CLOX vs. CLOO

Last updated Jul 14, 2026

CLOX (Panagram AAA CLO ETF) and CLOO (NYLI Investment Grade CLO ETF) are both CLO funds. Both are actively managed. At a correlation of -0.19, they often move in opposite directions. CLOX charges 0.20%/yr vs 0.25%/yr for CLOO.

Performance

CLOX vs. CLOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Panagram AAA CLO ETF (CLOX) and NYLI Investment Grade CLO ETF (CLOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CLOX

• 1D: 0.06%
• 1M: 0.21%
• 6M: 2.43%
• YTD: 2.53%
• 1Y: 5.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLOO

• 1D: 0.00%
• 1M: 0.42%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLOX vs. CLOO - Yearly Performance Comparison

	2026 (YTD)
CLOX Panagram AAA CLO ETF	0.93%
CLOO NYLI Investment Grade CLO ETF	1.06%

Correlation

The correlation between CLOX and CLOO is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 6, 2026	-0.19

Return for Risk

CLOX vs. CLOO — Risk / Return Rank

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

CLOX

CLOX Risk / Return Rank: 98
CLOX Sharpe Ratio Rank: 98
CLOX Sortino Ratio Rank: 98
CLOX Omega Ratio Rank: 98
CLOX Calmar Ratio Rank: 97
CLOX Martin Ratio Rank: 98

CLOO

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

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.

CLOX vs. CLOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Panagram AAA CLO ETF (CLOX) and NYLI Investment Grade CLO ETF (CLOO). 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.

	CLOX	CLOO	Difference
Sharpe ratio: Return per unit of total volatility	4.09	—	—
Sortino ratio: Return per unit of downside risk	6.73	—	—
Omega ratio: Gain probability vs. loss probability	1.99	—	—
Calmar ratio: Return relative to maximum drawdown	7.96	—	—
Martin ratio: Return relative to average drawdown	41.46	—	—

Drawdowns

CLOX vs. CLOO - Drawdown Comparison

The maximum CLOX drawdown since its inception was -4.13%, which is greater than CLOO's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for CLOX and CLOO.

Drawdown Indicators

	CLOX	CLOO	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	-0.04%	-4.09%
Max Drawdown (1Y) Largest decline over 1 year	-0.66%	—	—
Current Drawdown Current decline from peak	-0.12%	0.00%	-0.12%
Average Drawdown Average peak-to-trough decline	-0.08%	-0.00%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.13%	—	—

Volatility

Volatility by Period

	CLOX	CLOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.92%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.28%	0.48%	+0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.28%	0.48%	+2.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.28%	0.48%	+2.80%

CLOX vs. CLOO - Expense Ratio Comparison

CLOX has a 0.20% expense ratio, which is lower than CLOO's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CLOX vs. CLOO - Dividend Comparison

CLOX's dividend yield for the trailing twelve months is around 4.95%, more than CLOO's 0.59% yield.

Position	TTM	2025	2024	2023
CLOO NYLI Investment Grade CLO ETF	0.59%	0.00%	0.00%	0.00%
CLOX Panagram AAA CLO ETF	4.95%	5.18%	6.25%	2.90%

Frequently Asked Questions

Can I hold both CLOX and CLOO in my portfolio?

CLOX and CLOO have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLOX or CLOO?

On fees, CLOX is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLOX or CLOO?

CLOX is cheaper with a 0.20% expense ratio, compared with 0.25% for CLOO.

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

CLOX has the higher dividend yield at 4.95%, compared with 0.59% for CLOO.

What is the main difference between CLOX and CLOO?

They also come from different issuers: Panagram and New York Life Investment Management. Their fees differ too: 0.20% for CLOX and 0.25% for CLOO.