RPIDX vs. CLOZ
RPIDX (T. Rowe Price Dynamic Credit Fund) and CLOZ (Eldridge BBB-B CLO ETF) are both funds - RPIDX is a Nontraditional Bonds fund managed by T. Rowe Price, while CLOZ is a CLO fund actively managed by Eldridge. Over the past 3 years, RPIDX returned 9.59%/yr vs 9.03%/yr for CLOZ. Their 0.01 correlation means their historical movements had little consistent relationship. RPIDX charges 0.63%/yr vs 0.50%/yr for CLOZ.
Performance
RPIDX vs. CLOZ - Performance Comparison
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Returns By Period
In the year-to-date period, RPIDX achieves a 0.03% return, which is significantly lower than CLOZ's 3.25% return.
RPIDX
- 1D
- -0.12%
- 1M
- -1.40%
- 6M
- -0.80%
- YTD
- 0.03%
- 1Y
- 2.11%
- 3Y*
- 9.59%
- 5Y*
- 6.11%
- 10Y*
- —
- ALL TIME*
- 6.21%
CLOZ
- 1D
- 0.00%
- 1M
- 0.23%
- 6M
- 2.00%
- YTD
- 3.25%
- 1Y
- 6.00%
- 3Y*
- 9.03%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.15M | $11.73M | $8.72M | |
| $0.00 | $0.00 | $0.00 |
RPIDX vs. CLOZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
RPIDX T. Rowe Price Dynamic Credit Fund | 0.03% | 9.15% | 14.31% | 9.94% |
CLOZ Eldridge BBB-B CLO ETF | 3.25% | 5.99% | 11.85% | 14.99% |
Correlation
The correlation between RPIDX and CLOZ is -0.08, 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. | -0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2023 | 0.01 |
The correlation between RPIDX and CLOZ shifts across timeframes, from -0.08 (1 year) to 0.02 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
RPIDX vs. CLOZ — Risk / Return Rank
RPIDX
CLOZ
RPIDX vs. CLOZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Dynamic Credit Fund (RPIDX) and Eldridge BBB-B CLO ETF (CLOZ). 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.
| RPIDX | CLOZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.43 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 1.54 | -0.58 |
| Martin ratioReturn relative to average drawdown | 3.06 | 5.12 | -2.06 |
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Drawdowns
RPIDX vs. CLOZ - Drawdown Comparison
The maximum RPIDX drawdown since its inception was -19.95%, which is greater than CLOZ's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for RPIDX and CLOZ.
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Drawdown Indicators
| RPIDX | CLOZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.95% | -5.32% | -14.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.20% | -3.90% | +1.70% |
Max Drawdown (3Y)Largest decline over 3 years | -2.81% | -5.32% | +2.51% |
Max Drawdown (5Y)Largest decline over 5 years | -7.31% | — | — |
Current DrawdownCurrent decline from peak | -1.85% | -0.02% | -1.83% |
Average DrawdownAverage peak-to-trough decline | -1.77% | -0.37% | -1.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 1.17% | -0.48% |
Volatility
RPIDX vs. CLOZ - Volatility Comparison
T. Rowe Price Dynamic Credit Fund (RPIDX) has a higher volatility of 1.24% compared to Eldridge BBB-B CLO ETF (CLOZ) at 0.66%. This indicates that RPIDX's price experiences larger fluctuations and is considered to be riskier than CLOZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RPIDX | CLOZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 0.66% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 3.20% | -0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.38% | 3.50% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.96% | 3.75% | +0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.83% | 3.75% | +1.08% |
RPIDX vs. CLOZ - Expense Ratio Comparison
RPIDX has a 0.63% expense ratio, which is higher than CLOZ's 0.50% expense ratio.
Dividends
RPIDX vs. CLOZ - Dividend Comparison
RPIDX's dividend yield for the trailing twelve months is around 7.55%, more than CLOZ's 7.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CLOZ Eldridge BBB-B CLO ETF | 7.30% | 7.63% | 9.09% | 8.81% | 0.00% | 0.00% | 0.00% | 0.00% |
RPIDX T. Rowe Price Dynamic Credit Fund | 7.55% | 9.39% | 13.10% | 10.72% | 7.97% | 5.34% | 7.14% | 4.41% |
Frequently Asked Questions
RPIDX and CLOZ have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RPIDX has higher volatility (1.24%) compared to CLOZ (0.66%). In terms of maximum drawdown, RPIDX dropped -19.95% vs CLOZ's -5.32%.
CLOZ currently has the higher Sharpe Ratio (1.72 vs 0.63), 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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