Convergence Long/Short Equity ETF (CLSE) Performance
CLSE total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +22.1% since Dec 31, 2025
- 1 year
- +28.9% total return
- 3 years
- +28.4% a year
- Since first price
- +19.6% a year since 2022
CLSE trailing returns vs SPY, QQQ, AGG
| Period | CLSE total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.5% | −1.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −2.1% | −2.1% | +3.2% | +1.9% | −0.4% |
| 6 months | +8.3% | +8.3% | +7.8% | +8.4% | −1.5% |
| YTD | +22.1% | +22.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +28.9% | +27.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +111.6%+28.4%/yr | +105.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionFeb 18, 2022 | +131.3%+19.6%/yr | +122.4% | — | — | — |
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: CLSE vs SPY
From Feb 18, 2022: CLSE grew to $23,129, SPY to $18,647.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CLSE returns by calendar year
3 of 3 full years positive. Best 2024 (+35.5%), worst 2023 (+17.5%). 2026 is year to date.
CLSE annual returns table
| Year | CLSE | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +22.1% | −4.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +20.4% | −16.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +35.5% | −7.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +17.5% | −4.8% | +26.2% | +54.9% | +5.7% |
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.
CLSE largest drawdowns
Now 3.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 23, 2025 | −16.4% | Apr 4, 2025 | Jul 31, 2025 | 2 months | 6 months |
| Apr 20, 2022 | −14.3% | Sep 30, 2022 | Jul 17, 2023 | 5 months | 1.2 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
CLSE risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | +29.4% | +19.9% |
| Volatility (annualized) | 11.5% | 12.3% |
| Sharpe ratio | 1.95 | 1.23 |
| Sortino ratio | 5.23 | 2.37 |
| Best month | +11.2% | +11.2% |
| Worst month | −4.8% | −8.1% |
| Best 12 months | +48.8% | +48.8% |
| Worst 12 months | +6.7% | −3.8% |
| Positive months | 78% | 71% |
| Beta vs S&P 500 | 0.74 | — |
| Correlation with S&P 500 | 0.81 | — |
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.
CLSE rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 45 | −3.8% | +22.2% | +48.8% | 91% |
| 3-year (a year) | 21 | +12.1% | +24.3% | +32.4% | 100% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
CLSE performance overview
Convergence Long/Short Equity ETF (CLSE) returned +28.9% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned +19.6% a year, turning $10,000 into about $23,129. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −16.4%, from Jan 23, 2025 to Apr 4, 2025, and it took 4 months to get back to the old high. CLSE finished 3 of its 3 full calendar years with a gain; the best year was 2024 (+35.5%) and the worst 2023 (+17.5%). Volatility has been 12.3% a year.
Related: CLSE chart, CLSE dividends. See the CLSE overview for the latest quote and fund facts.
CLSE performance FAQ
What is the CLSE return over the past year?
CLSE returned +28.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 27.7%.
How much would $10,000 invested in CLSE be worth?
$10,000 invested in CLSE at its first recorded close on February 18, 2022 would be worth about $23,129 on October 23, 2026 with distributions reinvested.
What was the worst year for CLSE?
The worst calendar year was 2023, with a total return of +17.5%. The best was 2024 at +35.5%.
What is the biggest drawdown of CLSE?
The largest peak-to-trough decline was −16.4% between January 23, 2025 and April 4, 2025. It recovered to the old high on July 31, 2025, 4 months after the bottom.
How volatile is CLSE?
Over the past 3 years CLSE had an annualized volatility of 11.5% and a Sharpe ratio of 1.95 (excess return over 1–3 month T-bills per unit of risk).