CLOZ vs. CLOC

Last updated Jun 4, 2026

CLOZ (Panagram Bbb-B Clo ETF) and CLOC (AAM Crescent CLO ETF) are both CLO funds. Both are actively managed. At a 0.08 correlation, their price movements are largely independent. CLOZ charges 0.50%/yr vs 0.49%/yr for CLOC.

Performance

CLOZ vs. CLOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Panagram Bbb-B Clo ETF (CLOZ) and AAM Crescent CLO ETF (CLOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLOZ achieves a 2.53% return, which is significantly higher than CLOC's 2.34% return.

CLOZ

• 1D: -0.02%
• 1M: 0.66%
• YTD: 2.53%
• 6M: 3.13%
• 1Y: 6.21%
• 3Y*: 10.62%
• 5Y*: —
• 10Y*: —

CLOC

• 1D: 0.00%
• 1M: 0.62%
• YTD: 2.34%
• 6M: 2.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLOZ vs. CLOC - Yearly Performance Comparison

	2026 (YTD)	2025
CLOZ Panagram Bbb-B Clo ETF	2.53%	1.23%
CLOC AAM Crescent CLO ETF	2.34%	0.93%

Correlation

The correlation between CLOZ and CLOC is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 24, 2025	0.08

Return for Risk

CLOZ vs. CLOC — Risk / Return Rank

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

CLOZ

CLOZ Risk / Return Rank: 47
CLOZ Sharpe Ratio Rank: 51
CLOZ Sortino Ratio Rank: 45
CLOZ Omega Ratio Rank: 75
CLOZ Calmar Ratio Rank: 32
CLOZ Martin Ratio Rank: 34

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. CLOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Panagram Bbb-B Clo ETF (CLOZ) and AAM Crescent CLO ETF (CLOC). 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	CLOC	Difference
Sharpe ratio Return per unit of total volatility	1.81	—	—
Sortino ratio Return per unit of downside risk	2.31	—	—
Omega ratio Gain probability vs. loss probability	1.46	—	—
Calmar ratio Return relative to maximum drawdown	1.60	—	—
Martin ratio Return relative to average drawdown	5.31	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CLOZ	CLOC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.77	6.09	-3.33

Drawdowns

CLOZ vs. CLOC - Drawdown Comparison

The maximum CLOZ drawdown since its inception was -5.32%, which is greater than CLOC's maximum drawdown of -0.54%. Use the drawdown chart below to compare losses from any high point for CLOZ and CLOC.

Drawdown Indicators

	CLOZ	CLOC	Difference
Max Drawdown Largest peak-to-trough decline	-5.32%	-0.54%	-4.78%
Max Drawdown (1Y) Largest decline over 1 year	-3.90%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.32%	—	—
Current Drawdown Current decline from peak	-0.12%	0.00%	-0.12%
Average Drawdown Average peak-to-trough decline	-0.38%	-0.07%	-0.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	—	—

Volatility

Volatility by Period

	CLOZ	CLOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.42%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.45%	0.91%	+2.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.80%	0.91%	+2.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.80%	0.91%	+2.89%

CLOZ vs. CLOC - Expense Ratio Comparison

CLOZ has a 0.50% expense ratio, which is higher than CLOC's 0.49% expense ratio.

Dividends

CLOZ vs. CLOC - Dividend Comparison

CLOZ's dividend yield for the trailing twelve months is around 7.39%, more than CLOC's 3.67% yield.

Position	TTM	2025	2024	2023
CLOC AAM Crescent CLO ETF	3.67%	1.15%	0.00%	0.00%
CLOZ Panagram Bbb-B Clo ETF	7.39%	7.63%	9.09%	8.81%

Frequently Asked Questions

Can I hold both CLOZ and CLOC in my portfolio?

CLOZ and CLOC have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLOZ or CLOC?

On fees, CLOC is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLOZ or CLOC?

CLOC is cheaper with a 0.49% expense ratio, compared with 0.50% for CLOZ.

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

CLOZ has the higher dividend yield at 7.39%, compared with 3.67% for CLOC.

What is the main difference between CLOZ and CLOC?

They also come from different issuers: Panagram and AAM. Their fees differ too: 0.50% for CLOZ and 0.49% for CLOC.