JMTG vs. ACLO

Last updated Jun 23, 2026

JMTG (JPMorgan Mortgage-Backed Securities ETF) and ACLO (TCW AAA CLO ETF) are both exchange-traded funds - JMTG is a Mortgage Backed Securities fund actively managed by JPMorgan, while ACLO is a CLO fund actively managed by TCW. Both are actively managed. At a correlation of -0.12, they often move in opposite directions. JMTG charges 0.24%/yr vs 0.20%/yr for ACLO.

Performance

JMTG vs. ACLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Mortgage-Backed Securities ETF (JMTG) 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, JMTG achieves a 0.71% return, which is significantly lower than ACLO's 2.41% return.

JMTG

• 1D: -0.14%
• 1M: 0.68%
• YTD: 0.71%
• 6M: 0.77%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ACLO

• 1D: 0.00%
• 1M: 0.41%
• YTD: 2.41%
• 6M: 2.53%
• 1Y: 5.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JMTG vs. ACLO - Yearly Performance Comparison

	2026 (YTD)	2025
JMTG JPMorgan Mortgage-Backed Securities ETF	0.71%	3.94%
ACLO TCW AAA CLO ETF	2.41%	2.70%

Correlation

The correlation between JMTG and ACLO is -0.12, 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 (All Time) Calculated using the full available price history since Jun 30, 2025	-0.12

Return for Risk

JMTG vs. ACLO — Risk / Return Rank

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

JMTG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

JMTG vs. ACLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mortgage-Backed Securities ETF (JMTG) 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.

	JMTG	ACLO	Difference
Sharpe ratio: Return per unit of total volatility	—	7.32	—
Sortino ratio: Return per unit of downside risk	—	15.16	—
Omega ratio: Gain probability vs. loss probability	—	3.44	—
Calmar ratio: Return relative to maximum drawdown	—	19.90	—
Martin ratio: Return relative to average drawdown	—	165.46	—

Drawdowns

JMTG vs. ACLO - Drawdown Comparison

The maximum JMTG drawdown since its inception was -2.78%, which is greater than ACLO's maximum drawdown of -1.01%. Use the drawdown chart below to compare losses from any high point for JMTG and ACLO.

Drawdown Indicators

	JMTG	ACLO	Difference
Max Drawdown Largest peak-to-trough decline	-2.78%	-1.01%	-1.77%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.27%	—
Current Drawdown Current decline from peak	-1.54%	0.00%	-1.54%
Average Drawdown Average peak-to-trough decline	-0.71%	-0.04%	-0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.03%	—

Volatility

Volatility by Period

	JMTG	ACLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.58%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.70%	0.73%	+2.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.70%	1.07%	+2.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.70%	1.07%	+2.63%

JMTG vs. ACLO - Expense Ratio Comparison

JMTG has a 0.24% expense ratio, which is higher than ACLO's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JMTG vs. ACLO - Dividend Comparison

JMTG's dividend yield for the trailing twelve months is around 3.91%, less than ACLO's 4.90% yield.

Position	TTM	2025	2024
ACLO TCW AAA CLO ETF	4.90%	4.87%	0.59%
JMTG JPMorgan Mortgage-Backed Securities ETF	3.91%	2.10%	0.00%

Frequently Asked Questions

Can I hold both JMTG and ACLO in my portfolio?

JMTG and ACLO have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JMTG or ACLO?

On fees, ACLO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JMTG or ACLO?

ACLO is cheaper with a 0.20% expense ratio, compared with 0.24% for JMTG.

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

ACLO has the higher dividend yield at 4.90%, compared with 3.91% for JMTG.

What is the main difference between JMTG and ACLO?

JMTG is categorized as Mortgage Backed Securities, while ACLO is CLO. They also come from different issuers: JPMorgan and TCW. Their fees differ too: 0.24% for JMTG and 0.20% for ACLO.