EVSB vs. CLOZ

Last updated Apr 1, 2026

Compare and contrast key facts about Eaton Vance Ultra-Short Income ETF (EVSB) and Panagram Bbb-B Clo ETF (CLOZ).

EVSB and CLOZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EVSB is an actively managed fund by Eaton Vance. It was launched on Oct 16, 2023. CLOZ is an actively managed fund by Panagram. It was launched on Jan 23, 2023.

Performance

EVSB vs. CLOZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Ultra-Short Income ETF (EVSB) and Panagram Bbb-B Clo ETF (CLOZ). The values are adjusted to include any dividend payments, if applicable.

EVSB vs. CLOZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EVSB Eaton Vance Ultra-Short Income ETF	0.90%	5.12%	6.04%	1.84%
CLOZ Panagram Bbb-B Clo ETF	-1.92%	5.99%	11.85%	3.43%

Returns By Period

In the year-to-date period, EVSB achieves a 0.90% return, which is significantly higher than CLOZ's -1.92% return.

EVSB

• 1D: 0.04%
• 1M: 0.16%
• YTD: 0.90%
• 6M: 2.04%
• 1Y: 4.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLOZ

• 1D: 0.31%
• 1M: 0.39%
• YTD: -1.92%
• 6M: -0.71%
• 1Y: 4.26%
• 3Y*: 9.76%
• 5Y*: —
• 10Y*: —

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

EVSB vs. CLOZ - Expense Ratio Comparison

EVSB has a 0.17% expense ratio, which is lower than CLOZ's 0.50% expense ratio.

CLOZ

Panagram Bbb-B Clo ETF

EVSB

Eaton Vance Ultra-Short Income ETF

Return for Risk

EVSB vs. CLOZ — Risk / Return Rank

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

EVSB

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

CLOZ

CLOZ Risk / Return Rank: 47
CLOZ Sharpe Ratio Rank: 45
CLOZ Sortino Ratio Rank: 39
CLOZ Omega Ratio Rank: 64
CLOZ Calmar Ratio Rank: 47
CLOZ Martin Ratio Rank: 41

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.

EVSB vs. CLOZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Ultra-Short Income ETF (EVSB) and Panagram Bbb-B Clo ETF (CLOZ). 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.

	EVSB	CLOZ	Difference
Sharpe ratio Return per unit of total volatility	5.33	0.78	+4.55
Sortino ratio Return per unit of downside risk	8.80	1.04	+7.76
Omega ratio Gain probability vs. loss probability	2.52	1.22	+1.30
Calmar ratio Return relative to maximum drawdown	15.04	1.10	+13.94
Martin ratio Return relative to average drawdown	85.60	3.53	+82.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVSB vs. CLOZ - Sharpe Ratio Comparison

The current EVSB Sharpe Ratio is 5.33, which is higher than the CLOZ Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of EVSB and CLOZ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EVSB	CLOZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.33	0.78	+4.55
Sharpe Ratio (All Time) Calculated using the full available price history	6.97	2.51	+4.46

Correlation

The correlation between EVSB and CLOZ is -0.05. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

EVSB vs. CLOZ - Dividend Comparison

EVSB's dividend yield for the trailing twelve months is around 4.68%, less than CLOZ's 7.97% yield.

	TTM	2025	2024	2023
EVSB Eaton Vance Ultra-Short Income ETF	4.68%	4.63%	5.18%	1.21%
CLOZ Panagram Bbb-B Clo ETF	7.97%	7.63%	9.09%	8.81%

Drawdowns

EVSB vs. CLOZ - Drawdown Comparison

The maximum EVSB drawdown since its inception was -0.31%, smaller than the maximum CLOZ drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for EVSB and CLOZ.

Drawdown Indicators

	EVSB	CLOZ	Difference
Max Drawdown Largest peak-to-trough decline	-0.31%	-5.32%	+5.01%
Max Drawdown (1Y) Largest decline over 1 year	-0.31%	-3.90%	+3.59%
Current Drawdown Current decline from peak	0.00%	-3.15%	+3.15%
Average Drawdown Average peak-to-trough decline	-0.02%	-0.36%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	1.22%	-1.16%

Volatility

EVSB vs. CLOZ - Volatility Comparison

The current volatility for Eaton Vance Ultra-Short Income ETF (EVSB) is 0.22%, while Panagram Bbb-B Clo ETF (CLOZ) has a volatility of 1.35%. This indicates that EVSB experiences smaller price fluctuations and is considered to be less risky than CLOZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVSB	CLOZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.22%	1.35%	-1.13%
Volatility (6M) Calculated over the trailing 6-month period	0.50%	2.90%	-2.40%
Volatility (1Y) Calculated over the trailing 1-year period	0.88%	5.48%	-4.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.83%	3.82%	-2.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.83%	3.82%	-2.99%