ChangebridgeDefined OutcomeHedged Equity#312 of 318 by YTD
Clough Hedged Equity ETFCBLS
- AUM
- $31M
- Fee
- 1.89%
- Yield
- 0.9%
- Bumpy · 1Y
- 1.5×S&P
- Volume
- 5K
- NAV
- $27.47
52-week range20% below the high
$27.01$34.52
| Returns | 1D | 1M | 3M | YTD | 1Y | 3Y | 5Y | MAX |
|---|---|---|---|---|---|---|---|---|
| Total return | +1.7% | −13.0% | −10.7% | −0.1% | −1.3% | +48.1% | +6.9% | +37.4% |
| Peer average | +0.2% | −3.6% | −3.7% | +3.9% | +4.6% | +50.1% | +48.8% | — |
| S&P 500 · VOO | +0.3% | −5.0% | −4.6% | +8.7% | +9.8% | +80.8% | +71.8% | — |
CBLS in One Breath
CBLS Among Hedged Equity ETFs
YTDEnd-of-day Nov 8, 2026 · 29 Hedged equity ETFs by YTD
$10,000 in CBLS
5Y$10,000 in CBLS became
$10,693
In the S&P 500 (VOO)
$17,177
Total return, dividends in · Oct 29, 2021 – Nov 6, 2026 · S&P 500 uses VOO
CBLS Returns by Period
Today1D
1M
3M
YTD
1Y
3Y
5Y
MAX
CBLS
+1.7%
−13.0%
−10.7%
−0.1%
−1.3%
+48.1%
+6.9%
+37.4%
Peer average
+0.2%
−3.6%
−3.7%
+3.9%
+4.6%
+50.1%
+48.8%
—
S&P 500 · VOO
+0.3%
−5.0%
−4.6%
+8.7%
+9.8%
+80.8%
+71.8%
—
End-of-day Nov 8, 2026 · total return, dividends in · peers = 30 Hedged equity ETFs
CBLS’s Defined Outcome Rank
YTD#312of 318
defined outcome ETFs
defined outcome ETFs
Best · SIXH+14.7%
Average+5.9%
CBLS−0.1%
Worst · KBUF−16.9%
Defined Outcome ETFs by YTD return · Nov 8, 2026
CBLS Price and 52-Week Range
1YFrom the 52-week high
−20.5%
From the 52-week low
+1.7%
Today $27.36 – $27.46
Previous close $27.01
52-week low$27.0152-week high$34.52
End-of-day Nov 8, 2026 · box = today’s range, dashed = previous close
CBLS’s Share of Hedged Equity ETFs
Today0.2%
of the $14.6B in 31 Hedged equity ETFs
$30.8M0.2%
$4.8B32.9%
$3.3B22.3%
$6.5B44.6%
Hedged equity ETF AUM · Nov 8, 2026
CBLS Fee per $100 vs Peers
TodayExpense ratio · Hedged equity peers · Nov 8, 2026
Inside CBLS
20 holdingsCBLS
Clough Hedged Equity ETF
TodayCBLS reports no holdings we can show: […]
Changebridge CBLS · holdings
How It Compares
CBLS
Clough Hedged Equity ETF’s Peers
TodayHedged equity peers · Today’s and past-year returns · as of Nov 8, 2026 · sorted by AUM
Head to Head
Put CBLS head to head with HELO →HELO vs CBLS
YTDYear to date
HELO wins+2.8 pts
Past year
HELO wins+5.6 pts
Fee
HELO winslower fee
Yield
CBLS wins+0.3 pts
AUM
HELO155.7× more
3–1HELO wins
J.P. Morgan HELO and Changebridge CBLS · year-to-date · as of Nov 8, 2026 · AUM not scored
CBLS vs VOO
YTDCBLS · Clough Hedged Equity
−0.1%
VOO · S&P 500
+8.7%
Gap
8.9 pts
Changebridge CBLS and Vanguard VOO · Today total return · as of Nov 8, 2026
CBLS vs Its Peer Average
YTDCBLSAvsBPeer average
1D+1.7%+0.2%
1M−13.0%−3.6%
3M−10.7%−3.7%
YTD−0.1%+3.9%
1Y−1.3%+4.6%
3Y+48.1%+50.1%
5Y+6.9%+48.8%
1–6Peer average wins
30 Hedged equity peers · each row scaled to its leader
How Bumpy Is CBLS?
ViewCBLS
How Bumpy
1Y1.5×the S&P 500’s swings
CalmerBumpierS&P 1×CBLS
Bumpiest of 7 hedged equity fundsCBLS
Other hedged equity funds0.2× to 0.8×
Changebridge CBLS · daily swings over the past year vs the S&P 500
CBLS
Worst Drop
1Y−21.2%from its Jun 4 high
Still below the high−19.9%
$10,000 at the high is now$8,010
Changebridge CBLS · fall from the highest close, past year
CBLS
On a Bad Day
1Y0.8×the S&P 500’s fall
CBLS’s worst day: Friday, Jun 5Up days57 of every 100
S&P 500 up days52 of every 100
Changebridge CBLS · average move on days the S&P 500 fell
CBLS
Return for the Bumps
1Y#7 of 7 hedged equity fundsRanked by return above cash for each unit of bumpiness (Sharpe ratio) · cash = 3.8%
CBLS
Cost
Today$189a year per $10,000
Expense ratio 1.89%, taken from the fund’s value
CBLS
Volatility & Beta
1Y19.7%annual volatility
S&P 500 volatility13.6%
Downside volatility15.3%
Beta vs SPY0.78
Correlation vs SPY0.53
Beta rank, lowest first, of 7#7
Daily total returns × √252 · past 254 trading days
CBLS
Max Drawdown
1Y−21.2%peak to trough
Peak closeJun 4, 2026
Current drawdown−19.9%
Worst day−4.61% · Jun 5
Closing prices, dividends in
CBLS
Up / Down Capture
1Y84%down capture vs SPY
Up ÷ down capture0.88
Up days57.1% (S&P 52.0%)
Average daily move on SPY up days and down days
CBLS
Sharpe & Sortino vs Peers
1YSharpe = (return − 3.8% cash) ÷ volatility · Sortino uses downside volatility only
CBLS
Trading
Today−0.04%below its holdings’ value
Close$27.46
NAV$27.47
Fee per $10,000$189 a year
Avg. volume 30D27K shares
Close vs net asset value, Nov 6
The Details
CBLS
Fund Facts
Today2020launched Nov 13
Tracks[…]
Exchange · CUSIPAMEX · 210322806
StructureETF
Leverage1x
Cost on $10,000$189 a year
Go deeper
Changebridge CBLS · fund facts · as of Nov 8, 2026
CBLS
Payouts by Year
3Y$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$27.47
Premium / discount[…]
Median spread · 30D[…]
Volume today5K
Average volume · 30D27K
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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