ARDC vs. CLOA
ARDC (Ares Dynamic Credit Allocation Fund, Inc.) is a stock, while CLOA (iShares AAA CLO Active ETF) is CLO fund actively managed by BlackRock. Over the past 3 years, ARDC returned 11.86%/yr vs 6.62%/yr for CLOA. At a 0.07 correlation, their price movements are largely independent.
Performance
ARDC vs. CLOA - Performance Comparison
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Returns By Period
In the year-to-date period, ARDC achieves a -0.83% return, which is significantly lower than CLOA's 2.26% return.
ARDC
- 1D
- -0.56%
- 1M
- -0.07%
- YTD
- -0.83%
- 6M
- -0.53%
- 1Y
- -2.00%
- 3Y*
- 11.86%
- 5Y*
- 4.57%
- 10Y*
- 8.40%
CLOA
- 1D
- -0.01%
- 1M
- 0.25%
- YTD
- 2.26%
- 6M
- 2.47%
- 1Y
- 5.22%
- 3Y*
- 6.62%
- 5Y*
- —
- 10Y*
- —
ARDC vs. CLOA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ARDC Ares Dynamic Credit Allocation Fund, Inc. | -0.83% | -3.10% | 21.05% | 26.15% |
CLOA iShares AAA CLO Active ETF | 2.26% | 5.44% | 7.25% | 8.38% |
Correlation
The correlation between ARDC and CLOA is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2023 | 0.07 |
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Return for Risk
ARDC vs. CLOA — Risk / Return Rank
ARDC
CLOA
ARDC vs. CLOA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ares Dynamic Credit Allocation Fund, Inc. (ARDC) and iShares AAA CLO Active 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ARDC | CLOA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.77 | ||
| Sortino ratioReturn per unit of downside risk | -14.47 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 3.41 | -2.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 29.67 | -29.80 |
| Martin ratioReturn relative to average drawdown | -0.26 | 151.25 | -151.51 |
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Drawdowns
ARDC vs. CLOA - Drawdown Comparison
The maximum ARDC drawdown since its inception was -45.40%, which is greater than CLOA's maximum drawdown of -1.34%. Use the drawdown chart below to compare losses from any high point for ARDC and CLOA.
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Drawdown Indicators
| ARDC | CLOA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.40% | -1.34% | -44.06% |
Max Drawdown (1Y)Largest decline over 1 year | -15.57% | -0.18% | -15.39% |
Max Drawdown (3Y)Largest decline over 3 years | -19.78% | -1.13% | -18.65% |
Max Drawdown (5Y)Largest decline over 5 years | -26.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.40% | — | — |
Current DrawdownCurrent decline from peak | -8.38% | -0.01% | -8.37% |
Average DrawdownAverage peak-to-trough decline | -6.65% | -0.05% | -6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.62% | 0.03% | +7.59% |
Volatility
ARDC vs. CLOA - Volatility Comparison
Ares Dynamic Credit Allocation Fund, Inc. (ARDC) has a higher volatility of 2.50% compared to iShares AAA CLO Active ETF (CLOA) at 0.15%. This indicates that ARDC's price experiences larger fluctuations and is considered to be riskier than CLOA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARDC | CLOA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 0.15% | +2.35% |
Volatility (6M)Calculated over the trailing 6-month period | 7.28% | 0.49% | +6.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.58% | 0.69% | +8.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.80% | 1.31% | +12.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.87% | 1.31% | +15.56% |
ARDC vs. CLOA - Expense Ratio Comparison
ARDC has a 0.00% expense ratio, which is lower than CLOA's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ARDC vs. CLOA - Dividend Comparison
ARDC's dividend yield for the trailing twelve months is around 10.79%, more than CLOA's 4.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARDC Ares Dynamic Credit Allocation Fund, Inc. | 10.79% | 10.19% | 9.33% | 9.85% | 10.31% | 7.16% | 8.40% | 8.40% | 9.35% | 7.58% | 8.45% | 10.51% |
CLOA iShares AAA CLO Active ETF | 4.95% | 5.35% | 6.01% | 5.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ARDC and CLOA have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ARDC has higher volatility (2.50%) compared to CLOA (0.15%). In terms of maximum drawdown, ARDC dropped -45.40% vs CLOA's -1.34%.
CLOA currently has the higher Sharpe Ratio (7.57 vs -0.21), 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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