{"url":"https://etfiq.com/compare/alternatives/cbls-vs-ftls","section":"compare","title":"CBLS vs FTLS: Correlation to the S&P 500 | ETFIQ","description":"CBLS and FTLS both run long-short equity strategies. Over the year to Nov 5, 2026, CBLS had a correlation of +0.56 with the S&P 500 and FTLS +0.83.","as_of":"Nov 5, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, CBLS or FTLS?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Nov 5, 2026, CBLS\u2019s weekly returns had a correlation of +0.56 with the S&P 500 and FTLS\u2019s +0.83, so CBLS moved less with the index."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, CBLS or FTLS?","acceptedAnswer":{"@type":"Answer","text":"In the 20 weeks the S&P 500 fell, by 1.61% a week on average, CBLS averaged \u22121.72% and FTLS \u22120.86%, so FTLS returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, CBLS or FTLS?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, CBLS finished 6.6 percentage points behind cash and FTLS finished 1.7 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills."}},{"@type":"Question","name":"Which is cheaper, CBLS or FTLS?","acceptedAnswer":{"@type":"Answer","text":"CBLS charges 1.89% a year and FTLS charges 1.38%, so FTLS 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 FTLS","item":"https://etfiq.com/compare/alternatives/cbls-vs-ftls"}]},{"@type":"WebPage","name":"CBLS vs FTLS: Correlation to the S&P 500","description":"CBLS and FTLS both run long-short equity strategies. Over the year to Nov 5, 2026, CBLS had a correlation of +0.56 with the S&P 500 and FTLS +0.83.","url":"https://etfiq.com/compare/alternatives/cbls-vs-ftls","dateModified":"2026-11-05","abstract":"Over the year to Nov 5, 2026, CBLS moved less with the S&P 500 than FTLS: correlation +0.56 against +0.83.","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 FTLS","description":"CBLS and FTLS both run long-short equity strategies. Over the year to Nov 5, 2026, CBLS had a correlation of +0.56 with the S&P 500 and FTLS +0.83.","dateModified":"2026-11-05","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/cbls-vs-ftls","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":6541,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / CBLS vs FTLS \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Nov 5, 2026 .\n\n CBLS vs FTLS: Correlation to the S&P 500\n\n Over the year to Nov 5, 2026, CBLS moved less with the S&P 500 than FTLS: correlation +0.56 against +0.83.\n Copy this for sharing \n \n FTLS costs 0.51 points a year less; their one-year returns differ by 7.7 points.\n CBLS and FTLS at a glance. As of Nov 5, 2026. Source: ETFIQ. CBLS FTLS \n Expense ratio 1.89% 1.38% \n Net assets, CBLS as of Jul 31, 2026 and FTLS as of Nov 4, 2026 $56m $2.6bn \n Total return, 1 year \u22122.9% +4.8% \n H","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 FTLS, data as of Nov 5, 2026. https://etfiq.com/compare/alternatives/cbls-vs-ftls","a":{"ticker":"CBLS","name":"Clough Hedged Equity ETF","issuer":"Clough","desk":"alternatives","as_of":"2026-11-05","verdict":"Over the year to Nov 5, 2026, CBLS lost 2.9%. When the S&P 500 fell, it fell 1.1 times as much.","url":"https://etfiq.com/funds/cbls","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.56","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.94","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"106.4%","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"\u22126.6 pts","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"0.9%","as_of":"2026-11-05","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":"FTLS","name":"First Trust Long/Short Equity","issuer":"First Trust","desk":"alternatives","as_of":"2026-11-05","verdict":"Over the year to Nov 5, 2026, FTLS returned 4.8%, against 9.5% for VOO.","url":"https://etfiq.com/funds/ftls","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.83","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.53","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"53.4%","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+1.7 pts","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"0.9%","as_of":"2026-11-05","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 24, 2026","value":"$0.1825","as_of":"2026-09-24","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$2.6bn","as_of":"2026-11-04","source":"issuer page, as of Nov 4, 2026"},{"label":"Expense ratio","value":"1.38%","as_of":"2026-02-27","source":"485BPOS XBRL, Feb 27, 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-ftls"}