CLOO vs. NISM

Last updated Jul 8, 2026

CLOO (NYLI Investment Grade CLO ETF) and NISM (NYLI International Small-Mid Cap Equity ETF) are both exchange-traded funds - CLOO is a CLO fund actively managed by New York Life Investment Management, while NISM is a Foreign Small & Mid Cap Equities fund actively managed by New York Life Investment Management. Both are actively managed. At a 0.08 correlation, their price movements are largely independent. CLOO charges 0.25%/yr vs 0.70%/yr for NISM.

Performance

CLOO vs. NISM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI Investment Grade CLO ETF (CLOO) and NYLI International Small-Mid Cap Equity ETF (NISM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CLOO

• 1D: 0.00%
• 1M: 0.44%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NISM

• 1D: -1.87%
• 1M: 1.42%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLOO vs. NISM - Yearly Performance Comparison

	2026 (YTD)
CLOO NYLI Investment Grade CLO ETF	0.80%
NISM NYLI International Small-Mid Cap Equity ETF	-1.93%

Correlation

The correlation between CLOO and NISM is 0.08, 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 May 13, 2026	0.08

Return for Risk

CLOO vs. NISM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI Investment Grade CLO ETF (CLOO) and NYLI International Small-Mid Cap Equity ETF (NISM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

CLOO vs. NISM - Drawdown Comparison

The maximum CLOO drawdown since its inception was -0.04%, smaller than the maximum NISM drawdown of -4.35%. Use the drawdown chart below to compare losses from any high point for CLOO and NISM.

Drawdown Indicators

	CLOO	NISM	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-4.35%	+4.31%
Current Drawdown Current decline from peak	0.00%	-2.00%	+2.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-1.68%	+1.68%

Volatility

Volatility by Period

	CLOO	NISM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.50%	14.55%	-14.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.50%	14.55%	-14.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.50%	14.55%	-14.05%

CLOO vs. NISM - Expense Ratio Comparison

CLOO has a 0.25% expense ratio, which is lower than NISM's 0.70% expense ratio.

Dividends

CLOO vs. NISM - Dividend Comparison

CLOO's dividend yield for the trailing twelve months is around 0.59%, more than NISM's 0.24% yield.

Position	TTM
CLOO NYLI Investment Grade CLO ETF	0.59%
NISM NYLI International Small-Mid Cap Equity ETF	0.24%

Frequently Asked Questions

Can I hold both CLOO and NISM in my portfolio?

CLOO and NISM have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLOO or NISM?

On fees, CLOO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLOO or NISM?

CLOO is cheaper with a 0.25% expense ratio, compared with 0.70% for NISM.

Which ETF pays a higher dividend yield, CLOO or NISM?

CLOO has the higher dividend yield at 0.59%, compared with 0.24% for NISM.

What is the main difference between CLOO and NISM?

CLOO is categorized as CLO, while NISM is Foreign Small & Mid Cap Equities. Their fees differ too: 0.25% for CLOO and 0.70% for NISM.