ERNZ vs. CLOI

Last updated Jun 4, 2026

ERNZ (TrueShares Active Yield ETF) and CLOI (VanEck CLO ETF) are both exchange-traded funds - ERNZ is a Large Cap Blend Equities fund actively managed by TrueShares, while CLOI is a CLO fund actively managed by VanEck. Both are actively managed. Over the past year, ERNZ returned 2.28% vs 5.46% for CLOI. At a 0.07 correlation, their price movements are largely independent. ERNZ charges 0.75%/yr vs 0.40%/yr for CLOI.

Performance

ERNZ vs. CLOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Active Yield ETF (ERNZ) and VanEck CLO ETF (CLOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERNZ achieves a 4.89% return, which is significantly higher than CLOI's 2.06% return.

ERNZ

• 1D: 0.00%
• 1M: 0.00%
• YTD: 4.89%
• 6M: 3.58%
• 1Y: 2.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLOI

• 1D: 0.00%
• 1M: 0.56%
• YTD: 2.06%
• 6M: 2.48%
• 1Y: 5.46%
• 3Y*: 7.11%
• 5Y*: —
• 10Y*: —

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

ERNZ vs. CLOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ERNZ TrueShares Active Yield ETF	4.89%	-6.50%	3.43%
CLOI VanEck CLO ETF	2.06%	5.84%	4.93%

Correlation

The correlation between ERNZ and CLOI 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 (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (All Time) Calculated using the full available price history since May 2, 2024	0.07

The correlation between ERNZ and CLOI shifts across timeframes, from -0.07 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ERNZ vs. CLOI — Risk / Return Rank

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

ERNZ

ERNZ Risk / Return Rank: 12
ERNZ Sharpe Ratio Rank: 12
ERNZ Sortino Ratio Rank: 12
ERNZ Omega Ratio Rank: 12
ERNZ Calmar Ratio Rank: 11
ERNZ Martin Ratio Rank: 11

CLOI

CLOI Risk / Return Rank: 97
CLOI Sharpe Ratio Rank: 97
CLOI Sortino Ratio Rank: 98
CLOI Omega Ratio Rank: 98
CLOI Calmar Ratio Rank: 96
CLOI Martin Ratio Rank: 97

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.

ERNZ vs. CLOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Active Yield ETF (ERNZ) and VanEck CLO ETF (CLOI). 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.

	ERNZ	CLOI	Difference
Sharpe ratio: Return per unit of total volatility	0.24	4.64	-4.40
Sortino ratio: Return per unit of downside risk	0.42	7.30	-6.88
Omega ratio: Gain probability vs. loss probability	1.05	2.14	-1.08
Calmar ratio: Return relative to maximum drawdown	0.22	8.79	-8.57
Martin ratio: Return relative to average drawdown	0.47	41.57	-41.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ERNZ vs. CLOI - Sharpe Ratio Comparison

The current ERNZ Sharpe Ratio is 0.24, which is lower than the CLOI Sharpe Ratio of 4.64. The chart below compares the historical Sharpe Ratios of ERNZ and CLOI, 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

	ERNZ	CLOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.24	4.64	-4.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	2.76	-2.71

Drawdowns

ERNZ vs. CLOI - Drawdown Comparison

The maximum ERNZ drawdown since its inception was -14.16%, which is greater than CLOI's maximum drawdown of -3.25%. Use the drawdown chart below to compare losses from any high point for ERNZ and CLOI.

Drawdown Indicators

	ERNZ	CLOI	Difference
Max Drawdown Largest peak-to-trough decline	-14.16%	-3.25%	-10.91%
Max Drawdown (1Y) Largest decline over 1 year	-10.61%	-0.62%	-9.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.25%	—
Current Drawdown Current decline from peak	-5.59%	0.00%	-5.59%
Average Drawdown Average peak-to-trough decline	-4.58%	-0.19%	-4.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.88%	0.13%	+4.75%

Volatility

ERNZ vs. CLOI - Volatility Comparison

The current volatility for TrueShares Active Yield ETF (ERNZ) is 0.00%, while VanEck CLO ETF (CLOI) has a volatility of 0.14%. This indicates that ERNZ experiences smaller price fluctuations and is considered to be less risky than CLOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERNZ	CLOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	0.14%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	4.40%	0.67%	+3.73%
Volatility (1Y) Calculated over the trailing 1-year period	9.75%	1.18%	+8.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.77%	2.55%	+9.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.77%	2.55%	+9.22%

ERNZ vs. CLOI - Expense Ratio Comparison

ERNZ has a 0.75% expense ratio, which is higher than CLOI's 0.40% expense ratio.

Dividends

ERNZ vs. CLOI - Dividend Comparison

ERNZ's dividend yield for the trailing twelve months is around 6.37%, more than CLOI's 5.35% yield.

Position	TTM	2025	2024	2023	2022
CLOI VanEck CLO ETF	5.35%	5.61%	6.71%	5.61%	2.23%
ERNZ TrueShares Active Yield ETF	6.37%	9.90%	5.51%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ERNZ and CLOI in my portfolio?

ERNZ and CLOI 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 is riskier, ERNZ or CLOI?

CLOI has higher volatility (0.14%) compared to ERNZ (0.00%). In terms of maximum drawdown, ERNZ dropped -14.16% vs CLOI's -3.25%.

Which ETF is better, ERNZ or CLOI?

On 1-year performance, CLOI leads with 5.46% vs 2.28% for ERNZ. On fees, CLOI is cheaper at 0.40% per year. On volatility, ERNZ has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ERNZ or CLOI?

Over the 1-year period, CLOI has performed better with a 5.46% return vs 2.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ERNZ or CLOI?

CLOI is cheaper with a 0.40% expense ratio, compared with 0.75% for ERNZ.

Which ETF pays a higher dividend yield, ERNZ or CLOI?

ERNZ has the higher dividend yield at 6.37%, compared with 5.35% for CLOI.

What is the main difference between ERNZ and CLOI?

ERNZ is categorized as Large Cap Blend Equities, while CLOI is CLO. They also come from different issuers: TrueShares and VanEck. Their fees differ too: 0.75% for ERNZ and 0.40% for CLOI.

Which has better risk-adjusted returns?

CLOI currently has the higher Sharpe Ratio (4.64 vs 0.24), 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.