CLOC vs. CLOZ
CLOC (AAM Crescent CLO ETF) and CLOZ (Panagram BBB-B CLO ETF) are both CLO funds. Both are actively managed. At a 0.07 correlation, their price movements are largely independent. CLOC charges 0.49%/yr vs 0.50%/yr for CLOZ.
Performance
CLOC vs. CLOZ - Performance Comparison
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Returns By Period
In the year-to-date period, CLOC achieves a 2.65% return, which is significantly higher than CLOZ's 2.09% return.
CLOC
- 1D
- 0.02%
- 1M
- 0.44%
- YTD
- 2.65%
- 6M
- 2.95%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CLOZ
- 1D
- -0.17%
- 1M
- -0.35%
- YTD
- 2.09%
- 6M
- 2.33%
- 1Y
- 5.19%
- 3Y*
- 9.93%
- 5Y*
- —
- 10Y*
- —
CLOC vs. CLOZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CLOC AAM Crescent CLO ETF | 2.65% | 0.93% |
CLOZ Panagram BBB-B CLO ETF | 2.09% | 1.31% |
Correlation
The correlation between CLOC and CLOZ is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 23, 2025 | 0.07 |
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Return for Risk
CLOC vs. CLOZ — Risk / Return Rank
CLOC
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CLOZ
CLOC vs. CLOZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AAM Crescent CLO ETF (CLOC) and Panagram BBB-B CLO ETF (CLOZ). 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.
| CLOC | CLOZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.34 | — |
| Martin ratioReturn relative to average drawdown | — | 4.43 | — |
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Drawdowns
CLOC vs. CLOZ - Drawdown Comparison
The maximum CLOC drawdown since its inception was -0.54%, smaller than the maximum CLOZ drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for CLOC and CLOZ.
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Drawdown Indicators
| CLOC | CLOZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.54% | -5.32% | +4.78% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.90% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.32% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.55% | +0.55% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -0.38% | +0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.17% | — |
Volatility
CLOC vs. CLOZ - Volatility Comparison
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Volatility by Period
| CLOC | CLOZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.67% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.18% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.88% | 3.47% | -2.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.88% | 3.79% | -2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.88% | 3.79% | -2.91% |
CLOC vs. CLOZ - Expense Ratio Comparison
CLOC has a 0.49% expense ratio, which is lower than CLOZ's 0.50% expense ratio.
Dividends
CLOC vs. CLOZ - Dividend Comparison
CLOC's dividend yield for the trailing twelve months is around 3.66%, less than CLOZ's 7.42% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CLOC AAM Crescent CLO ETF | 3.66% | 1.15% | 0.00% | 0.00% |
CLOZ Panagram BBB-B CLO ETF | 7.42% | 7.63% | 9.09% | 8.81% |
Frequently Asked Questions
CLOC and CLOZ have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CLOC is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CLOC is cheaper with a 0.49% expense ratio, compared with 0.50% for CLOZ.
CLOZ has the higher dividend yield at 7.42%, compared with 3.66% for CLOC.
They also come from different issuers: AAM and Panagram. Their fees differ too: 0.49% for CLOC and 0.50% for CLOZ.
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