THTA vs. CLOZ

Last updated Jun 4, 2026

THTA (SoFi Enhanced Yield ETF) and CLOZ (Panagram Bbb-B Clo ETF) are both exchange-traded funds - THTA is a Derivative Income fund actively managed by SoFi, while CLOZ is a CLO fund actively managed by Panagram. Both are actively managed. Over the past year, THTA returned 16.78% vs 6.21% for CLOZ. At a 0.24 correlation, their price movements are largely independent. THTA charges 0.49%/yr vs 0.50%/yr for CLOZ.

Performance

THTA vs. CLOZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SoFi Enhanced Yield ETF (THTA) and Panagram Bbb-B Clo ETF (CLOZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THTA achieves a 6.86% return, which is significantly higher than CLOZ's 2.53% return.

THTA

• 1D: -0.02%
• 1M: 0.56%
• YTD: 6.86%
• 6M: 8.04%
• 1Y: 16.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLOZ

• 1D: -0.02%
• 1M: 0.66%
• YTD: 2.53%
• 6M: 3.13%
• 1Y: 6.21%
• 3Y*: 10.62%
• 5Y*: —
• 10Y*: —

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

THTA vs. CLOZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
THTA SoFi Enhanced Yield ETF	6.86%	-10.24%	7.31%	1.04%
CLOZ Panagram Bbb-B Clo ETF	2.53%	5.99%	11.85%	2.92%

Correlation

The correlation between THTA and CLOZ is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (All Time) Calculated using the full available price history since Nov 16, 2023	0.24

Return for Risk

THTA vs. CLOZ — Risk / Return Rank

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

THTA

THTA Risk / Return Rank: 92
THTA Sharpe Ratio Rank: 87
THTA Sortino Ratio Rank: 90
THTA Omega Ratio Rank: 95
THTA Calmar Ratio Rank: 92
THTA Martin Ratio Rank: 97

CLOZ

CLOZ Risk / Return Rank: 47
CLOZ Sharpe Ratio Rank: 51
CLOZ Sortino Ratio Rank: 45
CLOZ Omega Ratio Rank: 75
CLOZ Calmar Ratio Rank: 32
CLOZ Martin Ratio Rank: 34

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.

THTA vs. CLOZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SoFi Enhanced Yield ETF (THTA) 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.

	THTA	CLOZ	Difference
Sharpe ratio: Return per unit of total volatility	2.91	1.81	+1.10
Sortino ratio: Return per unit of downside risk	4.29	2.31	+1.99
Omega ratio: Gain probability vs. loss probability	1.75	1.46	+0.29
Calmar ratio: Return relative to maximum drawdown	6.39	1.60	+4.79
Martin ratio: Return relative to average drawdown	52.08	5.31	+46.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THTA vs. CLOZ - Sharpe Ratio Comparison

The current THTA Sharpe Ratio is 2.91, which is higher than the CLOZ Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of THTA 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.

Sharpe Ratios by Period

	THTA	CLOZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.91	1.81	+1.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	2.77	-2.69

Drawdowns

THTA vs. CLOZ - Drawdown Comparison

The maximum THTA drawdown since its inception was -31.41%, which is greater than CLOZ's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for THTA and CLOZ.

Drawdown Indicators

	THTA	CLOZ	Difference
Max Drawdown Largest peak-to-trough decline	-31.41%	-5.32%	-26.09%
Max Drawdown (1Y) Largest decline over 1 year	-2.64%	-3.90%	+1.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.32%	—
Current Drawdown Current decline from peak	-6.79%	-0.12%	-6.67%
Average Drawdown Average peak-to-trough decline	-7.52%	-0.38%	-7.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	1.17%	-0.85%

Volatility

THTA vs. CLOZ - Volatility Comparison

SoFi Enhanced Yield ETF (THTA) has a higher volatility of 0.75% compared to Panagram Bbb-B Clo ETF (CLOZ) at 0.42%. This indicates that THTA's price experiences larger fluctuations and is considered to be riskier than CLOZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THTA	CLOZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	0.42%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	4.00%	3.13%	+0.87%
Volatility (1Y) Calculated over the trailing 1-year period	5.80%	3.45%	+2.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.25%	3.80%	+16.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.25%	3.80%	+16.45%

THTA vs. CLOZ - Expense Ratio Comparison

THTA has a 0.49% expense ratio, which is lower than CLOZ's 0.50% expense ratio.

Dividends

THTA vs. CLOZ - Dividend Comparison

THTA's dividend yield for the trailing twelve months is around 11.26%, more than CLOZ's 7.39% yield.

Position	TTM	2025	2024	2023
CLOZ Panagram Bbb-B Clo ETF	7.39%	7.63%	9.09%	8.81%
THTA SoFi Enhanced Yield ETF	11.26%	12.66%	12.44%	0.58%

Frequently Asked Questions

Can I hold both THTA and CLOZ in my portfolio?

THTA and CLOZ have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THTA or CLOZ?

THTA has higher volatility (0.75%) compared to CLOZ (0.42%). In terms of maximum drawdown, THTA dropped -31.41% vs CLOZ's -5.32%.

Which ETF is better, THTA or CLOZ?

On 1-year performance, THTA leads with 16.78% vs 6.21% for CLOZ. On fees, THTA is cheaper at 0.49% per year. On volatility, CLOZ has been the lower-risk option at 0.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, THTA or CLOZ?

Over the 1-year period, THTA has performed better with a 16.78% return vs 6.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THTA or CLOZ?

THTA is cheaper with a 0.49% expense ratio, compared with 0.50% for CLOZ.

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

THTA has the higher dividend yield at 11.26%, compared with 7.39% for CLOZ.

What is the main difference between THTA and CLOZ?

THTA is categorized as Derivative Income, while CLOZ is CLO. They also come from different issuers: SoFi and Panagram. Their fees differ too: 0.49% for THTA and 0.50% for CLOZ.

Which has better risk-adjusted returns?

THTA currently has the higher Sharpe Ratio (2.91 vs 1.81), 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.