SCDL vs. ACLO

Last updated Jun 19, 2026

SCDL (ETRACS 2x Leveraged U.S. Dividend Factor TR ETN) and ACLO (TCW AAA CLO ETF) are both exchange-traded funds - SCDL is a Leveraged Equities fund tracking the Dow Jones U.S. Dividend 100 (200%), while ACLO is a CLO fund actively managed by TCW. SCDL is passively managed, while ACLO is actively managed. Over the past year, SCDL returned 44.38% vs 5.33% for ACLO. At a 0.07 correlation, their price movements are largely independent. SCDL charges 0.95%/yr vs 0.20%/yr for ACLO.

Performance

SCDL vs. ACLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) and TCW AAA CLO ETF (ACLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCDL achieves a 32.62% return, which is significantly higher than ACLO's 2.41% return.

SCDL

• 1D: -0.27%
• 1M: -1.74%
• YTD: 32.62%
• 6M: 32.02%
• 1Y: 44.38%
• 3Y*: 19.16%
• 5Y*: 10.74%
• 10Y*: —

ACLO

• 1D: 0.09%
• 1M: 0.43%
• YTD: 2.41%
• 6M: 2.56%
• 1Y: 5.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCDL vs. ACLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	32.62%	2.05%	-8.37%
ACLO TCW AAA CLO ETF	2.41%	5.32%	0.81%

Correlation

The correlation between SCDL and ACLO is -0.02, 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	-0.02
Correlation (All Time) Calculated using the full available price history since Nov 18, 2024	0.07

Return for Risk

SCDL vs. ACLO — Risk / Return Rank

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

SCDL

SCDL Risk / Return Rank: 69
SCDL Sharpe Ratio Rank: 67
SCDL Sortino Ratio Rank: 70
SCDL Omega Ratio Rank: 59
SCDL Calmar Ratio Rank: 85
SCDL Martin Ratio Rank: 64

ACLO

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

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.

SCDL vs. ACLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) and TCW AAA CLO ETF (ACLO). 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.

	SCDL	ACLO	Difference
Sharpe ratio: Return per unit of total volatility	2.06	7.36	-5.30
Sortino ratio: Return per unit of downside risk	2.97	15.22	-12.26
Omega ratio: Gain probability vs. loss probability	1.34	3.45	-2.11
Calmar ratio: Return relative to maximum drawdown	4.38	19.99	-15.61
Martin ratio: Return relative to average drawdown	10.92	166.22	-155.30

SCDL vs. ACLO - Sharpe Ratio Comparison

The current SCDL Sharpe Ratio is 2.06, which is lower than the ACLO Sharpe Ratio of 7.36. The chart below compares the historical Sharpe Ratios of SCDL and ACLO, 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

SCDL vs. ACLO - Drawdown Comparison

The maximum SCDL drawdown since its inception was -34.87%, which is greater than ACLO's maximum drawdown of -1.01%. Use the drawdown chart below to compare losses from any high point for SCDL and ACLO.

Drawdown Indicators

	SCDL	ACLO	Difference
Max Drawdown Largest peak-to-trough decline	-34.87%	-1.01%	-33.86%
Max Drawdown (1Y) Largest decline over 1 year	-10.19%	-0.27%	-9.92%
Max Drawdown (3Y) Largest decline over 3 years	-32.79%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.87%	—	—
Current Drawdown Current decline from peak	-5.94%	0.00%	-5.94%
Average Drawdown Average peak-to-trough decline	-11.88%	-0.04%	-11.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.07%	0.03%	+4.04%

Volatility

SCDL vs. ACLO - Volatility Comparison

ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) has a higher volatility of 6.46% compared to TCW AAA CLO ETF (ACLO) at 0.19%. This indicates that SCDL's price experiences larger fluctuations and is considered to be riskier than ACLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCDL	ACLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.46%	0.19%	+6.27%
Volatility (6M) Calculated over the trailing 6-month period	14.78%	0.58%	+14.20%
Volatility (1Y) Calculated over the trailing 1-year period	21.71%	0.73%	+20.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.00%	1.07%	+27.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.83%	1.07%	+27.76%

SCDL vs. ACLO - Expense Ratio Comparison

SCDL has a 0.95% expense ratio, which is higher than ACLO's 0.20% expense ratio.

Dividends

SCDL vs. ACLO - Dividend Comparison

SCDL has not paid dividends to shareholders, while ACLO's dividend yield for the trailing twelve months is around 4.90%.

Position	TTM	2025	2024
ACLO TCW AAA CLO ETF	4.90%	4.87%	0.59%
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SCDL and ACLO in my portfolio?

SCDL and ACLO have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCDL or ACLO?

SCDL has higher volatility (6.46%) compared to ACLO (0.19%). In terms of maximum drawdown, SCDL dropped -34.87% vs ACLO's -1.01%.

Which ETF is better, SCDL or ACLO?

On 1-year performance, SCDL leads with 44.38% vs 5.33% for ACLO. On fees, ACLO is cheaper at 0.20% per year. On volatility, ACLO has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCDL or ACLO?

Over the 1-year period, SCDL has performed better with a 44.38% return vs 5.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCDL or ACLO?

ACLO is cheaper with a 0.20% expense ratio, compared with 0.95% for SCDL.

Which ETF pays a higher dividend yield, SCDL or ACLO?

ACLO has the higher dividend yield at 4.90%, compared with 0.00% for SCDL.

What is the main difference between SCDL and ACLO?

SCDL is categorized as Leveraged Equities, while ACLO is CLO. They also come from different issuers: UBS and TCW. Their fees differ too: 0.95% for SCDL and 0.20% for ACLO.

Which has better risk-adjusted returns?

ACLO currently has the higher Sharpe Ratio (7.36 vs 2.06), 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.