CLOZ vs. BSJU

Last updated Jun 24, 2026

CLOZ (Panagram BBB-B CLO ETF) and BSJU (Invesco Bulletshares 2030 High Yield Corporate Bond ETF) are both exchange-traded funds - CLOZ is a CLO fund actively managed by Panagram, while BSJU is a High Yield Bonds fund tracking the Invesco BulletShares High Yield Corporate Bond 2030 Index. CLOZ is actively managed, while BSJU is passively managed. Over the past 3 years, CLOZ returned 9.93%/yr vs 9.06%/yr for BSJU. At a 0.13 correlation, their price movements are largely independent. CLOZ charges 0.50%/yr vs 0.42%/yr for BSJU.

Performance

CLOZ vs. BSJU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Panagram BBB-B CLO ETF (CLOZ) and Invesco Bulletshares 2030 High Yield Corporate Bond ETF (BSJU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLOZ achieves a 2.09% return, which is significantly higher than BSJU's 1.91% return.

CLOZ

• 1D: -0.17%
• 1M: -0.35%
• YTD: 2.09%
• 6M: 2.33%
• 1Y: 5.19%
• 3Y*: 9.93%
• 5Y*: —
• 10Y*: —

BSJU

• 1D: 0.00%
• 1M: 0.69%
• YTD: 1.91%
• 6M: 2.02%
• 1Y: 6.57%
• 3Y*: 9.06%
• 5Y*: —
• 10Y*: —

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

CLOZ vs. BSJU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLOZ Panagram BBB-B CLO ETF	2.09%	5.99%	11.85%	14.99%
BSJU Invesco Bulletshares 2030 High Yield Corporate Bond ETF	1.91%	8.58%	8.20%	8.76%

Correlation

The correlation between CLOZ and BSJU is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jan 24, 2023	0.13

The correlation between CLOZ and BSJU shifts across timeframes, from 0.13 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CLOZ vs. BSJU — Risk / Return Rank

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

CLOZ

CLOZ Risk / Return Rank: 41
CLOZ Sharpe Ratio Rank: 45
CLOZ Sortino Ratio Rank: 39
CLOZ Omega Ratio Rank: 64
CLOZ Calmar Ratio Rank: 28
CLOZ Martin Ratio Rank: 32

BSJU

BSJU Risk / Return Rank: 58
BSJU Sharpe Ratio Rank: 52
BSJU Sortino Ratio Rank: 57
BSJU Omega Ratio Rank: 55
BSJU Calmar Ratio Rank: 57
BSJU Martin Ratio Rank: 70

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. BSJU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Panagram BBB-B CLO ETF (CLOZ) and Invesco Bulletshares 2030 High Yield Corporate Bond ETF (BSJU). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CLOZ	BSJU	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.67	-0.17
Sortino ratio: Return per unit of downside risk	1.92	2.54	-0.61
Omega ratio: Gain probability vs. loss probability	1.37	1.32	+0.05
Calmar ratio: Return relative to maximum drawdown	1.34	2.61	-1.27
Martin ratio: Return relative to average drawdown	4.43	12.07	-7.63

CLOZ vs. BSJU - Sharpe Ratio Comparison

The current CLOZ Sharpe Ratio is 1.50, which is comparable to the BSJU Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of CLOZ and BSJU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CLOZ vs. BSJU - Drawdown Comparison

The maximum CLOZ drawdown since its inception was -5.32%, smaller than the maximum BSJU drawdown of -7.51%. Use the drawdown chart below to compare losses from any high point for CLOZ and BSJU.

Drawdown Indicators

	CLOZ	BSJU	Difference
Max Drawdown Largest peak-to-trough decline	-5.32%	-7.51%	+2.19%
Max Drawdown (1Y) Largest decline over 1 year	-3.90%	-2.53%	-1.37%
Max Drawdown (3Y) Largest decline over 3 years	-5.32%	-5.12%	-0.20%
Current Drawdown Current decline from peak	-0.55%	-0.14%	-0.41%
Average Drawdown Average peak-to-trough decline	-0.38%	-1.07%	+0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	0.55%	+0.62%

Volatility

CLOZ vs. BSJU - Volatility Comparison

The current volatility for Panagram BBB-B CLO ETF (CLOZ) is 0.67%, while Invesco Bulletshares 2030 High Yield Corporate Bond ETF (BSJU) has a volatility of 1.04%. This indicates that CLOZ experiences smaller price fluctuations and is considered to be less risky than BSJU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLOZ	BSJU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	1.04%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	3.18%	3.12%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	3.47%	3.95%	-0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.79%	7.86%	-4.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.79%	7.86%	-4.07%

CLOZ vs. BSJU - Expense Ratio Comparison

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

Dividends

CLOZ vs. BSJU - Dividend Comparison

CLOZ's dividend yield for the trailing twelve months is around 7.42%, more than BSJU's 6.65% yield.

Position	TTM	2025	2024	2023	2022
BSJU Invesco Bulletshares 2030 High Yield Corporate Bond ETF	6.65%	6.52%	7.08%	6.74%	2.38%
CLOZ Panagram BBB-B CLO ETF	7.42%	7.63%	9.09%	8.81%	0.00%

Frequently Asked Questions

Can I hold both CLOZ and BSJU in my portfolio?

CLOZ and BSJU have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLOZ or BSJU?

BSJU has higher volatility (1.04%) compared to CLOZ (0.67%). In terms of maximum drawdown, CLOZ dropped -5.32% vs BSJU's -7.51%.

Which ETF is better, CLOZ or BSJU?

On 3-year performance, CLOZ leads with 9.93% vs 9.06% for BSJU. On fees, BSJU is cheaper at 0.42% per year. On volatility, CLOZ has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLOZ or BSJU?

Over the 3-year period, CLOZ has performed better with a 9.93% return vs 9.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLOZ or BSJU?

BSJU is cheaper with a 0.42% expense ratio, compared with 0.50% for CLOZ.

Which ETF pays a higher dividend yield, CLOZ or BSJU?

CLOZ has the higher dividend yield at 7.42%, compared with 6.65% for BSJU.

What is the main difference between CLOZ and BSJU?

CLOZ is categorized as CLO, while BSJU is High Yield Bonds. They also come from different issuers: Panagram and Invesco. Their fees differ too: 0.50% for CLOZ and 0.42% for BSJU.

Which has better risk-adjusted returns?

BSJU currently has the higher Sharpe Ratio (1.67 vs 1.50), 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.