PHDG vs. CLSE
Compare and contrast key facts about Invesco S&P 500® Downside Hedged ETF (PHDG) and Convergence Long/Short Equity ETF (CLSE).
PHDG and CLSE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PHDG is an actively managed fund by Invesco. It was launched on Dec 6, 2012. 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: PHDG or CLSE.
Correlation
The correlation between PHDG and CLSE is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PHDG vs. CLSE - Performance Comparison
Key characteristics
PHDG:
1.20
CLSE:
2.62
PHDG:
1.82
CLSE:
3.58
PHDG:
1.23
CLSE:
1.46
PHDG:
1.32
CLSE:
4.69
PHDG:
5.65
CLSE:
18.17
PHDG:
2.29%
CLSE:
1.91%
PHDG:
10.76%
CLSE:
13.26%
PHDG:
-17.70%
CLSE:
-14.28%
PHDG:
-3.24%
CLSE:
-3.91%
Returns By Period
In the year-to-date period, PHDG achieves a 12.56% return, which is significantly lower than CLSE's 35.84% return.
PHDG
12.56%
-0.08%
1.82%
13.86%
7.64%
4.76%
CLSE
35.84%
-2.17%
7.35%
35.24%
N/A
N/A
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PHDG vs. CLSE - Expense Ratio Comparison
PHDG has a 0.40% expense ratio, which is lower than CLSE's 1.56% expense ratio.
Risk-Adjusted Performance
PHDG vs. CLSE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® Downside Hedged ETF (PHDG) 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
PHDG vs. CLSE - Dividend Comparison
PHDG's dividend yield for the trailing twelve months is around 1.46%, more than CLSE's 0.92% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHDG Invesco S&P 500® Downside Hedged ETF | 1.46% | 1.93% | 1.35% | 0.44% | 0.63% | 1.80% | 1.56% | 1.83% | 2.29% | 1.65% | 5.45% | 1.76% |
CLSE Convergence Long/Short Equity ETF | 0.92% | 1.21% | 0.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PHDG vs. CLSE - Drawdown Comparison
The maximum PHDG drawdown since its inception was -17.70%, which is greater than CLSE's maximum drawdown of -14.28%. Use the drawdown chart below to compare losses from any high point for PHDG and CLSE. For additional features, visit the drawdowns tool.
Volatility
PHDG vs. CLSE - Volatility Comparison
The current volatility for Invesco S&P 500® Downside Hedged ETF (PHDG) is 3.69%, while Convergence Long/Short Equity ETF (CLSE) has a volatility of 5.40%. This indicates that PHDG 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.