ASMF vs. PCLO

Last updated Apr 1, 2026

Compare and contrast key facts about Virtus AlphaSimplex Managed Futures ETF (ASMF) and Virtus SEIX AAA Private Credit CLO ETF (PCLO).

ASMF and PCLO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ASMF is an actively managed fund by Virtus. It was launched on May 15, 2024. PCLO is an actively managed fund by Virtus. It was launched on Dec 2, 2024.

Performance

ASMF vs. PCLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus AlphaSimplex Managed Futures ETF (ASMF) and Virtus SEIX AAA Private Credit CLO ETF (PCLO). The values are adjusted to include any dividend payments, if applicable.

ASMF vs. PCLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ASMF Virtus AlphaSimplex Managed Futures ETF	5.61%	1.16%	1.05%
PCLO Virtus SEIX AAA Private Credit CLO ETF	0.79%	5.39%	0.50%

Returns By Period

In the year-to-date period, ASMF achieves a 5.61% return, which is significantly higher than PCLO's 0.79% return.

ASMF

• 1D: 0.95%
• 1M: -4.12%
• YTD: 5.61%
• 6M: 9.20%
• 1Y: 9.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PCLO

• 1D: -0.16%
• 1M: 0.02%
• YTD: 0.79%
• 6M: 2.24%
• 1Y: 5.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ASMF vs. PCLO - Expense Ratio Comparison

ASMF has a 0.80% expense ratio, which is higher than PCLO's 0.29% expense ratio.

ASMF

Virtus AlphaSimplex Managed Futures ETF

PCLO

Virtus SEIX AAA Private Credit CLO ETF

Return for Risk

ASMF vs. PCLO — Risk / Return Rank

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

ASMF

ASMF Risk / Return Rank: 44
ASMF Sharpe Ratio Rank: 41
ASMF Sortino Ratio Rank: 39
ASMF Omega Ratio Rank: 36
ASMF Calmar Ratio Rank: 65
ASMF Martin Ratio Rank: 40

PCLO

PCLO Risk / Return Rank: 99
PCLO Sharpe Ratio Rank: 98
PCLO Sortino Ratio Rank: 99
PCLO Omega Ratio Rank: 99
PCLO Calmar Ratio Rank: 98
PCLO 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.

ASMF vs. PCLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus AlphaSimplex Managed Futures ETF (ASMF) and Virtus SEIX AAA Private Credit CLO ETF (PCLO). 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.

	ASMF	PCLO	Difference
Sharpe ratio Return per unit of total volatility	0.79	4.09	-3.30
Sortino ratio Return per unit of downside risk	1.14	6.31	-5.17
Omega ratio Gain probability vs. loss probability	1.15	2.17	-1.02
Calmar ratio Return relative to maximum drawdown	1.70	6.94	-5.24
Martin ratio Return relative to average drawdown	3.75	58.92	-55.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASMF vs. PCLO - Sharpe Ratio Comparison

The current ASMF Sharpe Ratio is 0.79, which is lower than the PCLO Sharpe Ratio of 4.09. The chart below compares the historical Sharpe Ratios of ASMF and PCLO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ASMF	PCLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	4.09	-3.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	4.31	-4.16

Correlation

The correlation between ASMF and PCLO is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ASMF vs. PCLO - Dividend Comparison

ASMF's dividend yield for the trailing twelve months is around 0.20%, less than PCLO's 5.41% yield.

	TTM	2025	2024
ASMF Virtus AlphaSimplex Managed Futures ETF	0.20%	0.22%	1.66%
PCLO Virtus SEIX AAA Private Credit CLO ETF	5.41%	5.53%	0.44%

Drawdowns

ASMF vs. PCLO - Drawdown Comparison

The maximum ASMF drawdown since its inception was -15.31%, which is greater than PCLO's maximum drawdown of -0.76%. Use the drawdown chart below to compare losses from any high point for ASMF and PCLO.

Drawdown Indicators

	ASMF	PCLO	Difference
Max Drawdown Largest peak-to-trough decline	-15.31%	-0.76%	-14.55%
Max Drawdown (1Y) Largest decline over 1 year	-5.31%	-0.76%	-4.55%
Current Drawdown Current decline from peak	-4.12%	-0.26%	-3.86%
Average Drawdown Average peak-to-trough decline	-8.10%	-0.03%	-8.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	0.09%	+2.45%

Volatility

ASMF vs. PCLO - Volatility Comparison

Virtus AlphaSimplex Managed Futures ETF (ASMF) has a higher volatility of 4.65% compared to Virtus SEIX AAA Private Credit CLO ETF (PCLO) at 0.44%. This indicates that ASMF's price experiences larger fluctuations and is considered to be riskier than PCLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASMF	PCLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	0.44%	+4.21%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	0.67%	+9.23%
Volatility (1Y) Calculated over the trailing 1-year period	11.80%	1.28%	+10.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.21%	1.19%	+10.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.21%	1.19%	+10.02%