FLRN vs. CLOA
FLRN (SPDR Bloomberg Barclays Investment Grade Floating Rate ETF) and CLOA (BlackRock AAA CLO ETF) are both exchange-traded funds - FLRN is a Corporate Bonds fund tracking the Bloomberg US Floating Rate Notes (<5 Y), while CLOA is a CLO fund actively managed by BlackRock. FLRN is passively managed, while CLOA is actively managed. Over the past 3 years, FLRN returned 5.67%/yr vs 6.74%/yr for CLOA. At a 0.10 correlation, their price movements are largely independent. FLRN charges 0.15%/yr vs 0.20%/yr for CLOA.
Performance
FLRN vs. CLOA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FLRN achieves a 1.87% return, which is significantly lower than CLOA's 2.06% return.
FLRN
- 1D
- 0.03%
- 1M
- 0.45%
- YTD
- 1.87%
- 6M
- 2.19%
- 1Y
- 4.88%
- 3Y*
- 5.67%
- 5Y*
- 4.19%
- 10Y*
- 3.03%
CLOA
- 1D
- 0.02%
- 1M
- 0.44%
- YTD
- 2.06%
- 6M
- 2.51%
- 1Y
- 5.28%
- 3Y*
- 6.74%
- 5Y*
- —
- 10Y*
- —
FLRN vs. CLOA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 1.87% | 5.01% | 6.32% | 6.36% |
CLOA BlackRock AAA CLO ETF | 2.06% | 5.44% | 7.25% | 8.38% |
Correlation
The correlation between FLRN and CLOA 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 (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2023 | 0.10 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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 | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 3.44 | 3.34 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 21.54 | 30.02 | -8.48 |
| Martin ratioReturn relative to average drawdown | 130.06 | 150.47 | -20.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FLRN | CLOA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.18 | 7.45 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.50 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 5.22 | -4.72 |
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.
Loading charts...
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 | -0.23% | -0.18% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -1.43% | -1.13% | -0.30% |
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 | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.83% | -0.05% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 0.04% | 0.00% |
Volatility
FLRN vs. CLOA - Volatility Comparison
SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) and BlackRock AAA CLO ETF (CLOA) have volatilities of 0.15% and 0.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FLRN | CLOA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 0.15% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 0.52% | 0.48% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.68% | 0.71% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.69% | 1.32% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.20% | 1.32% | +2.88% |
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%.
Dividends
FLRN vs. CLOA - Dividend Comparison
FLRN's dividend yield for the trailing twelve months is around 4.51%, less than CLOA's 4.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLOA BlackRock AAA CLO ETF | 4.96% | 5.35% | 6.01% | 5.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 4.51% | 4.89% | 5.67% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% |
Frequently Asked Questions
FLRN and CLOA 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.
CLOA has higher volatility (0.15%) compared to FLRN (0.15%). In terms of maximum drawdown, FLRN dropped -14.64% vs CLOA's -1.34%.
On 3-year performance, CLOA leads with 6.74% vs 5.67% for FLRN. On fees, FLRN is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CLOA has performed better with a 6.74% return vs 5.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLRN is cheaper with a 0.15% expense ratio, compared with 0.20% for CLOA.
CLOA has the higher dividend yield at 4.96%, compared with 4.51% for FLRN.
FLRN is categorized as Corporate Bonds, while CLOA is CLO. They also come from different issuers: State Street and BlackRock. Their fees differ too: 0.15% for FLRN and 0.20% for CLOA.
CLOA currently has the higher Sharpe Ratio (7.45 vs 7.18), 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.
Find the right allocation for FLRN and CLOA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer