CLOZ vs. BRK-B
CLOZ (Panagram BBB-B CLO ETF) is CLO fund actively managed by Panagram, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 3 years, CLOZ returned 10.45%/yr vs 13.25%/yr for BRK-B. At a 0.11 correlation, their price movements are largely independent.
Performance
CLOZ vs. BRK-B - Performance Comparison
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Returns By Period
In the year-to-date period, CLOZ achieves a 2.44% return, which is significantly higher than BRK-B's -3.11% return.
CLOZ
- 1D
- 0.04%
- 1M
- 0.39%
- YTD
- 2.44%
- 6M
- 2.91%
- 1Y
- 6.07%
- 3Y*
- 10.45%
- 5Y*
- —
- 10Y*
- —
BRK-B
- 1D
- -0.23%
- 1M
- 2.32%
- YTD
- -3.11%
- 6M
- -2.06%
- 1Y
- -1.32%
- 3Y*
- 13.25%
- 5Y*
- 11.03%
- 10Y*
- 13.14%
CLOZ vs. BRK-B - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CLOZ Panagram BBB-B CLO ETF | 2.44% | 5.99% | 11.85% | 14.92% |
BRK-B Berkshire Hathaway Inc. | -3.11% | 10.89% | 27.09% | 14.57% |
Correlation
The correlation between CLOZ and BRK-B is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2023 | 0.11 |
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Return for Risk
CLOZ vs. BRK-B — Risk / Return Rank
CLOZ
BRK-B
CLOZ vs. BRK-B - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Panagram BBB-B CLO ETF (CLOZ) and Berkshire Hathaway Inc. (BRK-B). 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.
| CLOZ | BRK-B | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.87 | ||
| Sortino ratioReturn per unit of downside risk | +2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.00 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | -0.14 | +1.70 |
| Martin ratioReturn relative to average drawdown | 5.19 | -0.30 | +5.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CLOZ | BRK-B | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | -0.09 | +1.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.65 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.68 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.75 | 0.48 | +2.27 |
Drawdowns
CLOZ vs. BRK-B - Drawdown Comparison
The maximum CLOZ drawdown since its inception was -5.32%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for CLOZ and BRK-B.
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Drawdown Indicators
| CLOZ | BRK-B | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.32% | -53.86% | +48.54% |
Max Drawdown (1Y)Largest decline over 1 year | -3.90% | -9.42% | +5.52% |
Max Drawdown (3Y)Largest decline over 3 years | -5.32% | -14.95% | +9.63% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.58% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.57% | — |
Current DrawdownCurrent decline from peak | -0.21% | -9.78% | +9.57% |
Average DrawdownAverage peak-to-trough decline | -0.38% | -11.07% | +10.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 4.49% | -3.32% |
Volatility
CLOZ vs. BRK-B - Volatility Comparison
The current volatility for Panagram BBB-B CLO ETF (CLOZ) is 0.47%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.98%. This indicates that CLOZ experiences smaller price fluctuations and is considered to be less risky than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLOZ | BRK-B | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | 3.98% | -3.51% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 10.87% | -7.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | 14.38% | -10.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.80% | 17.13% | -13.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.80% | 19.44% | -15.64% |
Dividends
CLOZ vs. BRK-B - Dividend Comparison
CLOZ's dividend yield for the trailing twelve months is around 7.40%, while BRK-B has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BRK-B Berkshire Hathaway Inc. | 0.00% | 0.00% | 0.00% | 0.00% |
CLOZ Panagram BBB-B CLO ETF | 7.40% | 7.63% | 9.09% | 8.81% |
Frequently Asked Questions
CLOZ and BRK-B have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRK-B has higher volatility (3.98%) compared to CLOZ (0.47%). In terms of maximum drawdown, CLOZ dropped -5.32% vs BRK-B's -53.86%.
CLOZ currently has the higher Sharpe Ratio (1.77 vs -0.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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