{"url":"https://etfiq.com/compare/alternatives/cbls-vs-csm","section":"compare","title":"CBLS vs CSM: Correlation to the S&P 500 | ETFIQ","description":"CBLS and CSM both run long-short equity strategies. Over the year to Nov 4, 2026, CBLS had a correlation of +0.59 with the S&P 500 and CSM +0.98.","as_of":"Nov 4, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, CBLS or CSM?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Nov 4, 2026, CBLS\u2019s weekly returns had a correlation of +0.59 with the S&P 500 and CSM\u2019s +0.98, so CBLS moved less with the index."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, CBLS or CSM?","acceptedAnswer":{"@type":"Answer","text":"In the 26 weeks the S&P 500 fell, by 1.07% a week on average, CBLS averaged \u22121.61% and CSM \u22120.97%, so CSM returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, CBLS or CSM?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, CBLS finished 2.5 percentage points behind cash and CSM finished 10.1 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills."}},{"@type":"Question","name":"Which is cheaper, CBLS or CSM?","acceptedAnswer":{"@type":"Answer","text":"CBLS charges 1.89% a year and CSM charges 0.45%, so CSM is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Alternatives ETFs","item":"https://etfiq.com/alternatives/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"CBLS vs CSM","item":"https://etfiq.com/compare/alternatives/cbls-vs-csm"}]},{"@type":"WebPage","name":"CBLS vs CSM: Correlation to the S&P 500","description":"CBLS and CSM both run long-short equity strategies. Over the year to Nov 4, 2026, CBLS had a correlation of +0.59 with the S&P 500 and CSM +0.98.","url":"https://etfiq.com/compare/alternatives/cbls-vs-csm","dateModified":"2026-11-04","abstract":"Over the year to Nov 4, 2026, CBLS moved less with the S&P 500 than CSM: correlation +0.59 against +0.98.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of CBLS and CSM","description":"CBLS and CSM both run long-short equity strategies. Over the year to Nov 4, 2026, CBLS had a correlation of +0.59 with the S&P 500 and CSM +0.98.","dateModified":"2026-11-04","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/cbls-vs-csm","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/alternatives.json"}],"variableMeasured":["Correlation with the S&P 500","Beta to the S&P 500","Down-week capture","Average week when the S&P 500 fell","Return against T-bills","Total return","Strategy","Expense ratio"],"keywords":["exchange-traded funds","ETF","Alternatives ETFs","fund data","SEC filings"]}],"characters":6484,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / CBLS vs CSM \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Nov 4, 2026 .\n\n CBLS vs CSM: Correlation to the S&P 500\n\n Over the year to Nov 4, 2026, CBLS moved less with the S&P 500 than CSM: correlation +0.59 against +0.98.\n Copy this for sharing \n \n CSM costs 1.44 points a year less; their one-year returns differ by 13.2 points.\n CBLS and CSM at a glance. As of Nov 4, 2026. Source: ETFIQ. CBLS CSM \n Expense ratio 1.89% 0.45% \n Net assets, CBLS as of Jul 31, 2026 and CSM as of Nov 4, 2026 $56m $521m \n Total return, 1 year +1.2% +14.4% \n Holding","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, CBLS against CSM, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/cbls-vs-csm","a":{"ticker":"CBLS","name":"Clough Hedged Equity ETF","issuer":"Clough","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, CBLS returned 1.2%. When the S&P 500 fell, it fell 1.5 times as much.","url":"https://etfiq.com/funds/cbls","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.59","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.97","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"150.0%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"\u22122.5 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"0.9%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid annually), ex-date Dec 30, 2025","value":"$0.247","as_of":"2025-12-30","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$56m","as_of":"2026-07-31","source":"SEC N-PORT, whole fund, as filed for Jul 31, 2026"},{"label":"Expense ratio","value":"1.89%","as_of":"2026-02-27","source":"485BPOS XBRL, Feb 27, 2026"}]},"b":{"ticker":"CSM","name":"ProShares Large Cap Core Plus","issuer":"ProShares","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, CSM returned 14.4%, against 14.8% for IVV.","url":"https://etfiq.com/funds/csm","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.98","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.94","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"90.7%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+10.1 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"1.2%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 23, 2026","value":"$0.2124","as_of":"2026-09-23","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$521m","as_of":"2026-11-04","source":"issuer page, as of Nov 4, 2026"},{"label":"Expense ratio","value":"0.45%","as_of":"2026-09-25","source":"485BPOS XBRL, Sep 25, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/alternatives/cbls-vs-csm"}