STEN vs. CLOA
STEN (iShares Large Cap 10% Target Buffer Sep ETF) and CLOA (iShares AAA CLO Active ETF) are both exchange-traded funds - STEN is a Defined Outcome fund actively managed by BlackRock, while CLOA is a CLO fund actively managed by BlackRock. Both are actively managed. Their 0.27 correlation means their historical movements had little consistent relationship. STEN charges 0.50%/yr vs 0.20%/yr for CLOA.
Performance
STEN vs. CLOA - Performance Comparison
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Returns By Period
In the year-to-date period, STEN achieves a 8.49% return, which is significantly higher than CLOA's 2.80% return.
STEN
- 1D
- 0.73%
- 1M
- 0.75%
- 6M
- 7.36%
- YTD
- 8.49%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
CLOA
- 1D
- 0.02%
- 1M
- 0.44%
- 6M
- 2.21%
- YTD
- 2.80%
- 1Y
- 5.11%
- 3Y*
- 6.33%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $22.46M | $20.73M | $21.32M | |
| $12.61K | $40.38K | $88.23K |
STEN vs. CLOA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
STEN iShares Large Cap 10% Target Buffer Sep ETF | 8.49% | 2.36% |
CLOA iShares AAA CLO Active ETF | 2.80% | 1.31% |
Correlation
The correlation between STEN and CLOA is 0.27, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025 | 0.27 |
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Return for Risk
STEN vs. CLOA — Risk / Return Rank
STEN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CLOA
STEN vs. CLOA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap 10% Target Buffer Sep ETF (STEN) and iShares AAA CLO Active 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.
| STEN | CLOA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 3.44 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 29.50 | — |
| Martin ratioReturn relative to average drawdown | — | 154.32 | — |
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Drawdowns
STEN vs. CLOA - Drawdown Comparison
The maximum STEN drawdown since its inception was -6.21%, which is greater than CLOA's maximum drawdown of -1.34%. Use the drawdown chart below to compare losses from any high point for STEN and CLOA.
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Drawdown Indicators
| STEN | CLOA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.21% | -1.34% | -4.87% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.18% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.13% | — |
Current DrawdownCurrent decline from peak | -0.25% | 0.00% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -0.91% | -0.05% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.03% | — |
Volatility
STEN vs. CLOA - Volatility Comparison
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Volatility by Period
| STEN | CLOA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.16% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.47% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 9.35% | 0.68% | +8.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.35% | 1.29% | +8.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.35% | 1.29% | +8.06% |
STEN vs. CLOA - Expense Ratio Comparison
STEN has a 0.50% expense ratio, which is higher than CLOA's 0.20% expense ratio.
Dividends
STEN vs. CLOA - Dividend Comparison
STEN's dividend yield for the trailing twelve months is around 0.29%, less than CLOA's 4.89% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CLOA iShares AAA CLO Active ETF | 4.44% | 5.35% | 6.01% | 5.88% |
STEN iShares Large Cap 10% Target Buffer Sep ETF | 0.29% | 0.31% | 0.00% | 0.00% |
Frequently Asked Questions
STEN and CLOA have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CLOA is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CLOA is cheaper with a 0.20% expense ratio, compared with 0.50% for STEN.
CLOA has the higher dividend yield at 4.44%, compared with 0.29% for STEN.
STEN is categorized as Defined Outcome, while CLOA is CLO. Their fees differ too: 0.50% for STEN and 0.20% for CLOA.
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