BBJP vs. ACLO

Last updated Jun 24, 2026

BBJP (JPMorgan BetaBuilders Japan ETF) and ACLO (TCW AAA CLO ETF) are both exchange-traded funds - BBJP is a Japan Equities fund tracking the Morningstar Japan Target Market Exposure Index, while ACLO is a CLO fund actively managed by TCW. BBJP is passively managed, while ACLO is actively managed. Over the past year, BBJP returned 32.87% vs 5.27% for ACLO. At a correlation of -0.05, they often move in opposite directions. BBJP charges 0.19%/yr vs 0.20%/yr for ACLO.

Performance

BBJP vs. ACLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders Japan ETF (BBJP) and TCW AAA CLO ETF (ACLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBJP achieves a 13.64% return, which is significantly higher than ACLO's 2.44% return.

BBJP

• 1D: -4.15%
• 1M: 0.55%
• YTD: 13.64%
• 6M: 13.11%
• 1Y: 32.87%
• 3Y*: 18.20%
• 5Y*: 8.94%
• 10Y*: —

ACLO

• 1D: 0.03%
• 1M: 0.44%
• YTD: 2.44%
• 6M: 2.55%
• 1Y: 5.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BBJP vs. ACLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BBJP JPMorgan BetaBuilders Japan ETF	13.64%	26.55%	0.95%
ACLO TCW AAA CLO ETF	2.44%	5.32%	0.81%

Correlation

The correlation between BBJP and ACLO 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 (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (All Time) Calculated using the full available price history since Nov 18, 2024	-0.05

Return for Risk

BBJP vs. ACLO — Risk / Return Rank

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

BBJP

BBJP Risk / Return Rank: 50
BBJP Sharpe Ratio Rank: 49
BBJP Sortino Ratio Rank: 48
BBJP Omega Ratio Rank: 50
BBJP Calmar Ratio Rank: 51
BBJP Martin Ratio Rank: 50

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.

BBJP vs. ACLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Japan ETF (BBJP) and TCW AAA CLO ETF (ACLO). 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.

	BBJP	ACLO	Difference
Sharpe ratio: Return per unit of total volatility	1.62	7.28	-5.67
Sortino ratio: Return per unit of downside risk	2.29	15.06	-12.77
Omega ratio: Gain probability vs. loss probability	1.30	3.42	-2.12
Calmar ratio: Return relative to maximum drawdown	2.43	19.77	-17.34
Martin ratio: Return relative to average drawdown	8.09	164.39	-156.30

BBJP vs. ACLO - Sharpe Ratio Comparison

The current BBJP Sharpe Ratio is 1.62, which is lower than the ACLO Sharpe Ratio of 7.28. The chart below compares the historical Sharpe Ratios of BBJP and ACLO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBJP vs. ACLO - Drawdown Comparison

The maximum BBJP drawdown since its inception was -32.66%, which is greater than ACLO's maximum drawdown of -1.01%. Use the drawdown chart below to compare losses from any high point for BBJP and ACLO.

Drawdown Indicators

	BBJP	ACLO	Difference
Max Drawdown Largest peak-to-trough decline	-32.66%	-1.01%	-31.65%
Max Drawdown (1Y) Largest decline over 1 year	-13.60%	-0.27%	-13.33%
Max Drawdown (3Y) Largest decline over 3 years	-14.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.66%	—	—
Current Drawdown Current decline from peak	-4.15%	0.00%	-4.15%
Average Drawdown Average peak-to-trough decline	-8.48%	-0.04%	-8.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.07%	0.03%	+4.04%

Volatility

BBJP vs. ACLO - Volatility Comparison

JPMorgan BetaBuilders Japan ETF (BBJP) has a higher volatility of 7.47% compared to TCW AAA CLO ETF (ACLO) at 0.19%. This indicates that BBJP's price experiences larger fluctuations and is considered to be riskier than ACLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBJP	ACLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.47%	0.19%	+7.28%
Volatility (6M) Calculated over the trailing 6-month period	16.38%	0.58%	+15.80%
Volatility (1Y) Calculated over the trailing 1-year period	20.43%	0.73%	+19.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.37%	1.07%	+17.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.40%	1.07%	+17.33%

BBJP vs. ACLO - Expense Ratio Comparison

BBJP has a 0.19% expense ratio, which is lower than ACLO'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

BBJP vs. ACLO - Dividend Comparison

BBJP's dividend yield for the trailing twelve months is around 4.72%, less than ACLO's 4.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ACLO TCW AAA CLO ETF	4.90%	4.87%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BBJP JPMorgan BetaBuilders Japan ETF	4.72%	5.37%	2.80%	3.05%	1.52%	2.89%	1.12%	2.31%	0.65%

Frequently Asked Questions

Can I hold both BBJP and ACLO in my portfolio?

BBJP and ACLO 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 is riskier, BBJP or ACLO?

BBJP has higher volatility (7.47%) compared to ACLO (0.19%). In terms of maximum drawdown, BBJP dropped -32.66% vs ACLO's -1.01%.

Which ETF is better, BBJP or ACLO?

On 1-year performance, BBJP leads with 32.87% vs 5.27% for ACLO. On fees, BBJP is cheaper at 0.19% per year. On volatility, ACLO has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBJP or ACLO?

Over the 1-year period, BBJP has performed better with a 32.87% return vs 5.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBJP or ACLO?

BBJP is cheaper with a 0.19% expense ratio, compared with 0.20% for ACLO.

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

ACLO has the higher dividend yield at 4.90%, compared with 4.72% for BBJP.

What is the main difference between BBJP and ACLO?

BBJP is categorized as Japan Equities, while ACLO is CLO. They also come from different issuers: JPMorgan and TCW. Their fees differ too: 0.19% for BBJP and 0.20% for ACLO.

Which has better risk-adjusted returns?

ACLO currently has the higher Sharpe Ratio (7.28 vs 1.62), 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.