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Launched · SEC filings

Clough Select Equity ETF

CBSENYSE ArcaChangebridgeD

$42.16−0.25 (−0.59%)

As of Nov 10, 2026, 11:25 AM ET

D34/ 100

Rank 97 of 125 in US Active Equity

D34/100Rank 97 of 125inUS Active Equity
Intraday session: down, 23 prints from 42.40 to 42.16. Range 41.95 to 42.59. Use the arrow keys to read each point.42.0042.3042.5042.6010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$42M
1Y total return
+9.0%
Yield · Last 12 months
0.32%
Holdings
38
Avg volume · 30D
5.23K sh
52W range
low $36.94high $52.82
Launched
Filings
SEC EDGAR

The ETF.net CBSE Grade

D

Score 34 out of 100

Category
US Active Equity⁠
Rank
97 of 125
Six-pillar profile for CBSE. Scores out of 100: Cost 28, Risk 15, Mission 26, Tradability 41, Holdings 73, Durability 40. Strongest: Holdings (73). Weakest: Risk (15). Leans toward Holdings.

Score 34 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.
    D28 out of 100
    Rank 88 of 125

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    D26 out of 100
    Rank 47 of 49

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F15 out of 100
    Rank 115 of 125

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C41 out of 100
    Rank 74 of 125

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A73 out of 100
    Rank 32 of 123

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C40 out of 100
    Rank 89 of 125

Our read on CBSE

ETF.net Research

In short

DA hand-picked active equity fund with an unusual triple job: current income, capital growth, and preservation of principal. Small, thinly traded, and priced like a manager you hire rather than an index you rent.

Stated mandate

The Fund seeks current income, capital growth, and preservation of principal.

Why people hold it

  • Genuinely active: the managers buy individual names screened for above-average financial characteristics, undervaluation or growth potential, instead of mirroring an index.
  • One mandate, three jobs. The stated objective pairs current income and capital growth with preservation of principal, an unusual combination to write into a single equity fund.
  • What is inside the portfolio is the strongest part of the package, holding up better than the fund's cost or risk profile.
  • Trading since 2020, so there is live history to judge rather than a backtest.

Worth knowing

  • At 0.85% a year, it prices above the typical active US equity ETF and many times index-style rivals like DFAU (0.12%) and FELC (0.18%), leaving it in the group's lower tier on cost.
  • It is a small fund that does not trade much, so spreads can widen and limit orders matter more than with a mega-cap index ETF.
  • Despite the income language in the objective, distributions land once or twice a year rather than monthly.

CBSE Performance

Launched Nov 13, 2020

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.
CBSE$10,905
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. CBSE $10,905. SPY $11,339. Use the arrow keys to read each point.$10,000$11,000$12,000$13,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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.

Trailing total return for CBSE. Periods over one year show the average yearly return.
PeriodCBSE
Year to date+7.5%
1 month−11.0%
3 months−11.6%
1 year+9.0%
3 yearsper year+25.8%
5 yearsper year+7.1%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for CBSE
YearReturn barCBSE
2026 YTD+7.5%
2025+19.5%
2024+32.2%
2023+17.2%
2022−19.9%
2021+14.6%
2020+16.9%

Since listing, Nov 13, 2020

CBSE in the news

CBSE Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 9, 2026.
0.32%Last 12 months
Payout per share
$0.14Last 12 months
Last payment
$0.14 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2022–2026

One bar per payment. 4 payments from 2022 to 2026 YTD. Dec 23, 2022 $0.11; Dec 21, 2023 $0.38; Dec 24, 2024 $0.12; Dec 30, 2025 $0.14. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$0.14
Dec 24, 2024Dec 26, 2024$0.12
Dec 21, 2023Dec 26, 2023$0.38
Dec 23, 2022Dec 28, 2022$0.11

$10,000 in CBSE 5 years ago paid $247 in dividends.

CBSE Risk

Risk pillarF15 out of 100Rank 115 of 125 in US Active Equity
How much the fund’s monthly returns vary, scaled to a year.
22.9%
Annualised · 36 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
1.04
vs 3-month T-bills · to Oct 2026
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.

The largest fall from a peak to the low that followed.
−36.3%
Trough Jun 2022
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.

How strongly the fund’s returns move with its asset-class index.
1.54
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

CBSE Cost

Compare CBSE and TACU

Overpaying vs TACU, cheapest in US Active Equity

$16,199

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • CBSE 0.85%

    $16,199

  • TACU 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • CBSE 0.85%
  • TACU 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530CBSE $16,199TACU $0

Year by year

YearCBSETACUOverpaying
10$1,508$0$1,508
20$5,706$0$5,706
30$16,199$0$16,199

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