CLOZ vs. BSJQ

Last updated Apr 2, 2026

Compare and contrast key facts about Panagram Bbb-B Clo ETF (CLOZ) and Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ).

CLOZ and BSJQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CLOZ is an actively managed fund by Panagram. It was launched on Jan 23, 2023. BSJQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ BulletShares USD High Yield Corporate Bond 2026 TR Index. It was launched on Aug 9, 2018.

Performance

CLOZ vs. BSJQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Panagram Bbb-B Clo ETF (CLOZ) and Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ). The values are adjusted to include any dividend payments, if applicable.

CLOZ vs. BSJQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLOZ Panagram Bbb-B Clo ETF	-1.42%	5.99%	11.85%	14.92%
BSJQ Invesco BulletShares 2026 High Yield Corp Bond ETF	0.66%	6.59%	7.49%	7.05%

Returns By Period

In the year-to-date period, CLOZ achieves a -1.42% return, which is significantly lower than BSJQ's 0.66% return.

CLOZ

• 1D: 0.51%
• 1M: 0.79%
• YTD: -1.42%
• 6M: -0.20%
• 1Y: 4.67%
• 3Y*: 9.95%
• 5Y*: —
• 10Y*: —

BSJQ

• 1D: 0.00%
• 1M: 0.16%
• YTD: 0.66%
• 6M: 1.78%
• 1Y: 5.91%
• 3Y*: 7.08%
• 5Y*: 3.93%
• 10Y*: —

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

CLOZ vs. BSJQ - Expense Ratio Comparison

CLOZ has a 0.50% expense ratio, which is higher than BSJQ's 0.42% expense ratio.

CLOZ

Panagram Bbb-B Clo ETF

BSJQ

Invesco BulletShares 2026 High Yield Corp Bond ETF

Return for Risk

CLOZ vs. BSJQ — Risk / Return Rank

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

CLOZ

CLOZ Risk / Return Rank: 46
CLOZ Sharpe Ratio Rank: 44
CLOZ Sortino Ratio Rank: 38
CLOZ Omega Ratio Rank: 64
CLOZ Calmar Ratio Rank: 45
CLOZ Martin Ratio Rank: 40

BSJQ

BSJQ Risk / Return Rank: 90
BSJQ Sharpe Ratio Rank: 87
BSJQ Sortino Ratio Rank: 90
BSJQ Omega Ratio Rank: 97
BSJQ Calmar Ratio Rank: 80
BSJQ Martin Ratio Rank: 95

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.

CLOZ vs. BSJQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Panagram Bbb-B Clo ETF (CLOZ) and Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ). 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	BSJQ	Difference
Sharpe ratio Return per unit of total volatility	0.85	1.85	-1.00
Sortino ratio Return per unit of downside risk	1.13	2.63	-1.50
Omega ratio Gain probability vs. loss probability	1.24	1.59	-0.35
Calmar ratio Return relative to maximum drawdown	1.23	2.39	-1.16
Martin ratio Return relative to average drawdown	3.89	17.12	-13.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLOZ vs. BSJQ - Sharpe Ratio Comparison

The current CLOZ Sharpe Ratio is 0.85, which is lower than the BSJQ Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of CLOZ and BSJQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CLOZ	BSJQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	1.85	-1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.55	0.54	+2.01

Correlation

The correlation between CLOZ and BSJQ 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.

Dividends

CLOZ vs. BSJQ - Dividend Comparison

CLOZ's dividend yield for the trailing twelve months is around 7.93%, more than BSJQ's 5.95% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CLOZ Panagram Bbb-B Clo ETF	7.93%	7.63%	9.09%	8.81%	0.00%	0.00%	0.00%	0.00%	0.00%
BSJQ Invesco BulletShares 2026 High Yield Corp Bond ETF	5.95%	6.10%	6.58%	6.58%	5.58%	4.27%	4.64%	4.59%	2.39%

Drawdowns

CLOZ vs. BSJQ - Drawdown Comparison

The maximum CLOZ drawdown since its inception was -5.32%, smaller than the maximum BSJQ drawdown of -24.13%. Use the drawdown chart below to compare losses from any high point for CLOZ and BSJQ.

Drawdown Indicators

	CLOZ	BSJQ	Difference
Max Drawdown Largest peak-to-trough decline	-5.32%	-24.13%	+18.81%
Max Drawdown (1Y) Largest decline over 1 year	-3.90%	-2.52%	-1.38%
Max Drawdown (5Y) Largest decline over 5 years	—	-11.95%	—
Current Drawdown Current decline from peak	-2.66%	0.00%	-2.66%
Average Drawdown Average peak-to-trough decline	-0.37%	-2.22%	+1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.23%	0.35%	+0.88%

Volatility

CLOZ vs. BSJQ - Volatility Comparison

Panagram Bbb-B Clo ETF (CLOZ) has a higher volatility of 1.37% compared to Invesco BulletShares 2026 High Yield Corp Bond ETF (BSJQ) at 0.59%. This indicates that CLOZ's price experiences larger fluctuations and is considered to be riskier than BSJQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLOZ	BSJQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	0.59%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	2.94%	0.94%	+2.00%
Volatility (1Y) Calculated over the trailing 1-year period	5.50%	3.21%	+2.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.83%	5.74%	-1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.83%	8.54%	-4.71%