CLOB vs. SCYB

Last updated Jun 23, 2026

CLOB (VanEck AA-BB CLO ETF) and SCYB (Schwab High Yield Bond ETF) are both exchange-traded funds - CLOB is a CLO fund actively managed by VanEck, while SCYB is a High Yield Bonds fund tracking the ICE BofA US Cash Pay High Yield Constrained Index. CLOB is actively managed, while SCYB is passively managed. Over the past year, CLOB returned 6.30% vs 6.69% for SCYB. At a 0.26 correlation, their price movements are largely independent. CLOB charges 0.45%/yr vs 0.03%/yr for SCYB.

Performance

CLOB vs. SCYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck AA-BB CLO ETF (CLOB) and Schwab High Yield Bond ETF (SCYB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CLOB having a 1.95% return and SCYB slightly lower at 1.92%.

CLOB

• 1D: -0.01%
• 1M: 0.19%
• YTD: 1.95%
• 6M: 1.84%
• 1Y: 6.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SCYB

• 1D: -0.04%
• 1M: 0.50%
• YTD: 1.92%
• 6M: 2.07%
• 1Y: 6.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLOB vs. SCYB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CLOB VanEck AA-BB CLO ETF	1.95%	6.94%	2.77%
SCYB Schwab High Yield Bond ETF	1.92%	8.33%	0.17%

Correlation

The correlation between CLOB and SCYB is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	0.26

Return for Risk

CLOB vs. SCYB — Risk / Return Rank

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

CLOB

CLOB Risk / Return Rank: 73
CLOB Sharpe Ratio Rank: 69
CLOB Sortino Ratio Rank: 71
CLOB Omega Ratio Rank: 81
CLOB Calmar Ratio Rank: 67
CLOB Martin Ratio Rank: 76

SCYB

SCYB Risk / Return Rank: 59
SCYB Sharpe Ratio Rank: 54
SCYB Sortino Ratio Rank: 58
SCYB Omega Ratio Rank: 58
SCYB Calmar Ratio Rank: 57
SCYB Martin Ratio Rank: 68

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.

CLOB vs. SCYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck AA-BB CLO ETF (CLOB) and Schwab High Yield Bond ETF (SCYB). 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.

	CLOB	SCYB	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.77	+0.38
Sortino ratio: Return per unit of downside risk	3.09	2.66	+0.44
Omega ratio: Gain probability vs. loss probability	1.46	1.35	+0.11
Calmar ratio: Return relative to maximum drawdown	3.24	2.75	+0.49
Martin ratio: Return relative to average drawdown	13.91	12.23	+1.69

CLOB vs. SCYB - Sharpe Ratio Comparison

The current CLOB Sharpe Ratio is 2.15, which is comparable to the SCYB Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of CLOB and SCYB, 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

CLOB vs. SCYB - Drawdown Comparison

The maximum CLOB drawdown since its inception was -5.54%, which is greater than SCYB's maximum drawdown of -4.92%. Use the drawdown chart below to compare losses from any high point for CLOB and SCYB.

Drawdown Indicators

	CLOB	SCYB	Difference
Max Drawdown Largest peak-to-trough decline	-5.54%	-4.92%	-0.62%
Max Drawdown (1Y) Largest decline over 1 year	-1.96%	-2.44%	+0.48%
Current Drawdown Current decline from peak	-0.19%	-0.15%	-0.04%
Average Drawdown Average peak-to-trough decline	-0.30%	-0.51%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.45%	0.55%	-0.10%

Volatility

CLOB vs. SCYB - Volatility Comparison

The current volatility for VanEck AA-BB CLO ETF (CLOB) is 0.44%, while Schwab High Yield Bond ETF (SCYB) has a volatility of 1.00%. This indicates that CLOB experiences smaller price fluctuations and is considered to be less risky than SCYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLOB	SCYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.44%	1.00%	-0.56%
Volatility (6M) Calculated over the trailing 6-month period	2.44%	3.02%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	2.95%	3.79%	-0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.46%	5.12%	+0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.46%	5.12%	+0.34%

CLOB vs. SCYB - Expense Ratio Comparison

CLOB has a 0.45% expense ratio, which is higher than SCYB's 0.03% expense ratio.

Dividends

CLOB vs. SCYB - Dividend Comparison

CLOB's dividend yield for the trailing twelve months is around 6.42%, less than SCYB's 6.91% yield.

Position	TTM	2025	2024	2023
CLOB VanEck AA-BB CLO ETF	6.42%	6.61%	1.65%	0.00%
SCYB Schwab High Yield Bond ETF	6.91%	6.99%	7.06%	3.36%

Frequently Asked Questions

Can I hold both CLOB and SCYB in my portfolio?

CLOB and SCYB have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLOB or SCYB?

SCYB has higher volatility (1.00%) compared to CLOB (0.44%). In terms of maximum drawdown, CLOB dropped -5.54% vs SCYB's -4.92%.

Which ETF is better, CLOB or SCYB?

On 1-year performance, SCYB leads with 6.69% vs 6.30% for CLOB. On fees, SCYB is cheaper at 0.03% per year. On volatility, CLOB has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLOB or SCYB?

Over the 1-year period, SCYB has performed better with a 6.69% return vs 6.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLOB or SCYB?

SCYB is cheaper with a 0.03% expense ratio, compared with 0.45% for CLOB.

Which ETF pays a higher dividend yield, CLOB or SCYB?

SCYB has the higher dividend yield at 6.91%, compared with 6.42% for CLOB.

What is the main difference between CLOB and SCYB?

CLOB is categorized as CLO, while SCYB is High Yield Bonds. They also come from different issuers: VanEck and Charles Schwab. Their fees differ too: 0.45% for CLOB and 0.03% for SCYB.

Which has better risk-adjusted returns?

CLOB currently has the higher Sharpe Ratio (2.15 vs 1.77), 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.