USDX vs. CLOB

Last updated Aug 2, 2026

USDX (SGI Enhanced Core ETF) and CLOB (VanEck AA-BB CLO ETF) are both exchange-traded funds - USDX is a Intermediate Core Bond fund actively managed by Summit Global Investments, while CLOB is a CLO fund actively managed by VanEck. Both are actively managed. Over the past year, USDX returned 6.38% vs 5.66% for CLOB. Their -0.05 correlation means they have often moved in opposite directions in the past. USDX charges 0.98%/yr vs 0.45%/yr for CLOB.

Performance

USDX vs. CLOB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SGI Enhanced Core ETF (USDX) and VanEck AA-BB CLO ETF (CLOB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USDX achieves a 2.99% return, which is significantly higher than CLOB's 2.52% return.

USDX

• 1D: 0.12%
• 1M: 0.49%
• 6M: 2.97%
• YTD: 2.99%
• 1Y: 6.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.69%

CLOB

• 1D: 0.01%
• 1M: 0.38%
• 6M: 1.94%
• YTD: 2.52%
• 1Y: 5.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.67%

*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)
CLOB VanEck AA-BB CLO ETF	$1.33M	$852.41K	$603.37K
USDX SGI Enhanced Core ETF	$1.08M	$1.35M	$1.41M

USDX vs. CLOB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
USDX SGI Enhanced Core ETF	2.99%	6.25%	2.14%
CLOB VanEck AA-BB CLO ETF	2.52%	6.94%	2.77%

Correlation

The correlation between USDX and CLOB is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.14
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	-0.05

Return for Risk

USDX vs. CLOB — Risk / Return Rank

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

USDX

USDX Risk / Return Rank: 97
USDX Sharpe Ratio Rank: 96
USDX Sortino Ratio Rank: 97
USDX Omega Ratio Rank: 97
USDX Calmar Ratio Rank: 97
USDX Martin Ratio Rank: 98

CLOB

CLOB Risk / Return Rank: 86
CLOB Sharpe Ratio Rank: 85
CLOB Sortino Ratio Rank: 87
CLOB Omega Ratio Rank: 91
CLOB Calmar Ratio Rank: 80
CLOB Martin Ratio Rank: 86

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.

USDX vs. CLOB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SGI Enhanced Core ETF (USDX) and VanEck AA-BB CLO ETF (CLOB). 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.

	USDX	CLOB	Difference
Sharpe ratio: Return per unit of total volatility	3.08	2.00	+1.08
Sortino ratio: Return per unit of downside risk	4.91	2.88	+2.02
Omega ratio: Gain probability vs. loss probability	1.75	1.44	+0.31
Calmar ratio: Return relative to maximum drawdown	6.89	2.90	+3.99
Martin ratio: Return relative to average drawdown	42.76	12.50	+30.25

USDX vs. CLOB - Sharpe Ratio Comparison

The current USDX Sharpe Ratio is 3.08, which is higher than the CLOB Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of USDX and CLOB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

USDX vs. CLOB - Drawdown Comparison

The maximum USDX drawdown since its inception was -0.94%, smaller than the maximum CLOB drawdown of -5.54%. Use the drawdown chart below to compare losses from any high point for USDX and CLOB.

Drawdown Indicators

	USDX	CLOB	Difference
Max Drawdown Largest peak-to-trough decline	-0.94%	-5.54%	+4.60%
Max Drawdown (1Y) Largest decline over 1 year	-0.94%	-1.96%	+1.02%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.07%	-0.28%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.15%	0.45%	-0.30%

Volatility

USDX vs. CLOB - Volatility Comparison

SGI Enhanced Core ETF (USDX) has a higher volatility of 0.58% compared to VanEck AA-BB CLO ETF (CLOB) at 0.35%. This indicates that USDX's price experiences larger fluctuations and is considered to be riskier than CLOB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USDX	CLOB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	0.35%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	1.67%	2.40%	-0.73%
Volatility (1Y) Calculated over the trailing 1-year period	2.10%	2.84%	-0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.76%	5.30%	-3.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.76%	5.30%	-3.54%

USDX vs. CLOB - Expense Ratio Comparison

USDX has a 0.98% expense ratio, which is higher than CLOB's 0.45% expense ratio.

Dividends

USDX vs. CLOB - Dividend Comparison

USDX's dividend yield for the trailing twelve months is around 6.66%, more than CLOB's 6.31% yield.

Position	TTM	2025	2024
CLOB VanEck AA-BB CLO ETF	5.71%	6.61%	1.65%
USDX SGI Enhanced Core ETF	6.66%	5.88%	4.60%

Frequently Asked Questions

Can I hold both USDX and CLOB in my portfolio?

USDX and CLOB have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USDX or CLOB?

USDX has higher volatility (0.58%) compared to CLOB (0.35%). In terms of maximum drawdown, USDX dropped -0.94% vs CLOB's -5.54%.

Which ETF is better, USDX or CLOB?

On 1-year performance, USDX leads with 6.38% vs 5.66% for CLOB. On fees, CLOB is cheaper at 0.45% per year. On volatility, CLOB has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USDX or CLOB?

Over the 1-year period, USDX has performed better with a 6.38% return vs 5.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USDX or CLOB?

CLOB is cheaper with a 0.45% expense ratio, compared with 0.98% for USDX.

Which ETF pays a higher dividend yield, USDX or CLOB?

USDX has the higher dividend yield at 6.66%, compared with 5.71% for CLOB.

What is the main difference between USDX and CLOB?

USDX is categorized as Intermediate Core Bond, while CLOB is CLO. They also come from different issuers: Summit Global Investments and VanEck. Their fees differ too: 0.98% for USDX and 0.45% for CLOB.

Which has better risk-adjusted returns?

USDX currently has the higher Sharpe Ratio (3.08 vs 2.00), 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.