BILD vs. ACLO

Last updated Jul 12, 2026

BILD (Macquarie Global Listed Infrastructure ETF) and ACLO (TCW AAA CLO ETF) are both exchange-traded funds - BILD is a Energy Equities fund actively managed by Macquarie, while ACLO is a CLO fund actively managed by TCW. Both are actively managed. Over the past year, BILD returned 18.04% vs 5.19% for ACLO. At a correlation of -0.05, they often move in opposite directions. BILD charges 0.49%/yr vs 0.20%/yr for ACLO.

Performance

BILD vs. ACLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Macquarie Global Listed Infrastructure ETF (BILD) 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, BILD achieves a 9.93% return, which is significantly higher than ACLO's 2.69% return.

BILD

• 1D: 0.83%
• 1M: 1.07%
• 6M: 9.22%
• YTD: 9.93%
• 1Y: 18.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ACLO

• 1D: 0.02%
• 1M: 0.38%
• 6M: 2.47%
• YTD: 2.69%
• 1Y: 5.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BILD vs. ACLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BILD Macquarie Global Listed Infrastructure ETF	9.93%	21.08%	-3.44%
ACLO TCW AAA CLO ETF	2.69%	5.32%	0.81%

Correlation

The correlation between BILD and ACLO is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (All Time) Calculated using the full available price history since Nov 18, 2024	-0.05

Return for Risk

BILD vs. ACLO — Risk / Return Rank

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

BILD

BILD Risk / Return Rank: 61
BILD Sharpe Ratio Rank: 61
BILD Sortino Ratio Rank: 58
BILD Omega Ratio Rank: 60
BILD Calmar Ratio Rank: 73
BILD Martin Ratio Rank: 53

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.

BILD vs. ACLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Macquarie Global Listed Infrastructure ETF (BILD) 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.

	BILD	ACLO	Difference
Sharpe ratio: Return per unit of total volatility	1.63	7.19	-5.56
Sortino ratio: Return per unit of downside risk	2.21	14.83	-12.62
Omega ratio: Gain probability vs. loss probability	1.29	3.38	-2.08
Calmar ratio: Return relative to maximum drawdown	2.96	19.47	-16.51
Martin ratio: Return relative to average drawdown	7.23	161.89	-154.66

BILD vs. ACLO - Sharpe Ratio Comparison

The current BILD Sharpe Ratio is 1.63, which is lower than the ACLO Sharpe Ratio of 7.19. The chart below compares the historical Sharpe Ratios of BILD 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

BILD vs. ACLO - Drawdown Comparison

The maximum BILD drawdown since its inception was -14.78%, which is greater than ACLO's maximum drawdown of -1.01%. Use the drawdown chart below to compare losses from any high point for BILD and ACLO.

Drawdown Indicators

	BILD	ACLO	Difference
Max Drawdown Largest peak-to-trough decline	-14.78%	-1.01%	-13.77%
Max Drawdown (1Y) Largest decline over 1 year	-6.05%	-0.27%	-5.78%
Current Drawdown Current decline from peak	-2.67%	0.00%	-2.67%
Average Drawdown Average peak-to-trough decline	-3.71%	-0.04%	-3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	0.03%	+2.44%

Volatility

BILD vs. ACLO - Volatility Comparison

Macquarie Global Listed Infrastructure ETF (BILD) has a higher volatility of 3.42% compared to TCW AAA CLO ETF (ACLO) at 0.19%. This indicates that BILD'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

	BILD	ACLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.42%	0.19%	+3.23%
Volatility (6M) Calculated over the trailing 6-month period	9.20%	0.56%	+8.64%
Volatility (1Y) Calculated over the trailing 1-year period	10.98%	0.73%	+10.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.15%	1.06%	+12.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.15%	1.06%	+12.09%

BILD vs. ACLO - Expense Ratio Comparison

BILD has a 0.49% expense ratio, which is higher than ACLO's 0.20% expense ratio.

Dividends

BILD vs. ACLO - Dividend Comparison

BILD's dividend yield for the trailing twelve months is around 4.69%, less than ACLO's 4.90% yield.

Position	TTM	2025	2024	2023
ACLO TCW AAA CLO ETF	4.90%	4.87%	0.59%	0.00%
BILD Macquarie Global Listed Infrastructure ETF	4.69%	3.05%	5.53%	0.52%

Frequently Asked Questions

Can I hold both BILD and ACLO in my portfolio?

BILD and ACLO have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BILD or ACLO?

BILD has higher volatility (3.42%) compared to ACLO (0.19%). In terms of maximum drawdown, BILD dropped -14.78% vs ACLO's -1.01%.

Which ETF is better, BILD or ACLO?

On 1-year performance, BILD leads with 18.04% vs 5.19% for ACLO. On fees, ACLO is cheaper at 0.20% 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, BILD or ACLO?

Over the 1-year period, BILD has performed better with a 18.04% return vs 5.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BILD or ACLO?

ACLO is cheaper with a 0.20% expense ratio, compared with 0.49% for BILD.

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

ACLO has the higher dividend yield at 4.90%, compared with 4.69% for BILD.

What is the main difference between BILD and ACLO?

BILD is categorized as Energy Equities, while ACLO is CLO. They also come from different issuers: Macquarie and TCW. Their fees differ too: 0.49% for BILD and 0.20% for ACLO.

Which has better risk-adjusted returns?

ACLO currently has the higher Sharpe Ratio (7.19 vs 1.63), 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.