Compare · 3 funds side by side · dividends reinvested

CBLS, HEGD and SFLR

CBLSChangebridge×HEGDSwan×SFLRInnovator×

Story of the three · Growth5Y$10,000 five years agoDividends reinvested · all three on one scale$14,275HEGD · best of the three

02 / 04

CBLS, HEGD and SFLR, Ranked

Today

FundFeeYieldYTD1 year3 yrs · yr5 yrs · yrWorst dropVolatilityAssetsAvg rank

Swan Hedged Equity US Large Cap ETFDefined Outcome · Hedged equity0.88%0.34%+5.4%+6.0%+14.1%+7.4%−4.6%8.6%$719M1.5

Innovator Equity Managed Floor ETFDefined Outcome · Hedged equity0.89%0.25%+5.3%+7.0%+15.4%[…]−6.8%10.8%$2.2B1.9

Clough Hedged Equity ETFDefined Outcome · Hedged equity1.89%0.87%+3.2%+2.0%+15.0%+1.8%−21.2%20.1%$31M2.5

Rank among the three1st → 3rdFee, drop and volatility: lower ranks higherAvg rank: mean of the 8 ranks · 1 is best

End-of-day Nov 9, 2026 · returns include dividends · since: CBLS 2020 · HEGD 2020 · SFLR 2022

Head to Head

Swap sides Versus in desk

Head to Head

Clough Hedged Equity ETF · $31M$10,933

CBLS

HEGD

Swan Hedged Equity US Large Cap ETF · $719M$14,275

$10,000 five years ago, dividends reinvested · they hold 0.0% in common

CBLSMeasureHEGD

+3.2%Year to dateJan 1 → Nov 9+5.4%

+2.0%1 yearTotal return+6.0%

+15.0%3 years · per year$10,000 became $15,220 · $14,849+14.1%

+1.8%5 years · per year$10,000 became $10,933 · $14,275+7.4%

1.89%Expense ratio$189 · $88 a year on $10k · lower is better0.88%

0.87%Trailing 12-mo yield$87 · $34 a year on $10k0.34%

−21.2%Worst dropSmaller is better−4.6%

20.1%VolatilityLower is calmer8.6%

CBLSHEGD Winner of the row, in its colourEach row: the bigger of the two fills its side

2–6HEGD wins

End-of-day Nov 9, 2026 · returns include dividends · 3Y and 5Y figures are per-year returns

More Ways to See the Pairs

CBLS vs HEGD: Top 5 Holdings

Today

CBLS

15.6%in top 5

HEGD

in top 592.3%

CBLSStockHEGD

not top 5SPY92.3%

3.4%SNnot top 5

3.2%ROLnot top 5

3.1%UNHnot top 5

3.0%SITMnot top 5

2.9%SCInot top 5

Held in common0.0%

End-of-day Nov 9, 2026 · share of each fund

CBLS vs HEGD Returns, Every Period

ChangebridgeCBLS

+1.8%

5 years, per year

HEGDSwan

+7.4%

5 years, per year

CBLSHEGDFaded: behind in that period

1–3HEGD wins

End-of-day Nov 9, 2026 · dividends in · faded = behind in that period

CBLS vs HEGD

YTD

ChangebridgeCBLS

+3.2%

HEGDSwan

+5.4%

+3.2%Year to date+5.4%

−21.2%Worst drop · 1Y−4.6%

20.1%Volatility · 1Y8.6%

0.9%Yield0.3%

$30.8MAssets$719M

3–1HEGD wins

End-of-day Nov 9, 2026 · smaller drop and lower volatility win

Cost, Income and Risk

Fees: CBLS, HEGD, SFLR

Today

0.88%lowest, HEGD

FundExpense ratioFee$10k

HEGD0.88%$88

SFLR0.89%$89

CBLS1.89%$189

End-of-day Nov 9, 2026 · fee on $10,000 a year

Yields: CBLS, HEGD, SFLR

0.87%highest, CBLS

FundTrailing yieldYield$10k

CBLS0.87%$87

HEGD0.34%$34

SFLR0.25%$25

End-of-day Nov 9, 2026 · trailing 12-month yield

Income After Fees on $10,000

−$54most kept, HEGD

HEGD$34 − $88 = −$54

SFLR$25 − $89 = −$64

CBLS$87 − $189 = −$102

KeptFee

End-of-day Nov 9, 2026 · yield in dollars minus the fee

Overlap: CBLS, HEGD, SFLR

Today

15.6%most shared, CBLS and SFLR

CBLSHEGDSFLR

CBLS—0.0%15.6%

HEGD0.0%—0.0%

SFLR15.6%0.0%—

End-of-day Nov 9, 2026 · share held in common · outlined: the pair in versus

Return vs Bumpiness: 3 ETFs

+7.0%SFLR, at 10.8% volatility

HEGDWorst drop−4.6%8.6% vol

SFLRWorst drop−6.8%10.8% vol

CBLSWorst drop−21.2%20.1% vol

End-of-day Nov 9, 2026 · up and left is better

Paid More vs Made More

YTD

CBLSHEGD

+3.2%Year to date+5.4%

0.9%Yield0.3%

+2.0%Past year+6.0%

1.89%Fee0.88%

3–1HEGD wins

End-of-day Nov 9, 2026

Popular Pairs Near These Three

SCHD vs VIG

YTD

SchwabSCHD

+33.2%

VIGVanguard

+14.8%

+33.2%Year to date+14.8%

3.0%Yield1.5%

$122BAssets$109B

2–0SCHD wins

End-of-day Nov 9, 2026

JEPQ vs JEPI

YTD

J.P. MorganJEPQ

+6.6%

JEPIJ.P. Morgan

+7.5%

+6.6%Year to date+7.5%

12.4%Yield7.9%

$40.7BAssets$45.2B

1–1level

End-of-day Nov 9, 2026

SPYM vs SPY

YTD

SPDRSPYM

+11.3%

SPYSPDR

+11.2%

+11.3%Year to date+11.2%

1.0%Yield1.0%

$179BAssets$778B

1–0SPYM wins

End-of-day Nov 9, 2026