CION vs. CLOZ
CION (CION Investment Corporation) is a stock, while CLOZ (Panagram BBB-B CLO ETF) is CLO fund actively managed by Panagram. Over the past 3 years, CION returned -0.08%/yr vs 9.73%/yr for CLOZ. At a 0.16 correlation, their price movements are largely independent.
Performance
CION vs. CLOZ - Performance Comparison
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Returns By Period
In the year-to-date period, CION achieves a -23.03% return, which is significantly lower than CLOZ's 2.78% return.
CION
- 1D
- 0.16%
- 1M
- -1.55%
- 6M
- -22.46%
- YTD
- -23.03%
- 1Y
- -18.79%
- 3Y*
- -0.08%
- 5Y*
- —
- 10Y*
- —
CLOZ
- 1D
- -0.15%
- 1M
- 0.19%
- 6M
- 2.32%
- YTD
- 2.78%
- 1Y
- 5.83%
- 3Y*
- 9.73%
- 5Y*
- —
- 10Y*
- —
CION vs. CLOZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CION CION Investment Corporation | -23.03% | -2.26% | 14.82% | 22.82% |
CLOZ Panagram BBB-B CLO ETF | 2.78% | 5.99% | 11.85% | 14.99% |
Correlation
The correlation between CION and CLOZ 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 (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2023 | 0.16 |
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Return for Risk
CION vs. CLOZ — Risk / Return Rank
CION
CLOZ
CION vs. CLOZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CION Investment Corporation (CION) and Panagram 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.
| CION | CLOZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.32 | ||
| Sortino ratioReturn per unit of downside risk | -2.91 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.43 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 1.50 | -2.07 |
| Martin ratioReturn relative to average drawdown | -1.08 | 4.98 | -6.06 |
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Drawdowns
CION vs. CLOZ - Drawdown Comparison
The maximum CION drawdown since its inception was -45.39%, which is greater than CLOZ's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for CION and CLOZ.
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Drawdown Indicators
| CION | CLOZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.39% | -5.32% | -40.07% |
Max Drawdown (1Y)Largest decline over 1 year | -33.39% | -3.90% | -29.49% |
Max Drawdown (3Y)Largest decline over 3 years | -37.62% | -5.32% | -32.30% |
Current DrawdownCurrent decline from peak | -31.66% | -0.23% | -31.43% |
Average DrawdownAverage peak-to-trough decline | -15.45% | -0.38% | -15.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.47% | 1.17% | +16.30% |
Volatility
CION vs. CLOZ - Volatility Comparison
CION Investment Corporation (CION) has a higher volatility of 12.79% compared to Panagram BBB-B CLO ETF (CLOZ) at 0.76%. This indicates that CION'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
| CION | CLOZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.79% | 0.76% | +12.03% |
Volatility (6M)Calculated over the trailing 6-month period | 25.34% | 3.20% | +22.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.89% | 3.47% | +26.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.03% | 3.77% | +26.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.03% | 3.77% | +26.26% |
Dividends
CION vs. CLOZ - Dividend Comparison
CION's dividend yield for the trailing twelve months is around 27.91%, more than CLOZ's 7.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CION CION Investment Corporation | 27.91% | 14.89% | 13.33% | 14.24% | 14.87% | 3.52% |
CLOZ Panagram BBB-B CLO ETF | 7.33% | 7.63% | 9.09% | 8.81% | 0.00% | 0.00% |
Frequently Asked Questions
CION and CLOZ 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.
CION has higher volatility (12.79%) compared to CLOZ (0.76%). In terms of maximum drawdown, CION dropped -45.39% vs CLOZ's -5.32%.
CLOZ currently has the higher Sharpe Ratio (1.69 vs -0.63), 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.
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