P500.DE vs. CLOA.DE
P500.DE (Invesco S&P 500 UCITS ETF) and CLOA.DE (Invesco EUR AAA CLO UCITS ETF Acc) are both exchange-traded funds - P500.DE is a S&P 500 fund tracking the S&P 500 Index, while CLOA.DE is a CLO fund tracking the J.P. Morgan European Collateralized Loan Obligation AAA-only Index. Both are passively managed. Over the past year, P500.DE returned 25.73% vs 3.48% for CLOA.DE. At a correlation of -0.06, they often move in opposite directions. P500.DE charges 0.05%/yr vs 0.25%/yr for CLOA.DE.
Performance
P500.DE vs. CLOA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, P500.DE achieves a 11.47% return, which is significantly higher than CLOA.DE's 1.37% return.
P500.DE
- 1D
- -0.10%
- 1M
- 4.39%
- YTD
- 11.47%
- 6M
- 10.93%
- 1Y
- 25.73%
- 3Y*
- 19.07%
- 5Y*
- 14.99%
- 10Y*
- 15.16%
CLOA.DE
- 1D
- 0.11%
- 1M
- 0.34%
- YTD
- 1.37%
- 6M
- 1.83%
- 1Y
- 3.48%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
P500.DE vs. CLOA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
P500.DE Invesco S&P 500 UCITS ETF | 11.47% | 1.68% |
CLOA.DE Invesco EUR AAA CLO UCITS ETF Acc | 1.37% | 2.88% |
Correlation
The correlation between P500.DE and CLOA.DE is -0.12, 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 | -0.12 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025 | -0.06 |
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Return for Risk
P500.DE vs. CLOA.DE — Risk / Return Rank
P500.DE
CLOA.DE
P500.DE vs. CLOA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF (P500.DE) and Invesco EUR AAA CLO UCITS ETF Acc (CLOA.DE). 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.
| P500.DE | CLOA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.55 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.62 | 11.09 | -7.47 |
| Martin ratioReturn relative to average drawdown | 12.91 | 35.06 | -22.15 |
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
| P500.DE | CLOA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.23 | 2.68 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.94 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 2.31 | -1.30 |
Drawdowns
P500.DE vs. CLOA.DE - Drawdown Comparison
The maximum P500.DE drawdown since its inception was -33.78%, which is greater than CLOA.DE's maximum drawdown of -0.49%. Use the drawdown chart below to compare losses from any high point for P500.DE and CLOA.DE.
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Drawdown Indicators
| P500.DE | CLOA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.78% | -0.49% | -33.29% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -0.31% | -6.80% |
Max Drawdown (3Y)Largest decline over 3 years | -23.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.34% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.78% | — | — |
Current DrawdownCurrent decline from peak | -0.40% | -0.02% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -3.85% | -0.09% | -3.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 0.10% | +1.89% |
Volatility
P500.DE vs. CLOA.DE - Volatility Comparison
Invesco S&P 500 UCITS ETF (P500.DE) has a higher volatility of 2.65% compared to Invesco EUR AAA CLO UCITS ETF Acc (CLOA.DE) at 0.43%. This indicates that P500.DE's price experiences larger fluctuations and is considered to be riskier than CLOA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| P500.DE | CLOA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 0.43% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 7.59% | 0.95% | +6.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.52% | 1.30% | +10.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.17% | 1.42% | +13.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 1.42% | +14.65% |
P500.DE vs. CLOA.DE - Expense Ratio Comparison
P500.DE has a 0.05% expense ratio, which is lower than CLOA.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
P500.DE vs. CLOA.DE - Dividend Comparison
Neither P500.DE nor CLOA.DE has paid dividends to shareholders.
Frequently Asked Questions
P500.DE and CLOA.DE have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, P500.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
P500.DE is cheaper with a 0.05% expense ratio, compared with 0.25% for CLOA.DE.
P500.DE is categorized as S&P 500, while CLOA.DE is CLO. P500.DE tracks S&P 500 Index, while CLOA.DE tracks J.P. Morgan European Collateralized Loan Obligation AAA-only Index. Their fees differ too: 0.05% for P500.DE and 0.25% for CLOA.DE.
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