CLOA vs. CLOC

Last updated Jun 4, 2026

CLOA (BlackRock AAA CLO ETF) and CLOC (AAM Crescent CLO ETF) are both CLO funds. Both are actively managed. At a 0.12 correlation, their price movements are largely independent. CLOA charges 0.20%/yr vs 0.49%/yr for CLOC.

Performance

CLOA vs. CLOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock AAA CLO ETF (CLOA) and AAM Crescent CLO ETF (CLOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLOA achieves a 2.06% return, which is significantly lower than CLOC's 2.34% return.

CLOA

• 1D: 0.02%
• 1M: 0.44%
• YTD: 2.06%
• 6M: 2.51%
• 1Y: 5.28%
• 3Y*: 6.74%
• 5Y*: —
• 10Y*: —

CLOC

• 1D: 0.00%
• 1M: 0.62%
• YTD: 2.34%
• 6M: 2.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLOA vs. CLOC - Yearly Performance Comparison

	2026 (YTD)	2025
CLOA BlackRock AAA CLO ETF	2.06%	1.14%
CLOC AAM Crescent CLO ETF	2.34%	0.93%

Correlation

The correlation between CLOA and CLOC is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 24, 2025	0.12

Return for Risk

CLOA vs. CLOC — Risk / Return Rank

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

CLOA

CLOA Risk / Return Rank: 99
CLOA Sharpe Ratio Rank: 99
CLOA Sortino Ratio Rank: 99
CLOA Omega Ratio Rank: 99
CLOA Calmar Ratio Rank: 99
CLOA 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.

CLOA vs. CLOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock AAA CLO ETF (CLOA) and AAM Crescent CLO ETF (CLOC). 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.

	CLOA	CLOC	Difference
Sharpe ratio: Return per unit of total volatility	7.45	—	—
Sortino ratio: Return per unit of downside risk	13.98	—	—
Omega ratio: Gain probability vs. loss probability	3.34	—	—
Calmar ratio: Return relative to maximum drawdown	30.02	—	—
Martin ratio: Return relative to average drawdown	150.47	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CLOA	CLOC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.22	6.09	-0.87

Drawdowns

CLOA vs. CLOC - Drawdown Comparison

The maximum CLOA drawdown since its inception was -1.34%, which is greater than CLOC's maximum drawdown of -0.54%. Use the drawdown chart below to compare losses from any high point for CLOA and CLOC.

Drawdown Indicators

	CLOA	CLOC	Difference
Max Drawdown Largest peak-to-trough decline	-1.34%	-0.54%	-0.80%
Max Drawdown (1Y) Largest decline over 1 year	-0.18%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.13%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.05%	-0.07%	+0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	—	—

Volatility

Volatility by Period

	CLOA	CLOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.71%	0.91%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.32%	0.91%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.32%	0.91%	+0.41%

CLOA vs. CLOC - Expense Ratio Comparison

CLOA has a 0.20% expense ratio, which is lower than CLOC's 0.49% expense ratio.

Dividends

CLOA vs. CLOC - Dividend Comparison

CLOA's dividend yield for the trailing twelve months is around 4.96%, more than CLOC's 3.67% yield.

Position	TTM	2025	2024	2023
CLOA BlackRock AAA CLO ETF	4.96%	5.35%	6.01%	5.88%
CLOC AAM Crescent CLO ETF	3.67%	1.15%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CLOA and CLOC in my portfolio?

CLOA and CLOC have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLOA or CLOC?

On fees, CLOA is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLOA or CLOC?

CLOA is cheaper with a 0.20% expense ratio, compared with 0.49% for CLOC.

Which ETF pays a higher dividend yield, CLOA or CLOC?

CLOA has the higher dividend yield at 4.96%, compared with 3.67% for CLOC.

What is the main difference between CLOA and CLOC?

They also come from different issuers: BlackRock and AAM. Their fees differ too: 0.20% for CLOA and 0.49% for CLOC.