AGRH vs. CLOZ
AGRH (iShares Interest Rate Hedged U.S. Aggregate Bond ETF) and CLOZ (Panagram Bbb-B Clo ETF) are both exchange-traded funds - AGRH is a Ultrashort Bond fund tracking the BlackRock Interest Rate Hedged U.S. Aggregate Bond Index - Benchmark TR Gross, while CLOZ is a CLO fund actively managed by Panagram. AGRH is passively managed, while CLOZ is actively managed. Over the past 3 years, AGRH returned 5.97%/yr vs 10.62%/yr for CLOZ. At a 0.06 correlation, their price movements are largely independent. AGRH charges 0.13%/yr vs 0.50%/yr for CLOZ.
Performance
AGRH vs. CLOZ - Performance Comparison
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Returns By Period
In the year-to-date period, AGRH achieves a 1.78% return, which is significantly lower than CLOZ's 2.53% return.
AGRH
- 1D
- -0.04%
- 1M
- 0.73%
- YTD
- 1.78%
- 6M
- 2.44%
- 1Y
- 6.30%
- 3Y*
- 5.97%
- 5Y*
- —
- 10Y*
- —
CLOZ
- 1D
- -0.02%
- 1M
- 0.66%
- YTD
- 2.53%
- 6M
- 3.13%
- 1Y
- 6.21%
- 3Y*
- 10.62%
- 5Y*
- —
- 10Y*
- —
AGRH vs. CLOZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AGRH iShares Interest Rate Hedged U.S. Aggregate Bond ETF | 1.78% | 6.00% | 5.93% | 5.46% |
CLOZ Panagram Bbb-B Clo ETF | 2.53% | 5.99% | 11.85% | 14.92% |
Correlation
The correlation between AGRH and CLOZ is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2023 | 0.06 |
The correlation between AGRH and CLOZ shifts across timeframes, from 0.06 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AGRH vs. CLOZ — Risk / Return Rank
AGRH
CLOZ
AGRH vs. CLOZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged U.S. Aggregate Bond ETF (AGRH) and Panagram Bbb-B Clo ETF (CLOZ). 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.
| AGRH | CLOZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.60 | ||
| Sortino ratioReturn per unit of downside risk | +5.36 | ||
| Omega ratioGain probability vs. loss probability | 2.12 | 1.46 | +0.66 |
| Calmar ratioReturn relative to maximum drawdown | 9.44 | 1.60 | +7.84 |
| Martin ratioReturn relative to average drawdown | 44.94 | 5.31 | +39.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AGRH | CLOZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.41 | 1.81 | +2.60 |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.13 | 2.77 | +0.36 |
Drawdowns
AGRH vs. CLOZ - Drawdown Comparison
The maximum AGRH drawdown since its inception was -1.73%, smaller than the maximum CLOZ drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for AGRH and CLOZ.
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Drawdown Indicators
| AGRH | CLOZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.73% | -5.32% | +3.59% |
Max Drawdown (1Y)Largest decline over 1 year | -0.67% | -3.90% | +3.23% |
Max Drawdown (3Y)Largest decline over 3 years | -1.73% | -5.32% | +3.59% |
Current DrawdownCurrent decline from peak | -0.07% | -0.12% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -0.38% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.14% | 1.17% | -1.03% |
Volatility
AGRH vs. CLOZ - Volatility Comparison
iShares Interest Rate Hedged U.S. Aggregate Bond ETF (AGRH) and Panagram Bbb-B Clo ETF (CLOZ) have volatilities of 0.43% and 0.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGRH | CLOZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 0.42% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.00% | 3.13% | -2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.44% | 3.45% | -2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.78% | 3.80% | -2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.78% | 3.80% | -2.02% |
AGRH vs. CLOZ - Expense Ratio Comparison
AGRH has a 0.13% expense ratio, which is lower than CLOZ's 0.50% expense ratio.
Dividends
AGRH vs. CLOZ - Dividend Comparison
AGRH's dividend yield for the trailing twelve months is around 4.18%, less than CLOZ's 7.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
AGRH iShares Interest Rate Hedged U.S. Aggregate Bond ETF | 4.18% | 4.63% | 5.17% | 4.69% | 1.24% |
CLOZ Panagram Bbb-B Clo ETF | 7.39% | 7.63% | 9.09% | 8.81% | 0.00% |
Frequently Asked Questions
AGRH and CLOZ have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGRH has higher volatility (0.43%) compared to CLOZ (0.42%). In terms of maximum drawdown, AGRH dropped -1.73% vs CLOZ's -5.32%.
On 3-year performance, CLOZ leads with 10.62% vs 5.97% for AGRH. On fees, AGRH is cheaper at 0.13% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CLOZ has performed better with a 10.62% return vs 5.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGRH is cheaper with a 0.13% expense ratio, compared with 0.50% for CLOZ.
CLOZ has the higher dividend yield at 7.39%, compared with 4.18% for AGRH.
AGRH is categorized as Ultrashort Bond, while CLOZ is CLO. They also come from different issuers: iShares and Panagram. Their fees differ too: 0.13% for AGRH and 0.50% for CLOZ.
AGRH currently has the higher Sharpe Ratio (4.41 vs 1.81), 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.
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