BCLO vs. IVV

Last updated Jun 3, 2026

BCLO (iShares BBB-B CLO Active ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - BCLO is a CLO fund tracking the JP Morgan CLOIE High Quality Mezzanine Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, BCLO returned 6.78% vs 29.71% for IVV. At a 0.20 correlation, their price movements are largely independent. BCLO charges 0.45%/yr vs 0.03%/yr for IVV.

Performance

BCLO vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares BBB-B CLO Active ETF (BCLO) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCLO achieves a 2.74% return, which is significantly lower than IVV's 11.70% return.

BCLO

• 1D: 0.00%
• 1M: 0.79%
• YTD: 2.74%
• 6M: 3.15%
• 1Y: 6.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVV

• 1D: 0.14%
• 1M: 5.39%
• YTD: 11.70%
• 6M: 12.12%
• 1Y: 29.71%
• 3Y*: 22.74%
• 5Y*: 14.26%
• 10Y*: 15.62%

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

BCLO vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025
BCLO iShares BBB-B CLO Active ETF	2.74%	5.43%
IVV iShares Core S&P 500 ETF	11.70%	14.11%

Correlation

The correlation between BCLO and IVV is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jan 31, 2025	0.20

Return for Risk

BCLO vs. IVV — Risk / Return Rank

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

BCLO

BCLO Risk / Return Rank: 85
BCLO Sharpe Ratio Rank: 92
BCLO Sortino Ratio Rank: 95
BCLO Omega Ratio Rank: 97
BCLO Calmar Ratio Rank: 71
BCLO Martin Ratio Rank: 70

IVV

IVV Risk / Return Rank: 75
IVV Sharpe Ratio Rank: 77
IVV Sortino Ratio Rank: 75
IVV Omega Ratio Rank: 77
IVV Calmar Ratio Rank: 68
IVV Martin Ratio Rank: 80

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.

BCLO vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares BBB-B CLO Active ETF (BCLO) and iShares Core S&P 500 ETF (IVV). 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.

	BCLO	IVV	Difference
Sharpe ratio Return per unit of total volatility	3.36	2.54	+0.82
Sortino ratio Return per unit of downside risk	5.33	3.44	+1.90
Omega ratio Gain probability vs. loss probability	1.87	1.46	+0.40
Calmar ratio Return relative to maximum drawdown	3.60	3.43	+0.17
Martin ratio Return relative to average drawdown	13.32	15.97	-2.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BCLO vs. IVV - Sharpe Ratio Comparison

The current BCLO Sharpe Ratio is 3.36, which is higher than the IVV Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of BCLO and IVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BCLO	IVV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.36	2.54	+0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.85	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.41	0.46	+0.96

Drawdowns

BCLO vs. IVV - Drawdown Comparison

The maximum BCLO drawdown since its inception was -4.45%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for BCLO and IVV.

Drawdown Indicators

	BCLO	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-4.45%	-55.25%	+50.80%
Max Drawdown (1Y) Largest decline over 1 year	-1.92%	-8.89%	+6.97%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.75%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.53%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.90%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.40%	-10.78%	+10.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	1.91%	-1.39%

Volatility

BCLO vs. IVV - Volatility Comparison

The current volatility for iShares BBB-B CLO Active ETF (BCLO) is 0.66%, while iShares Core S&P 500 ETF (IVV) has a volatility of 2.75%. This indicates that BCLO experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCLO	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	2.75%	-2.09%
Volatility (6M) Calculated over the trailing 6-month period	1.65%	8.87%	-7.22%
Volatility (1Y) Calculated over the trailing 1-year period	2.03%	11.78%	-9.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.40%	16.88%	-12.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.40%	18.05%	-13.65%

BCLO vs. IVV - Expense Ratio Comparison

BCLO has a 0.45% expense ratio, which is higher than IVV's 0.03% expense ratio.

Dividends

BCLO vs. IVV - Dividend Comparison

BCLO's dividend yield for the trailing twelve months is around 6.59%, more than IVV's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCLO iShares BBB-B CLO Active ETF	6.59%	6.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IVV iShares Core S&P 500 ETF	1.06%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%

Frequently Asked Questions

Can I hold both BCLO and IVV in my portfolio?

BCLO and IVV 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.

Which is riskier, BCLO or IVV?

IVV has higher volatility (2.75%) compared to BCLO (0.66%). In terms of maximum drawdown, BCLO dropped -4.45% vs IVV's -55.25%.

Which ETF is better, BCLO or IVV?

On 1-year performance, IVV leads with 29.71% vs 6.78% for BCLO. On fees, IVV is cheaper at 0.03% per year. On volatility, BCLO has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BCLO or IVV?

Over the 1-year period, IVV has performed better with a 29.71% return vs 6.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BCLO or IVV?

IVV is cheaper with a 0.03% expense ratio, compared with 0.45% for BCLO.

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

BCLO has the higher dividend yield at 6.59%, compared with 1.06% for IVV.

What is the main difference between BCLO and IVV?

BCLO is categorized as CLO, while IVV is S&P 500. BCLO tracks JP Morgan CLOIE High Quality Mezzanine Index, while IVV tracks S&P 500 Index. Their fees differ too: 0.45% for BCLO and 0.03% for IVV.

Which has better risk-adjusted returns?

BCLO currently has the higher Sharpe Ratio (3.36 vs 2.54), 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.