PCLO vs. KMID

Last updated Jun 24, 2026

PCLO (Virtus SEIX AAA Private Credit CLO ETF) and KMID (Virtus KAR Mid-Cap ETF) are both exchange-traded funds - PCLO is a CLO fund actively managed by Virtus, while KMID is a Mid Cap Growth Equities fund actively managed by Virtus. Both are actively managed. Over the past year, PCLO returned 5.15% vs -0.30% for KMID. At a 0.09 correlation, their price movements are largely independent. PCLO charges 0.29%/yr vs 0.80%/yr for KMID.

Performance

PCLO vs. KMID - 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 KAR Mid-Cap ETF (KMID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCLO achieves a 2.09% return, which is significantly higher than KMID's 0.87% return.

PCLO

• 1D: -0.06%
• 1M: 0.22%
• YTD: 2.09%
• 6M: 2.23%
• 1Y: 5.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KMID

• 1D: -1.17%
• 1M: -0.06%
• YTD: 0.87%
• 6M: -0.56%
• 1Y: -0.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PCLO vs. KMID - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PCLO Virtus SEIX AAA Private Credit CLO ETF	2.09%	5.39%	0.46%
KMID Virtus KAR Mid-Cap ETF	0.87%	0.31%	-6.68%

Correlation

The correlation between PCLO and KMID is -0.03, 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	-0.03
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024	0.09

The correlation between PCLO and KMID shifts across timeframes, from -0.03 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PCLO vs. KMID — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PCLO

PCLO Risk / Return Rank: 99
PCLO Sharpe Ratio Rank: 98
PCLO Sortino Ratio Rank: 99
PCLO Omega Ratio Rank: 99
PCLO Calmar Ratio Rank: 99
PCLO Martin Ratio Rank: 99

KMID

KMID Risk / Return Rank: 8
KMID Sharpe Ratio Rank: 9
KMID Sortino Ratio Rank: 8
KMID Omega Ratio Rank: 8
KMID Calmar Ratio Rank: 9
KMID Martin Ratio Rank: 9

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PCLO vs. KMID - 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 KAR Mid-Cap ETF (KMID). 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	KMID	Difference
Sharpe ratio: Return per unit of total volatility	5.72	-0.02	+5.74
Sortino ratio: Return per unit of downside risk	9.91	0.08	+9.84
Omega ratio: Gain probability vs. loss probability	2.65	1.01	+1.64
Calmar ratio: Return relative to maximum drawdown	19.72	-0.03	+19.74
Martin ratio: Return relative to average drawdown	114.96	-0.07	+115.03

PCLO vs. KMID - Sharpe Ratio Comparison

The current PCLO Sharpe Ratio is 5.72, which is higher than the KMID Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of PCLO and KMID, 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. KMID - Drawdown Comparison

The maximum PCLO drawdown since its inception was -0.76%, smaller than the maximum KMID drawdown of -18.89%. Use the drawdown chart below to compare losses from any high point for PCLO and KMID.

Drawdown Indicators

	PCLO	KMID	Difference
Max Drawdown Largest peak-to-trough decline	-0.76%	-18.89%	+18.13%
Max Drawdown (1Y) Largest decline over 1 year	-0.26%	-10.71%	+10.45%
Current Drawdown Current decline from peak	-0.08%	-6.21%	+6.13%
Average Drawdown Average peak-to-trough decline	-0.03%	-5.74%	+5.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	4.36%	-4.32%

Volatility

PCLO vs. KMID - Volatility Comparison

The current volatility for Virtus SEIX AAA Private Credit CLO ETF (PCLO) is 0.23%, while Virtus KAR Mid-Cap ETF (KMID) has a volatility of 5.05%. This indicates that PCLO experiences smaller price fluctuations and is considered to be less risky than KMID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCLO	KMID	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.23%	5.05%	-4.82%
Volatility (6M) Calculated over the trailing 6-month period	0.70%	11.71%	-11.01%
Volatility (1Y) Calculated over the trailing 1-year period	0.91%	14.88%	-13.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.14%	16.99%	-15.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.14%	16.99%	-15.85%

PCLO vs. KMID - Expense Ratio Comparison

PCLO has a 0.29% expense ratio, which is lower than KMID's 0.80% expense ratio.

Dividends

PCLO vs. KMID - Dividend Comparison

PCLO's dividend yield for the trailing twelve months is around 5.25%, more than KMID's 0.12% yield.

Position	TTM	2025	2024
KMID Virtus KAR Mid-Cap ETF	0.12%	0.06%	0.05%
PCLO Virtus SEIX AAA Private Credit CLO ETF	5.25%	5.53%	0.44%

Frequently Asked Questions

Can I hold both PCLO and KMID in my portfolio?

PCLO and KMID have a correlation of -0.03, 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 KMID?

KMID has higher volatility (5.05%) compared to PCLO (0.23%). In terms of maximum drawdown, PCLO dropped -0.76% vs KMID's -18.89%.

Which ETF is better, PCLO or KMID?

On 1-year performance, PCLO leads with 5.15% vs -0.30% for KMID. On fees, PCLO is cheaper at 0.29% per year. On volatility, PCLO has been the lower-risk option at 0.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PCLO or KMID?

Over the 1-year period, PCLO has performed better with a 5.15% return vs -0.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PCLO or KMID?

PCLO is cheaper with a 0.29% expense ratio, compared with 0.80% for KMID.

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

PCLO has the higher dividend yield at 5.25%, compared with 0.12% for KMID.

What is the main difference between PCLO and KMID?

PCLO is categorized as CLO, while KMID is Mid Cap Growth Equities. Their fees differ too: 0.29% for PCLO and 0.80% for KMID.

Which has better risk-adjusted returns?

PCLO currently has the higher Sharpe Ratio (5.72 vs -0.02), 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.