Clough Select Equity ETF (CBSE) Performance
CBSE total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +11.4% since Dec 31, 2025
- 1 year
- +8.4% total return
- 5 years
- +9.0% a year
- Since first price
- +14.3% a year since 2020
CBSE trailing returns vs SPY, QQQ, AGG
| Period | CBSE total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −6.2% | −6.2% | −1.0% | −5.0% | +0.9% |
| 3 months | −9.7% | −9.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −5.5% | −5.5% | +7.8% | +8.4% | −1.5% |
| YTD | +11.4% | +11.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +8.4% | +8.0% | +14.4% | +15.9% | −1.1% |
| 3 years | +110.6%+28.2%/yr | +106.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +54.0%+9.0%/yr | +49.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionNov 13, 2020 | +121.4%+14.3%/yr | +115.3% | — | — | — |
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: CBSE vs SPY
From Nov 13, 2020: CBSE grew to $22,139, SPY to $23,010.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CBSE returns by calendar year
4 of 5 full years positive. Best 2024 (+32.2%), worst 2022 (−19.9%). 2026 is year to date.
CBSE annual returns table
| Year | CBSE | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +11.4% | −17.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +19.5% | −29.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +32.2% | −13.3% | +24.9% | +25.6% | +1.3% |
| 2023 | +17.3% | −14.9% | +26.2% | +54.9% | +5.7% |
| 2022 | −19.9% | −28.7% | −18.2% | −32.6% | −13.0% |
| 2021 | +14.6% | −15.2% | +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.
CBSE largest drawdowns
Now 16.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Nov 9, 2021 | −36.3% | Jun 16, 2022 | May 15, 2024 | 7 months | 2.5 years |
| Jan 24, 2025 | −29.4% | Apr 8, 2025 | Jun 26, 2025 | 2 months | 5 months |
| Jun 2, 2026 | −17.9% | Oct 22, 2026 | not yet | 5 months | 5 months so far |
| Oct 15, 2025 | −13.6% | Nov 20, 2025 | Jan 14, 2026 | 36 days | 3 months |
| Jul 16, 2024 | −13.3% | Aug 5, 2024 | Nov 7, 2024 | 20 days | 4 months |
| Jan 22, 2026 | −11.5% | Mar 30, 2026 | Apr 13, 2026 | 2 months | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
CBSE risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +28.3% | +10.3% | +14.8% |
| Volatility (annualized) | 23.1% | 23.2% | 22.7% |
| Sharpe ratio | 1.01 | 0.38 | 0.59 |
| Sortino ratio | 1.93 | 0.64 | 1.02 |
| Best month | +16.7% | +16.7% | +16.7% |
| Worst month | −11.6% | −11.6% | −11.6% |
| Best 12 months | +55.5% | +55.5% | +55.5% |
| Worst 12 months | +8.1% | −26.7% | −31.9% |
| Positive months | 64% | 55% | 57% |
| Beta vs S&P 500 | 1.60 | 1.22 | — |
| Correlation with S&P 500 | 0.86 | 0.82 | — |
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.
CBSE rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 60 | −31.9% | +16.0% | +55.5% | 75% |
| 3-year (a year) | 36 | −3.0% | +14.2% | +31.6% | 92% |
| 5-year (a year) | 12 | +7.3% | +10.4% | +14.0% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
CBSE performance overview
Clough Select Equity ETF (CBSE) returned +8.4% over the past year and +9.0% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +14.3% a year, turning $10,000 into about $22,139. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −36.3%, from Nov 9, 2021 to Jun 16, 2022, and it took 1.9 years to get back to the old high. CBSE finished 4 of its 5 full calendar years with a gain; the best year was 2024 (+32.2%) and the worst 2022 (−19.9%). Volatility has been 22.7% a year.
Related: CBSE chart, CBSE holdings, CBSE dividends, CBSE valuation. See the CBSE overview for the latest quote and fund facts.
CBSE performance FAQ
What is the CBSE return over the past year?
CBSE returned +8.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 8.0%.
What is the average annual return of CBSE?
CBSE has returned +9.0% a year over 5 years, +14.3% a year since November 13, 2020 (total return, distributions reinvested).
How much would $10,000 invested in CBSE be worth?
$10,000 invested in CBSE at its first recorded close on November 13, 2020 would be worth about $22,139 on October 23, 2026 with distributions reinvested.
What was the worst year for CBSE?
The worst calendar year was 2022, with a total return of −19.9%. The best was 2024 at +32.2%.
What is the biggest drawdown of CBSE?
The largest peak-to-trough decline was −36.3% between November 9, 2021 and June 16, 2022. It recovered to the old high on May 15, 2024, 1.9 years after the bottom.
How volatile is CBSE?
Over the past 3 years CBSE had an annualized volatility of 23.1% and a Sharpe ratio of 1.01 (excess return over 1–3 month T-bills per unit of risk).