TDSB vs. CLIP

Last updated Jun 25, 2026

TDSB (Cabana Target Drawdown 7 ETF) and CLIP (Global X 1-3 Month T-Bill ETF) are both exchange-traded funds - TDSB is a Tactical Allocation fund actively managed by Exchange Traded Concepts, while CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD. TDSB is actively managed, while CLIP is passively managed. Over the past 3 years, TDSB returned 8.34%/yr vs 4.64%/yr for CLIP. At a correlation of -0.03, they often move in opposite directions. TDSB charges 0.69%/yr vs 0.07%/yr for CLIP.

Performance

TDSB vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cabana Target Drawdown 7 ETF (TDSB) and Global X 1-3 Month T-Bill ETF (CLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TDSB achieves a 2.79% return, which is significantly higher than CLIP's 1.72% return.

TDSB

• 1D: -0.28%
• 1M: -1.78%
• YTD: 2.79%
• 6M: 2.23%
• 1Y: 12.26%
• 3Y*: 8.34%
• 5Y*: 1.69%
• 10Y*: —

CLIP

• 1D: 0.01%
• 1M: 0.30%
• YTD: 1.72%
• 6M: 1.78%
• 1Y: 3.95%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

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

TDSB vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TDSB Cabana Target Drawdown 7 ETF	2.79%	12.95%	3.56%	4.96%
CLIP Global X 1-3 Month T-Bill ETF	1.72%	4.23%	5.26%	2.82%

Correlation

The correlation between TDSB and CLIP is -0.01, 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	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023	-0.03

Return for Risk

TDSB vs. CLIP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TDSB

TDSB Risk / Return Rank: 65
TDSB Sharpe Ratio Rank: 69
TDSB Sortino Ratio Rank: 66
TDSB Omega Ratio Rank: 70
TDSB Calmar Ratio Rank: 61
TDSB Martin Ratio Rank: 62

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TDSB vs. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cabana Target Drawdown 7 ETF (TDSB) and Global X 1-3 Month T-Bill ETF (CLIP). 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.

	TDSB	CLIP	Difference
Sharpe ratio: Return per unit of total volatility	1.94	17.84	-15.90
Sortino ratio: Return per unit of downside risk	2.66	80.86	-78.20
Omega ratio: Gain probability vs. loss probability	1.36	26.35	-24.98
Calmar ratio: Return relative to maximum drawdown	2.65	141.67	-139.02
Martin ratio: Return relative to average drawdown	9.85	1,281.30	-1,271.45

TDSB vs. CLIP - Sharpe Ratio Comparison

The current TDSB Sharpe Ratio is 1.94, which is lower than the CLIP Sharpe Ratio of 17.84. The chart below compares the historical Sharpe Ratios of TDSB and CLIP, 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

TDSB vs. CLIP - Drawdown Comparison

The maximum TDSB drawdown since its inception was -19.56%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for TDSB and CLIP.

Drawdown Indicators

	TDSB	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	-19.56%	-0.08%	-19.48%
Max Drawdown (1Y) Largest decline over 1 year	-4.64%	-0.03%	-4.61%
Max Drawdown (3Y) Largest decline over 3 years	-6.84%	-0.08%	-6.76%
Max Drawdown (5Y) Largest decline over 5 years	-19.56%	—	—
Current Drawdown Current decline from peak	-2.56%	0.00%	-2.56%
Average Drawdown Average peak-to-trough decline	-9.06%	-0.00%	-9.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	0.00%	+1.25%

Volatility

TDSB vs. CLIP - Volatility Comparison

Cabana Target Drawdown 7 ETF (TDSB) has a higher volatility of 2.28% compared to Global X 1-3 Month T-Bill ETF (CLIP) at 0.06%. This indicates that TDSB's price experiences larger fluctuations and is considered to be riskier than CLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TDSB	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.28%	0.06%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	5.39%	0.15%	+5.24%
Volatility (1Y) Calculated over the trailing 1-year period	6.33%	0.22%	+6.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.36%	0.44%	+6.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.54%	0.44%	+7.10%

TDSB vs. CLIP - Expense Ratio Comparison

TDSB has a 0.69% expense ratio, which is higher than CLIP's 0.07% expense ratio.

Dividends

TDSB vs. CLIP - Dividend Comparison

TDSB's dividend yield for the trailing twelve months is around 2.16%, less than CLIP's 3.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CLIP Global X 1-3 Month T-Bill ETF	3.90%	4.14%	5.11%	2.75%	0.00%	0.00%	0.00%
TDSB Cabana Target Drawdown 7 ETF	2.16%	1.93%	3.50%	2.77%	1.81%	1.75%	0.46%

Frequently Asked Questions

Can I hold both TDSB and CLIP in my portfolio?

TDSB and CLIP have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TDSB or CLIP?

TDSB has higher volatility (2.28%) compared to CLIP (0.06%). In terms of maximum drawdown, TDSB dropped -19.56% vs CLIP's -0.08%.

Which ETF is better, TDSB or CLIP?

On 3-year performance, TDSB leads with 8.34% vs 4.64% for CLIP. On fees, CLIP is cheaper at 0.07% per year. On volatility, CLIP has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TDSB or CLIP?

Over the 3-year period, TDSB has performed better with a 8.34% return vs 4.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TDSB or CLIP?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.69% for TDSB.

Which ETF pays a higher dividend yield, TDSB or CLIP?

CLIP has the higher dividend yield at 3.90%, compared with 2.16% for TDSB.

What is the main difference between TDSB and CLIP?

TDSB is categorized as Tactical Allocation, while CLIP is Ultrashort Bond. They also come from different issuers: Exchange Traded Concepts and Global X. Their fees differ too: 0.69% for TDSB and 0.07% for CLIP.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.84 vs 1.94), 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.