Clough Hedged Equity ETF (CBLS) Performance
CBLS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +8.7% since Dec 31, 2025
- 1 year
- +7.3% total return
- 5 years
- +3.2% a year
- Since first price
- +7.0% a year since 2020
CBLS trailing returns vs SPY, QQQ, AGG
| Period | CBLS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.3% | −4.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −7.8% | −7.8% | +3.2% | +1.9% | −0.4% |
| 6 months | −5.5% | −5.5% | +7.8% | +8.4% | −1.5% |
| YTD | +8.7% | +8.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +7.3% | +6.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +61.4%+17.3%/yr | +58.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +17.2%+3.2%/yr | +14.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionNov 13, 2020 | +49.6%+7.0%/yr | +46.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: CBLS vs SPY
From Nov 13, 2020: CBLS grew to $14,958, SPY to $23,010.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CBLS returns by calendar year
3 of 5 full years positive. Best 2024 (+28.7%), worst 2022 (−11.6%). 2026 is year to date.
CBLS annual returns table
| Year | CBLS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +8.7% | −14.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +5.9% | −15.3% | +17.7% | +20.8% | +7.2% |
| 2024 | +28.7% | −10.0% | +24.9% | +25.6% | +1.3% |
| 2023 | −2.7% | −16.7% | +26.2% | +54.9% | +5.7% |
| 2022 | −11.6% | −21.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +2.8% | −14.6% | +28.7% | +27.4% | −1.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
CBLS largest drawdowns
Now 12.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 29, 2021 | −32.8% | Oct 5, 2023 | Jan 14, 2025 | 2.4 years | 3.7 years |
| Jan 22, 2025 | −15.3% | Apr 8, 2025 | Jul 17, 2025 | 2 months | 6 months |
| Jun 4, 2026 | −14.9% | Oct 22, 2026 | not yet | 5 months | 5 months so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
CBLS risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +18.7% | +4.0% | +7.3% |
| Volatility (annualized) | 14.8% | 16.1% | 16.8% |
| Sharpe ratio | 0.95 | 0.10 | 0.32 |
| Sortino ratio | 1.60 | 0.15 | 0.53 |
| Best month | +10.2% | +10.2% | +15.3% |
| Worst month | −11.2% | −11.2% | −11.2% |
| Best 12 months | +35.0% | +35.0% | +35.0% |
| Worst 12 months | +5.0% | −19.8% | −24.6% |
| Positive months | 69% | 55% | 54% |
| Beta vs S&P 500 | 0.75 | 0.59 | — |
| Correlation with S&P 500 | 0.63 | 0.58 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
CBLS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 60 | −24.6% | +6.1% | +35.0% | 62% |
| 3-year (a year) | 36 | −5.9% | +7.3% | +20.7% | 69% |
| 5-year (a year) | 12 | +1.9% | +3.8% | +6.2% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
CBLS performance overview
Clough Hedged Equity ETF (CBLS) returned +7.3% over the past year and +3.2% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +7.0% a year, turning $10,000 into about $14,958. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −32.8%, from Apr 29, 2021 to Oct 5, 2023, and it took 1.3 years to get back to the old high. CBLS finished 3 of its 5 full calendar years with a gain; the best year was 2024 (+28.7%) and the worst 2022 (−11.6%). Volatility has been 16.8% a year.
Related: CBLS chart, CBLS dividends. See the CBLS overview for the latest quote and fund facts.
CBLS performance FAQ
What is the CBLS return over the past year?
CBLS returned +7.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 6.3%.
What is the average annual return of CBLS?
CBLS has returned +3.2% a year over 5 years, +7.0% a year since November 13, 2020 (total return, distributions reinvested).
How much would $10,000 invested in CBLS be worth?
$10,000 invested in CBLS at its first recorded close on November 13, 2020 would be worth about $14,958 on October 23, 2026 with distributions reinvested.
What was the worst year for CBLS?
The worst calendar year was 2022, with a total return of −11.6%. The best was 2024 at +28.7%.
What is the biggest drawdown of CBLS?
The largest peak-to-trough decline was −32.8% between April 29, 2021 and October 5, 2023. It recovered to the old high on January 14, 2025, 1.3 years after the bottom.
How volatile is CBLS?
Over the past 3 years CBLS had an annualized volatility of 14.8% and a Sharpe ratio of 0.95 (excess return over 1–3 month T-bills per unit of risk).