NEAR vs. CLOZ
NEAR (iShares Short Duration Bond Active ETF) and CLOZ (Panagram BBB-B CLO ETF) are both exchange-traded funds - NEAR is a Short-Term Bond fund actively managed by iShares, while CLOZ is a CLO fund actively managed by Panagram. Both are actively managed. Over the past 3 years, NEAR returned 5.54%/yr vs 10.45%/yr for CLOZ. At a correlation of -0.03, they often move in opposite directions. NEAR charges 0.25%/yr vs 0.50%/yr for CLOZ.
Performance
NEAR vs. CLOZ - Performance Comparison
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Returns By Period
In the year-to-date period, NEAR achieves a 0.53% return, which is significantly lower than CLOZ's 2.44% return.
NEAR
- 1D
- -0.02%
- 1M
- -0.18%
- YTD
- 0.53%
- 6M
- 1.05%
- 1Y
- 4.12%
- 3Y*
- 5.54%
- 5Y*
- 3.81%
- 10Y*
- 2.82%
CLOZ
- 1D
- 0.04%
- 1M
- 0.39%
- YTD
- 2.44%
- 6M
- 2.91%
- 1Y
- 6.07%
- 3Y*
- 10.45%
- 5Y*
- —
- 10Y*
- —
NEAR vs. CLOZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NEAR iShares Short Duration Bond Active ETF | 0.53% | 5.90% | 5.09% | 6.88% |
CLOZ Panagram BBB-B CLO ETF | 2.44% | 5.99% | 11.85% | 14.92% |
Correlation
The correlation between NEAR and CLOZ is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2023 | -0.03 |
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Return for Risk
NEAR vs. CLOZ — Risk / Return Rank
NEAR
CLOZ
NEAR vs. CLOZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Duration Bond Active ETF (NEAR) and Panagram BBB-B CLO ETF (CLOZ). 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.
| NEAR | CLOZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +2.54 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.45 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.65 | 1.56 | +2.09 |
| Martin ratioReturn relative to average drawdown | 16.68 | 5.19 | +11.49 |
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
| NEAR | CLOZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.05 | 1.77 | +1.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.86 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.14 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.08 | 2.75 | -1.67 |
Drawdowns
NEAR vs. CLOZ - Drawdown Comparison
The maximum NEAR drawdown since its inception was -9.61%, which is greater than CLOZ's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for NEAR and CLOZ.
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Drawdown Indicators
| NEAR | CLOZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.61% | -5.32% | -4.29% |
Max Drawdown (1Y)Largest decline over 1 year | -1.13% | -3.90% | +2.77% |
Max Drawdown (3Y)Largest decline over 3 years | -1.16% | -5.32% | +4.16% |
Max Drawdown (5Y)Largest decline over 5 years | -1.32% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -9.61% | — | — |
Current DrawdownCurrent decline from peak | -0.29% | -0.21% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -0.38% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 1.17% | -0.92% |
Volatility
NEAR vs. CLOZ - Volatility Comparison
The current volatility for iShares Short Duration Bond Active ETF (NEAR) is 0.40%, while Panagram BBB-B CLO ETF (CLOZ) has a volatility of 0.47%. This indicates that NEAR experiences smaller price fluctuations and is considered to be less risky than CLOZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NEAR | CLOZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 0.47% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 1.01% | 3.13% | -2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.36% | 3.44% | -2.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.34% | 3.80% | -2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.50% | 3.80% | -1.30% |
NEAR vs. CLOZ - Expense Ratio Comparison
NEAR has a 0.25% expense ratio, which is lower than CLOZ's 0.50% expense ratio.
Dividends
NEAR vs. CLOZ - Dividend Comparison
NEAR's dividend yield for the trailing twelve months is around 4.44%, less than CLOZ's 7.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLOZ Panagram BBB-B CLO ETF | 7.40% | 7.63% | 9.09% | 8.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NEAR iShares Short Duration Bond Active ETF | 4.44% | 4.54% | 5.00% | 4.59% | 1.78% | 0.76% | 1.53% | 2.69% | 2.25% | 1.52% | 1.07% | 0.85% |
Frequently Asked Questions
NEAR and CLOZ have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CLOZ has higher volatility (0.47%) compared to NEAR (0.40%). In terms of maximum drawdown, NEAR dropped -9.61% vs CLOZ's -5.32%.
On 3-year performance, CLOZ leads with 10.45% vs 5.54% for NEAR. On fees, NEAR is cheaper at 0.25% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CLOZ has performed better with a 10.45% return vs 5.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NEAR is cheaper with a 0.25% expense ratio, compared with 0.50% for CLOZ.
CLOZ has the higher dividend yield at 7.40%, compared with 4.44% for NEAR.
NEAR is categorized as Short-Term Bond, while CLOZ is CLO. They also come from different issuers: iShares and Panagram. Their fees differ too: 0.25% for NEAR and 0.50% for CLOZ.
NEAR currently has the higher Sharpe Ratio (3.05 vs 1.77), 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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