CLOZ vs. YCLO

Last updated Jul 14, 2026

CLOZ (Panagram BBB-B CLO ETF) and YCLO (Franklin BSP CLO ETF) are both CLO funds. Both are actively managed. At a correlation of -0.07, they often move in opposite directions.

Performance

CLOZ vs. YCLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Panagram BBB-B CLO ETF (CLOZ) and Franklin BSP CLO ETF (YCLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CLOZ

• 1D: -0.15%
• 1M: 0.19%
• 6M: 2.32%
• YTD: 2.78%
• 1Y: 5.83%
• 3Y*: 9.73%
• 5Y*: —
• 10Y*: —

YCLO

• 1D: 0.04%
• 1M: 0.59%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLOZ vs. YCLO - Yearly Performance Comparison

	2026 (YTD)
CLOZ Panagram BBB-B CLO ETF	0.24%
YCLO Franklin BSP CLO ETF	0.84%

Correlation

The correlation between CLOZ and YCLO is -0.07, 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 Jun 4, 2026	-0.07

Return for Risk

CLOZ vs. YCLO — Risk / Return Rank

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

CLOZ

CLOZ Risk / Return Rank: 57
CLOZ Sharpe Ratio Rank: 65
CLOZ Sortino Ratio Rank: 57
CLOZ Omega Ratio Rank: 87
CLOZ Calmar Ratio Rank: 37
CLOZ Martin Ratio Rank: 40

YCLO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. YCLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Panagram BBB-B CLO ETF (CLOZ) and Franklin BSP CLO ETF (YCLO). 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	YCLO	Difference
Sharpe ratio: Return per unit of total volatility	1.69	—	—
Sortino ratio: Return per unit of downside risk	2.16	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	1.50	—	—
Martin ratio: Return relative to average drawdown	4.98	—	—

Drawdowns

CLOZ vs. YCLO - Drawdown Comparison

The maximum CLOZ drawdown since its inception was -5.32%, which is greater than YCLO's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for CLOZ and YCLO.

Drawdown Indicators

	CLOZ	YCLO	Difference
Max Drawdown Largest peak-to-trough decline	-5.32%	-0.04%	-5.28%
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	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-0.38%	-0.00%	-0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	—	—

Volatility

Volatility by Period

	CLOZ	YCLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.20%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.47%	0.43%	+3.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.77%	0.43%	+3.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.77%	0.43%	+3.34%

Dividends

CLOZ vs. YCLO - Dividend Comparison

CLOZ's dividend yield for the trailing twelve months is around 7.33%, more than YCLO's 0.31% yield.

Position	TTM	2025	2024	2023
CLOZ Panagram BBB-B CLO ETF	7.33%	7.63%	9.09%	8.81%
YCLO Franklin BSP CLO ETF	0.31%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CLOZ and YCLO in my portfolio?

CLOZ and YCLO have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

CLOZ has the higher dividend yield at 7.33%, compared with 0.31% for YCLO.

What is the main difference between CLOZ and YCLO?

They also come from different issuers: Panagram and Franklin Templeton.