CLOC vs. TRFM

Last updated Jun 4, 2026

CLOC (AAM Crescent CLO ETF) and TRFM (AAM Transformers ETF) are both exchange-traded funds - CLOC is a CLO fund actively managed by AAM, while TRFM is a Technology Equities fund tracking the Pence Transformers Index - Benchmark TR Gross. CLOC is actively managed, while TRFM is passively managed. At a 0.14 correlation, their price movements are largely independent. Both charge a 0.49% expense ratio.

Performance

CLOC vs. TRFM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM Crescent CLO ETF (CLOC) and AAM Transformers ETF (TRFM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLOC achieves a 2.34% return, which is significantly lower than TRFM's 30.30% return.

CLOC

• 1D: 0.00%
• 1M: 0.62%
• YTD: 2.34%
• 6M: 2.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TRFM

• 1D: -1.23%
• 1M: 12.40%
• YTD: 30.30%
• 6M: 29.25%
• 1Y: 53.69%
• 3Y*: 31.63%
• 5Y*: —
• 10Y*: —

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

CLOC vs. TRFM - Yearly Performance Comparison

	2026 (YTD)	2025
CLOC AAM Crescent CLO ETF	2.34%	0.93%
TRFM AAM Transformers ETF	30.30%	-3.70%

Correlation

The correlation between CLOC and TRFM is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 24, 2025	0.14

Return for Risk

CLOC vs. TRFM — Risk / Return Rank

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

TRFM

TRFM Risk / Return Rank: 71
TRFM Sharpe Ratio Rank: 74
TRFM Sortino Ratio Rank: 65
TRFM Omega Ratio Rank: 64
TRFM Calmar Ratio Rank: 80
TRFM Martin Ratio Rank: 74

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.

CLOC vs. TRFM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM Crescent CLO ETF (CLOC) and AAM Transformers ETF (TRFM). 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.

Sharpe Ratios by Period

	CLOC	TRFM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.09	1.05	+5.04

Drawdowns

CLOC vs. TRFM - Drawdown Comparison

The maximum CLOC drawdown since its inception was -0.54%, smaller than the maximum TRFM drawdown of -28.40%. Use the drawdown chart below to compare losses from any high point for CLOC and TRFM.

Drawdown Indicators

	CLOC	TRFM	Difference
Max Drawdown Largest peak-to-trough decline	-0.54%	-28.40%	+27.86%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.99%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-28.40%	—
Current Drawdown Current decline from peak	0.00%	-1.23%	+1.23%
Average Drawdown Average peak-to-trough decline	-0.07%	-6.61%	+6.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.82%	—

Volatility

Volatility by Period

	CLOC	TRFM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.91%	22.47%	-21.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.91%	26.94%	-26.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.91%	26.94%	-26.03%

CLOC vs. TRFM - Expense Ratio Comparison

Both CLOC and TRFM have an expense ratio of 0.49%.

Dividends

CLOC vs. TRFM - Dividend Comparison

CLOC's dividend yield for the trailing twelve months is around 3.67%, more than TRFM's 0.13% yield.

Position	TTM	2025
CLOC AAM Crescent CLO ETF	3.67%	1.15%
TRFM AAM Transformers ETF	0.13%	0.17%

Frequently Asked Questions

Can I hold both CLOC and TRFM in my portfolio?

CLOC and TRFM have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLOC or TRFM?

Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLOC or TRFM?

CLOC and TRFM have the same expense ratio: 0.49% per year.

Which ETF pays a higher dividend yield, CLOC or TRFM?

CLOC has the higher dividend yield at 3.67%, compared with 0.13% for TRFM.

What is the main difference between CLOC and TRFM?

CLOC is categorized as CLO, while TRFM is Technology Equities.