RSEE vs. CBLS

Last updated Aug 2, 2026

RSEE (Rareview Systematic Equity ETF) and CBLS (Clough Hedged Equity ETF) are both Long-Short funds. Both are actively managed. Over the past 3 years, RSEE returned 14.53%/yr vs 16.15%/yr for CBLS. Their 0.59 correlation means they have sometimes moved together and sometimes differently. RSEE charges 1.27%/yr vs 1.95%/yr for CBLS.

Performance

RSEE vs. CBLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rareview Systematic Equity ETF (RSEE) and Clough Hedged Equity ETF (CBLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSEE achieves a 10.69% return, which is significantly higher than CBLS's 9.99% return.

RSEE

• 1D: 0.29%
• 1M: -2.61%
• 6M: 6.73%
• YTD: 10.69%
• 1Y: 25.89%
• 3Y*: 14.53%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.44%

CBLS

• 1D: 0.39%
• 1M: -8.11%
• 6M: 0.45%
• YTD: 9.99%
• 1Y: 6.27%
• 3Y*: 16.15%
• 5Y*: 3.87%
• 10Y*: —
• ALL TIME*: 7.64%

*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)
CBLS Clough Hedged Equity ETF	$136.56K	$124.70K	$136.61K
RSEE Rareview Systematic Equity ETF	$298.76K	$233.55K	$305.55K

RSEE vs. CBLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
RSEE Rareview Systematic Equity ETF	10.69%	20.54%	18.54%	10.21%	-2.49%
CBLS Clough Hedged Equity ETF	9.99%	5.87%	28.74%	-2.67%	-9.24%

Correlation

The correlation between RSEE and CBLS is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.63
Correlation (All Time) Calculated using the full available price history since Jan 21, 2022	0.59

The correlation between RSEE and CBLS has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.

Return for Risk

RSEE vs. CBLS — Risk / Return Rank

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

RSEE

RSEE Risk / Return Rank: 52
RSEE Sharpe Ratio Rank: 51
RSEE Sortino Ratio Rank: 49
RSEE Omega Ratio Rank: 48
RSEE Calmar Ratio Rank: 52
RSEE Martin Ratio Rank: 58

CBLS

CBLS Risk / Return Rank: 17
CBLS Sharpe Ratio Rank: 17
CBLS Sortino Ratio Rank: 16
CBLS Omega Ratio Rank: 17
CBLS Calmar Ratio Rank: 17
CBLS Martin Ratio Rank: 20

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.

RSEE vs. CBLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rareview Systematic Equity ETF (RSEE) and Clough Hedged Equity ETF (CBLS). 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.

	RSEE	CBLS	Difference
Sharpe ratio: Return per unit of total volatility	1.24	0.29	+0.95
Sortino ratio: Return per unit of downside risk	1.76	0.49	+1.26
Omega ratio: Gain probability vs. loss probability	1.22	1.06	+0.16
Calmar ratio: Return relative to maximum drawdown	1.87	0.38	+1.48
Martin ratio: Return relative to average drawdown	7.00	1.22	+5.78

RSEE vs. CBLS - Sharpe Ratio Comparison

The current RSEE Sharpe Ratio is 1.24, which is higher than the CBLS Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of RSEE and CBLS, 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

RSEE vs. CBLS - Drawdown Comparison

The maximum RSEE drawdown since its inception was -21.60%, smaller than the maximum CBLS drawdown of -32.78%. Use the drawdown chart below to compare losses from any high point for RSEE and CBLS.

Drawdown Indicators

	RSEE	CBLS	Difference
Max Drawdown Largest peak-to-trough decline	-21.60%	-32.78%	+11.18%
Max Drawdown (1Y) Largest decline over 1 year	-12.89%	-13.02%	+0.13%
Max Drawdown (3Y) Largest decline over 3 years	-21.60%	-15.27%	-6.33%
Max Drawdown (5Y) Largest decline over 5 years	—	-31.24%	—
Current Drawdown Current decline from peak	-5.44%	-11.78%	+6.34%
Average Drawdown Average peak-to-trough decline	-3.77%	-12.57%	+8.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	4.10%	-0.67%

Volatility

RSEE vs. CBLS - Volatility Comparison

Rareview Systematic Equity ETF (RSEE) has a higher volatility of 5.69% compared to Clough Hedged Equity ETF (CBLS) at 5.32%. This indicates that RSEE's price experiences larger fluctuations and is considered to be riskier than CBLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSEE	CBLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.69%	5.32%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	16.14%	14.78%	+1.36%
Volatility (1Y) Calculated over the trailing 1-year period	19.41%	17.45%	+1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.20%	15.92%	+3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.20%	16.34%	+2.86%

RSEE vs. CBLS - Expense Ratio Comparison

RSEE has a 1.27% expense ratio, which is lower than CBLS's 1.95% expense ratio.

Dividends

RSEE vs. CBLS - Dividend Comparison

RSEE has not paid dividends to shareholders, while CBLS's dividend yield for the trailing twelve months is around 0.82%.

Position	TTM	2025	2024	2023	2022
CBLS Clough Hedged Equity ETF	0.82%	0.90%	0.73%	0.44%	0.00%
RSEE Rareview Systematic Equity ETF	0.00%	0.24%	9.02%	0.84%	1.97%

Frequently Asked Questions

Can I hold both RSEE and CBLS in my portfolio?

RSEE and CBLS have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSEE or CBLS?

RSEE has higher volatility (5.69%) compared to CBLS (5.32%). In terms of maximum drawdown, RSEE dropped -21.60% vs CBLS's -32.78%.

Which ETF is better, RSEE or CBLS?

On 3-year performance, CBLS leads with 16.15% vs 14.53% for RSEE. On fees, RSEE is cheaper at 1.27% per year. On volatility, CBLS has been the lower-risk option at 5.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSEE or CBLS?

Over the 3-year period, CBLS has performed better with a 16.15% return vs 14.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSEE or CBLS?

RSEE is cheaper with a 1.27% expense ratio, compared with 1.95% for CBLS.

Which ETF pays a higher dividend yield, RSEE or CBLS?

CBLS has the higher dividend yield at 0.82%, compared with 0.00% for RSEE.

What is the main difference between RSEE and CBLS?

They also come from different issuers: Rareview and Clough. Their fees differ too: 1.27% for RSEE and 1.95% for CBLS.

Which has better risk-adjusted returns?

RSEE currently has the higher Sharpe Ratio (1.24 vs 0.29), 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.