PCLO vs. BBP

Last updated Aug 4, 2026

PCLO (Virtus SEIX AAA Private Credit CLO ETF) and BBP (Virtus LifeSci Biotech Products ETF) are both exchange-traded funds - PCLO is a CLO fund actively managed by Virtus, while BBP is a Health & Biotech Equities fund tracking the LifeSci Biotechnology Products Index. PCLO is actively managed, while BBP is passively managed. Over the past year, PCLO returned 5.10% vs 51.96% for BBP. Their 0.09 correlation means their historical movements had little consistent relationship. PCLO charges 0.29%/yr vs 0.79%/yr for BBP.

Performance

PCLO vs. BBP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus SEIX AAA Private Credit CLO ETF (PCLO) and Virtus LifeSci Biotech Products ETF (BBP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCLO achieves a 2.68% return, which is significantly lower than BBP's 17.95% return.

PCLO

• 1D: 0.00%
• 1M: 0.34%
• 6M: 2.19%
• YTD: 2.68%
• 1Y: 5.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.14%

BBP

• 1D: 0.42%
• 1M: -4.86%
• 6M: 13.89%
• YTD: 17.95%
• 1Y: 51.96%
• 3Y*: 20.67%
• 5Y*: 12.86%
• 10Y*: 11.61%
• ALL TIME*: 12.18%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBP Virtus LifeSci Biotech Products ETF	$934.12K	$1.05M	$1.02M
PCLO Virtus SEIX AAA Private Credit CLO ETF	$90.83K	$132.76K	$166.26K

PCLO vs. BBP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PCLO Virtus SEIX AAA Private Credit CLO ETF	2.68%	5.39%	0.46%
BBP Virtus LifeSci Biotech Products ETF	17.95%	33.15%	-8.76%

Correlation

The correlation between PCLO and BBP is -0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.00
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024	0.09

Return for Risk

PCLO vs. BBP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PCLO

PCLO Risk / Return Rank: 99
PCLO Sharpe Ratio Rank: 99
PCLO Sortino Ratio Rank: 99
PCLO Omega Ratio Rank: 99
PCLO Calmar Ratio Rank: 99
PCLO Martin Ratio Rank: 99

BBP

BBP Risk / Return Rank: 88
BBP Sharpe Ratio Rank: 87
BBP Sortino Ratio Rank: 86
BBP Omega Ratio Rank: 81
BBP Calmar Ratio Rank: 95
BBP Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PCLO vs. BBP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus SEIX AAA Private Credit CLO ETF (PCLO) and Virtus LifeSci Biotech Products ETF (BBP). 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.

	PCLO	BBP	Difference
Sharpe ratio: Return per unit of total volatility	6.11	2.17	+3.94
Sortino ratio: Return per unit of downside risk	11.23	2.99	+8.24
Omega ratio: Gain probability vs. loss probability	2.70	1.35	+1.34
Calmar ratio: Return relative to maximum drawdown	19.50	5.55	+13.96
Martin ratio: Return relative to average drawdown	120.92	15.50	+105.42

PCLO vs. BBP - Sharpe Ratio Comparison

The current PCLO Sharpe Ratio is 6.11, which is higher than the BBP Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of PCLO and BBP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PCLO vs. BBP - Drawdown Comparison

The maximum PCLO drawdown since its inception was -0.76%, smaller than the maximum BBP drawdown of -44.32%. Use the drawdown chart below to compare losses from any high point for PCLO and BBP.

Drawdown Indicators

	PCLO	BBP	Difference
Max Drawdown Largest peak-to-trough decline	-0.76%	-44.32%	+43.56%
Max Drawdown (1Y) Largest decline over 1 year	-0.26%	-9.41%	+9.15%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.09%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.77%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.32%	—
Current Drawdown Current decline from peak	0.00%	-9.03%	+9.03%
Average Drawdown Average peak-to-trough decline	-0.03%	-11.90%	+11.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	3.36%	-3.32%

Volatility

PCLO vs. BBP - Volatility Comparison

The current volatility for Virtus SEIX AAA Private Credit CLO ETF (PCLO) is 0.22%, while Virtus LifeSci Biotech Products ETF (BBP) has a volatility of 7.29%. This indicates that PCLO experiences smaller price fluctuations and is considered to be less risky than BBP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCLO	BBP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.22%	7.29%	-7.07%
Volatility (6M) Calculated over the trailing 6-month period	0.68%	19.11%	-18.43%
Volatility (1Y) Calculated over the trailing 1-year period	0.84%	24.10%	-23.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.12%	26.43%	-25.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.12%	27.35%	-26.23%

PCLO vs. BBP - Expense Ratio Comparison

PCLO has a 0.29% expense ratio, which is lower than BBP's 0.79% expense ratio.

Dividends

PCLO vs. BBP - Dividend Comparison

PCLO's dividend yield for the trailing twelve months is around 5.19%, while BBP has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBP Virtus LifeSci Biotech Products ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.18%	0.00%	1.29%
PCLO Virtus SEIX AAA Private Credit CLO ETF	5.19%	5.53%	0.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PCLO and BBP in my portfolio?

PCLO and BBP have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCLO or BBP?

BBP has higher volatility (7.29%) compared to PCLO (0.22%). In terms of maximum drawdown, PCLO dropped -0.76% vs BBP's -44.32%.

Which ETF is better, PCLO or BBP?

On 1-year performance, BBP leads with 51.96% vs 5.10% for PCLO. On fees, PCLO is cheaper at 0.29% per year. On volatility, PCLO has been the lower-risk option at 0.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PCLO or BBP?

Over the 1-year period, BBP has performed better with a 51.96% return vs 5.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PCLO or BBP?

PCLO is cheaper with a 0.29% expense ratio, compared with 0.79% for BBP.

Which ETF pays a higher dividend yield, PCLO or BBP?

PCLO has the higher dividend yield at 5.19%, compared with 0.00% for BBP.

What is the main difference between PCLO and BBP?

PCLO is categorized as CLO, while BBP is Health & Biotech Equities. Their fees differ too: 0.29% for PCLO and 0.79% for BBP.

Which has better risk-adjusted returns?

PCLO currently has the higher Sharpe Ratio (6.11 vs 2.17), 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.