CLOC vs. NCLO
CLOC (AAM Crescent CLO ETF) and NCLO (Nuveen AA-BBB CLO ETF) are both CLO funds. CLOC is actively managed, while NCLO is passively managed. At a correlation of -0.05, they often move in opposite directions. CLOC charges 0.49%/yr vs 0.26%/yr for NCLO.
Performance
CLOC vs. NCLO - Performance Comparison
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Returns By Period
In the year-to-date period, CLOC achieves a 2.34% return, which is significantly higher than NCLO's 1.96% return.
CLOC
- 1D
- 0.00%
- 1M
- 0.62%
- YTD
- 2.34%
- 6M
- 2.78%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NCLO
- 1D
- -0.16%
- 1M
- 0.61%
- YTD
- 1.96%
- 6M
- 2.57%
- 1Y
- 5.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CLOC vs. NCLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CLOC AAM Crescent CLO ETF | 2.34% | 0.93% |
NCLO Nuveen AA-BBB CLO ETF | 1.96% | 1.43% |
Correlation
The correlation between CLOC and NCLO is -0.05, 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 24, 2025 | -0.05 |
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Return for Risk
CLOC vs. NCLO — Risk / Return Rank
CLOC
NCLO
CLOC vs. NCLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AAM Crescent CLO ETF (CLOC) and Nuveen AA-BBB CLO ETF (NCLO). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| CLOC | NCLO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 6.09 | 1.59 | +4.50 |
Drawdowns
CLOC vs. NCLO - Drawdown Comparison
The maximum CLOC drawdown since its inception was -0.54%, smaller than the maximum NCLO drawdown of -3.05%. Use the drawdown chart below to compare losses from any high point for CLOC and NCLO.
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Drawdown Indicators
| CLOC | NCLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.54% | -3.05% | +2.51% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.05% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.35% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -0.07% | -0.20% | +0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.46% | — |
Volatility
CLOC vs. NCLO - Volatility Comparison
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Volatility by Period
| CLOC | NCLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.14% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.46% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.91% | 3.64% | -2.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.91% | 3.72% | -2.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.91% | 3.72% | -2.81% |
CLOC vs. NCLO - Expense Ratio Comparison
CLOC has a 0.49% expense ratio, which is higher than NCLO's 0.26% expense ratio.
Dividends
CLOC vs. NCLO - Dividend Comparison
CLOC's dividend yield for the trailing twelve months is around 3.67%, less than NCLO's 5.78% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CLOC AAM Crescent CLO ETF | 3.67% | 1.15% | 0.00% |
NCLO Nuveen AA-BBB CLO ETF | 5.78% | 6.09% | 0.35% |
Frequently Asked Questions
CLOC and NCLO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NCLO is cheaper at 0.26% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NCLO is cheaper with a 0.26% expense ratio, compared with 0.49% for CLOC.
NCLO has the higher dividend yield at 5.78%, compared with 3.67% for CLOC.
They also come from different issuers: AAM and Nuveen. Their fees differ too: 0.49% for CLOC and 0.26% for NCLO.
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