CLOX vs. PAAA
Compare and contrast key facts about Panagram AAA CLO ETF (CLOX) and PGIM AAA CLO ETF (PAAA).
CLOX and PAAA 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. PAAA is an actively managed fund by PGIM. It was launched on Jul 19, 2023.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CLOX or PAAA.
Correlation
The correlation between CLOX and PAAA is 0.07, 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. PAAA - Performance Comparison
Key characteristics
CLOX:
4.73
PAAA:
10.35
CLOX:
8.24
PAAA:
20.24
CLOX:
2.16
PAAA:
6.29
CLOX:
14.89
PAAA:
27.71
CLOX:
76.87
PAAA:
193.05
CLOX:
0.09%
PAAA:
0.04%
CLOX:
1.54%
PAAA:
0.71%
CLOX:
-0.49%
PAAA:
-0.27%
CLOX:
0.00%
PAAA:
0.00%
Returns By Period
In the year-to-date period, CLOX achieves a 0.49% return, which is significantly higher than PAAA's 0.37% return.
CLOX
0.49%
0.47%
3.28%
7.17%
N/A
N/A
PAAA
0.37%
0.55%
3.41%
7.30%
N/A
N/A
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CLOX vs. PAAA - Expense Ratio Comparison
CLOX has a 0.20% expense ratio, which is higher than PAAA's 0.19% expense ratio. However, 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. PAAA — Risk-Adjusted Performance Rank
CLOX
PAAA
CLOX vs. PAAA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Panagram AAA CLO ETF (CLOX) and PGIM AAA CLO ETF (PAAA). 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. PAAA - Dividend Comparison
CLOX's dividend yield for the trailing twelve months is around 6.21%, more than PAAA's 5.86% yield.
| TTM | 2024 | 2023 | |
|---|---|---|---|
CLOX Panagram AAA CLO ETF | 6.21% | 6.25% | 2.90% |
PAAA PGIM AAA CLO ETF | 5.86% | 5.88% | 2.76% |
Drawdowns
CLOX vs. PAAA - Drawdown Comparison
The maximum CLOX drawdown since its inception was -0.49%, which is greater than PAAA's maximum drawdown of -0.27%. Use the drawdown chart below to compare losses from any high point for CLOX and PAAA. For additional features, visit the drawdowns tool.
Volatility
CLOX vs. PAAA - Volatility Comparison
Panagram AAA CLO ETF (CLOX) has a higher volatility of 0.35% compared to PGIM AAA CLO ETF (PAAA) at 0.23%. This indicates that CLOX's price experiences larger fluctuations and is considered to be riskier than PAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.