TIPX vs. BCLO
TIPX (SPDR Bloomberg Barclays 1-10 Year TIPS ETF) and BCLO (iShares BBB-B CLO Active ETF) are both exchange-traded funds - TIPX is a Inflation-Protected Bonds fund tracking the Bloomberg US Govt Inflation-Linked (1-10 Y), while BCLO is a CLO fund tracking the JP Morgan CLOIE High Quality Mezzanine Index. Both are passively managed. Over the past year, TIPX returned 5.04% vs 6.72% for BCLO. At a 0.00 correlation, their price movements are largely independent. TIPX charges 0.15%/yr vs 0.45%/yr for BCLO.
Performance
TIPX vs. BCLO - Performance Comparison
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Returns By Period
In the year-to-date period, TIPX achieves a 1.72% return, which is significantly lower than BCLO's 2.79% return.
TIPX
- 1D
- -0.05%
- 1M
- -0.17%
- YTD
- 1.72%
- 6M
- 1.48%
- 1Y
- 5.04%
- 3Y*
- 4.84%
- 5Y*
- 2.26%
- 10Y*
- 2.97%
BCLO
- 1D
- 0.05%
- 1M
- 1.24%
- YTD
- 2.79%
- 6M
- 3.32%
- 1Y
- 6.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TIPX vs. BCLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 1.72% | 6.00% |
BCLO iShares BBB-B CLO Active ETF | 2.79% | 5.43% |
Correlation
The correlation between TIPX and BCLO is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2025 | 0.00 |
The correlation between TIPX and BCLO shifts across timeframes, from -0.10 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TIPX vs. BCLO — Risk / Return Rank
TIPX
BCLO
TIPX vs. BCLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) 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.
| TIPX | BCLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.86 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | 3.52 | +0.39 |
| Martin ratioReturn relative to average drawdown | 13.22 | 13.00 | +0.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TIPX | BCLO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 3.33 | -1.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 1.42 | -0.91 |
Drawdowns
TIPX vs. BCLO - Drawdown Comparison
The maximum TIPX drawdown since its inception was -10.06%, which is greater than BCLO's maximum drawdown of -4.45%. Use the drawdown chart below to compare losses from any high point for TIPX and BCLO.
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Drawdown Indicators
| TIPX | BCLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.06% | -4.45% | -5.61% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -1.92% | +0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -2.45% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -10.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -10.06% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | 0.00% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -0.40% | -1.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.52% | -0.14% |
Volatility
TIPX vs. BCLO - Volatility Comparison
SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) has a higher volatility of 0.74% compared to iShares BBB-B CLO Active ETF (BCLO) at 0.48%. This indicates that TIPX's price experiences larger fluctuations and is considered to be riskier than BCLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIPX | BCLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 0.48% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 1.65% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.61% | 2.03% | +0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.64% | 4.39% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 4.39% | -0.02% |
TIPX vs. BCLO - Expense Ratio Comparison
TIPX has a 0.15% expense ratio, which is lower than BCLO's 0.45% expense ratio.
Dividends
TIPX vs. BCLO - Dividend Comparison
TIPX's dividend yield for the trailing twelve months is around 4.54%, less than BCLO's 6.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BCLO iShares BBB-B CLO Active ETF | 6.59% | 6.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 4.54% | 3.78% | 3.57% | 3.57% | 6.08% | 4.26% | 1.73% | 2.53% | 1.90% | 2.84% | 1.04% | 0.06% |
Frequently Asked Questions
TIPX and BCLO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TIPX has higher volatility (0.74%) compared to BCLO (0.48%). In terms of maximum drawdown, TIPX dropped -10.06% vs BCLO's -4.45%.
On 1-year performance, BCLO leads with 6.72% vs 5.04% for TIPX. On fees, TIPX is cheaper at 0.15% per year. On volatility, BCLO has been the lower-risk option at 0.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BCLO has performed better with a 6.72% return vs 5.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIPX is cheaper with a 0.15% expense ratio, compared with 0.45% for BCLO.
BCLO has the higher dividend yield at 6.59%, compared with 4.54% for TIPX.
TIPX is categorized as Inflation-Protected Bonds, while BCLO is CLO. TIPX tracks Bloomberg US Govt Inflation-Linked (1-10 Y), while BCLO tracks JP Morgan CLOIE High Quality Mezzanine Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for TIPX and 0.45% for BCLO.
BCLO currently has the higher Sharpe Ratio (3.33 vs 1.94), 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.
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