TDSC vs. CLIP

Last updated Jun 24, 2026

TDSC (Cabana Target Drawdown 10 ETF) and CLIP (Global X 1-3 Month T-Bill ETF) are both exchange-traded funds - TDSC 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. TDSC is actively managed, while CLIP is passively managed. Over the past 3 years, TDSC returned 10.55%/yr vs 4.64%/yr for CLIP. At a correlation of -0.03, they often move in opposite directions. TDSC charges 0.69%/yr vs 0.07%/yr for CLIP.

Performance

TDSC vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cabana Target Drawdown 10 ETF (TDSC) 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, TDSC achieves a 8.99% return, which is significantly higher than CLIP's 1.71% return.

TDSC

• 1D: -0.84%
• 1M: -1.31%
• YTD: 8.99%
• 6M: 8.11%
• 1Y: 16.68%
• 3Y*: 10.55%
• 5Y*: 2.67%
• 10Y*: —

CLIP

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.71%
• 6M: 1.80%
• 1Y: 3.95%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

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

TDSC vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TDSC Cabana Target Drawdown 10 ETF	8.99%	6.56%	7.10%	7.08%
CLIP Global X 1-3 Month T-Bill ETF	1.71%	4.23%	5.26%	2.82%

Correlation

The correlation between TDSC and CLIP is -0.02, 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	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023	-0.03

Return for Risk

TDSC vs. CLIP — Risk / Return Rank

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

TDSC

TDSC Risk / Return Rank: 61
TDSC Sharpe Ratio Rank: 57
TDSC Sortino Ratio Rank: 56
TDSC Omega Ratio Rank: 54
TDSC Calmar Ratio Rank: 68
TDSC Martin Ratio Rank: 68

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.

TDSC vs. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cabana Target Drawdown 10 ETF (TDSC) 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.

	TDSC	CLIP	Difference
Sharpe ratio: Return per unit of total volatility	1.78	17.84	-16.06
Sortino ratio: Return per unit of downside risk	2.47	80.86	-78.39
Omega ratio: Gain probability vs. loss probability	1.32	26.35	-25.03
Calmar ratio: Return relative to maximum drawdown	3.13	141.67	-138.53
Martin ratio: Return relative to average drawdown	11.61	1,281.30	-1,269.69

TDSC vs. CLIP - Sharpe Ratio Comparison

The current TDSC Sharpe Ratio is 1.78, which is lower than the CLIP Sharpe Ratio of 17.84. The chart below compares the historical Sharpe Ratios of TDSC 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

TDSC vs. CLIP - Drawdown Comparison

The maximum TDSC drawdown since its inception was -21.51%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for TDSC and CLIP.

Drawdown Indicators

	TDSC	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	-21.51%	-0.08%	-21.43%
Max Drawdown (1Y) Largest decline over 1 year	-5.35%	-0.03%	-5.32%
Max Drawdown (3Y) Largest decline over 3 years	-14.24%	-0.08%	-14.16%
Max Drawdown (5Y) Largest decline over 5 years	-21.51%	—	—
Current Drawdown Current decline from peak	-2.47%	0.00%	-2.47%
Average Drawdown Average peak-to-trough decline	-9.31%	-0.00%	-9.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	0.00%	+1.44%

Volatility

TDSC vs. CLIP - Volatility Comparison

Cabana Target Drawdown 10 ETF (TDSC) has a higher volatility of 3.67% compared to Global X 1-3 Month T-Bill ETF (CLIP) at 0.07%. This indicates that TDSC'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

	TDSC	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	0.07%	+3.60%
Volatility (6M) Calculated over the trailing 6-month period	7.31%	0.15%	+7.16%
Volatility (1Y) Calculated over the trailing 1-year period	9.42%	0.22%	+9.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.38%	0.44%	+9.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.27%	0.44%	+9.83%

TDSC vs. CLIP - Expense Ratio Comparison

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

Dividends

TDSC vs. CLIP - Dividend Comparison

TDSC's dividend yield for the trailing twelve months is around 2.05%, 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%
TDSC Cabana Target Drawdown 10 ETF	2.05%	2.92%	2.06%	2.06%	1.76%	1.11%	0.54%

Frequently Asked Questions

Can I hold both TDSC and CLIP in my portfolio?

TDSC and CLIP have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TDSC or CLIP?

TDSC has higher volatility (3.67%) compared to CLIP (0.07%). In terms of maximum drawdown, TDSC dropped -21.51% vs CLIP's -0.08%.

Which ETF is better, TDSC or CLIP?

On 3-year performance, TDSC leads with 10.55% 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 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TDSC or CLIP?

Over the 3-year period, TDSC has performed better with a 10.55% return vs 4.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TDSC or CLIP?

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

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

CLIP has the higher dividend yield at 3.90%, compared with 2.05% for TDSC.

What is the main difference between TDSC and CLIP?

TDSC 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 TDSC and 0.07% for CLIP.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.84 vs 1.78), 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.