CLSC — Cabana Target Leading Sector Conservative ETF
Data updated: 2023-12-20
CLSC — Cabana Target Leading Sector Conservative ETF. Capital Appreciation / Growth Allocation · $26.99M AUM. Holdings, fees, performance and SEC filings.
CLSC Fund Overview
CLSC — Cabana Target Leading Sector Conservative ETF is a US ETF managed by Exchange Listed Funds Trust, categorised as Capital Appreciation / Growth Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Exchange Listed Funds Trust
- Category: Capital Appreciation / Growth Allocation
- Assets under management: $26.99M
- 1-year return: -2.4%
- Ticker: CLSC
- SEC CIK: 0001547950
- SEC series ID: S000072147
- Share class ID: C000227937
CLSC Investment Objective and Strategy
Cabana Target Leading Sector Conservative ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Exchange Listed Funds Trust.
Investment objective
The Cabana Target Leading Sector Conservative ETF (the Fund) seeks to provide long-term growth.
Principal investment strategy
The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective primarily by allocating its assets among ETFs that invest in securities of companies in the various sectors of the U.S. market: communication services, consumer discretionary, consumer staples, energy, financials, health care, industrials, information technology, materials, real estate, and utilities. The Funds sub-adviser, Cabana Asset Management (the Sub-Adviser), selects investments in sectors of the market it identifies as attractive pursuant to an asset allocation strategy designed to optimize performance while seeking to manage portfolio volatility and reduce exposure to down markets. The Fund operates in a manner that is commonly referred to as a fund of funds, meaning that it primarily invests in other ETFs.
The ETFs may invest in any of the five major asset classes equities, fixed income, real estate, currencies, and commodities. The ETFs may invest in a broad range of securities including equity securities of any market capitalization and fixed income securities of any duration, maturity, and quality (including high yield or non-investment grade securities, commonly referred to as junk bonds, and U.S. government securities). The ETFs may invest in securities of U.S. and foreign issuers, including emerging markets issuers. In addition, the Fund may invest directly in securities and other instruments to obtain the desired exposure to a specific sector. To implement its strategy, the Sub-Adviser utilizes its Cyclical Asset Reallocation Algorithm (CARA), a proprietary algorithm developed by the Sub-Adviser that monitors market conditions to identify sectors that are particularly attractive at any given time in the business cycle.
CARA incorporates various fundamental economic and technical price data, including public information concerning the yield curve ( i.e. , the spread between short- and long-term interest rates), earnings of a broad spectrum of companies in the U.S. equity market, and equity price trends. CARA also uses this information to identify significant market deteriorations and provide corresponding signals, when appropriate, to move to a more conservative allocation (e.g., short term treasuries). The Sub-Adviser, through CARA, monitors the Funds investments daily and allocates or reallocates the Funds assets across sectors as well as across less-correlated and inversely-correlated asset classes in an effort to reduce exposure to potential market declines. In allocating the Funds assets, the Sub-Adviser expects to utilize a conservative investment style, meaning that the Sub-Adviser will optimize the portfolio to target minimum volatility in down markets while seeking growth in up markets through allocation to sectors that are believed to outperform at various points within the economic cycle.
The Sub-Advisers use of less-correlated and inversely-correlated asset classes is intended to manage the Funds volatility consistent with this investment style. Although the Sub-Adviser anticipates that it will purchase or sell securities based on the signals provided by CARA, the Sub-Adviser maintains full decision-making power and may override CARA if it determines that a breakdown or systemic change has occurred in the methods for which capital is deployed within the worldwide economic system or if it believes that CARA does not signal appropriate changes to risk assets as the economic cycle evolves. The Sub-Adviser expects the Fund, during normal market conditions, to be fully invested at all times. The Fund is classified as a non-diversified investment company under the Investment Company Act of 1940 (the 1940 Act) and, therefore, may invest a greater percentage of its assets in a particular issuer than a diversified fund.
CLSC Performance
Total returns for CLSC (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -2.4% |
| 3 years (annualised) | -8.5% |
CLSC Risk Information
Risk metrics for CLSC, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 7.7%
CLSC Costs and Fees
CLSC costs about $85 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.85%
- Gross expense ratio: 0.96%
- Portfolio turnover: 872%
- Brokerage commissions: 0.16 bps of average net assets (SEC N-CEN)
CLSC Cashflows
Over the 12 months to 2023-10, Cabana Target Leading Sector Conservative ETF had net inflows of $523.00M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-10 | $1.92M |
| 2023-09 | $956.98K |
| 2023-08 | $3.86M |
| 2023-07 | $3.92M |
| 2023-06 | $4.86M |
| 2023-05 | $964.35K |
CLSC Debt Constituents
No individual debt constituents are reported in Cabana Target Leading Sector Conservative ETF's latest SEC N-PORT filing.
CLSC Prospectus and SEC Filings
Official Cabana Target Leading Sector Conservative ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-08-29
- Prospectus supplement (497) — filed 2022-09-08
- Prospectus supplement (497) — filed 2021-07-21
- Portfolio holdings (N-PORT) — filed 2023-12-20
- Portfolio holdings (N-PORT) — filed 2023-09-25
- Portfolio holdings (N-PORT) — filed 2023-06-22
- Annual census (N-CEN) — filed 2023-07-11
- Annual census (N-CEN) — filed 2022-07-05
Related Funds
Other Capital Appreciation / Growth Allocation funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.