SIXL vs. CEFS
SIXL (ETC 6 Meridian Low Beta Equity Strategy ETF) and CEFS (Saba Closed-End Funds ETF) are both exchange-traded funds - SIXL is a Mid Cap Blend Equities fund actively managed by Exchange Traded Concepts, while CEFS is a Event Driven fund actively managed by Exchange Traded Concepts. Both are actively managed. Over the past 5 years, SIXL returned 4.12%/yr vs 14.29%/yr for CEFS. At a 0.42 correlation, their price movements are largely independent. SIXL charges 0.47%/yr vs 2.61%/yr for CEFS.
Performance
SIXL vs. CEFS - Performance Comparison
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Returns By Period
In the year-to-date period, SIXL achieves a 7.20% return, which is significantly lower than CEFS's 15.16% return.
SIXL
- 1D
- 1.57%
- 1M
- 0.42%
- YTD
- 7.20%
- 6M
- 5.06%
- 1Y
- 7.44%
- 3Y*
- 9.35%
- 5Y*
- 4.12%
- 10Y*
- —
CEFS
- 1D
- -0.23%
- 1M
- 4.16%
- YTD
- 15.16%
- 6M
- 16.21%
- 1Y
- 26.43%
- 3Y*
- 22.09%
- 5Y*
- 14.29%
- 10Y*
- —
SIXL vs. CEFS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SIXL ETC 6 Meridian Low Beta Equity Strategy ETF | 7.20% | -0.61% | 14.13% | 2.38% | -7.49% | 20.00% | 18.86% |
CEFS Saba Closed-End Funds ETF | 15.16% | 16.67% | 23.48% | 20.99% | -7.08% | 17.86% | 26.76% |
Correlation
The correlation between SIXL and CEFS is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since May 11, 2020 | 0.42 |
Over the past year, the correlation between SIXL and CEFS has dropped to 0.09 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
SIXL vs. CEFS — Risk / Return Rank
SIXL
CEFS
SIXL vs. CEFS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC 6 Meridian Low Beta Equity Strategy ETF (SIXL) and Saba Closed-End Funds ETF (CEFS). 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.
| SIXL | CEFS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -2.59 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.49 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 4.68 | -3.54 |
| Martin ratioReturn relative to average drawdown | 3.05 | 17.98 | -14.93 |
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Drawdowns
SIXL vs. CEFS - Drawdown Comparison
The maximum SIXL drawdown since its inception was -16.08%, smaller than the maximum CEFS drawdown of -38.99%. Use the drawdown chart below to compare losses from any high point for SIXL and CEFS.
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Drawdown Indicators
| SIXL | CEFS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.08% | -38.99% | +22.91% |
Max Drawdown (1Y)Largest decline over 1 year | -6.52% | -5.67% | -0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -11.65% | -13.37% | +1.72% |
Max Drawdown (5Y)Largest decline over 5 years | -16.08% | -16.85% | +0.77% |
Current DrawdownCurrent decline from peak | -2.60% | -0.23% | -2.37% |
Average DrawdownAverage peak-to-trough decline | -4.55% | -3.65% | -0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 1.47% | +0.97% |
Volatility
SIXL vs. CEFS - Volatility Comparison
The current volatility for ETC 6 Meridian Low Beta Equity Strategy ETF (SIXL) is 3.79%, while Saba Closed-End Funds ETF (CEFS) has a volatility of 4.04%. This indicates that SIXL experiences smaller price fluctuations and is considered to be less risky than CEFS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SIXL | CEFS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 4.04% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 7.21% | 9.01% | -1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.98% | 10.34% | -0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.20% | 13.16% | -0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.57% | 15.33% | -2.76% |
SIXL vs. CEFS - Expense Ratio Comparison
SIXL has a 0.47% expense ratio, which is lower than CEFS's 2.61% expense ratio.
Dividends
SIXL vs. CEFS - Dividend Comparison
SIXL's dividend yield for the trailing twelve months is around 2.22%, less than CEFS's 7.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CEFS Saba Closed-End Funds ETF | 7.01% | 7.84% | 8.79% | 9.20% | 11.32% | 10.73% | 8.61% | 8.10% | 10.43% | 5.02% |
SIXL ETC 6 Meridian Low Beta Equity Strategy ETF | 2.22% | 2.31% | 1.28% | 1.48% | 1.45% | 0.67% | 0.40% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SIXL and CEFS have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEFS has higher volatility (4.04%) compared to SIXL (3.79%). In terms of maximum drawdown, SIXL dropped -16.08% vs CEFS's -38.99%.
On 5-year performance, CEFS leads with 14.29% vs 4.12% for SIXL. On fees, SIXL is cheaper at 0.47% per year. On volatility, SIXL has been the lower-risk option at 3.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CEFS has performed better with a 14.29% return vs 4.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIXL is cheaper with a 0.47% expense ratio, compared with 2.61% for CEFS.
CEFS has the higher dividend yield at 7.01%, compared with 2.22% for SIXL.
SIXL is categorized as Mid Cap Blend Equities, while CEFS is Event Driven. Their fees differ too: 0.47% for SIXL and 2.61% for CEFS.
CEFS currently has the higher Sharpe Ratio (2.57 vs 0.75), 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.
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