CLSE vs SPY
CLSE vs SPY
Convergence Long/Short Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. CLSE delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | CLSE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.52% | 0.09% | |
| AUM | $803M | $789.1B | |
| Dividend Yield | 0.76% | 1.01% | |
| Holdings | 357 | 505 | |
| YTD Return | +23.71% | +13.28% | |
| 1Y Return | +43.30% | +23.94% | |
| 3Y Return (annualized) | +29.88% | +21.07% | |
| 5Y Return (annualized) | - | +13.27% | |
| Volatility (annualized) | 12.4% | 15.3% | |
| Max Drawdown | -16.4% | -56.5% | |
| Fund Family | Convergence Investment Partners | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 29, 2009 | Jan 22, 1993 |
CLSE vs SPY Performance
Convergence Long/Short Equity ETF (CLSE) is a ETF from Convergence Investment Partners and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CLSE returned +43.30% while SPY returned +23.94%. Year to date, CLSE is up 23.71% versus a gain of 13.28% for SPY.
Over three years, CLSE compounded at +29.88% per year against +21.07% for SPY. Across the full 4-year window we track, CLSE has the edge at +20.85% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.4% for CLSE. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -16.4% for CLSE and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CLSE charges 1.52% per year while SPY charges 0.09%. On a $10,000 position that is $152 vs $9 annually, a gap of $143 per year that compounds over a long holding period. On income, CLSE currently yields 0.76% against 1.01% for SPY.
Holdings Overlap
CLSE and SPY share 178 holdings out of 694 unique holdings combined, representing a 33.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in CLSE | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 4.91% | 7.31% | 2.40% |
| AAPL | 0.33% | 7.09% | 6.76% |
| AMZN | 2.44% | 3.69% | 1.25% |
| GOOGL | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| MSFT | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| AMD | Pro | Pro | Pro |
See all 10 holdings CLSE shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, CLSE or SPY?
CLSE has an expense ratio of 1.52% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $143 per year of difference.
Which performed better, CLSE or SPY?
Over the past year CLSE returned +43.30% vs +23.94% for SPY, so CLSE leads on 1-year performance. Over the longest common window we track (4 years), CLSE annualized +20.85% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, CLSE or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.4% for CLSE. Worst drawdown: CLSE -16.4% vs SPY -56.5%.
Should I hold both CLSE and SPY?
CLSE and SPY have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CLSE and SPY?
CLSE and SPY share 178 common holdings with a 33.1% weight overlap. Combined, they hold 694 unique securities.
Which pays a higher dividend, CLSE or SPY?
CLSE yields 0.76% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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