Clough Hedged Equity ETFCBLS

ChangebridgeDefined OutcomeHedged Equity#313 of 318 by YTD

$28.14

−3.2% last session

+2.3% YTD

Data as of 11/4/20264:00 PM ET · End-of-day

Dividend-adjusted total return · S&P 500 uses VOO · Dec 31, 2025 – Nov 4, 2026CBLSS&P 500 · VOODefined Outcome average

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	−3.2%	−12.8%	−7.4%	+2.3%	−0.1%	+52.4%	+11.3%	+40.8%
Peer average	+0.9%	−1.5%	−0.7%	+6.7%	+6.9%	+56.2%	+54.5%	—
S&P 500 · VOO	+1.6%	−1.6%	0.0%	+13.4%	+13.5%	+91.7%	+81.2%	—

Key Statistics

Open all fund facts →

AUM: $50M
Expense ratio: 1.89%
Distribution yield: 0.9%
NAV: $29.09
Volume: 450K
Avg. volume 30D: 21K
High today: $28.60
Low today: $27.97
Previous close: $29.07
52-week high: $34.52
52-week low: $27.02
Our risk indicator: 3/5

CBLS in One Breath

CBLS Among Hedged Equity ETFs

YTD

#1SIXHMeridian+18.4%$744M

#2RFLRInnovator+13.7%$95.5M

#3KSPYKraneShares+10.3%$133M

#4PHEQEaton Vance+9.7%$149M

#5MAYZTrueShares+9.6%$32.9M

#6JUNZTrueShares+9.5%$29.9M

#7JULZTrueShares+9.5%$38.2M

#8SEPZTrueShares+9.5%$104M

#26CBLSChangebridge+2.3%$50.0M

End-of-day Nov 5, 2026 · 29 Hedged equity ETFs by YTD

$10,000 in CBLS

$10,000 in CBLS became

$11,127

In the S&P 500 (VOO)

$18,115

Total return, dividends in · Oct 27, 2021 – Nov 4, 2026 · S&P 500 uses VOO

CBLS Returns by Period

Today

YTD

MAX

CBLS

−3.2%

−12.8%

−7.4%

+2.3%

−0.1%

+52.4%

+11.3%

+40.8%

Peer average

+0.9%

−1.5%

−0.7%

+6.7%

+6.9%

+56.2%

+54.5%

—

S&P 500 · VOO

+1.6%

−1.6%

0.0%

+13.4%

+13.5%

+91.7%

+81.2%

—

End-of-day Nov 5, 2026 · total return, dividends in · peers = 30 Hedged equity ETFs

CBLS’s Defined Outcome Rank

YTD

#313of 318
defined outcome ETFs

Best · SIXH+18.4%

Average+8.3%

CBLS+2.3%

Worst · KBUF−17.1%

Defined Outcome ETFs by YTD return · Nov 5, 2026

CBLS Price and 52-Week Range

From the 52-week high

−18.5%

From the 52-week low

+4.1%

Today $27.97 – $28.60

Previous close $29.07

$28.14 now

52-week low$27.0252-week high$34.52

End-of-day Nov 5, 2026 · box = today’s range, dashed = previous close

CBLS’s Share of Hedged Equity ETFs

Today

0.3%

of the $14.8B in 31 Hedged equity ETFs

CBLS$50.0M0.3%

HELO$4.8B32.7%

BALT$3.2B21.9%

28 others$6.7B45.1%

Hedged equity ETF AUM · Nov 5, 2026

CBLS Fee per $100 vs Peers

Today

$1.89a year
per $100

$189 a year on $10,000

SIXH$0.31

HELO$0.50

FHEQ$0.52

BALT$0.69

SFLR$0.89

CBLS$1.89

Expense ratio · Hedged equity peers · Nov 5, 2026

Inside CBLS

20 holdings

CBLS

Clough Hedged Equity ETF

Today

CBLS reports no holdings we can show: […]

Changebridge CBLS · holdings

How It Compares

CBLS

Clough Hedged Equity ETF’s Peers

YTD


HELO	J.P. MorganRead Desk	0.50%	+5.3%	+6.7%	$4.8B
BALT	InnovatorRead Desk	0.69%	+4.7%	+6.3%	$3.2B
SFLR	InnovatorRead Desk	0.89%	+6.7%	+6.6%	$2.2B
FHEQ	FidelityRead Desk	0.52%	+8.4%	+7.5%	$986M
SIXH	MeridianRead Desk	0.31%	+18.4%	+23.9%	$744M
CBLS	ChangebridgeThis fundRead Desk	1.89%	+2.3%	−0.1%	$50M

Hedged equity peers · YTD and past-year returns · as of Nov 5, 2026 · sorted by AUM

Head to Head

Put CBLS head to head with HELO →

HELO vs CBLS

YTD

HELOJ.P. Morgan · Hedged equityCBLSChangebridge · Hedged equity

Year to date

+5.3%

+2.3%

HELO wins+3.0 pts

Past year

+6.7%

−0.1%

HELO wins+6.8 pts

Fee

0.50%

1.89%

HELO winslower fee

Yield

0.6%

0.9%

CBLS wins+0.3 pts

AUM

$4.8B

$50.0M

HELO96.8× more

3–1HELO wins

J.P. Morgan HELO and Changebridge CBLS · year-to-date · as of Nov 5, 2026 · AUM not scored

CBLS vs VOO

YTD

CBLS · Clough Hedged Equity

+2.3%

VOO · S&P 500

+13.4%

Gap

11.0 pts

Changebridge CBLS and Vanguard VOO · YTD total return · as of Nov 5, 2026

CBLS vs Its Peer Average

YTD

CBLSAvsBPeer average

1D−3.2%+0.9%

1M−12.8%−1.5%

3M−7.4%−0.7%

YTD+2.3%+6.7%

1Y−0.1%+6.9%

3Y+52.4%+56.2%

5Y+11.3%+54.5%

0–7Peer average wins

30 Hedged equity peers · each row scaled to its leader

The Details

CBLS

Risk

3/5our risk indicator

CalmerBumpier

Volatility · 1Y19.41%

Deepest drop · 1Y−17.9%

Lowest point · 5Y−27.0%

52-week range

$28.14

$27.02−18.5% from the high$34.52

Changebridge CBLS · past-year price moves · as of Nov 5, 2026

CBLS

Fund Facts

Today

2020launched Nov 13

Tracks[…]

Exchange · CUSIPAMEX · 210322806

StructureETF

Leverage1x

Cost on $10,000$189 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

Changebridge CBLS · fund facts · as of Nov 5, 2026

CBLS

Payouts by Year

$0.25per share, Dec 2025

Distribution yield0.9%

PaidOnce a year, in December

Latest ex-date · paidDec 30 · Dec 31, 2025

3 payouts added up$0.53 a share

Changebridge CBLS · distributions by ex-date · 2023–2025

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

SEC reported portfolio · 2026-07-31 ↗SEC reported portfolio · 2026-04-30 ↗SEC reported portfolio · 2026-01-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2025-10-31 ↗SEC reported portfolio · 2025-07-31 ↗SEC reported portfolio · 2025-04-30 ↗SEC reported portfolio · 2025-01-31 ↗summary prospectus · SEC 497K ↗

Trading & Liquidity

Net asset value$29.09

Premium / discount[…]

Median spread · 30D[…]

Volume today450K

Average volume · 30D21K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio1.89%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$189.00

Our risk indicator3/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Dec 30, 2025	Dec 31, 2025	$0.25
Dec 24, 2024	Dec 26, 2024	$0.19
Dec 21, 2023	Dec 26, 2023	$0.0900

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