CLOA vs. PTY
CLOA (BlackRock AAA CLO ETF) and PTY (PIMCO Corporate & Income Opportunity Fund) are both funds - CLOA is a CLO fund actively managed by BlackRock, while PTY is a Corporate Bonds fund managed by PIMCO. Over the past 3 years, CLOA returned 6.62%/yr vs 7.73%/yr for PTY. At a 0.12 correlation, their price movements are largely independent. CLOA charges 0.20%/yr vs 1.19%/yr for PTY.
Performance
CLOA vs. PTY - Performance Comparison
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Returns By Period
In the year-to-date period, CLOA achieves a 2.15% return, which is significantly higher than PTY's -3.70% return.
CLOA
- 1D
- 0.02%
- 1M
- 0.30%
- YTD
- 2.15%
- 6M
- 2.54%
- 1Y
- 5.12%
- 3Y*
- 6.62%
- 5Y*
- —
- 10Y*
- —
PTY
- 1D
- 0.26%
- 1M
- -0.51%
- YTD
- -3.70%
- 6M
- -3.85%
- 1Y
- -4.11%
- 3Y*
- 7.73%
- 5Y*
- -0.75%
- 10Y*
- 8.71%
CLOA vs. PTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CLOA BlackRock AAA CLO ETF | 2.15% | 5.44% | 7.25% | 8.38% |
PTY PIMCO Corporate & Income Opportunity Fund | -3.70% | -0.51% | 19.87% | 12.88% |
Correlation
The correlation between CLOA and PTY is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2023 | 0.12 |
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Return for Risk
CLOA vs. PTY — Risk / Return Rank
CLOA
PTY
CLOA vs. PTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock AAA CLO ETF (CLOA) and PIMCO Corporate & Income Opportunity Fund (PTY). 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 | PTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.81 | ||
| Sortino ratioReturn per unit of downside risk | +14.23 | ||
| Omega ratioGain probability vs. loss probability | 3.33 | 0.92 | +2.40 |
| Calmar ratioReturn relative to maximum drawdown | 29.15 | -0.29 | +29.44 |
| Martin ratioReturn relative to average drawdown | 145.81 | -0.57 | +146.39 |
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Drawdowns
CLOA vs. PTY - Drawdown Comparison
The maximum CLOA drawdown since its inception was -1.34%, smaller than the maximum PTY drawdown of -60.86%. Use the drawdown chart below to compare losses from any high point for CLOA and PTY.
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Drawdown Indicators
| CLOA | PTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.34% | -60.86% | +59.52% |
Max Drawdown (1Y)Largest decline over 1 year | -0.18% | -15.44% | +15.26% |
Max Drawdown (3Y)Largest decline over 3 years | -1.13% | -16.04% | +14.91% |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.38% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.55% | — |
Current DrawdownCurrent decline from peak | 0.00% | -12.60% | +12.60% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -8.61% | +8.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 7.89% | -7.85% |
Volatility
CLOA vs. PTY - Volatility Comparison
The current volatility for BlackRock AAA CLO ETF (CLOA) is 0.13%, while PIMCO Corporate & Income Opportunity Fund (PTY) has a volatility of 2.64%. This indicates that CLOA experiences smaller price fluctuations and is considered to be less risky than PTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLOA | PTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 2.64% | -2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 0.48% | 7.49% | -7.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.70% | 10.80% | -10.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.31% | 17.39% | -16.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.31% | 21.19% | -19.88% |
CLOA vs. PTY - Expense Ratio Comparison
CLOA has a 0.20% expense ratio, which is lower than PTY's 1.19% expense ratio.
Dividends
CLOA vs. PTY - Dividend Comparison
CLOA's dividend yield for the trailing twelve months is around 4.95%, less than PTY's 12.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLOA BlackRock AAA CLO ETF | 4.95% | 5.35% | 6.01% | 5.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PTY PIMCO Corporate & Income Opportunity Fund | 12.15% | 11.05% | 9.92% | 10.77% | 13.12% | 9.16% | 8.74% | 8.37% | 10.63% | 9.48% | 12.09% | 11.92% |
Frequently Asked Questions
CLOA and PTY have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTY has higher volatility (2.64%) compared to CLOA (0.13%). In terms of maximum drawdown, CLOA dropped -1.34% vs PTY's -60.86%.
CLOA currently has the higher Sharpe Ratio (7.39 vs -0.42), 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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