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BBBIX vs. CLOA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BBBIX vs. CLOA

Last updated Jun 23, 2026

BBBIX (BBH Limited Duration Fund) and CLOA (iShares AAA CLO Active ETF) are both funds - BBBIX is a Ultrashort Bond fund managed by BBH, while CLOA is a CLO fund actively managed by BlackRock. Over the past 3 years, BBBIX returned 6.24%/yr vs 6.62%/yr for CLOA. At a 0.07 correlation, their price movements are largely independent. BBBIX charges 0.27%/yr vs 0.20%/yr for CLOA.

Performance

BBBIX vs. CLOA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BBH Limited Duration Fund (BBBIX) and iShares AAA CLO Active ETF (CLOA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BBBIX achieves a 1.35% return, which is significantly lower than CLOA's 2.27% return.

BBBIX

1D
0.10%
1M
0.35%
YTD
1.35%
6M
1.77%
1Y
4.70%
3Y*
6.24%
5Y*
3.98%
10Y*
3.44%

CLOA

1D
0.09%
1M
0.26%
YTD
2.27%
6M
2.47%
1Y
5.23%
3Y*
6.62%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BBBIX vs. CLOA - Yearly Performance Comparison

2026 (YTD)202520242023
BBBIX
BBH Limited Duration Fund		1.35%5.62%6.79%7.09%
CLOA
iShares AAA CLO Active ETF		2.27%5.44%7.25%8.38%

Correlation

The correlation between BBBIX 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

0.08

Correlation (All Time)
Calculated using the full available price history since Jan 12, 2023

0.07

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

BBH Limited Duration Fund

iShares AAA CLO Active ETF

Often compared with BBBIX:
BBBIX vs. FJTDXBBBIX vs. TFLRBBBIX vs. VNLABBBIX vs. FCNVXBBBIX vs. VMFXXBBBIX vs. NEARBBBIX vs. FLRN
Often compared with CLOA:
CLOA vs. CLOICLOA vs. PAAACLOA vs. AAACLOA vs. ICLOCLOA vs. JBBBCLOA vs. CLOXCLOA vs. JAAA

Return for Risk

BBBIX vs. CLOA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BBBIX
BBBIX Risk / Return Rank: 9797
Overall Rank
BBBIX Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
BBBIX Sortino Ratio Rank: 9999
Sortino Ratio Rank
BBBIX Omega Ratio Rank: 9898
Omega Ratio Rank
BBBIX Calmar Ratio Rank: 9898
Calmar Ratio Rank
BBBIX Martin Ratio Rank: 9898
Martin Ratio Rank
CLOA
CLOA Risk / Return Rank: 9999
Overall Rank
CLOA Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
CLOA Sortino Ratio Rank: 9999
Sortino Ratio Rank
CLOA Omega Ratio Rank: 9999
Omega Ratio Rank
CLOA Calmar Ratio Rank: 9999
Calmar Ratio Rank
CLOA Martin Ratio Rank: 9999
Martin Ratio Rank
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.

BBBIX vs. CLOA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BBH Limited Duration Fund (BBBIX) 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.

BBBIXCLOADifference
Sharpe ratioReturn per unit of total volatility
2.98
7.58

-4.61

Sortino ratioReturn per unit of downside risk
7.64
14.27

-6.63

Omega ratioGain probability vs. loss probability

2.27

3.43

-1.15

Calmar ratioReturn relative to maximum drawdown

8.24

29.72

-21.49

Martin ratioReturn relative to average drawdown

34.42

151.56

-117.14

BBBIX vs. CLOA - Sharpe Ratio Comparison

The current BBBIX Sharpe Ratio is 2.98, which is lower than the CLOA Sharpe Ratio of 7.58. The chart below compares the historical Sharpe Ratios of BBBIX 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.

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Drawdowns

BBBIX vs. CLOA - Drawdown Comparison

The maximum BBBIX drawdown since its inception was -6.60%, which is greater than CLOA's maximum drawdown of -1.34%. Use the drawdown chart below to compare losses from any high point for BBBIX and CLOA.

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Drawdown Indicators

BBBIXCLOADifference

Max Drawdown

Largest peak-to-trough decline

-6.60%

-1.34%

-5.26%

Max Drawdown (1Y)

Largest decline over 1 year

-0.57%

-0.18%

-0.39%

Max Drawdown (3Y)

Largest decline over 3 years

-0.57%

-1.13%

+0.56%

Max Drawdown (5Y)

Largest decline over 5 years

-3.16%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-6.60%

—

—

Current Drawdown

Current decline from peak

-0.10%

0.00%

-0.10%

Average Drawdown

Average peak-to-trough decline

-0.46%

-0.05%

-0.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.14%

0.03%

+0.11%

Volatility

BBBIX vs. CLOA - Volatility Comparison

BBH Limited Duration Fund (BBBIX) has a higher volatility of 0.47% compared to iShares AAA CLO Active ETF (CLOA) at 0.15%. This indicates that BBBIX'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

BBBIXCLOADifference

Volatility (1M)

Calculated over the trailing 1-month period

0.47%

0.15%

+0.32%

Volatility (6M)

Calculated over the trailing 6-month period

1.06%

0.49%

+0.57%

Volatility (1Y)

Calculated over the trailing 1-year period

1.58%

0.69%

+0.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.55%

1.31%

+0.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.47%

1.31%

+0.16%

BBBIX vs. CLOA - Expense Ratio Comparison

BBBIX has a 0.27% expense ratio, which is higher than CLOA's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BBBIX vs. CLOA - Dividend Comparison

BBBIX's dividend yield for the trailing twelve months is around 4.60%, less than CLOA's 4.95% yield.

PositionTTM20252024202320222021202020192018201720162015
BBBIX
BBH Limited Duration Fund		4.60%4.68%4.88%4.31%1.84%1.35%2.09%3.01%2.66%2.09%2.23%2.08%
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

BBBIX 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.

BBBIX has higher volatility (0.47%) compared to CLOA (0.15%). In terms of maximum drawdown, BBBIX dropped -6.60% vs CLOA's -1.34%.

CLOA currently has the higher Sharpe Ratio (7.58 vs 2.98), 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.

Portfolio Optimizer

Find the right allocation for BBBIX and CLOA

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