EWJV vs. ACLO

Last updated Jun 24, 2026

EWJV (iShares MSCI Japan Value ETF) and ACLO (TCW AAA CLO ETF) are both exchange-traded funds - EWJV is a Japan Equities fund tracking the MSCI Japan Value Index, while ACLO is a CLO fund actively managed by TCW. EWJV is passively managed, while ACLO is actively managed. Over the past year, EWJV returned 37.31% vs 5.27% for ACLO. At a correlation of -0.05, they often move in opposite directions. EWJV charges 0.15%/yr vs 0.20%/yr for ACLO.

Performance

EWJV vs. ACLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Japan Value ETF (EWJV) 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, EWJV achieves a 12.37% return, which is significantly higher than ACLO's 2.44% return.

EWJV

• 1D: -3.02%
• 1M: -1.22%
• YTD: 12.37%
• 6M: 11.97%
• 1Y: 37.31%
• 3Y*: 22.92%
• 5Y*: 13.50%
• 10Y*: —

ACLO

• 1D: 0.03%
• 1M: 0.44%
• YTD: 2.44%
• 6M: 2.55%
• 1Y: 5.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EWJV vs. ACLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EWJV iShares MSCI Japan Value ETF	12.37%	33.96%	1.04%
ACLO TCW AAA CLO ETF	2.44%	5.32%	0.81%

Correlation

The correlation between EWJV and ACLO is -0.14, 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	-0.14
Correlation (All Time) Calculated using the full available price history since Nov 18, 2024	-0.05

Return for Risk

EWJV vs. ACLO — Risk / Return Rank

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

EWJV

EWJV Risk / Return Rank: 56
EWJV Sharpe Ratio Rank: 59
EWJV Sortino Ratio Rank: 59
EWJV Omega Ratio Rank: 60
EWJV Calmar Ratio Rank: 54
EWJV Martin Ratio Rank: 47

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.

EWJV vs. ACLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan Value ETF (EWJV) 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.

	EWJV	ACLO	Difference
Sharpe ratio: Return per unit of total volatility	1.90	7.28	-5.38
Sortino ratio: Return per unit of downside risk	2.67	15.06	-12.38
Omega ratio: Gain probability vs. loss probability	1.35	3.42	-2.07
Calmar ratio: Return relative to maximum drawdown	2.54	19.77	-17.22
Martin ratio: Return relative to average drawdown	7.55	164.39	-156.84

EWJV vs. ACLO - Sharpe Ratio Comparison

The current EWJV Sharpe Ratio is 1.90, which is lower than the ACLO Sharpe Ratio of 7.28. The chart below compares the historical Sharpe Ratios of EWJV 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

EWJV vs. ACLO - Drawdown Comparison

The maximum EWJV drawdown since its inception was -30.05%, which is greater than ACLO's maximum drawdown of -1.01%. Use the drawdown chart below to compare losses from any high point for EWJV and ACLO.

Drawdown Indicators

	EWJV	ACLO	Difference
Max Drawdown Largest peak-to-trough decline	-30.05%	-1.01%	-29.04%
Max Drawdown (1Y) Largest decline over 1 year	-14.74%	-0.27%	-14.47%
Max Drawdown (3Y) Largest decline over 3 years	-14.74%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.39%	—	—
Current Drawdown Current decline from peak	-6.17%	0.00%	-6.17%
Average Drawdown Average peak-to-trough decline	-6.18%	-0.04%	-6.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.96%	0.03%	+4.93%

Volatility

EWJV vs. ACLO - Volatility Comparison

iShares MSCI Japan Value ETF (EWJV) has a higher volatility of 5.81% compared to TCW AAA CLO ETF (ACLO) at 0.19%. This indicates that EWJV'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

	EWJV	ACLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.81%	0.19%	+5.62%
Volatility (6M) Calculated over the trailing 6-month period	15.22%	0.58%	+14.64%
Volatility (1Y) Calculated over the trailing 1-year period	19.70%	0.73%	+18.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.07%	1.07%	+17.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.57%	1.07%	+17.50%

EWJV vs. ACLO - Expense Ratio Comparison

EWJV has a 0.15% expense ratio, which is lower than ACLO's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EWJV vs. ACLO - Dividend Comparison

EWJV's dividend yield for the trailing twelve months is around 5.06%, more than ACLO's 4.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ACLO TCW AAA CLO ETF	4.90%	4.87%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%
EWJV iShares MSCI Japan Value ETF	5.06%	5.35%	4.10%	3.32%	2.71%	2.46%	1.96%	4.29%

Frequently Asked Questions

Can I hold both EWJV and ACLO in my portfolio?

EWJV and ACLO have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWJV or ACLO?

EWJV has higher volatility (5.81%) compared to ACLO (0.19%). In terms of maximum drawdown, EWJV dropped -30.05% vs ACLO's -1.01%.

Which ETF is better, EWJV or ACLO?

On 1-year performance, EWJV leads with 37.31% vs 5.27% for ACLO. On fees, EWJV is cheaper at 0.15% per year. On volatility, ACLO has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWJV or ACLO?

Over the 1-year period, EWJV has performed better with a 37.31% return vs 5.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWJV or ACLO?

EWJV is cheaper with a 0.15% expense ratio, compared with 0.20% for ACLO.

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

EWJV has the higher dividend yield at 5.06%, compared with 4.90% for ACLO.

What is the main difference between EWJV and ACLO?

EWJV is categorized as Japan Equities, while ACLO is CLO. They also come from different issuers: iShares and TCW. Their fees differ too: 0.15% for EWJV and 0.20% for ACLO.

Which has better risk-adjusted returns?

ACLO currently has the higher Sharpe Ratio (7.28 vs 1.90), 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.