CLOA.DE vs. ^GSPC

Last updated Jun 26, 2026

CLOA.DE (Invesco EUR AAA CLO UCITS ETF Acc) is CLO fund tracking the J.P. Morgan European Collateralized Loan Obligation AAA-only Index, while ^GSPC (S&P 500 Index) is an index. Over the past year, CLOA.DE returned 3.30% vs 23.85% for ^GSPC. At a correlation of -0.17, they often move in opposite directions.

Performance

CLOA.DE vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco EUR AAA CLO UCITS ETF Acc (CLOA.DE) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CLOA.DE is traded in EUR, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, CLOA.DE achieves a 1.70% return, which is significantly lower than ^GSPC's 11.08% return.

CLOA.DE

• 1D: 0.00%
• 1M: 0.48%
• YTD: 1.70%
• 6M: 1.84%
• 1Y: 3.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

^GSPC

• 1D: -0.08%
• 1M: 0.13%
• YTD: 11.08%
• 6M: 9.99%
• 1Y: 23.85%
• 3Y*: 17.70%
• 5Y*: 12.53%
• 10Y*: 13.56%

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

CLOA.DE vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025
CLOA.DE Invesco EUR AAA CLO UCITS ETF Acc	1.70%	2.90%
^GSPC S&P 500 Index	11.08%	-0.12%

Correlation

The correlation between CLOA.DE and ^GSPC is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.21
Correlation (All Time) Calculated using the full available price history since Feb 10, 2025	-0.17

Return for Risk

CLOA.DE vs. ^GSPC — Risk / Return Rank

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

CLOA.DE

CLOA.DE Risk / Return Rank: 93
CLOA.DE Sharpe Ratio Rank: 89
CLOA.DE Sortino Ratio Rank: 92
CLOA.DE Omega Ratio Rank: 91
CLOA.DE Calmar Ratio Rank: 98
CLOA.DE Martin Ratio Rank: 97

^GSPC

^GSPC Risk / Return Rank: 70
^GSPC Sharpe Ratio Rank: 68
^GSPC Sortino Ratio Rank: 71
^GSPC Omega Ratio Rank: 71
^GSPC Calmar Ratio Rank: 62
^GSPC Martin Ratio Rank: 78

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.

CLOA.DE vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco EUR AAA CLO UCITS ETF Acc (CLOA.DE) and S&P 500 Index (^GSPC). 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.

	CLOA.DE	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	2.58	1.90	+0.68
Sortino ratio: Return per unit of downside risk	3.85	2.48	+1.38
Omega ratio: Gain probability vs. loss probability	1.52	1.35	+0.16
Calmar ratio: Return relative to maximum drawdown	12.43	3.17	+9.26
Martin ratio: Return relative to average drawdown	38.26	11.71	+26.55

CLOA.DE vs. ^GSPC - Sharpe Ratio Comparison

The current CLOA.DE Sharpe Ratio is 2.58, which is higher than the ^GSPC Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of CLOA.DE and ^GSPC, 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

CLOA.DE vs. ^GSPC - Drawdown Comparison

The maximum CLOA.DE drawdown since its inception was -0.49%, smaller than the maximum ^GSPC drawdown of -51.62%. Use the drawdown chart below to compare losses from any high point for CLOA.DE and ^GSPC.

Drawdown Indicators

	CLOA.DE	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-0.49%	-51.62%	+51.13%
Max Drawdown (1Y) Largest decline over 1 year	-0.27%	-7.57%	+7.30%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.99%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-23.99%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.42%	—
Current Drawdown Current decline from peak	0.00%	-1.08%	+1.08%
Average Drawdown Average peak-to-trough decline	-0.08%	-9.08%	+9.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.09%	2.04%	-1.95%

Volatility

CLOA.DE vs. ^GSPC - Volatility Comparison

The current volatility for Invesco EUR AAA CLO UCITS ETF Acc (CLOA.DE) is 0.43%, while S&P 500 Index (^GSPC) has a volatility of 3.97%. This indicates that CLOA.DE experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLOA.DE	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.43%	3.97%	-3.54%
Volatility (6M) Calculated over the trailing 6-month period	0.94%	9.16%	-8.22%
Volatility (1Y) Calculated over the trailing 1-year period	1.32%	12.60%	-11.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.41%	16.86%	-15.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.41%	18.61%	-17.20%

Frequently Asked Questions

Can I hold both CLOA.DE and ^GSPC in my portfolio?

CLOA.DE and ^GSPC have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.