BCLO vs. CVSB
BCLO (iShares BBB-B CLO Active ETF) and CVSB (Calvert Ultra-Short Investment Grade ETF) are both exchange-traded funds - BCLO is a CLO fund tracking the JP Morgan CLOIE High Quality Mezzanine Index, while CVSB is a Ultrashort Bond fund actively managed by Calvert. BCLO is passively managed, while CVSB is actively managed. Over the past year, BCLO returned 5.97% vs 4.25% for CVSB. Their -0.07 correlation means they have often moved in opposite directions in the past. BCLO charges 0.45%/yr vs 0.24%/yr for CVSB.
Performance
BCLO vs. CVSB - Performance Comparison
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Returns By Period
In the year-to-date period, BCLO achieves a 3.10% return, which is significantly higher than CVSB's 2.14% return.
BCLO
- 1D
- 0.09%
- 1M
- 0.06%
- 6M
- 2.26%
- YTD
- 3.10%
- 1Y
- 5.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.72%
CVSB
- 1D
- 0.01%
- 1M
- 0.36%
- 6M
- 1.74%
- YTD
- 2.14%
- 1Y
- 4.25%
- 3Y*
- 5.41%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $627.81K | $426.45K | $315.81K | |
| $1.01M | $2.16M | $1.65M |
BCLO vs. CVSB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BCLO iShares BBB-B CLO Active ETF | 3.10% | 5.41% |
CVSB Calvert Ultra-Short Investment Grade ETF | 2.14% | 4.66% |
Correlation
The correlation between BCLO and CVSB is -0.17, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | -0.07 |
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Return for Risk
BCLO vs. CVSB — Risk / Return Rank
BCLO
CVSB
BCLO vs. CVSB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares BBB-B CLO Active ETF (BCLO) and Calvert Ultra-Short Investment Grade ETF (CVSB). 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 | CVSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.43 | ||
| Sortino ratioReturn per unit of downside risk | -4.88 | ||
| Omega ratioGain probability vs. loss probability | 1.72 | 2.49 | -0.77 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 19.43 | -16.37 |
| Martin ratioReturn relative to average drawdown | 11.27 | 81.65 | -70.37 |
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Drawdowns
BCLO vs. CVSB - Drawdown Comparison
The maximum BCLO drawdown since its inception was -4.45%, which is greater than CVSB's maximum drawdown of -0.63%. Use the drawdown chart below to compare losses from any high point for BCLO and CVSB.
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Drawdown Indicators
| BCLO | CVSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.45% | -0.63% | -3.82% |
Max Drawdown (1Y)Largest decline over 1 year | -1.92% | -0.23% | -1.69% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.63% | — |
Current DrawdownCurrent decline from peak | -0.11% | -0.01% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -0.37% | -0.05% | -0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.05% | +0.47% |
Volatility
BCLO vs. CVSB - Volatility Comparison
iShares BBB-B CLO Active ETF (BCLO) has a higher volatility of 0.31% compared to Calvert Ultra-Short Investment Grade ETF (CVSB) at 0.20%. This indicates that BCLO's price experiences larger fluctuations and is considered to be riskier than CVSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCLO | CVSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.31% | 0.20% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 0.57% | +1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.03% | 0.83% | +1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.16% | 1.30% | +2.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.16% | 1.30% | +2.86% |
BCLO vs. CVSB - Expense Ratio Comparison
BCLO has a 0.45% expense ratio, which is higher than CVSB's 0.24% expense ratio.
Dividends
BCLO vs. CVSB - Dividend Comparison
BCLO's dividend yield for the trailing twelve months is around 6.57%, more than CVSB's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BCLO iShares BBB-B CLO Active ETF | 5.97% | 6.45% | 0.00% | 0.00% |
CVSB Calvert Ultra-Short Investment Grade ETF | 4.28% | 4.72% | 5.13% | 4.95% |
Frequently Asked Questions
BCLO and CVSB have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BCLO has higher volatility (0.31%) compared to CVSB (0.20%). In terms of maximum drawdown, BCLO dropped -4.45% vs CVSB's -0.63%.
On 1-year performance, BCLO leads with 5.97% vs 4.25% for CVSB. On fees, CVSB is cheaper at 0.24% per year. On volatility, CVSB has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BCLO has performed better with a 5.97% return vs 4.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CVSB is cheaper with a 0.24% expense ratio, compared with 0.45% for BCLO.
BCLO has the higher dividend yield at 5.97%, compared with 4.28% for CVSB.
BCLO is categorized as CLO, while CVSB is Ultrashort Bond. They also come from different issuers: iShares and Calvert. Their fees differ too: 0.45% for BCLO and 0.24% for CVSB.
CVSB currently has the higher Sharpe Ratio (5.32 vs 2.89), 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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