BBN vs. CLOZ
BBN (BlackRock Taxable Municipal Bond Trust) and CLOZ (Eldridge BBB-B CLO ETF) are both funds - BBN is a Municipal Bonds fund actively managed by BlackRock, while CLOZ is a CLO fund actively managed by Eldridge. Both are actively managed. Over the past 3 years, BBN returned 6.26%/yr vs 9.07%/yr for CLOZ. Their -0.01 correlation means they have often moved in opposite directions in the past. BBN charges 2.32%/yr vs 0.50%/yr for CLOZ.
Performance
BBN vs. CLOZ - Performance Comparison
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Returns By Period
In the year-to-date period, BBN achieves a 1.17% return, which is significantly lower than CLOZ's 3.25% return.
BBN
- 1D
- 0.13%
- 1M
- -0.63%
- 6M
- 0.68%
- YTD
- 1.17%
- 1Y
- 3.63%
- 3Y*
- 6.26%
- 5Y*
- -3.17%
- 10Y*
- 2.41%
- ALL TIME*
- 5.57%
CLOZ
- 1D
- -0.02%
- 1M
- 0.23%
- 6M
- 2.09%
- YTD
- 3.25%
- 1Y
- 6.00%
- 3Y*
- 9.07%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.58M | $1.64M | $2.52M | |
| $8.19M | $11.37M | $8.55M |
BBN vs. CLOZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BBN BlackRock Taxable Municipal Bond Trust | 1.17% | 8.59% | 6.01% | -2.92% |
CLOZ Eldridge BBB-B CLO ETF | 3.25% | 5.99% | 11.85% | 14.99% |
Correlation
The correlation between BBN and CLOZ is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.06 |
Correlation (3Y) Balances recent behavior with more history. | -0.00 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2023 | -0.01 |
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Return for Risk
BBN vs. CLOZ — Risk / Return Rank
BBN
CLOZ
BBN vs. CLOZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Taxable Municipal Bond Trust (BBN) and Eldridge 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.
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.
| BBN | CLOZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.41 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | 1.50 | -0.83 |
| Martin ratioReturn relative to average drawdown | 1.40 | 4.99 | -3.59 |
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Drawdowns
BBN vs. CLOZ - Drawdown Comparison
The maximum BBN drawdown since its inception was -38.37%, which is greater than CLOZ's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for BBN and CLOZ.
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Drawdown Indicators
| BBN | CLOZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.37% | -5.32% | -33.05% |
Max Drawdown (1Y)Largest decline over 1 year | -7.55% | -3.90% | -3.65% |
Max Drawdown (3Y)Largest decline over 3 years | -11.85% | -5.32% | -6.53% |
Max Drawdown (5Y)Largest decline over 5 years | -38.37% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.37% | — | — |
Current DrawdownCurrent decline from peak | -18.15% | -0.02% | -18.13% |
Average DrawdownAverage peak-to-trough decline | -10.39% | -0.37% | -10.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 1.17% | +2.45% |
Volatility
BBN vs. CLOZ - Volatility Comparison
BlackRock Taxable Municipal Bond Trust (BBN) has a higher volatility of 1.79% compared to Eldridge BBB-B CLO ETF (CLOZ) at 0.69%. This indicates that BBN's price experiences larger fluctuations and is considered to be riskier than CLOZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBN | CLOZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 0.69% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 6.42% | 3.20% | +3.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.04% | 3.50% | +5.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.43% | 3.75% | +11.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.03% | 3.75% | +11.28% |
BBN vs. CLOZ - Expense Ratio Comparison
BBN has a 2.32% expense ratio, which is higher than CLOZ's 0.50% expense ratio.
Dividends
BBN vs. CLOZ - Dividend Comparison
BBN's dividend yield for the trailing twelve months is around 7.48%, more than CLOZ's 7.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBN BlackRock Taxable Municipal Bond Trust | 7.48% | 7.01% | 6.92% | 7.16% | 7.91% | 5.45% | 5.05% | 5.66% | 7.09% | 6.82% | 7.32% | 7.54% |
CLOZ Eldridge BBB-B CLO ETF | 7.30% | 7.63% | 9.09% | 8.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BBN and CLOZ have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BBN has higher volatility (1.79%) compared to CLOZ (0.69%). In terms of maximum drawdown, BBN dropped -38.37% vs CLOZ's -5.32%.
CLOZ currently has the higher Sharpe Ratio (1.68 vs 0.56), 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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