EFAV vs. ACLO

Last updated Jun 26, 2026

EFAV (iShares MSCI EAFE Min Vol Factor ETF) and ACLO (TCW AAA CLO ETF) are both exchange-traded funds - EFAV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Minimum Volatility (USD) Index, while ACLO is a CLO fund actively managed by TCW. EFAV is passively managed, while ACLO is actively managed. Over the past year, EFAV returned 8.94% vs 5.32% for ACLO. At a correlation of -0.16, they often move in opposite directions. Both charge a 0.20% expense ratio.

Performance

EFAV vs. ACLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EAFE Min Vol Factor ETF (EFAV) and TCW AAA CLO ETF (ACLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFAV achieves a 2.87% return, which is significantly higher than ACLO's 2.45% return.

EFAV

• 1D: 0.09%
• 1M: -2.63%
• YTD: 2.87%
• 6M: 2.52%
• 1Y: 8.94%
• 3Y*: 12.70%
• 5Y*: 5.82%
• 10Y*: 6.44%

ACLO

• 1D: -0.01%
• 1M: 0.39%
• YTD: 2.45%
• 6M: 2.50%
• 1Y: 5.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EFAV vs. ACLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EFAV iShares MSCI EAFE Min Vol Factor ETF	2.87%	26.00%	-0.79%
ACLO TCW AAA CLO ETF	2.45%	5.32%	0.81%

Correlation

The correlation between EFAV and ACLO is -0.22, 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	-0.22
Correlation (All Time) Calculated using the full available price history since Nov 18, 2024	-0.16

Return for Risk

EFAV vs. ACLO — Risk / Return Rank

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

EFAV

EFAV Risk / Return Rank: 26
EFAV Sharpe Ratio Rank: 26
EFAV Sortino Ratio Rank: 24
EFAV Omega Ratio Rank: 24
EFAV Calmar Ratio Rank: 30
EFAV Martin Ratio Rank: 27

ACLO

ACLO Risk / Return Rank: 99
ACLO Sharpe Ratio Rank: 99
ACLO Sortino Ratio Rank: 99
ACLO Omega Ratio Rank: 99
ACLO Calmar Ratio Rank: 99
ACLO 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.

EFAV vs. ACLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Min Vol Factor ETF (EFAV) and TCW AAA CLO ETF (ACLO). 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.

	EFAV	ACLO	Difference
Sharpe ratio: Return per unit of total volatility	0.85	7.36	-6.51
Sortino ratio: Return per unit of downside risk	1.25	15.25	-14.00
Omega ratio: Gain probability vs. loss probability	1.16	3.47	-2.32
Calmar ratio: Return relative to maximum drawdown	1.35	19.94	-18.59
Martin ratio: Return relative to average drawdown	3.35	166.13	-162.78

EFAV vs. ACLO - Sharpe Ratio Comparison

The current EFAV Sharpe Ratio is 0.85, which is lower than the ACLO Sharpe Ratio of 7.36. The chart below compares the historical Sharpe Ratios of EFAV and ACLO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EFAV vs. ACLO - Drawdown Comparison

The maximum EFAV drawdown since its inception was -27.56%, which is greater than ACLO's maximum drawdown of -1.01%. Use the drawdown chart below to compare losses from any high point for EFAV and ACLO.

Drawdown Indicators

	EFAV	ACLO	Difference
Max Drawdown Largest peak-to-trough decline	-27.56%	-1.01%	-26.55%
Max Drawdown (1Y) Largest decline over 1 year	-6.66%	-0.27%	-6.39%
Max Drawdown (3Y) Largest decline over 3 years	-8.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-27.56%	—	—
Current Drawdown Current decline from peak	-6.48%	-0.01%	-6.47%
Average Drawdown Average peak-to-trough decline	-4.77%	-0.04%	-4.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	0.03%	+2.64%

Volatility

EFAV vs. ACLO - Volatility Comparison

iShares MSCI EAFE Min Vol Factor ETF (EFAV) has a higher volatility of 3.06% compared to TCW AAA CLO ETF (ACLO) at 0.18%. This indicates that EFAV's price experiences larger fluctuations and is considered to be riskier than ACLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFAV	ACLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	0.18%	+2.88%
Volatility (6M) Calculated over the trailing 6-month period	8.53%	0.58%	+7.95%
Volatility (1Y) Calculated over the trailing 1-year period	10.54%	0.73%	+9.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.82%	1.07%	+10.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.05%	1.07%	+11.98%

EFAV vs. ACLO - Expense Ratio Comparison

Both EFAV and ACLO have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

EFAV vs. ACLO - Dividend Comparison

EFAV's dividend yield for the trailing twelve months is around 3.28%, less than ACLO's 4.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACLO TCW AAA CLO ETF	4.90%	4.87%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EFAV iShares MSCI EAFE Min Vol Factor ETF	3.28%	3.20%	3.24%	3.08%	2.53%	2.47%	1.33%	4.19%	3.34%	2.45%	3.94%	2.49%

Frequently Asked Questions

Can I hold both EFAV and ACLO in my portfolio?

EFAV and ACLO have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFAV or ACLO?

EFAV has higher volatility (3.06%) compared to ACLO (0.18%). In terms of maximum drawdown, EFAV dropped -27.56% vs ACLO's -1.01%.

Which ETF is better, EFAV or ACLO?

On 1-year performance, EFAV leads with 8.94% vs 5.32% for ACLO. Both ETFs have the same 0.20% expense ratio. On volatility, ACLO has been the lower-risk option at 0.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFAV or ACLO?

Over the 1-year period, EFAV has performed better with a 8.94% return vs 5.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFAV or ACLO?

EFAV and ACLO have the same expense ratio: 0.20% per year.

Which ETF pays a higher dividend yield, EFAV or ACLO?

ACLO has the higher dividend yield at 4.90%, compared with 3.28% for EFAV.

What is the main difference between EFAV and ACLO?

EFAV is categorized as Foreign Large Cap Equities, while ACLO is CLO. They also come from different issuers: iShares and TCW.

Which has better risk-adjusted returns?

ACLO currently has the higher Sharpe Ratio (7.36 vs 0.85), 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.