---
ticker: "AAAP"
name: "Pacer Barings CLO Market Flex ETF"
url: "https://etf.net/etf/AAAP"
grade: "C"
score: 46
graded_at: "2026-10-12"
category: "Collateralized Loan Obligations (CLO)"
category_rank: "19 of 34"
methodology: "https://etf.net/methodology"
---

# AAAP: Pacer Barings CLO Market Flex ETF

Grade **C**, Score 46 of 100. Rank 19 of 34 in Collateralized Loan Obligations (CLO).

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 35 | 22 of 34 |
| Mission | Not scored | — |
| Risk | 81 | 1 of 33 |
| Tradability | 33 | 26 of 34 |
| Holdings | 55 | 20 of 34 |
| Durability | 38 | 26 of 34 |

## Top holdings

The fund holds 98 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Anchorage Capital CLO 31 Ltd 5.0292% 10/20/2038 | 2.79% |
| 2 | — | Bryant Park Funding 2023-21 Ltd 4.9992% 10/18/2038 | 2.79% |
| 3 | — | KKR CLO 45a Ltd 5.5029% 07/15/2038 | 2.25% |
| 4 | — | Eldridge CLO 2026-4 Ltd 4.9667% 07/23/2039 | 2.09% |
| 5 | — | Sixth Street CLO 32 Ltd 5.3135% 04/21/2039 | 1.87% |
| 6 | — | HPS Loan Management 2025-26 Ltd 5.0492% 07/20/2038 | 1.86% |
| 7 | — | Apidos CLO XXXV 5.0902% 07/20/2039 | 1.86% |
| 8 | — | Canyon Clo 2025-2 Ltd 5.0829% 10/15/2037 | 1.86% |
| 9 | — | CIFC Funding 2024-II Ltd 5.2217% 04/22/2037 | 1.86% |
| 10 | — | Katayma CLO II Ltd 5.5792% 04/20/2037 | 1.85% |
| 11 | — | U.S. Bank Money Market Deposit Account 06/01/2031 | 1.82% |
| 12 | — | Benefit Street Partners CLO XII-B Ltd 9.205% 10/15/2039 | 1.63% |
| 13 | — | KKR CLO 44 Ltd 5.4292% 01/20/2039 | 1.63% |
| 14 | — | Birch Grove CLO 8 Ltd 5.0192% 04/20/2039 | 1.63% |
| 15 | — | Anchorage Capital Clo 32 Ltd 10.4144% 07/15/2039 | 1.63% |
| 16 | — | Cash & Other | 1.51% |
| 17 | — | Elmwood CLO 26 Ltd 9.9092% 04/18/2039 | 1.42% |
| 18 | — | Eldridge CLO 2025-1 Ltd 5.0592% 10/20/2038 | 1.41% |
| 19 | — | Canyon CLO 2023-2 Ltd 10.03% 07/15/2039 | 1.40% |
| 20 | — | Benefit Street Partners CLO 49 Ltd 5.5315% 04/25/2039 | 1.40% |
| 21 | — | Symphony CLO 54 Ltd 5.2524% 07/22/2039 | 1.40% |
| 22 | — | Trestles CLO VIII Ltd 4.9305% 07/20/2039 | 1.40% |
| 23 | — | Kennedy Lewis CLO 21 Ltd 5.1602% 07/25/2038 | 1.40% |
| 24 | — | Trestles CLO VII Ltd 7.9191% 10/25/2039 | 1.40% |
| 25 | — | Dryden 123 CLO Ltd 7.4529% 04/15/2038 | 1.38% |
| 26 | — | OCP CLO 2025-48 Ltd 6.2029% 12/15/2038 | 1.35% |
| 27 | — | Eldridge CLO 2025-2 Ltd 6.5792% 01/20/2039 | 1.28% |
| 28 | — | Post CLO VI Ltd 5.5292% 01/20/2038 | 1.28% |
| 29 | — | GoldentTree Loan Management US CLO 1 Ltd 7.7291% 07/20/2040 | 1.17% |
| 30 | — | CIFC Funding 2024-III Ltd 9.06% 07/21/2039 | 1.17% |

Source: etf.net, https://etf.net/etf/AAAP. Please cite the page URL.