CLOA vs. ICLO
Compare and contrast key facts about BlackRock AAA CLO ETF (CLOA) and Invesco Aaa Clo Floating Rate Note ETF (ICLO).
CLOA and ICLO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CLOA is an actively managed fund by Blackrock. It was launched on Jan 10, 2023. ICLO is an actively managed fund by Invesco. It was launched on Dec 9, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CLOA or ICLO.
Correlation
The correlation between CLOA and ICLO is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
CLOA vs. ICLO - Performance Comparison
Key characteristics
CLOA:
9.75
ICLO:
5.78
CLOA:
17.53
ICLO:
8.86
CLOA:
5.11
ICLO:
3.27
CLOA:
25.35
ICLO:
11.24
CLOA:
230.87
ICLO:
90.68
CLOA:
0.03%
ICLO:
0.08%
CLOA:
0.75%
ICLO:
1.21%
CLOA:
-1.34%
ICLO:
-0.83%
CLOA:
0.00%
ICLO:
-0.02%
Returns By Period
The year-to-date returns for both stocks are quite close, with CLOA having a 7.02% return and ICLO slightly lower at 6.84%.
CLOA
7.02%
0.47%
3.16%
7.20%
N/A
N/A
ICLO
6.84%
0.45%
3.22%
7.01%
N/A
N/A
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CLOA vs. ICLO - Expense Ratio Comparison
CLOA has a 0.20% expense ratio, which is lower than ICLO's 0.26% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
CLOA vs. ICLO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock AAA CLO ETF (CLOA) and Invesco Aaa Clo Floating Rate Note ETF (ICLO). 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.
Dividends
CLOA vs. ICLO - Dividend Comparison
CLOA's dividend yield for the trailing twelve months is around 6.02%, which matches ICLO's 6.00% yield.
| TTM | 2023 | |
|---|---|---|
CLOA BlackRock AAA CLO ETF | 6.02% | 5.88% |
ICLO Invesco Aaa Clo Floating Rate Note ETF | 6.00% | 7.09% |
Drawdowns
CLOA vs. ICLO - Drawdown Comparison
The maximum CLOA drawdown since its inception was -1.34%, which is greater than ICLO's maximum drawdown of -0.83%. Use the drawdown chart below to compare losses from any high point for CLOA and ICLO. For additional features, visit the drawdowns tool.
Volatility
CLOA vs. ICLO - Volatility Comparison
The current volatility for BlackRock AAA CLO ETF (CLOA) is 0.15%, while Invesco Aaa Clo Floating Rate Note ETF (ICLO) has a volatility of 0.19%. This indicates that CLOA experiences smaller price fluctuations and is considered to be less risky than ICLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.