KORP vs. CLOA
KORP (American Century Diversified Corporate Bond ETF) and CLOA (iShares AAA CLO Active ETF) are both exchange-traded funds - KORP is a Corporate Bonds fund actively managed by American Century, while CLOA is a CLO fund actively managed by BlackRock. Both are actively managed. Over the past 3 years, KORP returned 5.42%/yr vs 6.33%/yr for CLOA. Their 0.04 correlation means their historical movements had little consistent relationship. KORP charges 0.29%/yr vs 0.20%/yr for CLOA.
Performance
KORP vs. CLOA - Performance Comparison
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Returns By Period
In the year-to-date period, KORP achieves a -0.47% return, which is significantly lower than CLOA's 2.80% return.
KORP
- 1D
- -0.13%
- 1M
- -1.73%
- 6M
- -0.90%
- YTD
- -0.47%
- 1Y
- 2.17%
- 3Y*
- 5.42%
- 5Y*
- 1.29%
- 10Y*
- —
- ALL TIME*
- 2.63%
CLOA
- 1D
- 0.02%
- 1M
- 0.44%
- 6M
- 2.21%
- YTD
- 2.80%
- 1Y
- 5.11%
- 3Y*
- 6.33%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $22.46M | $20.73M | $21.32M | |
| $4.70M | $4.70M | $4.63M |
KORP vs. CLOA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
KORP American Century Diversified Corporate Bond ETF | -0.47% | 8.14% | 3.82% | 5.53% |
CLOA iShares AAA CLO Active ETF | 2.80% | 5.44% | 7.25% | 8.38% |
Correlation
The correlation between KORP and CLOA is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2023 | 0.04 |
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Return for Risk
KORP vs. CLOA — Risk / Return Rank
KORP
CLOA
KORP vs. CLOA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Diversified Corporate Bond ETF (KORP) and iShares AAA CLO Active 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.
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.
| KORP | CLOA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.96 | ||
| Sortino ratioReturn per unit of downside risk | -13.45 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 3.44 | -2.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 29.50 | -28.57 |
| Martin ratioReturn relative to average drawdown | 2.74 | 154.32 | -151.58 |
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Drawdowns
KORP vs. CLOA - Drawdown Comparison
The maximum KORP drawdown since its inception was -14.90%, which is greater than CLOA's maximum drawdown of -1.34%. Use the drawdown chart below to compare losses from any high point for KORP and CLOA.
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Drawdown Indicators
| KORP | CLOA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.90% | -1.34% | -13.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -0.18% | -3.04% |
Max Drawdown (3Y)Largest decline over 3 years | -5.04% | -1.13% | -3.91% |
Max Drawdown (5Y)Largest decline over 5 years | -14.90% | — | — |
Current DrawdownCurrent decline from peak | -2.21% | 0.00% | -2.21% |
Average DrawdownAverage peak-to-trough decline | -3.21% | -0.05% | -3.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 0.03% | +1.05% |
Volatility
KORP vs. CLOA - Volatility Comparison
American Century Diversified Corporate Bond ETF (KORP) has a higher volatility of 1.10% compared to iShares AAA CLO Active ETF (CLOA) at 0.16%. This indicates that KORP'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
| KORP | CLOA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.16% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 3.43% | 0.47% | +2.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.28% | 0.68% | +3.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.39% | 1.29% | +4.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.90% | 1.29% | +3.61% |
KORP vs. CLOA - Expense Ratio Comparison
KORP has a 0.29% expense ratio, which is higher than CLOA's 0.20% expense ratio.
Dividends
KORP vs. CLOA - Dividend Comparison
KORP's dividend yield for the trailing twelve months is around 5.20%, more than CLOA's 4.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CLOA iShares AAA CLO Active ETF | 4.44% | 5.35% | 6.01% | 5.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KORP American Century Diversified Corporate Bond ETF | 4.74% | 4.98% | 5.08% | 4.42% | 2.89% | 1.86% | 3.22% | 3.20% | 2.97% |
Frequently Asked Questions
KORP and CLOA 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.
KORP has higher volatility (1.10%) compared to CLOA (0.16%). In terms of maximum drawdown, KORP dropped -14.90% vs CLOA's -1.34%.
On 3-year performance, CLOA leads with 6.33% vs 5.42% for KORP. On fees, CLOA is cheaper at 0.20% per year. On volatility, CLOA has been the lower-risk option at 0.16%. 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 6.33% return vs 5.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CLOA is cheaper with a 0.20% expense ratio, compared with 0.29% for KORP.
KORP has the higher dividend yield at 4.74%, compared with 4.44% for CLOA.
KORP is categorized as Corporate Bonds, while CLOA is CLO. They also come from different issuers: American Century and BlackRock. Their fees differ too: 0.29% for KORP and 0.20% for CLOA.
CLOA currently has the higher Sharpe Ratio (7.65 vs 0.69), 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.
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