CLOX vs. CLOZ
Compare and contrast key facts about Panagram AAA CLO ETF (CLOX) and Panagram Bbb-B Clo ETF (CLOZ).
CLOX and CLOZ 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. CLOZ is an actively managed fund by Panagram. It was launched on Jan 23, 2023.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CLOX or CLOZ.
Key characteristics
| CLOX | CLOZ | |
|---|---|---|
| YTD Return | 5.19% | 8.25% |
| 1Y Return | 7.71% | 12.54% |
| Sharpe Ratio | 4.46 | 5.45 |
| Daily Std Dev | 1.74% | 2.33% |
| Max Drawdown | -0.49% | -2.70% |
| Current Drawdown | -0.08% | 0.00% |
Correlation
The correlation between CLOX and CLOZ is 0.05, 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. CLOZ - Performance Comparison
In the year-to-date period, CLOX achieves a 5.19% return, which is significantly lower than CLOZ's 8.25% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CLOX vs. CLOZ - Expense Ratio Comparison
CLOX has a 0.20% expense ratio, which is lower than CLOZ's 0.50% expense ratio.
Risk-Adjusted Performance
CLOX vs. CLOZ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Panagram AAA CLO ETF (CLOX) and Panagram Bbb-B Clo ETF (CLOZ). 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. CLOZ - Dividend Comparison
CLOX's dividend yield for the trailing twelve months is around 6.13%, less than CLOZ's 8.74% yield.
| TTM | 2023 | |
|---|---|---|
CLOX Panagram AAA CLO ETF | 6.13% | 2.90% |
CLOZ Panagram Bbb-B Clo ETF | 8.74% | 8.81% |
Drawdowns
CLOX vs. CLOZ - Drawdown Comparison
The maximum CLOX drawdown since its inception was -0.49%, smaller than the maximum CLOZ drawdown of -2.70%. Use the drawdown chart below to compare losses from any high point for CLOX and CLOZ. For additional features, visit the drawdowns tool.
Volatility
CLOX vs. CLOZ - Volatility Comparison
The current volatility for Panagram AAA CLO ETF (CLOX) is 0.40%, while Panagram Bbb-B Clo ETF (CLOZ) has a volatility of 0.49%. This indicates that CLOX experiences smaller price fluctuations and is considered to be less risky than CLOZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.