A driven sheave and variable torque limiting clutch assembly for a CVT that includes a drive sheave, a driven sheave, a VTL clutch and a hydraulic system is provided. The driven sheave is operationally coupled to a drive sheave via belt of the CVT. The driven sheave includes a fixed sheave member and a movable sheave member. The driven sheave is operationally coupled to a drivetrain. The VTL clutch is coupled between the driven sheave and the drivetrain to selectively couple torque between the driven sheave and the drivetrain. The hydraulic system is configured to manipulate both the movable sheave member of the driven sheave and the VTL clutch with shared hydraulic pressure.