TFLR vs. CLOB

Last updated Aug 4, 2026

TFLR (T. Rowe Price Floating Rate ETF) and CLOB (VanEck AA-BB CLO ETF) are both exchange-traded funds - TFLR is a Bank Loan fund actively managed by T. Rowe Price, while CLOB is a CLO fund actively managed by VanEck. Both are actively managed. Over the past year, TFLR returned 4.91% vs 5.76% for CLOB. Their 0.21 correlation means their historical movements had little consistent relationship. TFLR charges 0.60%/yr vs 0.45%/yr for CLOB.

Performance

TFLR vs. CLOB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Floating Rate ETF (TFLR) and VanEck AA-BB CLO ETF (CLOB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TFLR achieves a 1.94% return, which is significantly lower than CLOB's 2.62% return.

TFLR

• 1D: -0.05%
• 1M: 0.63%
• 6M: 1.75%
• YTD: 1.94%
• 1Y: 4.91%
• 3Y*: 7.37%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.73%

CLOB

• 1D: 0.10%
• 1M: 0.48%
• 6M: 1.90%
• YTD: 2.62%
• 1Y: 5.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.70%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CLOB VanEck AA-BB CLO ETF	$1.41M	$885.70K	$614.19K
TFLR T. Rowe Price Floating Rate ETF	$4.37M	$3.92M	$4.00M

TFLR vs. CLOB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TFLR T. Rowe Price Floating Rate ETF	1.94%	6.57%	2.39%
CLOB VanEck AA-BB CLO ETF	2.62%	6.94%	2.77%

Correlation

The correlation between TFLR and CLOB is 0.24, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.24
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	0.21

Return for Risk

TFLR vs. CLOB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TFLR

TFLR Risk / Return Rank: 84
TFLR Sharpe Ratio Rank: 92
TFLR Sortino Ratio Rank: 93
TFLR Omega Ratio Rank: 95
TFLR Calmar Ratio Rank: 63
TFLR Martin Ratio Rank: 78

CLOB

CLOB Risk / Return Rank: 86
CLOB Sharpe Ratio Rank: 85
CLOB Sortino Ratio Rank: 86
CLOB Omega Ratio Rank: 91
CLOB Calmar Ratio Rank: 80
CLOB Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TFLR vs. CLOB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate ETF (TFLR) and VanEck AA-BB CLO ETF (CLOB). 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.

	TFLR	CLOB	Difference
Sharpe ratio: Return per unit of total volatility	2.46	2.04	+0.42
Sortino ratio: Return per unit of downside risk	3.66	2.94	+0.71
Omega ratio: Gain probability vs. loss probability	1.56	1.45	+0.11
Calmar ratio: Return relative to maximum drawdown	2.27	2.96	-0.69
Martin ratio: Return relative to average drawdown	10.31	12.76	-2.46

TFLR vs. CLOB - Sharpe Ratio Comparison

The current TFLR Sharpe Ratio is 2.46, which is comparable to the CLOB Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of TFLR and CLOB, 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

TFLR vs. CLOB - Drawdown Comparison

The maximum TFLR drawdown since its inception was -4.01%, smaller than the maximum CLOB drawdown of -5.54%. Use the drawdown chart below to compare losses from any high point for TFLR and CLOB.

Drawdown Indicators

	TFLR	CLOB	Difference
Max Drawdown Largest peak-to-trough decline	-4.01%	-5.54%	+1.53%
Max Drawdown (1Y) Largest decline over 1 year	-2.18%	-1.96%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-4.01%	—	—
Current Drawdown Current decline from peak	-0.11%	0.00%	-0.11%
Average Drawdown Average peak-to-trough decline	-0.21%	-0.28%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	0.45%	+0.03%

Volatility

TFLR vs. CLOB - Volatility Comparison

T. Rowe Price Floating Rate ETF (TFLR) has a higher volatility of 0.48% compared to VanEck AA-BB CLO ETF (CLOB) at 0.35%. This indicates that TFLR's price experiences larger fluctuations and is considered to be riskier than CLOB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TFLR	CLOB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.48%	0.35%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	1.76%	2.40%	-0.64%
Volatility (1Y) Calculated over the trailing 1-year period	2.01%	2.84%	-0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.61%	5.29%	-1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.61%	5.29%	-1.68%

TFLR vs. CLOB - Expense Ratio Comparison

TFLR has a 0.60% expense ratio, which is higher than CLOB's 0.45% expense ratio.

Dividends

TFLR vs. CLOB - Dividend Comparison

TFLR's dividend yield for the trailing twelve months is around 6.68%, more than CLOB's 6.23% yield.

Position	TTM	2025	2024	2023	2022
CLOB VanEck AA-BB CLO ETF	6.23%	6.61%	1.65%	0.00%	0.00%
TFLR T. Rowe Price Floating Rate ETF	6.68%	6.93%	8.18%	7.76%	0.58%

Frequently Asked Questions

Can I hold both TFLR and CLOB in my portfolio?

TFLR and CLOB have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TFLR or CLOB?

TFLR has higher volatility (0.48%) compared to CLOB (0.35%). In terms of maximum drawdown, TFLR dropped -4.01% vs CLOB's -5.54%.

Which ETF is better, TFLR or CLOB?

On 1-year performance, CLOB leads with 5.76% vs 4.91% for TFLR. On fees, CLOB is cheaper at 0.45% per year. On volatility, CLOB has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TFLR or CLOB?

Over the 1-year period, CLOB has performed better with a 5.76% return vs 4.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TFLR or CLOB?

CLOB is cheaper with a 0.45% expense ratio, compared with 0.60% for TFLR.

Which ETF pays a higher dividend yield, TFLR or CLOB?

TFLR has the higher dividend yield at 6.68%, compared with 6.23% for CLOB.

What is the main difference between TFLR and CLOB?

TFLR is categorized as Bank Loan, while CLOB is CLO. They also come from different issuers: T. Rowe Price and VanEck. Their fees differ too: 0.60% for TFLR and 0.45% for CLOB.

Which has better risk-adjusted returns?

TFLR currently has the higher Sharpe Ratio (2.46 vs 2.04), 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.