USAF vs. CLSM

Last updated Jun 4, 2026

USAF (Atlas America Fund) and CLSM (Cabana Target Leading Sector Moderate ETF) are both exchange-traded funds - USAF is a Diversified Portfolio fund actively managed by Atlas, while CLSM is a Tactical Allocation fund tracking the Actively Managed. USAF is actively managed, while CLSM is passively managed. Over the past year, USAF returned 6.07% vs 34.21% for CLSM. At a 0.32 correlation, their price movements are largely independent. USAF charges 0.89%/yr vs 0.82%/yr for CLSM.

Performance

USAF vs. CLSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Atlas America Fund (USAF) and Cabana Target Leading Sector Moderate ETF (CLSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USAF achieves a 2.08% return, which is significantly lower than CLSM's 20.45% return.

USAF

• 1D: -0.37%
• 1M: -0.68%
• YTD: 2.08%
• 6M: 2.69%
• 1Y: 6.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLSM

• 1D: -0.38%
• 1M: 9.23%
• YTD: 20.45%
• 6M: 20.19%
• 1Y: 34.21%
• 3Y*: 13.75%
• 5Y*: —
• 10Y*: —

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

USAF vs. CLSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
USAF Atlas America Fund	2.08%	9.09%	0.23%
CLSM Cabana Target Leading Sector Moderate ETF	20.45%	15.32%	-4.08%

Correlation

The correlation between USAF and CLSM is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	0.32

Return for Risk

USAF vs. CLSM — Risk / Return Rank

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

USAF

USAF Risk / Return Rank: 27
USAF Sharpe Ratio Rank: 28
USAF Sortino Ratio Rank: 25
USAF Omega Ratio Rank: 29
USAF Calmar Ratio Rank: 28
USAF Martin Ratio Rank: 25

CLSM

CLSM Risk / Return Rank: 82
CLSM Sharpe Ratio Rank: 83
CLSM Sortino Ratio Rank: 80
CLSM Omega Ratio Rank: 83
CLSM Calmar Ratio Rank: 80
CLSM Martin Ratio Rank: 83

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.

USAF vs. CLSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Atlas America Fund (USAF) and Cabana Target Leading Sector Moderate ETF (CLSM). 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.

	USAF	CLSM	Difference
Sharpe ratio: Return per unit of total volatility	1.02	2.71	-1.69
Sortino ratio: Return per unit of downside risk	1.36	3.58	-2.23
Omega ratio: Gain probability vs. loss probability	1.19	1.50	-0.30
Calmar ratio: Return relative to maximum drawdown	1.37	4.04	-2.68
Martin ratio: Return relative to average drawdown	3.27	16.72	-13.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USAF vs. CLSM - Sharpe Ratio Comparison

The current USAF Sharpe Ratio is 1.02, which is lower than the CLSM Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of USAF and CLSM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	USAF	CLSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	2.71	-1.69
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	0.35	+0.97

Drawdowns

USAF vs. CLSM - Drawdown Comparison

The maximum USAF drawdown since its inception was -4.46%, smaller than the maximum CLSM drawdown of -27.77%. Use the drawdown chart below to compare losses from any high point for USAF and CLSM.

Drawdown Indicators

	USAF	CLSM	Difference
Max Drawdown Largest peak-to-trough decline	-4.46%	-27.77%	+23.31%
Max Drawdown (1Y) Largest decline over 1 year	-4.46%	-8.50%	+4.04%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.60%	—
Current Drawdown Current decline from peak	-3.41%	-0.38%	-3.03%
Average Drawdown Average peak-to-trough decline	-1.09%	-16.49%	+15.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	2.05%	-0.19%

Volatility

USAF vs. CLSM - Volatility Comparison

The current volatility for Atlas America Fund (USAF) is 1.08%, while Cabana Target Leading Sector Moderate ETF (CLSM) has a volatility of 3.58%. This indicates that USAF experiences smaller price fluctuations and is considered to be less risky than CLSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USAF	CLSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	3.58%	-2.50%
Volatility (6M) Calculated over the trailing 6-month period	4.74%	10.54%	-5.80%
Volatility (1Y) Calculated over the trailing 1-year period	6.00%	12.70%	-6.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.69%	12.47%	-6.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.69%	12.47%	-6.78%

USAF vs. CLSM - Expense Ratio Comparison

USAF has a 0.89% expense ratio, which is higher than CLSM's 0.82% expense ratio.

Dividends

USAF vs. CLSM - Dividend Comparison

USAF's dividend yield for the trailing twelve months is around 2.45%, more than CLSM's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021
CLSM Cabana Target Leading Sector Moderate ETF	0.75%	0.90%	2.13%	2.58%	3.17%	0.59%
USAF Atlas America Fund	2.45%	2.50%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USAF and CLSM in my portfolio?

USAF and CLSM have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USAF or CLSM?

CLSM has higher volatility (3.58%) compared to USAF (1.08%). In terms of maximum drawdown, USAF dropped -4.46% vs CLSM's -27.77%.

Which ETF is better, USAF or CLSM?

On 1-year performance, CLSM leads with 34.21% vs 6.07% for USAF. On fees, CLSM is cheaper at 0.82% per year. On volatility, USAF has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USAF or CLSM?

Over the 1-year period, CLSM has performed better with a 34.21% return vs 6.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USAF or CLSM?

CLSM is cheaper with a 0.82% expense ratio, compared with 0.89% for USAF.

Which ETF pays a higher dividend yield, USAF or CLSM?

USAF has the higher dividend yield at 2.45%, compared with 0.75% for CLSM.

What is the main difference between USAF and CLSM?

USAF is categorized as Diversified Portfolio, while CLSM is Tactical Allocation. They also come from different issuers: Atlas and Cabana. Their fees differ too: 0.89% for USAF and 0.82% for CLSM.

Which has better risk-adjusted returns?

CLSM currently has the higher Sharpe Ratio (2.71 vs 1.02), 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.