NCLO vs. VOO
Compare and contrast key facts about Nuveen AA-BBB CLO ETF (NCLO) and Vanguard S&P 500 ETF (VOO).
NCLO and VOO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NCLO is a passively managed fund by Nuveen that tracks the performance of the JP Morgan CLO A Index. It was launched on Dec 10, 2024. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010. Both NCLO and VOO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
NCLO vs. VOO - Performance Comparison
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NCLO vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NCLO Nuveen AA-BBB CLO ETF | 0.37% | 6.28% | 0.35% |
VOO Vanguard S&P 500 ETF | -4.42% | 17.82% | -3.22% |
Returns By Period
In the year-to-date period, NCLO achieves a 0.37% return, which is significantly higher than VOO's -4.42% return.
NCLO
- 1D
- 0.12%
- 1M
- -0.08%
- YTD
- 0.37%
- 6M
- 2.12%
- 1Y
- 5.53%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VOO
- 1D
- 2.86%
- 1M
- -5.01%
- YTD
- -4.42%
- 6M
- -1.84%
- 1Y
- 17.67%
- 3Y*
- 18.27%
- 5Y*
- 11.75%
- 10Y*
- 14.05%
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NCLO vs. VOO - Expense Ratio Comparison
NCLO has a 0.26% expense ratio, which is higher than VOO's 0.03% 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%.
Return for Risk
NCLO vs. VOO — Risk / Return Rank
NCLO
VOO
NCLO vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen AA-BBB CLO ETF (NCLO) and Vanguard S&P 500 ETF (VOO). 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.
| NCLO | VOO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.31 | 0.98 | +0.33 |
Sortino ratioReturn per unit of downside risk | 1.73 | 1.50 | +0.24 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.23 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 1.88 | 1.53 | +0.35 |
Martin ratioReturn relative to average drawdown | 11.07 | 7.29 | +3.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NCLO | VOO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | 0.98 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.70 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.45 | 0.83 | +0.61 |
Correlation
The correlation between NCLO and VOO is 0.18, 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.
Dividends
NCLO vs. VOO - Dividend Comparison
NCLO's dividend yield for the trailing twelve months is around 5.99%, more than VOO's 1.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCLO Nuveen AA-BBB CLO ETF | 5.99% | 6.09% | 0.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VOO Vanguard S&P 500 ETF | 1.19% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Drawdowns
NCLO vs. VOO - Drawdown Comparison
The maximum NCLO drawdown since its inception was -3.05%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for NCLO and VOO.
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Drawdown Indicators
| NCLO | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.05% | -33.99% | +30.94% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -11.98% | +8.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.52% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.99% | — |
Current DrawdownCurrent decline from peak | -0.48% | -6.29% | +5.81% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -3.72% | +3.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 2.52% | -2.00% |
Volatility
NCLO vs. VOO - Volatility Comparison
The current volatility for Nuveen AA-BBB CLO ETF (NCLO) is 3.04%, while Vanguard S&P 500 ETF (VOO) has a volatility of 5.29%. This indicates that NCLO experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCLO | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.04% | 5.29% | -2.25% |
Volatility (6M)Calculated over the trailing 6-month period | 3.29% | 9.44% | -6.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.23% | 18.10% | -13.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.77% | 16.82% | -13.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.77% | 17.99% | -14.22% |