CLOZ vs. JAAA
Compare and contrast key facts about Panagram Bbb-B Clo ETF (CLOZ) and Janus Henderson AAA CLO ETF (JAAA).
CLOZ and JAAA 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. JAAA is an actively managed fund by Janus Henderson. It was launched on Oct 16, 2020.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CLOZ or JAAA.
Key characteristics
| CLOZ | JAAA | |
|---|---|---|
| YTD Return | 10.26% | 6.46% |
| 1Y Return | 13.87% | 8.02% |
| Sharpe Ratio | 6.36 | 10.61 |
| Sortino Ratio | 9.41 | 22.76 |
| Omega Ratio | 3.23 | 6.98 |
| Calmar Ratio | 10.10 | 24.78 |
| Martin Ratio | 61.35 | 250.79 |
| Ulcer Index | 0.23% | 0.03% |
| Daily Std Dev | 2.20% | 0.76% |
| Max Drawdown | -2.70% | -2.60% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between CLOZ and JAAA is 0.26, 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
CLOZ vs. JAAA - Performance Comparison
In the year-to-date period, CLOZ achieves a 10.26% return, which is significantly higher than JAAA's 6.46% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CLOZ vs. JAAA - Expense Ratio Comparison
CLOZ has a 0.50% expense ratio, which is higher than JAAA's 0.21% expense ratio.
Risk-Adjusted Performance
CLOZ vs. JAAA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Panagram Bbb-B Clo ETF (CLOZ) and Janus Henderson AAA CLO ETF (JAAA). 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
CLOZ vs. JAAA - Dividend Comparison
CLOZ's dividend yield for the trailing twelve months is around 9.72%, more than JAAA's 6.40% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
CLOZ Panagram Bbb-B Clo ETF | 9.02% | 8.81% | 0.00% | 0.00% | 0.00% |
JAAA Janus Henderson AAA CLO ETF | 6.40% | 6.10% | 2.77% | 1.21% | 0.26% |
Drawdowns
CLOZ vs. JAAA - Drawdown Comparison
The maximum CLOZ drawdown since its inception was -2.70%, roughly equal to the maximum JAAA drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for CLOZ and JAAA. For additional features, visit the drawdowns tool.
Volatility
CLOZ vs. JAAA - Volatility Comparison
Panagram Bbb-B Clo ETF (CLOZ) has a higher volatility of 0.48% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.17%. This indicates that CLOZ's price experiences larger fluctuations and is considered to be riskier than JAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.