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Launched · SEC filings

Clough Select Equity ETF

CBSENYSE ArcaD

$47.03+0.01 (+0.02%)

As of Oct 13, 2026, 3:59 PM

D37/ 100

Rank 88 of 127 in US Active Equity

D37/100Rank 88 of 127inUS Active Equity
Intraday session: up, 79 prints from 47.02 to 47.03. Range 46.78 to 47.22. Use the arrow keys to read each point.46.8046.9047.1047.2010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$49M
1Y total return
+17.4%
Yield · Last 12 months
0.29%
Holdings
40
Avg volume · 30D
0M sh
NAV per share
$47.00
52W range
low $36.94high $52.82
Launched
Filings
SEC EDGAR

The ETF.net CBSE Grade

D

Score 37 out of 100

Category
US Active Equity⁠
Rank
88 of 127
Six-pillar profile for CBSE. Scores out of 100: Cost 29, Risk 21, Mission 29, Tradability 46, Holdings 71, Durability 43. Strongest: Holdings (71). Weakest: Risk (21). Leans toward Holdings.

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.
    D29 out of 100
    Rank 88 of 127

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    D29 out of 100
    Rank 46 of 48

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F21 out of 100
    Rank 114 of 126

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C46 out of 100
    Rank 66 of 127

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A71 out of 100
    Rank 37 of 124

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C43 out of 100
    Rank 86 of 127

Our read on CBSE

ETF.net Research

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

  1. 01Genuinely active: the managers buy individual names screened for above-average financial characteristics, undervaluation or growth potential, instead of mirroring an index.
  2. 02One 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.
  3. 03What is inside the portfolio is the strongest part of the package, holding up better than the fund's cost or risk profile.
  4. 04Trading since 2020, so there is live history to judge rather than a backtest.

Worth knowing

  1. 01At 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.
  2. 02It 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.
  3. 03Despite the income language in the objective, distributions land once or twice a year rather than monthly.

CBSE Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
40
Top-10 weight
30%
Largest holding
BlackRock Liquidity Funds T-Fund (Inst Shs)5.7%

Geography

  • United States85.66%
  • Brazil6.03%
  • Netherlands2.84%
  • Taiwan2.84%
  • Australia2.64%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—BlackRock Liquidity Funds T-Fund (Inst Shs)5.73%2,987,580$3M2
002NUNU Holdings Ltd/Cayman Islands3.08%99,660$2M156
003STNEStoneCo Ltd2.83%118,457$1M73
004OKTAOkta Inc2.81%6,283$1M260
005FROGJFrog Ltd2.72%13,846$1M116
006CRWDCrowdstrike Holdings Inc2.69%5,096$1M472
007PANWPalo Alto Networks Inc2.68%3,331$1M501
008SNSharkNinja Inc2.65%7,455$1M177
009APHAmphenol Corp2.60%15,525$1M454
010WTTRSelect Water Solutions Inc2.59%68,349$1M102
011TSMTaiwan Semiconductor Manufacturing Co Ltd ADR2.56%2,945$1M277
012ASMLASML Holding NV2.56%749$1M203
013CEGConstellation Energy Corp2.56%4,474$1M366
014SCCOSouthern Copper Corp2.56%6,359$1M213
015CCCCcc Intelligent Solutions Hold2.55%188,797$1M71

Showing 1–15 of 40 holdings

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$11,744
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. CBSE $11,744. SPY $12,044. Use the arrow keys to read each point.$8,950$11,201$13,452Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

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.

Trailing total return for CBSE. Periods over one year show the average yearly return.
PeriodCBSE
Year to date+19.2%
1 month−0.5%
3 months−5.6%
1 year+17.4%
3 yearsper year+29.6%
5 yearsper year+10.8%
10 yearsFund is under 10 years oldper year—

As of the close, 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+19.2%
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

Filtered to CBSE · US Active Equity

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 Oct 12, 2026.
0.29%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

CBSE Risk

How much the fund’s monthly returns vary, scaled to a year.
23.1%
Annualised · 36 months to Sep 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.
1.01
vs 3-month T-bills · to Sep 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.

CBSE Cost

Expense ratio0.85%
  • The middle half of US Active Equity funds
  • Median 0.70%

85 of the 123 US Active Equity funds charge less.

CBSE costs $85.00 a year on $10,000. The median US Active Equity fund costs $70.00.

Other funds in US Active Equity

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