ACLO vs. CLOA

Last updated Jun 4, 2026

ACLO (TCW AAA CLO ETF) and CLOA (BlackRock AAA CLO ETF) are both CLO funds. Both are actively managed. Over the past year, ACLO returned 5.31% vs 5.28% for CLOA. At a 0.12 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.

Performance

ACLO vs. CLOA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW AAA CLO ETF (ACLO) and BlackRock AAA CLO ETF (CLOA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACLO achieves a 2.21% return, which is significantly higher than CLOA's 2.06% return.

ACLO

• 1D: 0.02%
• 1M: 0.42%
• YTD: 2.21%
• 6M: 2.58%
• 1Y: 5.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLOA

• 1D: 0.02%
• 1M: 0.44%
• YTD: 2.06%
• 6M: 2.51%
• 1Y: 5.28%
• 3Y*: 6.74%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ACLO vs. CLOA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ACLO TCW AAA CLO ETF	2.21%	5.32%	0.81%
CLOA BlackRock AAA CLO ETF	2.06%	5.44%	0.92%

Correlation

The correlation between ACLO and CLOA is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Nov 19, 2024	0.12

The correlation between ACLO and CLOA shifts across timeframes, from -0.02 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ACLO vs. CLOA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ACLO

ACLO Risk / Return Rank: 99
ACLO Sharpe Ratio Rank: 99
ACLO Sortino Ratio Rank: 99
ACLO Omega Ratio Rank: 99
ACLO Calmar Ratio Rank: 99
ACLO Martin Ratio Rank: 99

CLOA

CLOA Risk / Return Rank: 99
CLOA Sharpe Ratio Rank: 99
CLOA Sortino Ratio Rank: 99
CLOA Omega Ratio Rank: 99
CLOA Calmar Ratio Rank: 99
CLOA Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACLO vs. CLOA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW AAA CLO ETF (ACLO) and BlackRock AAA CLO ETF (CLOA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ACLO	CLOA	Difference
Sharpe ratio Return per unit of total volatility	7.29	7.45	-0.16
Sortino ratio Return per unit of downside risk	14.85	13.98	+0.87
Omega ratio Gain probability vs. loss probability	3.41	3.34	+0.06
Calmar ratio Return relative to maximum drawdown	19.90	30.02	-10.11
Martin ratio Return relative to average drawdown	164.37	150.47	+13.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ACLO vs. CLOA - Sharpe Ratio Comparison

The current ACLO Sharpe Ratio is 7.29, which is comparable to the CLOA Sharpe Ratio of 7.45. The chart below compares the historical Sharpe Ratios of ACLO and CLOA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ACLO	CLOA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.29	7.45	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	5.10	5.22	-0.12

Drawdowns

ACLO vs. CLOA - Drawdown Comparison

The maximum ACLO drawdown since its inception was -1.01%, smaller than the maximum CLOA drawdown of -1.34%. Use the drawdown chart below to compare losses from any high point for ACLO and CLOA.

Drawdown Indicators

	ACLO	CLOA	Difference
Max Drawdown Largest peak-to-trough decline	-1.01%	-1.34%	+0.33%
Max Drawdown (1Y) Largest decline over 1 year	-0.27%	-0.18%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.13%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.05%	-0.05%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	0.04%	-0.01%

Volatility

ACLO vs. CLOA - Volatility Comparison

The current volatility for TCW AAA CLO ETF (ACLO) is 0.14%, while BlackRock AAA CLO ETF (CLOA) has a volatility of 0.15%. This indicates that ACLO experiences smaller price fluctuations and is considered to be less risky than CLOA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACLO	CLOA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.14%	0.15%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	0.57%	0.48%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	0.73%	0.71%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.08%	1.32%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.08%	1.32%	-0.24%

ACLO vs. CLOA - Expense Ratio Comparison

Both ACLO and CLOA have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

ACLO vs. CLOA - Dividend Comparison

ACLO's dividend yield for the trailing twelve months is around 4.91%, less than CLOA's 4.96% yield.

Position	TTM	2025	2024	2023
ACLO TCW AAA CLO ETF	4.91%	4.87%	0.59%	0.00%
CLOA BlackRock AAA CLO ETF	4.96%	5.35%	6.01%	5.88%

Frequently Asked Questions

Can I hold both ACLO and CLOA in my portfolio?

ACLO and CLOA have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACLO or CLOA?

CLOA has higher volatility (0.15%) compared to ACLO (0.14%). In terms of maximum drawdown, ACLO dropped -1.01% vs CLOA's -1.34%.

Which ETF is better, ACLO or CLOA?

On 1-year performance, ACLO leads with 5.31% vs 5.28% for CLOA. Both ETFs have the same 0.20% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACLO or CLOA?

Over the 1-year period, ACLO has performed better with a 5.31% return vs 5.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACLO or CLOA?

ACLO and CLOA have the same expense ratio: 0.20% per year.

Which ETF pays a higher dividend yield, ACLO or CLOA?

CLOA has the higher dividend yield at 4.96%, compared with 4.91% for ACLO.

What is the main difference between ACLO and CLOA?

They also come from different issuers: TCW and BlackRock.

Which has better risk-adjusted returns?

CLOA currently has the higher Sharpe Ratio (7.45 vs 7.29), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.