CLOX vs. ICLO
Compare and contrast key facts about Panagram AAA CLO ETF (CLOX) and Invesco Aaa Clo Floating Rate Note ETF (ICLO).
CLOX and ICLO 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. ICLO is an actively managed fund by Invesco. It was launched on Dec 9, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CLOX or ICLO.
Correlation
The correlation between CLOX and ICLO 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. ICLO - Performance Comparison
Key characteristics
CLOX:
4.73
ICLO:
5.69
CLOX:
8.24
ICLO:
8.71
CLOX:
2.16
ICLO:
3.21
CLOX:
14.89
ICLO:
11.06
CLOX:
76.87
ICLO:
89.18
CLOX:
0.09%
ICLO:
0.08%
CLOX:
1.54%
ICLO:
1.21%
CLOX:
-0.49%
ICLO:
-0.83%
CLOX:
0.00%
ICLO:
0.00%
Returns By Period
In the year-to-date period, CLOX achieves a 0.49% return, which is significantly higher than ICLO's 0.23% return.
CLOX
0.49%
0.47%
3.28%
7.17%
N/A
N/A
ICLO
0.23%
0.43%
3.08%
6.84%
N/A
N/A
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CLOX vs. ICLO - Expense Ratio Comparison
CLOX has a 0.20% expense ratio, which is lower than ICLO's 0.26% 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%.
Risk-Adjusted Performance
CLOX vs. ICLO — Risk-Adjusted Performance Rank
CLOX
ICLO
CLOX vs. ICLO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Panagram AAA CLO ETF (CLOX) and Invesco Aaa Clo Floating Rate Note ETF (ICLO). 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. ICLO - Dividend Comparison
CLOX's dividend yield for the trailing twelve months is around 6.21%, less than ICLO's 6.49% yield.
| TTM | 2024 | 2023 | |
|---|---|---|---|
CLOX Panagram AAA CLO ETF | 6.21% | 6.25% | 2.90% |
ICLO Invesco Aaa Clo Floating Rate Note ETF | 6.49% | 6.51% | 7.09% |
Drawdowns
CLOX vs. ICLO - Drawdown Comparison
The maximum CLOX drawdown since its inception was -0.49%, smaller than the maximum ICLO drawdown of -0.83%. Use the drawdown chart below to compare losses from any high point for CLOX and ICLO. For additional features, visit the drawdowns tool.
Volatility
CLOX vs. ICLO - Volatility Comparison
Panagram AAA CLO ETF (CLOX) has a higher volatility of 0.35% compared to Invesco Aaa Clo Floating Rate Note ETF (ICLO) at 0.18%. This indicates that CLOX's price experiences larger fluctuations and is considered to be riskier than ICLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.