Are CBLS and TLT in the same category?

CBLS is an alternatives ETF and TLT is a bond ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.

Which returned more over the last year, CBLS or TLT?

In the year to Nov 4, 2026, with distributions reinvested, CBLS returned +1.2% and TLT −4.8%.

Which is cheaper, CBLS or TLT?

TLT is cheaper, by 1.74 percentage points a year. That is about $174 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Across categories

CBLS vs TLT: Differences, Returns & Fees

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Over the year to Nov 4, 2026, CBLS returned +1.2% to TLT's −4.8%, and TLT charges 0.15% to CBLS's 1.89%.

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Net assets: $56m on Jul 31, 2026 for Clough Hedged Equity ETF, and $48.3bn on Nov 3, 2026 for iShares 20+ Year Treasury Bond ETF.

CBLS on its own →TLT on its own →

At a glance

+1.2%

CBLS total return, 1 year

−4.8%

TLT total return, 1 year

1.89%

CBLS expense ratio

0.15%

TLT expense ratio

Pair scorecard

TLT costs 1.74 points a year less; their one-year returns differ by 6.0 points.

CBLS vs TLT: Differences, Returns & Fees
Measure	CBLS	TLT
Return
Measure	CBLS	TLT
Total return, 1 year	+1.2%	−4.8%
Total return, 52 weeks	+1.1%
Drawdown
Measure	CBLS	TLT
Below its high		41.8%, high on Aug 4, 2020
Against its benchmark
Measure	CBLS	TLT
What it tracks	not published	ICE U.S. Treasury 20+ Year Bond Index
Treasury bills, 52 weeks	+3.7%
Against cash	2.5 points behind
Cost and size
Measure	CBLS	TLT
Expense ratio	1.89%	0.15%
Net assets, CBLS as of Jul 31, 2026 and TLT as of Nov 3, 2026	$56m	$48.3bn
Holdings
Measure	CBLS	TLT
Holdings in common	not published
Risk
Measure	CBLS	TLT
Correlation with the S&P 500’s weekly returns	+0.59
Beta to the S&P 500	+0.97: about 0.97% for each 1%
Its average week when the S&P 500 fell	fell 1.61%
Down-week capture	150.0%
Weeks the S&P 500 fell	26 of 52, by 1.07% on average

Method

Side by side

CBLS Clough Hedged Equity ETF TLT iShares 20+ Year Treasury Bond ETF

Where it sits Alternatives ETF Bond ETF

Issuer Clough iShares

What it is Long-short equity Tracks an index of 20+ year Treasuries

Total return, 1 year +1.2% −4.8%

Its benchmark over the same days not measured −4.7% (BBLB)

Gap to its benchmark not measured −0.1 pts vs BBLB

Expense ratio 1.89% 0.15%

Holdings not read by ETFIQ 47

Net assets, CBLS as of Jul 31, 2026 and TLT as of Nov 3, 2026 $56m $48.3bn

CBLS and TLT on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.

Alert

About each fund

CBLS

CBLS is a long-short equity fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.59 with the S&P 500’s and a beta of +0.97, so for each 1% the index moved it moved about 0.97% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks CBLS fell 1.61% on average, a down-week capture of 150.0%. Over the same 52 weeks CBLS returned +1.1% and a Treasury bill fund +3.7%, so it finished 2.5 percentage points behind cash.

TLT

TLT tracks an index of 20+ year Treasuries. Over the year to Nov 4, 2026 it returned −4.8% with distributions reinvested, against −4.7% for its benchmark, the ICE U.S. Treasury 20+ Year Bond Index. The prospectus expense ratio is 0.15% a year. It sat 41.8% below its high of Aug 4, 2020 on Nov 4, 2026.

Questions people ask

Are CBLS and TLT in the same category?: CBLS is an alternatives ETF and TLT is a bond ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, CBLS or TLT?: In the year to Nov 4, 2026, with distributions reinvested, CBLS returned +1.2% and TLT −4.8%.
Which is cheaper, CBLS or TLT?: TLT is cheaper, by 1.74 percentage points a year. That is about $174 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

AGG vs CBLS BND vs CBLS CBLS vs GLD CBLS vs QQQ EHLS vs TLT FFLS vs TLT HFEQ vs TLT LSEQ vs TLT

Where to next

BIL, the T-bill fund these are measured against →SPY, the S&P 500 fund these are measured against →CBLS on its own →TLT on its own →Hold both: look the portfolio through →Rankings →CBLS dividend history →TLT dividend history →TLT holdings →Standards and sources →

Sources and dates

CBLS filings on SEC EDGAR ↗

CBLS prospectus with the expense ratio (SEC) ↗

Clough website ↗

TLT filings on SEC EDGAR ↗

TLT prospectus with the expense ratio (SEC) ↗

iShares page for TLT ↗

Links are sources, not endorsements. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, CBLS against TLT, data as of Nov 4, 2026. https://etfiq.com/compare/any/cbls-vs-tlt

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