLSI vs. CLIX - Drawdown Comparison

The maximum NLSI drawdown since its inception was -13.82%, smaller than the maximum CLIX drawdown of -73.21%. Use the drawdown chart below to compare losses from any high point for NLSI and CLIX.

Drawdown Indicators

	NLSI	CLIX	Difference
Max Drawdown Largest peak-to-trough decline	-13.82%	-73.21%	+59.39%
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	—	-63.54%	—
Current Drawdown Current decline from peak	-1.45%	-41.26%	+39.81%
Average Drawdown Average peak-to-trough decline	-5.51%	-34.86%	+29.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.15%	—

Volatility

Volatility by Period

	NLSI	CLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.82%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.43%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.04%	22.42%	-3.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.04%	26.87%	-7.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.04%	25.89%	-6.85%

NLSI vs. CLIX - Expense Ratio Comparison

NLSI has a 2.89% expense ratio, which is higher than CLIX's 0.65% expense ratio.

Dividends

NLSI vs. CLIX - Dividend Comparison

NLSI's dividend yield for the trailing twelve months is around 3.31%, more than CLIX's 0.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CLIX ProShares Long Online/Short Stores ETF	0.53%	0.46%	0.46%	0.00%	0.00%	0.00%	1.33%
NLSI Neos Long/Short Equity Income ETF	3.31%	0.46%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NLSI and CLIX in my portfolio?

NLSI and CLIX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NLSI or CLIX?

On fees, CLIX is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NLSI or CLIX?

CLIX is cheaper with a 0.65% expense ratio, compared with 2.89% for NLSI.

Which ETF pays a higher dividend yield, NLSI or CLIX?

NLSI has the higher dividend yield at 3.31%, compared with 0.53% for CLIX.

What is the main difference between NLSI and CLIX?

NLSI is categorized as Derivative Income, while CLIX is Long-Short. They also come from different issuers: Neos and ProShares. Their fees differ too: 2.89% for NLSI and 0.65% for CLIX.