ACLO vs. EVMO

Last updated Jun 4, 2026

ACLO (TCW AAA CLO ETF) and EVMO (Eaton Vance Mortgage Opportunities ETF) are both exchange-traded funds - ACLO is a CLO fund actively managed by TCW, while EVMO is a Mortgage Backed Securities fund actively managed by Eaton Vance. Both are actively managed. At a correlation of -0.15, they often move in opposite directions. ACLO charges 0.20%/yr vs 0.45%/yr for EVMO.

Performance

ACLO vs. EVMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW AAA CLO ETF (ACLO) and Eaton Vance Mortgage Opportunities ETF (EVMO). 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 EVMO's 0.73% return.

ACLO

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

EVMO

• 1D: -0.25%
• 1M: 0.14%
• YTD: 0.73%
• 6M: 0.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ACLO vs. EVMO - Yearly Performance Comparison

	2026 (YTD)	2025
ACLO TCW AAA CLO ETF	2.21%	2.03%
EVMO Eaton Vance Mortgage Opportunities ETF	0.73%	3.33%

Correlation

The correlation between ACLO and EVMO is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 5, 2025	-0.15

Return for Risk

ACLO vs. EVMO — 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

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. EVMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW AAA CLO ETF (ACLO) and Eaton Vance Mortgage Opportunities ETF (EVMO). 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	EVMO	Difference
Sharpe ratio Return per unit of total volatility	7.29	—	—
Sortino ratio Return per unit of downside risk	14.85	—	—
Omega ratio Gain probability vs. loss probability	3.41	—	—
Calmar ratio Return relative to maximum drawdown	19.90	—	—
Martin ratio Return relative to average drawdown	164.37	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ACLO	EVMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.29	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.10	1.76	+3.35

Drawdowns

ACLO vs. EVMO - Drawdown Comparison

The maximum ACLO drawdown since its inception was -1.01%, smaller than the maximum EVMO drawdown of -1.89%. Use the drawdown chart below to compare losses from any high point for ACLO and EVMO.

Drawdown Indicators

	ACLO	EVMO	Difference
Max Drawdown Largest peak-to-trough decline	-1.01%	-1.89%	+0.88%
Max Drawdown (1Y) Largest decline over 1 year	-0.27%	—	—
Current Drawdown Current decline from peak	0.00%	-0.91%	+0.91%
Average Drawdown Average peak-to-trough decline	-0.05%	-0.38%	+0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	—	—

Volatility

Volatility by Period

	ACLO	EVMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.14%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.73%	2.83%	-2.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.08%	2.83%	-1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.08%	2.83%	-1.75%

ACLO vs. EVMO - Expense Ratio Comparison

ACLO has a 0.20% expense ratio, which is lower than EVMO's 0.45% expense ratio.

Dividends

ACLO vs. EVMO - Dividend Comparison

ACLO's dividend yield for the trailing twelve months is around 4.91%, more than EVMO's 4.07% yield.

Position	TTM	2025	2024
ACLO TCW AAA CLO ETF	4.91%	4.87%	0.59%
EVMO Eaton Vance Mortgage Opportunities ETF	4.07%	1.95%	0.00%

Frequently Asked Questions

Can I hold both ACLO and EVMO in my portfolio?

ACLO and EVMO have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ACLO or EVMO?

On fees, ACLO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACLO or EVMO?

ACLO is cheaper with a 0.20% expense ratio, compared with 0.45% for EVMO.

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

ACLO has the higher dividend yield at 4.91%, compared with 4.07% for EVMO.

What is the main difference between ACLO and EVMO?

ACLO is categorized as CLO, while EVMO is Mortgage Backed Securities. They also come from different issuers: TCW and Eaton Vance. Their fees differ too: 0.20% for ACLO and 0.45% for EVMO.