Clough Hedged Equity ETF
$31.57+0.07 (+0.24%)
- 1.89%
- $57M
- +11.7%
- 0.78%
- 0M sh
- $31.49
- low $27.02high $34.52
The ETF.net CBLS Grade
D
Score 37 out of 100
- 21 of 30
Score 37 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F24 out of 100Rank 23 of 30Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D39 out of 100Rank 21 of 30Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B55 out of 100Rank 14 of 30Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B56 out of 100Rank 13 of 30
Our read on CBLS
DA real long book paired with a real short book, wrapped in an everyday ETF. Live since 2020, it lets an active manager bet on the stocks he likes and against the ones he doesn't, and it charges hedge-fund-adjacent money to do it.
The Fund is an actively managed ETF that seeks returns by buying securities the adviser views as financially strong, undervalued, or capable of growth, while shorting securities the adviser expects to decline.
Why people hold it
- Actual shorting, not a synthetic proxy: the adviser buys names it views as undervalued, financially strong or growing, and sells short the ones it expects to fall.
- Hedge-fund mechanics in a 1940 Act fund: daily pricing on an exchange, no lockups, no accreditation gate, disclosed holdings.
- Trading since November 2020, so there is a multi-year, real-money record across sharply different markets to judge, not a backtest.
- No index to hug. The balance between longs and shorts moves with the manager's judgment rather than a rulebook.
Worth knowing
- The 1.89% expense ratio is the loudest fact in the file, at the high end of the alternatives shelf next to peers such as QALT (0.80%) and RNMN (0.59%).
- Thinly traded, so bid-ask spreads and order type matter far more here than with a mega-cap index fund.
- Results ride on one team's stock calls, and the short book carries borrow costs plus the risk of losing on both sides at once.
CBLS Holdings
- Stocks
- 38
- 76%
- Broker Sweep
Sectors
- Technology47.0%
- Energy28.5%
- Financials7.2%
- Materials7.1%
- Industrials5.0%
- Utilities3.9%
- Health Care1.2%
Geography
- United States89.08%
- Brazil5.60%
- Taiwan2.79%
- Netherlands2.53%
CBLS Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
CBLS$11,171
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | CBLS |
|---|---|
| Year to date | +14.5% |
| 1 month | +1.8% |
| 3 months | −2.9% |
| 1 year | +11.7% |
| 3 years | +19.2% |
| 5 years | +4.5% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | CBLS |
|---|---|---|
| 2026 YTD | +14.5% | |
| 2025 | +5.9% | |
| 2024 | +28.8% | |
| 2023 | −2.7% | |
| 2022 | −11.6% | |
| 2021 | +2.9% | |
| 2020 | +14.1% |
CBLS in the news
CBLS Dividends
- 0.78%
- $0.25
- $0.25 per share
- Annual
Distribution history
CBLS Risk
- 14.8%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.94
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −31.2%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.71
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CBLS Cost
1.89%
CBLS1.89%
- The middle half of Alternative Strategies funds
- Median 1.00%
22 of the 30 Alternative Strategies funds charge less.
Other funds in Alternative Strategies
- CMKTNFederated Hermes MDT Market Neutral ETFExpense ratio 2.27%1 year return +16.7%
- CLBAYLeatherback Long/Short Alternative Yield ETFExpense ratio 1.27%1 year return +7.7%
- DEVNTAltShares Event-Driven ETFExpense ratio 1.33%1 year return +9.6%
- DFFLSThe Future Fund Long/Short ETFExpense ratio 2.05%1 year return +1.5%
- DLSEQHarbor Long-Short Equity ETF (LSEQ)Expense ratio 2.28%1 year return +28.0%