CLOA vs IVV
CLOA vs IVV
iShares AAA CLO Active ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | CLOA | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.03% | |
| AUM | $2.2B | $865.2B | |
| Dividend Yield | 4.95% | 1.09% | |
| Holdings | 433 | 508 | |
| YTD Return | +2.75% | +9.93% | |
| 1Y Return | +5.19% | +19.59% | |
| 3Y Return (annualized) | +7.75% | +19.41% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 1.2% | 15.1% | |
| Max Drawdown | -1.3% | -56.5% | |
| Fund Family | BlackRock, Inc. (US) | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jan 10, 2023 | May 15, 2000 |
CLOA vs IVV Performance
iShares AAA CLO Active ETF (CLOA) is a ETF from BlackRock, Inc. (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year CLOA returned +5.19% while IVV returned +19.59%. Year to date, CLOA is up 2.75% versus a gain of 9.93% for IVV.
Over three years, CLOA compounded at +7.75% per year against +19.41% for IVV. Across the full 4-year window we track, CLOA has the edge at +7.93% annualized vs +6.91%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 1.2% for CLOA. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -1.3% for CLOA and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.46. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CLOA charges 0.20% per year while IVV charges 0.03%. On a $10,000 position that is $20 vs $3 annually, a gap of $17 per year that compounds over a long holding period. On income, CLOA currently yields 4.95% against 1.09% for IVV.
Holdings Overlap
CLOA and IVV share 1 holdings out of 544 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in CLOA | Weight in IVV | Difference |
|---|---|---|---|
| XTSLA | 0.60% | 0.15% | 0.45% |
Frequently Asked Questions
Which is cheaper, CLOA or IVV?
CLOA has an expense ratio of 0.20% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $17 per year of difference.
Which performed better, CLOA or IVV?
Over the past year CLOA returned +5.19% vs +19.59% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (4 years), CLOA annualized +7.93% vs +6.91% for IVV. Past performance does not guarantee future results.
Which is riskier, CLOA or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 1.2% for CLOA. Worst drawdown: CLOA -1.3% vs IVV -56.5%.
Should I hold both CLOA and IVV?
CLOA and IVV have a monthly-return correlation of 0.46, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CLOA and IVV?
CLOA and IVV share 1 common holdings with a 0.1% weight overlap. Combined, they hold 544 unique securities.
Which pays a higher dividend, CLOA or IVV?
CLOA yields 4.95% while IVV yields 1.09%, so CLOA currently pays the higher dividend yield.
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