FLRN vs. CLOA
Compare and contrast key facts about SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) and BlackRock AAA CLO ETF (CLOA).
FLRN and CLOA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLRN is a passively managed fund by State Street that tracks the performance of the Bloomberg US Floating Rate Notes (<5 Y). It was launched on Nov 30, 2011. CLOA is an actively managed fund by BlackRock. It was launched on Jan 10, 2023.
Performance
FLRN vs. CLOA - Performance Comparison
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FLRN vs. CLOA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 0.77% | 5.01% | 6.32% | 6.36% |
CLOA BlackRock AAA CLO ETF | 1.03% | 5.44% | 7.25% | 8.38% |
Returns By Period
In the year-to-date period, FLRN achieves a 0.77% return, which is significantly lower than CLOA's 1.03% return.
FLRN
- 1D
- -0.07%
- 1M
- 0.09%
- YTD
- 0.77%
- 6M
- 1.91%
- 1Y
- 4.50%
- 3Y*
- 5.86%
- 5Y*
- 3.99%
- 10Y*
- 2.98%
CLOA
- 1D
- 0.08%
- 1M
- 0.45%
- YTD
- 1.03%
- 6M
- 2.32%
- 1Y
- 5.44%
- 3Y*
- 6.90%
- 5Y*
- —
- 10Y*
- —
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FLRN vs. CLOA - Expense Ratio Comparison
FLRN has a 0.15% expense ratio, which is lower than CLOA'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%.
Return for Risk
FLRN vs. CLOA — Risk / Return Rank
FLRN
CLOA
FLRN vs. CLOA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) and BlackRock AAA CLO ETF (CLOA). 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.
| FLRN | CLOA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.49 | 3.33 | -0.84 |
Sortino ratioReturn per unit of downside risk | 3.11 | 4.52 | -1.41 |
Omega ratioGain probability vs. loss probability | 2.05 | 2.21 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 3.21 | 5.03 | -1.82 |
Martin ratioReturn relative to average drawdown | 26.27 | 36.40 | -10.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLRN | CLOA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 3.33 | -0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.38 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 5.13 | -4.65 |
Correlation
The correlation between FLRN and CLOA is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FLRN vs. CLOA - Dividend Comparison
FLRN's dividend yield for the trailing twelve months is around 4.65%, less than CLOA's 5.12% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 4.65% | 4.89% | 5.67% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% |
CLOA BlackRock AAA CLO ETF | 5.12% | 5.35% | 6.01% | 5.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FLRN vs. CLOA - Drawdown Comparison
The maximum FLRN drawdown since its inception was -14.64%, which is greater than CLOA's maximum drawdown of -1.34%. Use the drawdown chart below to compare losses from any high point for FLRN and CLOA.
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Drawdown Indicators
| FLRN | CLOA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.64% | -1.34% | -13.30% |
Max Drawdown (1Y)Largest decline over 1 year | -1.43% | -1.10% | -0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -2.16% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.64% | — | — |
Current DrawdownCurrent decline from peak | -0.07% | 0.00% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -1.85% | -0.06% | -1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.17% | 0.15% | +0.02% |
Volatility
FLRN vs. CLOA - Volatility Comparison
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) has a higher volatility of 0.36% compared to BlackRock AAA CLO ETF (CLOA) at 0.27%. This indicates that FLRN's price experiences larger fluctuations and is considered to be riskier than CLOA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLRN | CLOA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 0.27% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 0.55% | 0.51% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.82% | 1.64% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.69% | 1.35% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.21% | 1.35% | +2.86% |