SEIX vs. CLOZ

Last updated Jun 23, 2026

SEIX (Virtus Seix Senior Loan ETF) and CLOZ (Panagram BBB-B CLO ETF) are both exchange-traded funds - SEIX is a Bank Loan fund tracking the Credit Suisse Leveraged Loan Index, while CLOZ is a CLO fund actively managed by Panagram. SEIX is passively managed, while CLOZ is actively managed. Over the past 3 years, SEIX returned 7.76%/yr vs 9.99%/yr for CLOZ. At a 0.21 correlation, their price movements are largely independent. SEIX charges 0.57%/yr vs 0.50%/yr for CLOZ.

Performance

SEIX vs. CLOZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Seix Senior Loan ETF (SEIX) and Panagram BBB-B CLO ETF (CLOZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SEIX having a 2.33% return and CLOZ slightly lower at 2.26%.

SEIX

• 1D: 0.00%
• 1M: 0.28%
• YTD: 2.33%
• 6M: 2.49%
• 1Y: 6.06%
• 3Y*: 7.76%
• 5Y*: 5.75%
• 10Y*: —

CLOZ

• 1D: 0.00%
• 1M: -0.17%
• YTD: 2.26%
• 6M: 2.50%
• 1Y: 5.55%
• 3Y*: 9.99%
• 5Y*: —
• 10Y*: —

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

SEIX vs. CLOZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SEIX Virtus Seix Senior Loan ETF	2.33%	5.10%	8.42%	10.17%
CLOZ Panagram BBB-B CLO ETF	2.26%	5.99%	11.85%	14.99%

Correlation

The correlation between SEIX and CLOZ is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jan 24, 2023	0.21

Return for Risk

SEIX vs. CLOZ — Risk / Return Rank

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

SEIX

SEIX Risk / Return Rank: 94
SEIX Sharpe Ratio Rank: 96
SEIX Sortino Ratio Rank: 97
SEIX Omega Ratio Rank: 97
SEIX Calmar Ratio Rank: 91
SEIX Martin Ratio Rank: 92

CLOZ

CLOZ Risk / Return Rank: 44
CLOZ Sharpe Ratio Rank: 48
CLOZ Sortino Ratio Rank: 41
CLOZ Omega Ratio Rank: 70
CLOZ Calmar Ratio Rank: 30
CLOZ Martin Ratio Rank: 33

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.

SEIX vs. CLOZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Seix Senior Loan ETF (SEIX) and Panagram 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.

	SEIX	CLOZ	Difference
Sharpe ratio: Return per unit of total volatility	3.81	1.61	+2.20
Sortino ratio: Return per unit of downside risk	6.19	2.06	+4.13
Omega ratio: Gain probability vs. loss probability	1.87	1.40	+0.47
Calmar ratio: Return relative to maximum drawdown	5.39	1.43	+3.96
Martin ratio: Return relative to average drawdown	21.55	4.74	+16.81

SEIX vs. CLOZ - Sharpe Ratio Comparison

The current SEIX Sharpe Ratio is 3.81, which is higher than the CLOZ Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of SEIX and CLOZ, 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

SEIX vs. CLOZ - Drawdown Comparison

The maximum SEIX drawdown since its inception was -17.51%, which is greater than CLOZ's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for SEIX and CLOZ.

Drawdown Indicators

	SEIX	CLOZ	Difference
Max Drawdown Largest peak-to-trough decline	-17.51%	-5.32%	-12.19%
Max Drawdown (1Y) Largest decline over 1 year	-1.13%	-3.90%	+2.77%
Max Drawdown (3Y) Largest decline over 3 years	-3.01%	-5.32%	+2.31%
Max Drawdown (5Y) Largest decline over 5 years	-6.69%	—	—
Current Drawdown Current decline from peak	0.00%	-0.38%	+0.38%
Average Drawdown Average peak-to-trough decline	-0.87%	-0.38%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.28%	1.17%	-0.89%

Volatility

SEIX vs. CLOZ - Volatility Comparison

The current volatility for Virtus Seix Senior Loan ETF (SEIX) is 0.33%, while Panagram BBB-B CLO ETF (CLOZ) has a volatility of 0.66%. This indicates that SEIX experiences smaller price fluctuations and is considered to be less risky than CLOZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SEIX	CLOZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.33%	0.66%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	1.29%	3.17%	-1.88%
Volatility (1Y) Calculated over the trailing 1-year period	1.60%	3.47%	-1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.92%	3.79%	-0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.32%	3.79%	+0.53%

SEIX vs. CLOZ - Expense Ratio Comparison

SEIX has a 0.57% expense ratio, which is higher than CLOZ's 0.50% expense ratio.

Dividends

SEIX vs. CLOZ - Dividend Comparison

SEIX's dividend yield for the trailing twelve months is around 7.25%, less than CLOZ's 7.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CLOZ Panagram BBB-B CLO ETF	7.41%	7.63%	9.09%	8.81%	0.00%	0.00%	0.00%	0.00%
SEIX Virtus Seix Senior Loan ETF	7.25%	7.52%	8.09%	8.74%	5.76%	4.16%	3.75%	3.82%

Frequently Asked Questions

Can I hold both SEIX and CLOZ in my portfolio?

SEIX and CLOZ have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEIX or CLOZ?

CLOZ has higher volatility (0.66%) compared to SEIX (0.33%). In terms of maximum drawdown, SEIX dropped -17.51% vs CLOZ's -5.32%.

Which ETF is better, SEIX or CLOZ?

On 3-year performance, CLOZ leads with 9.99% vs 7.76% for SEIX. On fees, CLOZ is cheaper at 0.50% per year. On volatility, SEIX has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SEIX or CLOZ?

Over the 3-year period, CLOZ has performed better with a 9.99% return vs 7.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SEIX or CLOZ?

CLOZ is cheaper with a 0.50% expense ratio, compared with 0.57% for SEIX.

Which ETF pays a higher dividend yield, SEIX or CLOZ?

CLOZ has the higher dividend yield at 7.41%, compared with 7.25% for SEIX.

What is the main difference between SEIX and CLOZ?

SEIX is categorized as Bank Loan, while CLOZ is CLO. They also come from different issuers: Virtus and Panagram. Their fees differ too: 0.57% for SEIX and 0.50% for CLOZ.

Which has better risk-adjusted returns?

SEIX currently has the higher Sharpe Ratio (3.81 vs 1.61), 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.