DISO vs. PCLO

Last updated Jun 4, 2026

DISO (YieldMax DIS Option Income Strategy ETF) and PCLO (Virtus SEIX AAA Private Credit CLO ETF) are both exchange-traded funds - DISO is a Derivative Income fund actively managed by YieldMax, while PCLO is a CLO fund actively managed by Virtus. Both are actively managed. Over the past year, DISO returned -8.09% vs 5.30% for PCLO. At a 0.04 correlation, their price movements are largely independent. DISO charges 1.01%/yr vs 0.29%/yr for PCLO.

Performance

DISO vs. PCLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax DIS Option Income Strategy ETF (DISO) and Virtus SEIX AAA Private Credit CLO ETF (PCLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DISO achieves a -10.99% return, which is significantly lower than PCLO's 1.97% return.

DISO

• 1D: -1.72%
• 1M: -1.79%
• YTD: -10.99%
• 6M: -4.80%
• 1Y: -8.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PCLO

• 1D: 0.08%
• 1M: 0.42%
• YTD: 1.97%
• 6M: 2.29%
• 1Y: 5.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DISO vs. PCLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DISO YieldMax DIS Option Income Strategy ETF	-10.99%	2.12%	-2.35%
PCLO Virtus SEIX AAA Private Credit CLO ETF	1.97%	5.39%	0.50%

Correlation

The correlation between DISO and PCLO is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	0.04

The correlation between DISO and PCLO shifts across timeframes, from -0.15 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DISO vs. PCLO — Risk / Return Rank

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

DISO

DISO Risk / Return Rank: 5
DISO Sharpe Ratio Rank: 5
DISO Sortino Ratio Rank: 5
DISO Omega Ratio Rank: 5
DISO Calmar Ratio Rank: 5
DISO Martin Ratio Rank: 4

PCLO

PCLO Risk / Return Rank: 99
PCLO Sharpe Ratio Rank: 98
PCLO Sortino Ratio Rank: 99
PCLO Omega Ratio Rank: 99
PCLO Calmar Ratio Rank: 99
PCLO Martin Ratio Rank: 99

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.

DISO vs. PCLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax DIS Option Income Strategy ETF (DISO) and Virtus SEIX AAA Private Credit CLO ETF (PCLO). 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.

	DISO	PCLO	Difference
Sharpe ratio: Return per unit of total volatility	-0.40	5.94	-6.34
Sortino ratio: Return per unit of downside risk	-0.44	10.34	-10.78
Omega ratio: Gain probability vs. loss probability	0.95	2.76	-1.82
Calmar ratio: Return relative to maximum drawdown	-0.45	20.27	-20.72
Martin ratio: Return relative to average drawdown	-1.02	123.68	-124.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DISO vs. PCLO - Sharpe Ratio Comparison

The current DISO Sharpe Ratio is -0.40, which is lower than the PCLO Sharpe Ratio of 5.94. The chart below compares the historical Sharpe Ratios of DISO and PCLO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DISO	PCLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.40	5.94	-6.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	4.62	-4.40

Drawdowns

DISO vs. PCLO - Drawdown Comparison

The maximum DISO drawdown since its inception was -26.62%, which is greater than PCLO's maximum drawdown of -0.76%. Use the drawdown chart below to compare losses from any high point for DISO and PCLO.

Drawdown Indicators

	DISO	PCLO	Difference
Max Drawdown Largest peak-to-trough decline	-26.62%	-0.76%	-25.86%
Max Drawdown (1Y) Largest decline over 1 year	-18.08%	-0.26%	-17.82%
Current Drawdown Current decline from peak	-13.46%	0.00%	-13.46%
Average Drawdown Average peak-to-trough decline	-7.67%	-0.03%	-7.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.92%	0.04%	+7.88%

Volatility

DISO vs. PCLO - Volatility Comparison

YieldMax DIS Option Income Strategy ETF (DISO) has a higher volatility of 9.07% compared to Virtus SEIX AAA Private Credit CLO ETF (PCLO) at 0.25%. This indicates that DISO's price experiences larger fluctuations and is considered to be riskier than PCLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DISO	PCLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.07%	0.25%	+8.82%
Volatility (6M) Calculated over the trailing 6-month period	16.10%	0.70%	+15.40%
Volatility (1Y) Calculated over the trailing 1-year period	20.24%	0.90%	+19.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.53%	1.15%	+20.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.53%	1.15%	+20.38%

DISO vs. PCLO - Expense Ratio Comparison

DISO has a 1.01% expense ratio, which is higher than PCLO's 0.29% expense ratio.

Dividends

DISO vs. PCLO - Dividend Comparison

DISO's dividend yield for the trailing twelve months is around 44.73%, more than PCLO's 5.27% yield.

Position	TTM	2025	2024	2023
DISO YieldMax DIS Option Income Strategy ETF	44.73%	38.87%	37.33%	6.87%
PCLO Virtus SEIX AAA Private Credit CLO ETF	5.27%	5.53%	0.44%	0.00%

Frequently Asked Questions

Can I hold both DISO and PCLO in my portfolio?

DISO and PCLO have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DISO or PCLO?

DISO has higher volatility (9.07%) compared to PCLO (0.25%). In terms of maximum drawdown, DISO dropped -26.62% vs PCLO's -0.76%.

Which ETF is better, DISO or PCLO?

On 1-year performance, PCLO leads with 5.30% vs -8.09% for DISO. On fees, PCLO is cheaper at 0.29% per year. On volatility, PCLO has been the lower-risk option at 0.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DISO or PCLO?

Over the 1-year period, PCLO has performed better with a 5.30% return vs -8.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DISO or PCLO?

PCLO is cheaper with a 0.29% expense ratio, compared with 1.01% for DISO.

Which ETF pays a higher dividend yield, DISO or PCLO?

DISO has the higher dividend yield at 44.73%, compared with 5.27% for PCLO.

What is the main difference between DISO and PCLO?

DISO is categorized as Derivative Income, while PCLO is CLO. They also come from different issuers: YieldMax and Virtus. Their fees differ too: 1.01% for DISO and 0.29% for PCLO.

Which has better risk-adjusted returns?

PCLO currently has the higher Sharpe Ratio (5.94 vs -0.40), 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.