CLOZ vs SPY
CLOZ vs SPY
Eldridge BBB-B 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 | CLOZ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $778M | $789.1B | |
| Dividend Yield | 6.82% | 1.01% | |
| Holdings | 169 | 505 | |
| YTD Return | +2.80% | +13.79% | |
| 1Y Return | +5.13% | +23.66% | |
| 3Y Return (annualized) | +8.68% | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 3.9% | 15.3% | |
| Max Drawdown | -5.3% | -56.5% | |
| Fund Family | ELDRIDGE | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jan 24, 2023 | Jan 22, 1993 |
CLOZ vs SPY Performance
Eldridge BBB-B CLO ETF (CLOZ) is a ETF from ELDRIDGE and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CLOZ returned +5.13% while SPY returned +23.66%. Year to date, CLOZ is up 2.80% versus a gain of 13.79% for SPY.
Over three years, CLOZ compounded at +8.68% per year against +21.40% for SPY. Across the full 4-year window we track, CLOZ has the edge at +9.84% annualized vs +8.85%. 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 3.9% for CLOZ. 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 -5.3% for CLOZ 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 0.47. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CLOZ charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, CLOZ currently yields 6.82% against 1.01% for SPY.
Holdings Overlap
CLOZ and SPY share 0 holdings out of 511 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, CLOZ or SPY?
CLOZ has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, CLOZ or SPY?
Over the past year CLOZ returned +5.13% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), CLOZ annualized +9.84% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, CLOZ or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 3.9% for CLOZ. Worst drawdown: CLOZ -5.3% vs SPY -56.5%.
Should I hold both CLOZ and SPY?
CLOZ and SPY have a monthly-return correlation of 0.47, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CLOZ and SPY?
CLOZ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 511 unique securities.
Which pays a higher dividend, CLOZ or SPY?
CLOZ yields 6.82% while SPY yields 1.01%, so CLOZ currently pays the higher dividend yield.
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