BCLO vs. AAAC

Last updated Aug 2, 2026

BCLO (iShares BBB-B CLO Active ETF) and AAAC (Columbia AAA CLO ETF) are both CLO funds. BCLO is passively managed, while AAAC is actively managed. Their -0.01 correlation means they have often moved in opposite directions in the past. BCLO charges 0.45%/yr vs 0.20%/yr for AAAC.

Performance

BCLO vs. AAAC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares BBB-B CLO Active ETF (BCLO) and Columbia AAA CLO ETF (AAAC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCLO achieves a 3.10% return, which is significantly higher than AAAC's 2.81% return.

BCLO

• 1D: 0.09%
• 1M: 0.06%
• 6M: 2.26%
• YTD: 3.10%
• 1Y: 5.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.72%

AAAC

• 1D: 0.05%
• 1M: 0.35%
• 6M: 2.18%
• YTD: 2.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAAC Columbia AAA CLO ETF	$18.84K	$4.60M	$1.56M
BCLO iShares BBB-B CLO Active ETF	$627.81K	$426.45K	$315.81K

BCLO vs. AAAC - Yearly Performance Comparison

	2026 (YTD)	2025
BCLO iShares BBB-B CLO Active ETF	3.10%	0.33%
AAAC Columbia AAA CLO ETF	2.81%	0.15%

Correlation

The correlation between BCLO and AAAC is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	-0.01

Return for Risk

BCLO vs. AAAC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BCLO

BCLO Risk / Return Rank: 91
BCLO Sharpe Ratio Rank: 96
BCLO Sortino Ratio Rank: 96
BCLO Omega Ratio Rank: 97
BCLO Calmar Ratio Rank: 83
BCLO Martin Ratio Rank: 83

AAAC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BCLO vs. AAAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares BBB-B CLO Active ETF (BCLO) and Columbia AAA CLO ETF (AAAC). 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.

	BCLO	AAAC	Difference
Sharpe ratio: Return per unit of total volatility	2.89	—	—
Sortino ratio: Return per unit of downside risk	4.56	—	—
Omega ratio: Gain probability vs. loss probability	1.72	—	—
Calmar ratio: Return relative to maximum drawdown	3.06	—	—
Martin ratio: Return relative to average drawdown	11.27	—	—

Drawdowns

BCLO vs. AAAC - Drawdown Comparison

The maximum BCLO drawdown since its inception was -4.45%, which is greater than AAAC's maximum drawdown of -0.55%. Use the drawdown chart below to compare losses from any high point for BCLO and AAAC.

Drawdown Indicators

	BCLO	AAAC	Difference
Max Drawdown Largest peak-to-trough decline	-4.45%	-0.55%	-3.90%
Max Drawdown (1Y) Largest decline over 1 year	-1.92%	—	—
Current Drawdown Current decline from peak	-0.11%	0.00%	-0.11%
Average Drawdown Average peak-to-trough decline	-0.37%	-0.03%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	—	—

Volatility

Volatility by Period

	BCLO	AAAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.63%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.03%	0.82%	+1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.16%	0.82%	+3.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.16%	0.82%	+3.34%

BCLO vs. AAAC - Expense Ratio Comparison

BCLO has a 0.45% expense ratio, which is higher than AAAC's 0.20% expense ratio.

Dividends

BCLO vs. AAAC - Dividend Comparison

BCLO's dividend yield for the trailing twelve months is around 6.57%, more than AAAC's 2.65% yield.

Position	TTM	2025
AAAC Columbia AAA CLO ETF	2.65%	0.03%
BCLO iShares BBB-B CLO Active ETF	5.97%	6.45%

Frequently Asked Questions

Can I hold both BCLO and AAAC in my portfolio?

BCLO and AAAC have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BCLO or AAAC?

On fees, AAAC is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BCLO or AAAC?

AAAC is cheaper with a 0.20% expense ratio, compared with 0.45% for BCLO.

Which ETF pays a higher dividend yield, BCLO or AAAC?

BCLO has the higher dividend yield at 5.97%, compared with 2.65% for AAAC.

What is the main difference between BCLO and AAAC?

They also come from different issuers: iShares and Columbia. Their fees differ too: 0.45% for BCLO and 0.20% for AAAC.