CLSE

Convergence Long/Short Equity ETF

$26.65

+0.00%

Market closed. Last update: 10:53 PM ET

📎 Investment Objective

The Convergence Long/Short Equity ETF (CLSE) seeks to provide investment results that, before fees and expenses, correspond to the inverse (opposite) of the performance of the S&P 500 Index.

Overview

ETF tracking Convergence Long/Short Equity ETF

Category Inverse

Issuer Other

Inception Date 2022-02-22

Market Cap $222.7M

Average Volume N/A

Dividend Yield 0.80%

52-Week Range $20.12 - $27.30

VWAP $26.71

Performance

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Investment Summary

📎 Investment Objective

The Convergence Long/Short Equity ETF (CLSE) seeks to provide investment results that, before fees and expenses, correspond to the inverse (opposite) of the performance of the S&P 500 Index.

🎯 Investment Strategy

The fund uses a combination of long and short positions in an attempt to generate positive returns in declining equity markets. The portfolio managers use quantitative models and fundamental analysis to identify securities they believe are overvalued (short positions) and undervalued (long positions).

✨ Key Features

Inverse exposure to the S&P 500 Index, meaning the fund aims to generate positive returns when the broader market declines
Utilizes both long and short positions to potentially profit from both rising and falling markets
Actively managed strategy that aims to outperform the inverse performance of the S&P 500 Index
Low expense ratio of 0.00%

⚠️ Primary Risks

Inverse performance risk: The fund's inverse exposure means it will generally decline in value when the underlying index rises, and vice versa
Leverage risk: The use of short positions and other leveraged strategies can magnify both gains and losses
Liquidity risk: As a relatively new and small ETF, CLSE may have lower trading volume and liquidity compared to larger, more established funds
Manager risk: The fund's performance depends on the skill of the portfolio managers in executing the long/short strategy

👤 Best For

CLSE may be suitable for experienced, risk-tolerant investors seeking to hedge against or profit from declines in the broader equity market. However, the fund's inverse and leveraged nature makes it a high-risk, speculative investment that is not appropriate for most retail investors, especially those with a low risk tolerance or a long-term investment horizon.