AAAC vs CLOC

AAACBColumbia AAA CLO ETF

CLOCBAAM Crescent CLO ETF

In short

AAAC A late arrival to the AAA CLO crowd, competing on price: 0.20% a year, under the category median, with an active hand picking the paper. The stated goal is high current income, with capital preservation riding shotgun.

CLOC A 2025 arrival in the CLO aisle that undercuts the category on fee: 0.18% a year, below the typical CLO fund and below the giants it competes with. Its mandate leads with capital preservation, then low correlation and current income.

Stated mandate

AAAC The Fund seeks high current income and capital preservation. Its strategy involves selecting collateralized loan obligations and other instruments through credit analysis.

CLOC The Fund seeks capital preservation, low correlation with traditional asset classes, and current income.

Why people hold it

• AAAC Charges 0.20% a year, under the CLO category median and level with what the biggest incumbents (JAAA, CLOA) charge.
• Actively managed, so a credit team selects the CLOs and other instruments through its own analysis instead of following an index.
• Even as a newcomer, the build stands in the upper tier of a crowded CLO peer group.
• Ordinary 1940 Act fund structure: same plumbing as a conventional bond ETF, no partnership paperwork.

• CLOC Cheapest seat in the CLO aisle: 0.18% a year against a 0.25% category median, and a step under the biggest AAA CLO funds (JAAA, CLOA, PAAA, FAAA, ACLO at 0.19%-0.20%).
• The mandate is unusually explicit: capital preservation first, low correlation with traditional asset classes second, current income third.
• Young, but it already stands in the upper half of a crowded 27-fund CLO group.

Worth knowing

• AAAC Launched in December 2025, so the track record is thin and risk measures rest on a short history.
• Payouts have arrived on an irregular schedule rather than a fixed monthly rhythm.
• Smaller and less traded than the category's established giants, which can mean wider spreads on large orders.

• CLOC Thinly traded next to the multi-billion-dollar CLO names, so spreads can be wider and larger orders take patience.
• Launched in October 2025, so the history is short and there is not yet a full credit cycle to judge it by.
• Distributions have come on an irregular schedule rather than a fixed monthly rhythm, so income timing is less predictable.

Full AAAC profile⁠

Full CLOC profile⁠