P500.DE vs. CLOD.DE
P500.DE (Invesco S&P 500 UCITS ETF) and CLOD.DE (Invesco EUR AAA CLO UCITS ETF Dist) are both exchange-traded funds - P500.DE is a S&P 500 fund tracking the S&P 500 Index, while CLOD.DE is a CLO fund actively managed by Invesco. P500.DE is passively managed, while CLOD.DE is actively managed. Over the past year, P500.DE returned 24.17% vs 3.49% for CLOD.DE. At a 0.02 correlation, their price movements are largely independent. P500.DE charges 0.05%/yr vs 0.25%/yr for CLOD.DE.
Performance
P500.DE vs. CLOD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, P500.DE achieves a 12.30% return, which is significantly higher than CLOD.DE's 1.79% return.
P500.DE
- 1D
- 0.23%
- 1M
- 0.61%
- 6M
- 13.07%
- YTD
- 12.30%
- 1Y
- 24.17%
- 3Y*
- 18.56%
- 5Y*
- 13.90%
- 10Y*
- 15.07%
CLOD.DE
- 1D
- 0.00%
- 1M
- 0.34%
- 6M
- 1.78%
- YTD
- 1.79%
- 1Y
- 3.49%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
P500.DE vs. CLOD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
P500.DE Invesco S&P 500 UCITS ETF | 12.30% | 1.47% |
CLOD.DE Invesco EUR AAA CLO UCITS ETF Dist | 1.79% | 2.73% |
Correlation
The correlation between P500.DE and CLOD.DE is 0.01, 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 | 0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2025 | 0.02 |
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Return for Risk
P500.DE vs. CLOD.DE — Risk / Return Rank
P500.DE
CLOD.DE
P500.DE vs. CLOD.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 Dist (CLOD.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.
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.
| P500.DE | CLOD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.18 | ||
| Sortino ratioReturn per unit of downside risk | -4.86 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 2.11 | -0.74 |
| Calmar ratioReturn relative to maximum drawdown | 3.39 | 10.99 | -7.59 |
| Martin ratioReturn relative to average drawdown | 12.01 | 51.87 | -39.86 |
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Drawdowns
P500.DE vs. CLOD.DE - Drawdown Comparison
The maximum P500.DE drawdown since its inception was -33.85%, which is greater than CLOD.DE's maximum drawdown of -0.62%. Use the drawdown chart below to compare losses from any high point for P500.DE and CLOD.DE.
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Drawdown Indicators
| P500.DE | CLOD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.85% | -0.62% | -33.23% |
Max Drawdown (1Y)Largest decline over 1 year | -7.10% | -0.32% | -6.78% |
Max Drawdown (3Y)Largest decline over 3 years | -23.39% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.39% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.85% | — | — |
Current DrawdownCurrent decline from peak | -0.60% | -0.01% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -3.84% | -0.09% | -3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 0.07% | +1.94% |
Volatility
P500.DE vs. CLOD.DE - Volatility Comparison
Invesco S&P 500 UCITS ETF (P500.DE) has a higher volatility of 3.66% compared to Invesco EUR AAA CLO UCITS ETF Dist (CLOD.DE) at 0.23%. This indicates that P500.DE's price experiences larger fluctuations and is considered to be riskier than CLOD.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 | CLOD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.66% | 0.23% | +3.43% |
Volatility (6M)Calculated over the trailing 6-month period | 8.08% | 0.69% | +7.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.00% | 0.84% | +11.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.22% | 1.06% | +14.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 1.06% | +15.01% |
P500.DE vs. CLOD.DE - Expense Ratio Comparison
P500.DE has a 0.05% expense ratio, which is lower than CLOD.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. CLOD.DE - Dividend Comparison
P500.DE has not paid dividends to shareholders, while CLOD.DE's dividend yield for the trailing twelve months is around 3.05%.
| Position | TTM | 2025 |
|---|---|---|
CLOD.DE Invesco EUR AAA CLO UCITS ETF Dist | 3.05% | 2.56% |
P500.DE Invesco S&P 500 UCITS ETF | 0.00% | 0.00% |
Frequently Asked Questions
P500.DE and CLOD.DE have a correlation of 0.01, 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 CLOD.DE.
P500.DE is categorized as S&P 500, while CLOD.DE is CLO. Their fees differ too: 0.05% for P500.DE and 0.25% for CLOD.DE.
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