TIPB vs. BCLO

Last updated Jun 4, 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. At a correlation of -0.13, they often move in opposite directions.

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 1.86% return, which is significantly lower than BCLO's 2.79% return.

TIPB

• 1D: -0.12%
• 1M: -0.22%
• YTD: 1.86%
• 6M: 1.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BCLO

• 1D: 0.05%
• 1M: 1.24%
• YTD: 2.79%
• 6M: 3.32%
• 1Y: 6.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TIPB vs. BCLO - Yearly Performance Comparison

	2026 (YTD)	2025
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	1.86%	0.79%
BCLO iShares BBB-B CLO Active ETF	2.79%	1.97%

Correlation

The correlation between TIPB and BCLO is -0.13, 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 (All Time) Calculated using the full available price history since Aug 20, 2025	-0.13

Return for Risk

TIPB vs. BCLO — Risk / Return Rank

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

BCLO

BCLO Risk / Return Rank: 85
BCLO Sharpe Ratio Rank: 92
BCLO Sortino Ratio Rank: 95
BCLO Omega Ratio Rank: 97
BCLO Calmar Ratio Rank: 71
BCLO Martin Ratio Rank: 69

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.

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.

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

Sharpe Ratios by Period

	TIPB	BCLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	1.42	-0.07

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	-0.31%	0.00%	-0.31%
Average Drawdown Average peak-to-trough decline	-0.37%	-0.40%	+0.03%
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	—	0.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.65%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.54%	2.03%	+0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.54%	4.39%	-1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.54%	4.39%	-1.85%

Dividends

TIPB vs. BCLO - Dividend Comparison

TIPB's dividend yield for the trailing twelve months is around 3.02%, less than BCLO's 6.59% yield.

Position	TTM	2025
BCLO iShares BBB-B CLO Active ETF	6.59%	6.45%
TIPB Northern Trust 2035 Inflation-Linked Distributing Ladder ETF	3.02%	1.09%

Frequently Asked Questions

Can I hold both TIPB and BCLO in my portfolio?

TIPB and BCLO have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

BCLO has the higher dividend yield at 6.59%, compared with 3.02% 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.