Are CLSE and TLT in the same category?

CLSE 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, CLSE or TLT?

In the year to Nov 4, 2026, with distributions reinvested, CLSE returned +23.3% and TLT −4.8%.

Which is cheaper, CLSE or TLT?

TLT is cheaper, by 1.37 percentage points a year. That is about $137 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Across categories

CLSE vs TLT: Differences, Returns & Fees

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Over the year to Nov 4, 2026, CLSE returned +23.3% to TLT's −4.8%, and TLT charges 0.15% to CLSE's 1.52%.

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Net assets: $900m on Aug 31, 2026 for Convergence Long/Short Equity ETF, and $48.3bn on Nov 3, 2026 for iShares 20+ Year Treasury Bond ETF.

CLSE on its own →TLT on its own →

At a glance

+23.3%

CLSE total return, 1 year

−4.8%

TLT total return, 1 year

1.52%

CLSE expense ratio

0.15%

TLT expense ratio

Pair scorecard

TLT costs 1.37 points a year less; their one-year returns differ by 28.1 points.

CLSE vs TLT: Differences, Returns & Fees
Measure	CLSE	TLT
Return
Measure	CLSE	TLT
Total return, 1 year	+23.3%	−4.8%
Total return, 52 weeks	+22.1%
Drawdown
Measure	CLSE	TLT
Below its high		41.8%, high on Aug 4, 2020
Against its benchmark
Measure	CLSE	TLT
What it tracks	not published	ICE U.S. Treasury 20+ Year Bond Index
Treasury bills, 52 weeks	+3.7%
Against cash	18.4 points ahead
Cost and size
Measure	CLSE	TLT
Expense ratio	1.52%	0.15%
Net assets, CLSE as of Aug 31, 2026 and TLT as of Nov 3, 2026	$900m	$48.3bn
Holdings
Measure	CLSE	TLT
Holdings in common	not published
Risk
Measure	CLSE	TLT
Correlation with the S&P 500’s weekly returns	+0.73
Beta to the S&P 500	+0.75: about 0.75% for each 1%
Its average week when the S&P 500 fell	fell 0.63%
Down-week capture	59.1%
Weeks the S&P 500 fell	26 of 52, by 1.07% on average

Method

Side by side

CLSE Convergence Long/Short Equity ETF TLT iShares 20+ Year Treasury Bond ETF

Where it sits Alternatives ETF Bond ETF

Issuer Convergence iShares

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

Total return, 1 year +23.3% −4.8%

Its benchmark over the same days +14.8% (IWV) −4.7% (BBLB)

Gap to its benchmark +8.5 pts vs IWV −0.1 pts vs BBLB

Expense ratio 1.52% 0.15%

Holdings not read by ETFIQ 47

Net assets, CLSE as of Aug 31, 2026 and TLT as of Nov 3, 2026 $900m $48.3bn

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

Alert

About each fund

CLSE

CLSE 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 +0.73 with the S&P 500’s and a beta of +0.75, so for each 1% the index moved it moved about 0.75% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks CLSE fell 0.63% on average, a down-week capture of 59.1%. Over the same 52 weeks CLSE returned +22.1% and a Treasury bill fund +3.7%, so it finished 18.4 percentage points ahead of 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 CLSE and TLT in the same category?: CLSE 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, CLSE or TLT?: In the year to Nov 4, 2026, with distributions reinvested, CLSE returned +23.3% and TLT −4.8%.
Which is cheaper, CLSE or TLT?: TLT is cheaper, by 1.37 percentage points a year. That is about $137 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

AGG vs CLSE BND vs CLSE CLSE vs GLD CLSE vs QQQ CSM vs TLT ORR vs TLT FTLS vs TLT EHLS vs TLT

Where to next

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

Sources and dates

CLSE filings on SEC EDGAR ↗

CLSE prospectus with the expense ratio (SEC) ↗

Convergence 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, CLSE against TLT, data as of Nov 4, 2026. https://etfiq.com/compare/any/clse-vs-tlt

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