NISM vs. CLOO

Last updated Jul 8, 2026

NISM (NYLI International Small-Mid Cap Equity ETF) and CLOO (NYLI Investment Grade CLO ETF) are both exchange-traded funds - NISM is a Foreign Small & Mid Cap Equities fund actively managed by New York Life Investment Management, while CLOO is a CLO fund actively managed by New York Life Investment Management. Both are actively managed. At a 0.08 correlation, their price movements are largely independent. NISM charges 0.70%/yr vs 0.25%/yr for CLOO.

Performance

NISM vs. CLOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI International Small-Mid Cap Equity ETF (NISM) and NYLI Investment Grade CLO ETF (CLOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NISM

• 1D: -1.87%
• 1M: 1.42%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLOO

• 1D: 0.00%
• 1M: 0.44%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NISM vs. CLOO - Yearly Performance Comparison

	2026 (YTD)
NISM NYLI International Small-Mid Cap Equity ETF	-1.93%
CLOO NYLI Investment Grade CLO ETF	0.80%

Correlation

The correlation between NISM and CLOO is 0.08, 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 (All Time) Calculated using the full available price history since May 13, 2026	0.08

Return for Risk

NISM vs. CLOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI International Small-Mid Cap Equity ETF (NISM) and NYLI Investment Grade CLO ETF (CLOO). 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.

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

Drawdowns

NISM vs. CLOO - Drawdown Comparison

The maximum NISM drawdown since its inception was -4.35%, which is greater than CLOO's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for NISM and CLOO.

Drawdown Indicators

	NISM	CLOO	Difference
Max Drawdown Largest peak-to-trough decline	-4.35%	-0.04%	-4.31%
Current Drawdown Current decline from peak	-2.00%	0.00%	-2.00%
Average Drawdown Average peak-to-trough decline	-1.68%	-0.00%	-1.68%

Volatility

Volatility by Period

	NISM	CLOO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.55%	0.50%	+14.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.55%	0.50%	+14.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.55%	0.50%	+14.05%

NISM vs. CLOO - Expense Ratio Comparison

NISM has a 0.70% expense ratio, which is higher than CLOO's 0.25% expense ratio.

Dividends

NISM vs. CLOO - Dividend Comparison

NISM's dividend yield for the trailing twelve months is around 0.24%, less than CLOO's 0.59% yield.

Position	TTM
CLOO NYLI Investment Grade CLO ETF	0.59%
NISM NYLI International Small-Mid Cap Equity ETF	0.24%

Frequently Asked Questions

Can I hold both NISM and CLOO in my portfolio?

NISM and CLOO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NISM or CLOO?

On fees, CLOO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NISM or CLOO?

CLOO is cheaper with a 0.25% expense ratio, compared with 0.70% for NISM.

Which ETF pays a higher dividend yield, NISM or CLOO?

CLOO has the higher dividend yield at 0.59%, compared with 0.24% for NISM.

What is the main difference between NISM and CLOO?

NISM is categorized as Foreign Small & Mid Cap Equities, while CLOO is CLO. Their fees differ too: 0.70% for NISM and 0.25% for CLOO.