KEAT vs. ACLO

Last updated Jun 3, 2026

KEAT (Keating Active ETF) and ACLO (TCW AAA CLO ETF) are both exchange-traded funds - KEAT is a Global Allocation fund actively managed by Keating, while ACLO is a CLO fund actively managed by TCW. Both are actively managed. Over the past year, KEAT returned 25.85% vs 5.32% for ACLO. At a correlation of -0.03, they often move in opposite directions. KEAT charges 0.85%/yr vs 0.20%/yr for ACLO.

Performance

KEAT vs. ACLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Keating Active ETF (KEAT) 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, KEAT achieves a 9.85% return, which is significantly higher than ACLO's 2.19% return.

KEAT

• 1D: 0.47%
• 1M: -1.07%
• YTD: 9.85%
• 6M: 11.35%
• 1Y: 25.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ACLO

• 1D: 0.01%
• 1M: 0.44%
• YTD: 2.19%
• 6M: 2.57%
• 1Y: 5.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KEAT vs. ACLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KEAT Keating Active ETF	9.85%	22.76%	-3.30%
ACLO TCW AAA CLO ETF	2.19%	5.32%	0.81%

Correlation

The correlation between KEAT and ACLO is -0.10, 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	-0.10
Correlation (All Time) Calculated using the full available price history since Nov 19, 2024	-0.03

Return for Risk

KEAT vs. ACLO — Risk / Return Rank

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

KEAT

KEAT Risk / Return Rank: 75
KEAT Sharpe Ratio Rank: 77
KEAT Sortino Ratio Rank: 75
KEAT Omega Ratio Rank: 75
KEAT Calmar Ratio Rank: 83
KEAT Martin Ratio Rank: 67

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.

KEAT vs. ACLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Keating Active ETF (KEAT) 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.

	KEAT	ACLO	Difference
Sharpe ratio Return per unit of total volatility	2.54	7.30	-4.76
Sortino ratio Return per unit of downside risk	3.45	14.87	-11.42
Omega ratio Gain probability vs. loss probability	1.46	3.41	-1.95
Calmar ratio Return relative to maximum drawdown	4.48	19.64	-15.16
Martin ratio Return relative to average drawdown	12.50	162.50	-150.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KEAT vs. ACLO - Sharpe Ratio Comparison

The current KEAT Sharpe Ratio is 2.54, which is lower than the ACLO Sharpe Ratio of 7.30. The chart below compares the historical Sharpe Ratios of KEAT and ACLO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KEAT	ACLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	7.30	-4.76
Sharpe Ratio (All Time) Calculated using the full available price history	1.57	5.09	-3.53

Drawdowns

KEAT vs. ACLO - Drawdown Comparison

The maximum KEAT drawdown since its inception was -7.45%, which is greater than ACLO's maximum drawdown of -1.01%. Use the drawdown chart below to compare losses from any high point for KEAT and ACLO.

Drawdown Indicators

	KEAT	ACLO	Difference
Max Drawdown Largest peak-to-trough decline	-7.45%	-1.01%	-6.44%
Max Drawdown (1Y) Largest decline over 1 year	-6.04%	-0.27%	-5.77%
Current Drawdown Current decline from peak	-5.23%	0.00%	-5.23%
Average Drawdown Average peak-to-trough decline	-1.57%	-0.05%	-1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	0.03%	+2.13%

Volatility

KEAT vs. ACLO - Volatility Comparison

Keating Active ETF (KEAT) has a higher volatility of 2.47% compared to TCW AAA CLO ETF (ACLO) at 0.14%. This indicates that KEAT'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.

Volatility by Period

	KEAT	ACLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.47%	0.14%	+2.33%
Volatility (6M) Calculated over the trailing 6-month period	8.28%	0.57%	+7.71%
Volatility (1Y) Calculated over the trailing 1-year period	10.25%	0.73%	+9.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.27%	1.08%	+9.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.27%	1.08%	+9.19%

KEAT vs. ACLO - Expense Ratio Comparison

KEAT has a 0.85% expense ratio, which is higher than ACLO's 0.20% expense ratio.

Dividends

KEAT vs. ACLO - Dividend Comparison

KEAT's dividend yield for the trailing twelve months is around 2.24%, less than ACLO's 4.91% yield.

Position	TTM	2025	2024
ACLO TCW AAA CLO ETF	4.91%	4.87%	0.59%
KEAT Keating Active ETF	2.24%	2.48%	1.72%

Frequently Asked Questions

Can I hold both KEAT and ACLO in my portfolio?

KEAT and ACLO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KEAT or ACLO?

KEAT has higher volatility (2.47%) compared to ACLO (0.14%). In terms of maximum drawdown, KEAT dropped -7.45% vs ACLO's -1.01%.

Which ETF is better, KEAT or ACLO?

On 1-year performance, KEAT leads with 25.85% vs 5.32% for ACLO. On fees, ACLO is cheaper at 0.20% per year. On volatility, ACLO has been the lower-risk option at 0.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KEAT or ACLO?

Over the 1-year period, KEAT has performed better with a 25.85% return vs 5.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KEAT or ACLO?

ACLO is cheaper with a 0.20% expense ratio, compared with 0.85% for KEAT.

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

ACLO has the higher dividend yield at 4.91%, compared with 2.24% for KEAT.

What is the main difference between KEAT and ACLO?

KEAT is categorized as Global Allocation, while ACLO is CLO. They also come from different issuers: Keating and TCW. Their fees differ too: 0.85% for KEAT and 0.20% for ACLO.

Which has better risk-adjusted returns?

ACLO currently has the higher Sharpe Ratio (7.30 vs 2.54), 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.