PTY vs. CLOA
PTY (PIMCO Corporate & Income Opportunity Fund) and CLOA (BlackRock AAA CLO ETF) are both funds - PTY is a Corporate Bonds fund managed by PIMCO, while CLOA is a CLO fund actively managed by BlackRock. Over the past 3 years, PTY returned 7.73%/yr vs 6.62%/yr for CLOA. At a 0.12 correlation, their price movements are largely independent. PTY charges 1.19%/yr vs 0.20%/yr for CLOA.
Performance
PTY vs. CLOA - Performance Comparison
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Returns By Period
In the year-to-date period, PTY achieves a -3.70% return, which is significantly lower than CLOA's 2.15% return.
PTY
- 1D
- 0.26%
- 1M
- -0.51%
- YTD
- -3.70%
- 6M
- -3.85%
- 1Y
- -4.11%
- 3Y*
- 7.73%
- 5Y*
- -0.75%
- 10Y*
- 8.71%
CLOA
- 1D
- 0.02%
- 1M
- 0.30%
- YTD
- 2.15%
- 6M
- 2.54%
- 1Y
- 5.12%
- 3Y*
- 6.62%
- 5Y*
- —
- 10Y*
- —
PTY vs. CLOA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PTY PIMCO Corporate & Income Opportunity Fund | -3.70% | -0.51% | 19.87% | 12.88% |
CLOA BlackRock AAA CLO ETF | 2.15% | 5.44% | 7.25% | 8.38% |
Correlation
The correlation between PTY and CLOA is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2023 | 0.12 |
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Return for Risk
PTY vs. CLOA — Risk / Return Rank
PTY
CLOA
PTY vs. CLOA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Corporate & Income Opportunity Fund (PTY) and BlackRock AAA CLO ETF (CLOA). 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.
| PTY | CLOA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.81 | ||
| Sortino ratioReturn per unit of downside risk | -14.23 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 3.33 | -2.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 29.15 | -29.44 |
| Martin ratioReturn relative to average drawdown | -0.57 | 145.81 | -146.39 |
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Drawdowns
PTY vs. CLOA - Drawdown Comparison
The maximum PTY drawdown since its inception was -60.86%, which is greater than CLOA's maximum drawdown of -1.34%. Use the drawdown chart below to compare losses from any high point for PTY and CLOA.
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Drawdown Indicators
| PTY | CLOA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.86% | -1.34% | -59.52% |
Max Drawdown (1Y)Largest decline over 1 year | -15.44% | -0.18% | -15.26% |
Max Drawdown (3Y)Largest decline over 3 years | -16.04% | -1.13% | -14.91% |
Max Drawdown (5Y)Largest decline over 5 years | -41.38% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.55% | — | — |
Current DrawdownCurrent decline from peak | -12.60% | 0.00% | -12.60% |
Average DrawdownAverage peak-to-trough decline | -8.61% | -0.05% | -8.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.89% | 0.04% | +7.85% |
Volatility
PTY vs. CLOA - Volatility Comparison
PIMCO Corporate & Income Opportunity Fund (PTY) has a higher volatility of 2.64% compared to BlackRock AAA CLO ETF (CLOA) at 0.13%. This indicates that PTY's price experiences larger fluctuations and is considered to be riskier than CLOA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PTY | CLOA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 0.13% | +2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 7.49% | 0.48% | +7.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.80% | 0.70% | +10.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.39% | 1.31% | +16.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.19% | 1.31% | +19.88% |
PTY vs. CLOA - Expense Ratio Comparison
PTY has a 1.19% expense ratio, which is higher than CLOA's 0.20% expense ratio.
Dividends
PTY vs. CLOA - Dividend Comparison
PTY's dividend yield for the trailing twelve months is around 12.15%, more than CLOA's 4.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLOA BlackRock AAA CLO ETF | 4.95% | 5.35% | 6.01% | 5.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PTY PIMCO Corporate & Income Opportunity Fund | 12.15% | 11.05% | 9.92% | 10.77% | 13.12% | 9.16% | 8.74% | 8.37% | 10.63% | 9.48% | 12.09% | 11.92% |
Frequently Asked Questions
PTY and CLOA have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTY has higher volatility (2.64%) compared to CLOA (0.13%). In terms of maximum drawdown, PTY dropped -60.86% vs CLOA's -1.34%.
CLOA currently has the higher Sharpe Ratio (7.39 vs -0.42), 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.
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