TRPA vs. BCLO
TRPA (Hartford AAA CLO ETF) and BCLO (iShares BBB-B CLO Active ETF) are both CLO funds. TRPA is actively managed, while BCLO is passively managed. Over the past year, TRPA returned 5.51% vs 6.85% for BCLO. At a 0.19 correlation, their price movements are largely independent. TRPA charges 0.24%/yr vs 0.45%/yr for BCLO.
Performance
TRPA vs. BCLO - Performance Comparison
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Returns By Period
In the year-to-date period, TRPA achieves a 2.30% return, which is significantly lower than BCLO's 3.08% return.
TRPA
- 1D
- 0.04%
- 1M
- 0.50%
- YTD
- 2.30%
- 6M
- 2.43%
- 1Y
- 5.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BCLO
- 1D
- 0.12%
- 1M
- 0.53%
- YTD
- 3.08%
- 6M
- 3.11%
- 1Y
- 6.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TRPA vs. BCLO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TRPA Hartford AAA CLO ETF | 2.30% | 4.82% |
BCLO iShares BBB-B CLO Active ETF | 3.08% | 7.94% |
Correlation
The correlation between TRPA and BCLO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2025 | 0.19 |
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Return for Risk
TRPA vs. BCLO — Risk / Return Rank
TRPA
BCLO
TRPA vs. BCLO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hartford AAA CLO ETF (TRPA) 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.
| TRPA | BCLO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.91 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | 9.06 | 3.59 | +5.47 |
| Martin ratioReturn relative to average drawdown | 36.94 | 13.26 | +23.68 |
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Drawdowns
TRPA vs. BCLO - Drawdown Comparison
The maximum TRPA drawdown since its inception was -0.61%, smaller than the maximum BCLO drawdown of -4.45%. Use the drawdown chart below to compare losses from any high point for TRPA and BCLO.
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Drawdown Indicators
| TRPA | BCLO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.61% | -4.45% | +3.84% |
Max Drawdown (1Y)Largest decline over 1 year | -0.61% | -1.92% | +1.31% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -0.39% | +0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.15% | 0.52% | -0.37% |
Volatility
TRPA vs. BCLO - Volatility Comparison
Hartford AAA CLO ETF (TRPA) and iShares BBB-B CLO Active ETF (BCLO) have volatilities of 0.23% and 0.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRPA | BCLO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.23% | 0.23% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.50% | 1.63% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.31% | 2.01% | +0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.33% | 4.31% | -1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.33% | 4.31% | -1.98% |
TRPA vs. BCLO - Expense Ratio Comparison
TRPA has a 0.24% expense ratio, which is lower than BCLO's 0.45% expense ratio.
Dividends
TRPA vs. BCLO - Dividend Comparison
TRPA's dividend yield for the trailing twelve months is around 5.17%, less than BCLO's 6.57% yield.
| Position | TTM | 2025 |
|---|---|---|
BCLO iShares BBB-B CLO Active ETF | 6.57% | 6.45% |
TRPA Hartford AAA CLO ETF | 5.17% | 4.14% |
Frequently Asked Questions
TRPA and BCLO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BCLO has higher volatility (0.23%) compared to TRPA (0.23%). In terms of maximum drawdown, TRPA dropped -0.61% vs BCLO's -4.45%.
On 1-year performance, BCLO leads with 6.85% vs 5.51% for TRPA. On fees, TRPA is cheaper at 0.24% per year. Their volatility is very similar. 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 6.85% return vs 5.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TRPA is cheaper with a 0.24% expense ratio, compared with 0.45% for BCLO.
BCLO has the higher dividend yield at 6.57%, compared with 5.17% for TRPA.
They also come from different issuers: Hartford and iShares. Their fees differ too: 0.24% for TRPA and 0.45% for BCLO.
BCLO currently has the higher Sharpe Ratio (3.43 vs 2.39), 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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