CLOI vs SPY
CLOI vs SPY
VanEck CLO ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | CLOI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.36% | 0.09% | |
| AUM | $1.5B | $789.1B | |
| Dividend Yield | 5.33% | 1.01% | |
| Holdings | 158 | 505 | |
| YTD Return | +2.32% | +13.28% | |
| 1Y Return | +4.78% | +23.94% | |
| 3Y Return (annualized) | +6.39% | +21.07% | |
| 5Y Return (annualized) | - | +13.27% | |
| Volatility (annualized) | 1.7% | 15.3% | |
| Max Drawdown | -3.3% | -56.5% | |
| Fund Family | VanEck | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jun 21, 2022 | Jan 22, 1993 |
CLOI vs SPY Performance
VanEck CLO ETF (CLOI) is a ETF from VanEck and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CLOI returned +4.78% while SPY returned +23.94%. Year to date, CLOI is up 2.32% versus a gain of 13.28% for SPY.
Over three years, CLOI compounded at +6.39% per year against +21.07% for SPY. Across the full 4-year window we track, SPY has the edge at +8.84% annualized vs +6.67%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 1.7% for CLOI. 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 -3.3% for CLOI and -56.5% for SPY. 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 0.23. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CLOI charges 0.36% per year while SPY charges 0.09%. On a $10,000 position that is $36 vs $9 annually, a gap of $27 per year that compounds over a long holding period. On income, CLOI currently yields 5.33% against 1.01% for SPY.
Holdings Overlap
CLOI and SPY share 0 holdings out of 517 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CLOI or SPY?
CLOI has an expense ratio of 0.36% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $27 per year of difference.
Which performed better, CLOI or SPY?
Over the past year CLOI returned +4.78% vs +23.94% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), CLOI annualized +6.67% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, CLOI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 1.7% for CLOI. Worst drawdown: CLOI -3.3% vs SPY -56.5%.
Should I hold both CLOI and SPY?
CLOI and SPY have a monthly-return correlation of 0.23, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CLOI and SPY?
CLOI and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 517 unique securities.
Which pays a higher dividend, CLOI or SPY?
CLOI yields 5.33% while SPY yields 1.01%, so CLOI currently pays the higher dividend yield.
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