Convergence Long/Short Equity ETF
$33.89−0.23 (−0.67%)
- Expense ratio
- 1.52%
- Fund size
- $979M
- 1Y return
- +31.9%
- Yield · Last 12 months
- 0.76%
- Holdings
- 362
- Volume · 30D
- 0.3M sh
- NAV per share
- $34.41
- 52W range
The ETF.net CLSE Grade
Score 53 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 24Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 62Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 97Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 80Category rank
Our read on CLSE
BA hedge-fund playbook in an ETF wrapper: Convergence buys the US mid- and large-caps it expects to outperform and shorts the ones it expects to lag, running a strategy that dates back to 2009.
The Fund seeks long-term capital growth through an actively managed portfolio of long and short positions in domestic companies’ equity securities. It generally favors medium- and large-capitalization companies, buying securities expected to outperform and shorting those expected to underperform.
Why people hold it
- Works both sides of the market: long the names it expects to outperform, short the ones it expects to lag, all inside a standard 1940 Act fund.
- The strategy dates to 2009, so it is a seasoned book rather than a freshly launched idea.
- Roughly 400 domestic positions across medium and large caps, so no single stock pick decides the outcome.
- Assets run into the hundreds of millions and shares change hands regularly, so entering and exiting is generally straightforward.
Worth knowing
- Pricey by ETF standards at 1.52% a year, against 0.12% for DFAU and 0.15% for AVLC. Shorting and active stock selection carry a real price tag.
- Shorts cut both ways: the sleeve meant to cushion a selloff can also weigh on results when the market climbs.
- Payouts land annually or semiannually. The stated mandate is long-term capital growth, not a steady income stream.
CLSE Holdings
- Stocks
- 362
- 71%
- Cash & Other
Sectors
- Technology37.8%
- Financials11.0%
- Health Care10.8%
- Consumer Discr.9.4%
- Communication9.3%
- Industrials8.0%
- Energy4.4%
- Cons. Staples3.6%
- Real Estate2.1%
- Materials2.1%
- Utilities1.5%
Geography
- United States97.60%
- Ireland1.33%
- France0.62%
- Luxembourg0.45%
CLSE Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | CLSE |
|---|---|
| Year to date | +24.8% |
| 1 month | +2.5% |
| 3 months | −1.0% |
| 1 year | +31.9% |
| 3 years | +29.7% |
| 5 years | — |
| 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 | CLSE |
|---|---|---|
| 2026 YTD | +24.8% | |
| 2025 | +20.4% | |
| 2024 | +35.5% | |
| 2023 | +17.5% | |
| 2022 | −3.0% |
CLSE in the news
ETF.net Research hasn’t filed on CLSE yet — coverage lands here as it’s written.
CLSE Dividends
- 0.76%
- $0.26
- $0.26 per share
- Annual
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Dec 15, 2025 | Dec 16, 2025 | $0.26 |
| Dec 16, 2024 | Dec 17, 2024 | $0.21 |
| Dec 15, 2023 | Dec 21, 2023 | $0.21 |
| Dec 15, 2022 | Dec 19, 2022 | $0.12 |
CLSE Risk
- 11.6%
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.
- 1.86
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.
- −16.4%
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.
- 0.73
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CLSE Cost
- The middle half of Alternative Strategies funds
- Median 1.00%
20 of the 29 Alternative Strategies funds charge less.