TRPA vs. YCLO

Last updated Jul 17, 2026

TRPA (Hartford AAA CLO ETF) and YCLO (Franklin BSP CLO ETF) are both CLO funds. Both are actively managed. At a correlation of -0.33, they often move in opposite directions.

Performance

TRPA vs. YCLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford AAA CLO ETF (TRPA) and Franklin BSP CLO ETF (YCLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TRPA

• 1D: 0.10%
• 1M: 0.26%
• 6M: 2.39%
• YTD: 2.45%
• 1Y: 4.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YCLO

• 1D: -0.02%
• 1M: 0.65%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TRPA vs. YCLO - Yearly Performance Comparison

	2026 (YTD)
TRPA Hartford AAA CLO ETF	0.53%
YCLO Franklin BSP CLO ETF	0.86%

Correlation

The correlation between TRPA and YCLO is -0.33, 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 Jun 4, 2026	-0.33

Return for Risk

TRPA vs. YCLO — Risk / Return Rank

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

TRPA

TRPA Risk / Return Rank: 92
TRPA Sharpe Ratio Rank: 86
TRPA Sortino Ratio Rank: 91
TRPA Omega Ratio Rank: 90
TRPA Calmar Ratio Rank: 97
TRPA Martin Ratio Rank: 97

YCLO

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

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.

TRPA vs. YCLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford AAA CLO ETF (TRPA) and Franklin BSP CLO ETF (YCLO). 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	YCLO	Difference
Sharpe ratio: Return per unit of total volatility	2.23	—	—
Sortino ratio: Return per unit of downside risk	3.54	—	—
Omega ratio: Gain probability vs. loss probability	1.46	—	—
Calmar ratio: Return relative to maximum drawdown	7.80	—	—
Martin ratio: Return relative to average drawdown	33.93	—	—

Drawdowns

TRPA vs. YCLO - Drawdown Comparison

The maximum TRPA drawdown since its inception was -0.61%, which is greater than YCLO's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for TRPA and YCLO.

Drawdown Indicators

	TRPA	YCLO	Difference
Max Drawdown Largest peak-to-trough decline	-0.61%	-0.04%	-0.57%
Max Drawdown (1Y) Largest decline over 1 year	-0.61%	—	—
Current Drawdown Current decline from peak	0.00%	-0.02%	+0.02%
Average Drawdown Average peak-to-trough decline	-0.09%	-0.00%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.14%	—	—

Volatility

Volatility by Period

	TRPA	YCLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.40%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.15%	0.47%	+1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.28%	0.47%	+1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.28%	0.47%	+1.81%

Dividends

TRPA vs. YCLO - Dividend Comparison

TRPA's dividend yield for the trailing twelve months is around 5.15%, more than YCLO's 0.31% yield.

Position	TTM	2025
TRPA Hartford AAA CLO ETF	5.15%	4.14%
YCLO Franklin BSP CLO ETF	0.31%	0.00%

Frequently Asked Questions

Can I hold both TRPA and YCLO in my portfolio?

TRPA and YCLO have a correlation of -0.33, 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, TRPA or YCLO?

TRPA has the higher dividend yield at 5.15%, compared with 0.31% for YCLO.

What is the main difference between TRPA and YCLO?

They also come from different issuers: Hartford and Franklin Templeton.