CLOZ vs. NEAR
CLOZ (Panagram BBB-B CLO ETF) and NEAR (iShares Short Duration Bond Active ETF) are both exchange-traded funds - CLOZ is a CLO fund actively managed by Panagram, while NEAR is a Short-Term Bond fund actively managed by iShares. Both are actively managed. Over the past 3 years, CLOZ returned 10.36%/yr vs 5.61%/yr for NEAR. At a correlation of -0.03, they often move in opposite directions. CLOZ charges 0.50%/yr vs 0.25%/yr for NEAR.
Performance
CLOZ vs. NEAR - Performance Comparison
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Returns By Period
In the year-to-date period, CLOZ achieves a 2.59% return, which is significantly higher than NEAR's 0.79% return.
CLOZ
- 1D
- 0.04%
- 1M
- 0.39%
- YTD
- 2.59%
- 6M
- 3.15%
- 1Y
- 6.27%
- 3Y*
- 10.36%
- 5Y*
- —
- 10Y*
- —
NEAR
- 1D
- -0.03%
- 1M
- 0.15%
- YTD
- 0.79%
- 6M
- 1.16%
- 1Y
- 4.05%
- 3Y*
- 5.61%
- 5Y*
- 3.87%
- 10Y*
- 2.85%
CLOZ vs. NEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CLOZ Panagram BBB-B CLO ETF | 2.59% | 5.99% | 11.85% | 14.99% |
NEAR iShares Short Duration Bond Active ETF | 0.79% | 5.90% | 5.09% | 6.90% |
Correlation
The correlation between CLOZ and NEAR is 0.06, 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 (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2023 | -0.03 |
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Return for Risk
CLOZ vs. NEAR — Risk / Return Rank
CLOZ
NEAR
CLOZ vs. NEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Panagram BBB-B CLO ETF (CLOZ) and iShares Short Duration Bond Active ETF (NEAR). 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 | NEAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -2.38 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.62 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 3.59 | -1.97 |
| Martin ratioReturn relative to average drawdown | 5.36 | 16.36 | -11.01 |
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Drawdowns
CLOZ vs. NEAR - Drawdown Comparison
The maximum CLOZ drawdown since its inception was -5.32%, smaller than the maximum NEAR drawdown of -9.61%. Use the drawdown chart below to compare losses from any high point for CLOZ and NEAR.
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Drawdown Indicators
| CLOZ | NEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.32% | -9.61% | +4.29% |
Max Drawdown (1Y)Largest decline over 1 year | -3.90% | -1.13% | -2.77% |
Max Drawdown (3Y)Largest decline over 3 years | -5.32% | -1.16% | -4.16% |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.32% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -9.61% | — |
Current DrawdownCurrent decline from peak | -0.06% | -0.03% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -0.38% | -0.16% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 0.25% | +0.92% |
Volatility
CLOZ vs. NEAR - Volatility Comparison
Panagram BBB-B CLO ETF (CLOZ) has a higher volatility of 0.52% compared to iShares Short Duration Bond Active ETF (NEAR) at 0.44%. This indicates that CLOZ's price experiences larger fluctuations and is considered to be riskier than NEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLOZ | NEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 0.44% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 1.02% | +2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | 1.36% | +2.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.79% | 1.34% | +2.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 2.50% | +1.29% |
CLOZ vs. NEAR - Expense Ratio Comparison
CLOZ has a 0.50% expense ratio, which is higher than NEAR's 0.25% expense ratio.
Dividends
CLOZ vs. NEAR - Dividend Comparison
CLOZ's dividend yield for the trailing twelve months is around 7.38%, more than NEAR's 4.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLOZ Panagram BBB-B CLO ETF | 7.38% | 7.63% | 9.09% | 8.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NEAR iShares Short Duration Bond Active ETF | 4.43% | 4.54% | 5.00% | 4.59% | 1.78% | 0.76% | 1.53% | 2.69% | 2.25% | 1.52% | 1.07% | 0.85% |
Frequently Asked Questions
CLOZ and NEAR have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CLOZ has higher volatility (0.52%) compared to NEAR (0.44%). In terms of maximum drawdown, CLOZ dropped -5.32% vs NEAR's -9.61%.
On 3-year performance, CLOZ leads with 10.36% vs 5.61% for NEAR. On fees, NEAR is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CLOZ has performed better with a 10.36% return vs 5.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NEAR is cheaper with a 0.25% expense ratio, compared with 0.50% for CLOZ.
CLOZ has the higher dividend yield at 7.38%, compared with 4.43% for NEAR.
CLOZ is categorized as CLO, while NEAR is Short-Term Bond. They also come from different issuers: Panagram and iShares. Their fees differ too: 0.50% for CLOZ and 0.25% for NEAR.
NEAR currently has the higher Sharpe Ratio (2.99 vs 1.83), 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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