SMLD.DE vs. CLOD.DE
SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) and CLOD.DE (Invesco EUR AAA CLO UCITS ETF Dist) are both exchange-traded funds - SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite, while CLOD.DE is a CLO fund actively managed by Invesco. SMLD.DE is passively managed, while CLOD.DE is actively managed. Over the past year, SMLD.DE returned 13.71% vs 3.39% for CLOD.DE. At a correlation of -0.09, they often move in opposite directions. SMLD.DE charges 0.50%/yr vs 0.25%/yr for CLOD.DE.
Performance
SMLD.DE vs. CLOD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SMLD.DE achieves a 20.75% return, which is significantly higher than CLOD.DE's 1.46% return.
SMLD.DE
- 1D
- -0.66%
- 1M
- 0.52%
- YTD
- 20.75%
- 6M
- 14.96%
- 1Y
- 13.71%
- 3Y*
- 20.56%
- 5Y*
- 25.24%
- 10Y*
- 15.33%
CLOD.DE
- 1D
- 0.01%
- 1M
- 0.35%
- YTD
- 1.46%
- 6M
- 1.67%
- 1Y
- 3.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMLD.DE vs. CLOD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 20.75% | -16.78% |
CLOD.DE Invesco EUR AAA CLO UCITS ETF Dist | 1.46% | 2.50% |
Correlation
The correlation between SMLD.DE and CLOD.DE is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025 | -0.09 |
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Return for Risk
SMLD.DE vs. CLOD.DE — Risk / Return Rank
SMLD.DE
CLOD.DE
SMLD.DE vs. CLOD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) and Invesco EUR AAA CLO UCITS ETF Dist (CLOD.DE). 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.
| SMLD.DE | CLOD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.97 | ||
| Sortino ratioReturn per unit of downside risk | -4.74 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.92 | -0.77 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 9.97 | -9.05 |
| Martin ratioReturn relative to average drawdown | 1.91 | 35.80 | -33.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMLD.DE | CLOD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.51 | 3.49 | -2.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.10 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 2.85 | -2.56 |
Drawdowns
SMLD.DE vs. CLOD.DE - Drawdown Comparison
The maximum SMLD.DE drawdown since its inception was -73.78%, which is greater than CLOD.DE's maximum drawdown of -0.62%. Use the drawdown chart below to compare losses from any high point for SMLD.DE and CLOD.DE.
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Drawdown Indicators
| SMLD.DE | CLOD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.78% | -0.62% | -73.16% |
Max Drawdown (1Y)Largest decline over 1 year | -14.77% | -0.34% | -14.43% |
Max Drawdown (3Y)Largest decline over 3 years | -22.99% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.99% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -70.79% | — | — |
Current DrawdownCurrent decline from peak | -3.47% | 0.00% | -3.47% |
Average DrawdownAverage peak-to-trough decline | -17.76% | -0.10% | -17.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.16% | 0.09% | +7.07% |
Volatility
SMLD.DE vs. CLOD.DE - Volatility Comparison
Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) has a higher volatility of 5.38% compared to Invesco EUR AAA CLO UCITS ETF Dist (CLOD.DE) at 0.30%. This indicates that SMLD.DE's price experiences larger fluctuations and is considered to be riskier than CLOD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMLD.DE | CLOD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 0.30% | +5.08% |
Volatility (6M)Calculated over the trailing 6-month period | 12.79% | 0.71% | +12.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.64% | 0.98% | +25.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.60% | 1.07% | +21.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.70% | 1.07% | +33.63% |
SMLD.DE vs. CLOD.DE - Expense Ratio Comparison
SMLD.DE has a 0.50% expense ratio, which is higher than CLOD.DE's 0.25% expense ratio.
Dividends
SMLD.DE vs. CLOD.DE - Dividend Comparison
SMLD.DE's dividend yield for the trailing twelve months is around 7.55%, more than CLOD.DE's 3.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLOD.DE Invesco EUR AAA CLO UCITS ETF Dist | 3.30% | 2.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.55% | 8.45% | 12.45% | 18.33% | 14.40% | 17.94% | 25.01% | 18.21% | 21.61% | 18.39% | 14.39% | 20.63% |
Frequently Asked Questions
SMLD.DE and CLOD.DE 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.
On fees, CLOD.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CLOD.DE is cheaper with a 0.25% expense ratio, compared with 0.50% for SMLD.DE.
SMLD.DE is categorized as Energy Equities, while CLOD.DE is CLO. Their fees differ too: 0.50% for SMLD.DE and 0.25% for CLOD.DE.
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