ICLO vs. NOBL
Compare and contrast key facts about Invesco Aaa Clo Floating Rate Note ETF (ICLO) and ProShares S&P 500 Dividend Aristocrats ETF (NOBL).
ICLO and NOBL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ICLO is an actively managed fund by Invesco. It was launched on Dec 9, 2022. NOBL is a passively managed fund by ProShares that tracks the performance of the S&P 500 Dividend Aristocrats Index. It was launched on Oct 9, 2013.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ICLO or NOBL.
Key characteristics
| ICLO | NOBL | |
|---|---|---|
| YTD Return | 6.28% | 13.88% |
| 1Y Return | 8.06% | 24.97% |
| Sharpe Ratio | 6.66 | 2.52 |
| Sortino Ratio | 10.36 | 3.54 |
| Omega Ratio | 3.75 | 1.45 |
| Calmar Ratio | 13.15 | 2.70 |
| Martin Ratio | 106.66 | 11.59 |
| Ulcer Index | 0.08% | 2.25% |
| Daily Std Dev | 1.23% | 10.35% |
| Max Drawdown | -0.83% | -35.43% |
| Current Drawdown | 0.00% | -1.03% |
Correlation
The correlation between ICLO and NOBL is 0.03, 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.
Performance
ICLO vs. NOBL - Performance Comparison
In the year-to-date period, ICLO achieves a 6.28% return, which is significantly lower than NOBL's 13.88% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ICLO vs. NOBL - Expense Ratio Comparison
ICLO has a 0.26% expense ratio, which is lower than NOBL's 0.35% expense ratio.
Risk-Adjusted Performance
ICLO vs. NOBL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Aaa Clo Floating Rate Note ETF (ICLO) and ProShares S&P 500 Dividend Aristocrats ETF (NOBL). 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.
Dividends
ICLO vs. NOBL - Dividend Comparison
ICLO's dividend yield for the trailing twelve months is around 7.20%, more than NOBL's 1.98% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICLO Invesco Aaa Clo Floating Rate Note ETF | 7.20% | 7.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 1.98% | 2.09% | 1.94% | 1.89% | 2.14% | 1.89% | 2.37% | 1.74% | 2.13% | 2.02% | 1.60% | 0.30% |
Drawdowns
ICLO vs. NOBL - Drawdown Comparison
The maximum ICLO drawdown since its inception was -0.83%, smaller than the maximum NOBL drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for ICLO and NOBL. For additional features, visit the drawdowns tool.
Volatility
ICLO vs. NOBL - Volatility Comparison
The current volatility for Invesco Aaa Clo Floating Rate Note ETF (ICLO) is 0.21%, while ProShares S&P 500 Dividend Aristocrats ETF (NOBL) has a volatility of 2.94%. This indicates that ICLO experiences smaller price fluctuations and is considered to be less risky than NOBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.