CLOX vs. CLOA
Compare and contrast key facts about Panagram AAA CLO ETF (CLOX) and BlackRock AAA CLO ETF (CLOA).
CLOX and CLOA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CLOX is an actively managed fund by Panagram. It was launched on Jul 18, 2023. CLOA is an actively managed fund by Blackrock. It was launched on Jan 10, 2023.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CLOX or CLOA.
Correlation
The correlation between CLOX and CLOA is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
CLOX vs. CLOA - Performance Comparison
Key characteristics
CLOX:
1.12
CLOA:
3.50
CLOX:
1.42
CLOA:
4.72
CLOX:
1.52
CLOA:
2.24
CLOX:
1.43
CLOA:
5.28
CLOX:
16.20
CLOA:
34.27
CLOX:
0.36%
CLOA:
0.17%
CLOX:
5.26%
CLOA:
1.71%
CLOX:
-4.13%
CLOA:
-1.34%
CLOX:
-0.14%
CLOA:
-0.04%
Returns By Period
The year-to-date returns for both stocks are quite close, with CLOX having a 1.52% return and CLOA slightly lower at 1.49%.
CLOX
1.52%
4.55%
2.74%
5.80%
N/A
N/A
CLOA
1.49%
1.38%
2.60%
5.92%
N/A
N/A
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CLOX vs. CLOA - Expense Ratio Comparison
Both CLOX and CLOA have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
CLOX vs. CLOA — Risk-Adjusted Performance Rank
CLOX
CLOA
CLOX vs. CLOA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Panagram AAA CLO ETF (CLOX) and BlackRock AAA CLO ETF (CLOA). 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.
Dividends
CLOX vs. CLOA - Dividend Comparison
CLOX's dividend yield for the trailing twelve months is around 5.90%, which matches CLOA's 5.93% yield.
| TTM | 2024 | 2023 | |
|---|---|---|---|
CLOX Panagram AAA CLO ETF | 5.90% | 6.25% | 2.90% |
CLOA BlackRock AAA CLO ETF | 5.93% | 6.01% | 5.88% |
Drawdowns
CLOX vs. CLOA - Drawdown Comparison
The maximum CLOX drawdown since its inception was -4.13%, which is greater than CLOA's maximum drawdown of -1.34%. Use the drawdown chart below to compare losses from any high point for CLOX and CLOA. For additional features, visit the drawdowns tool.
Volatility
CLOX vs. CLOA - Volatility Comparison
Panagram AAA CLO ETF (CLOX) has a higher volatility of 2.93% compared to BlackRock AAA CLO ETF (CLOA) at 1.21%. This indicates that CLOX's price experiences larger fluctuations and is considered to be riskier than CLOA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.