EWS vs. ACLO
EWS (iShares MSCI Singapore ETF) and ACLO (TCW AAA CLO ETF) are both exchange-traded funds - EWS is a Asia Pacific Equities fund tracking the MSCI Singapore Index, while ACLO is a CLO fund actively managed by TCW. EWS is passively managed, while ACLO is actively managed. Over the past year, EWS returned 22.39% vs 5.33% for ACLO. At a correlation of -0.08, they often move in opposite directions. EWS charges 0.50%/yr vs 0.20%/yr for ACLO.
Performance
EWS vs. ACLO - Performance Comparison
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Returns By Period
In the year-to-date period, EWS achieves a 10.24% return, which is significantly higher than ACLO's 2.41% return.
EWS
- 1D
- 0.68%
- 1M
- 2.49%
- YTD
- 10.24%
- 6M
- 12.61%
- 1Y
- 22.39%
- 3Y*
- 21.19%
- 5Y*
- 10.58%
- 10Y*
- 8.02%
ACLO
- 1D
- 0.09%
- 1M
- 0.44%
- YTD
- 2.41%
- 6M
- 2.54%
- 1Y
- 5.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EWS vs. ACLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EWS iShares MSCI Singapore ETF | 10.24% | 31.35% | 0.23% |
ACLO TCW AAA CLO ETF | 2.41% | 5.32% | 0.81% |
Correlation
The correlation between EWS 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 | -0.08 |
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Return for Risk
EWS vs. ACLO — Risk / Return Rank
EWS
ACLO
EWS vs. ACLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Singapore ETF (EWS) 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.
| EWS | ACLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.89 | ||
| Sortino ratioReturn per unit of downside risk | -13.12 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 3.45 | -2.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 19.99 | -17.11 |
| Martin ratioReturn relative to average drawdown | 6.95 | 166.22 | -159.27 |
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Drawdowns
EWS vs. ACLO - Drawdown Comparison
The maximum EWS drawdown since its inception was -75.13%, which is greater than ACLO's maximum drawdown of -1.01%. Use the drawdown chart below to compare losses from any high point for EWS and ACLO.
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Drawdown Indicators
| EWS | ACLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.13% | -1.01% | -74.12% |
Max Drawdown (1Y)Largest decline over 1 year | -7.82% | -0.27% | -7.55% |
Max Drawdown (3Y)Largest decline over 3 years | -16.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.84% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -21.97% | -0.04% | -21.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 0.03% | +3.20% |
Volatility
EWS vs. ACLO - Volatility Comparison
iShares MSCI Singapore ETF (EWS) has a higher volatility of 5.23% compared to TCW AAA CLO ETF (ACLO) at 0.19%. This indicates that EWS'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.
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Volatility by Period
| EWS | ACLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.23% | 0.19% | +5.04% |
Volatility (6M)Calculated over the trailing 6-month period | 12.25% | 0.58% | +11.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.33% | 0.73% | +14.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.34% | 1.07% | +16.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.05% | 1.07% | +16.98% |
EWS vs. ACLO - Expense Ratio Comparison
EWS has a 0.50% expense ratio, which is higher than ACLO's 0.20% expense ratio.
Dividends
EWS vs. ACLO - Dividend Comparison
EWS's dividend yield for the trailing twelve months is around 3.98%, 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% |
EWS iShares MSCI Singapore ETF | 3.98% | 4.10% | 4.28% | 6.50% | 2.56% | 6.00% | 2.68% | 4.70% | 4.21% | 3.46% | 3.96% | 4.20% |
Frequently Asked Questions
EWS 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.
EWS has higher volatility (5.23%) compared to ACLO (0.19%). In terms of maximum drawdown, EWS dropped -75.13% vs ACLO's -1.01%.
On 1-year performance, EWS leads with 22.39% vs 5.33% for ACLO. On fees, ACLO is cheaper at 0.20% 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.
Over the 1-year period, EWS has performed better with a 22.39% return vs 5.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ACLO is cheaper with a 0.20% expense ratio, compared with 0.50% for EWS.
ACLO has the higher dividend yield at 4.90%, compared with 3.98% for EWS.
EWS is categorized as Asia Pacific Equities, while ACLO is CLO. They also come from different issuers: iShares and TCW. Their fees differ too: 0.50% for EWS and 0.20% for ACLO.
ACLO currently has the higher Sharpe Ratio (7.36 vs 1.47), 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.
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