TIPB vs. BCLO

Last updated Aug 2, 2026

TIPB (Northern Trust 2035 Inflation-Linked Distributing Ladder ETF) and BCLO (iShares BBB-B CLO Active ETF) are both exchange-traded funds - TIPB is a Inflation-Protected Bonds fund actively managed by Northern Trust, while BCLO is a CLO fund tracking the JP Morgan CLOIE High Quality Mezzanine Index. TIPB is actively managed, while BCLO is passively managed. Their -0.11 correlation means they have often moved in opposite directions in the past. TIPB charges 0.10%/yr vs 0.45%/yr for BCLO.

Performance

TIPB vs. BCLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Trust 2035 Inflation-Linked Distributing Ladder ETF (TIPB) and iShares BBB-B CLO Active ETF (BCLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TIPB achieves a 1.32% return, which is significantly lower than BCLO's 3.10% return.

TIPB

• 1D: -0.11%
• 1M: -0.15%
• 6M: 0.74%
• YTD: 1.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

BCLO

• 1D: 0.09%
• 1M: 0.06%
• 6M: 2.26%
• YTD: 3.10%
• 1Y: 5.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.72%

*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)
BCLO iShares BBB-B CLO Active ETF	$627.81K	$426.45K	$315.81K
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	$2.11K	$9.22K	$33.66K

TIPB vs. BCLO - Yearly Performance Comparison

	2026 (YTD)	2025
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	1.32%	0.79%
BCLO iShares BBB-B CLO Active ETF	3.10%	1.99%

Correlation

The correlation between TIPB and BCLO is -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025	-0.11

Return for Risk

TIPB vs. BCLO — Risk / Return Rank

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

TIPB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BCLO

BCLO Risk / Return Rank: 91
BCLO Sharpe Ratio Rank: 96
BCLO Sortino Ratio Rank: 96
BCLO Omega Ratio Rank: 97
BCLO Calmar Ratio Rank: 83
BCLO Martin Ratio Rank: 83

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.

TIPB vs. BCLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Trust 2035 Inflation-Linked Distributing Ladder ETF (TIPB) and iShares BBB-B CLO Active ETF (BCLO). 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.

	TIPB	BCLO	Difference
Sharpe ratio: Return per unit of total volatility	—	2.89	—
Sortino ratio: Return per unit of downside risk	—	4.56	—
Omega ratio: Gain probability vs. loss probability	—	1.72	—
Calmar ratio: Return relative to maximum drawdown	—	3.06	—
Martin ratio: Return relative to average drawdown	—	11.27	—

Drawdowns

TIPB vs. BCLO - Drawdown Comparison

The maximum TIPB drawdown since its inception was -1.32%, smaller than the maximum BCLO drawdown of -4.45%. Use the drawdown chart below to compare losses from any high point for TIPB and BCLO.

Drawdown Indicators

	TIPB	BCLO	Difference
Max Drawdown Largest peak-to-trough decline	-1.32%	-4.45%	+3.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.92%	—
Current Drawdown Current decline from peak	-0.85%	-0.11%	-0.74%
Average Drawdown Average peak-to-trough decline	-0.42%	-0.37%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.52%	—

Volatility

Volatility by Period

	TIPB	BCLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.63%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.60%	2.03%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.60%	4.16%	-1.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.60%	4.16%	-1.56%

TIPB vs. BCLO - Expense Ratio Comparison

TIPB has a 0.10% expense ratio, which is lower than BCLO's 0.45% expense ratio.

Dividends

TIPB vs. BCLO - Dividend Comparison

TIPB's dividend yield for the trailing twelve months is around 4.16%, less than BCLO's 6.57% yield.

Position	TTM	2025
BCLO iShares BBB-B CLO Active ETF	5.97%	6.45%
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	4.16%	1.09%

Frequently Asked Questions

Can I hold both TIPB and BCLO in my portfolio?

TIPB and BCLO 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.

Which ETF is better, TIPB or BCLO?

On fees, TIPB is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TIPB or BCLO?

TIPB is cheaper with a 0.10% expense ratio, compared with 0.45% for BCLO.

Which ETF pays a higher dividend yield, TIPB or BCLO?

BCLO has the higher dividend yield at 5.97%, compared with 4.16% for TIPB.

What is the main difference between TIPB and BCLO?

TIPB is categorized as Inflation-Protected Bonds, while BCLO is CLO. They also come from different issuers: Northern Trust and iShares. Their fees differ too: 0.10% for TIPB and 0.45% for BCLO.