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AAAP vs CLOA

Pacer Barings CLO Market Flex ETF

AAAPCNasdaq

iShares AAA CLO Active ETF

CLOAANasdaq

Overlap

No data

Expense ratio

CLOA −0.19pt a year

AAAP0.39%CLOA0.20%

Avg volume · 30D

CLOA 12.0×the volume

AAAP49.3KCLOA593K

AAAP vs CLOA Performance

Jul 31, 2026 – Oct 30, 2026

+1.1%AAAP+1.1%CLOA

Jul 31, 2026 to Oct 30, 2026. AAAP +1.1%. CLOA +1.1%. Use the arrow keys to read each point.0%0.25%0.5%0.75%Jul 2026Sep 2026Oct 2026
Expense ratio
AAAP 0.39%
CLOA 0.20%, better
Fund size
AAAP $108M
CLOA $2.8B
1Y total return
AAAP No data
CLOA +5.0%
Yield (12M)
AAAP No data
CLOA 4.77%
Holdings
AAAP 98
CLOA 458
Avg volume (30D)
AAAP 49.3K sh
CLOA 593K sh, better
NAV per share
AAAP $25.20
CLOA $51.96
52W range

ETF.net Grade

AAAP: Cost 32, Risk 79, Mission not scored, Tradability 35, Holdings 52, Durability 38. CLOA: Cost 80, Risk 68, Mission not scored, Tradability 94, Holdings 98, Durability 91.
Pillar letters and Scores for AAAP, CLOA, with each pillar’s weight
PillarAAAPCLOA
Cost30% weightD32A80Higher
Mission25% weightNot scoredNot scored
Risk15% weightA79HigherB68
Tradability15% weightD35A94Higher
Holdings10% weightC52A98Higher
Durability5% weightD38A91Higher

Rank among Collateralized Loan Obligations (CLO) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. AAAP and CLOA are both graded against the same 34 Collateralized Loan Obligations (CLO) funds, so their Grades compare head to head.

Collateralized Loan Obligations (CLO)⁠

Category · 34 funds
See all 34 ›

CLOA ranks 1st and AAAP 20th of 34 funds in the Collateralized Loan Obligations (CLO) Category.

  1. Rank 1ACLOAiShares AAA CLO Active ETFScore 83
  2. Rank 1AJAAAJanus Henderson AAA CLO ETFScore 83
  3. Rank 20CAAADPGIM AAA CLO Aggregate Duration ETFScore 44
  4. Rank 20CAAAPPacer Barings CLO Market Flex ETFScore 44
  5. Rank 22CFCLOFidelity CLO ETFScore 42

Our read on each fund

ETF.net Research

AAAPCPacer Barings CLO Market Flex ETF

CLOAAiShares AAA CLO Active ETF

In short

AAAP No data

CLOA BlackRock's play in AAA CLOs: active credit picking measured against J.P. Morgan's CLOIE AAA index, 0.20% a year, spread over roughly 400 positions. A billion-dollar-plus book built since its 2023 launch.

Stated mandate

AAAP No data

CLOA The fund seeks exposure to U.S. dollar-denominated AAA-rated collateralized loan obligations, using active credit selection to pursue income and capital preservation with potentially low volatility.

Why people hold it

AAAP No data

  • CLOA Charges 0.20% a year, below the 0.25% typical for CLO funds and level with what most of the category's biggest names (JAAA, FAAA, ACLO) charge.
  • Roughly 400 separate CLO positions, one of the deepest books in its peer group, so no single deal carries the fund.
  • Actively run: the team selects deals and CLO managers instead of buying whatever a benchmark holds. The CLOIE AAA index is the yardstick, not the rulebook.
  • Income arrives monthly, and it sits among the easier funds in its cohort to get in and out of.

Worth knowing

AAAP No data

  • CLOA Active means manager-dependent. There is no index to fall back on, so outcomes hinge on which deals the desk picks.
  • The mandate pursues income and capital preservation with potentially low volatility. That is the aim, not a floor; CLO prices still move.
  • Trading since January 2023, so its record is short next to long-running bond funds and covers a narrow slice of credit history.

Full AAAP profile⁠

Full CLOA profile⁠

AAAP vs CLOA Holdings

As of
How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AAAP vs CLOA Cost

Overpaying AAAP vs CLOA

$3,743

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AAAP 0.39%

    $7,898

  • CLOA 0.20%

    $4,155

$10,000
30 years

Cost over time

  • AAAP 0.39%
  • CLOA 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530AAAP $7,898CLOA $4,155

Year by year

YearAAAPCLOAOverpaying
10$705$365$340
20$2,725$1,421$1,304
30$7,898$4,155$3,743

Expense ratio

  • 0.39%AAAP
  • 0.20%CLOA, cheaper
  • Middle half of Collateralized Loan Obligations (CLO) funds
  • Median 0.28%

CLOA 8th cheapest of 34 funds

AAAP 23rd cheapest of 34 funds

AAAP vs CLOA Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AAAP No data
CLOA 4.77%
Payout (12M)
AAAP No data
CLOA $2.48
Last payment
AAAP $0.13
CLOA $0.20
Ex-dividend
AAAP Oct 30, 2026
CLOA Oct 1, 2026
Paid on
AAAP Pays Nov 2, 2026
CLOA Oct 6, 2026
Frequency
AAAP Monthly
CLOA Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

AAAPMonthly · 4 paymentsAll AAAP payments⁠
One bar per payment. 4 payments from 2023 to 2026 YTD. Jul 31, 2026 $0.06; Aug 31, 2026 $0.10; Sep 30, 2026 $0.12; Oct 30, 2026 $0.13. Use the arrow keys to read each point.$0$0.2520232026YTD
CLOAMonthly · 44 paymentsAll CLOA payments⁠
One bar per payment. 44 payments from 2023 to 2026 YTD. Mar 1, 2023 $0.35; Apr 3, 2023 $0.25; May 1, 2023 $0.26; Jun 1, 2023 $0.28; Jul 3, 2023 $0.25; Aug 1, 2023 $0.25; Sep 1, 2023 $0.29; Oct 2, 2023 $0.25; Nov 1, 2023 $0.26; Dec 1, 2023 $0.27; Dec 14, 2023 $0.31; Feb 1, 2024 $0.24; Mar 1, 2024 $0.24; Apr 1, 2024 $0.28; May 1, 2024 $0.23; Jun 3, 2024 $0.27; Jul 1, 2024 $0.26; Aug 1, 2024 $0.25; Sep 3, 2024 $0.28; Oct 1, 2024 $0.27; Nov 1, 2024 $0.27; Dec 2, 2024 $0.26; Dec 18, 2024 $0.24; Feb 3, 2025 $0.24; Mar 3, 2025 $0.22; Apr 1, 2025 $0.25; May 1, 2025 $0.24; Jun 2, 2025 $0.24; Jul 1, 2025 $0.22; Aug 1, 2025 $0.23; Sep 2, 2025 $0.23; Oct 1, 2025 $0.22; Nov 3, 2025 $0.24; Dec 1, 2025 $0.21; Dec 19, 2025 $0.23; Feb 2, 2026 $0.21; Mar 2, 2026 $0.19; Apr 1, 2026 $0.19; May 1, 2026 $0.20; Jun 1, 2026 $0.20; Jul 1, 2026 $0.20; Aug 3, 2026 $0.21; Sep 1, 2026 $0.21; Oct 1, 2026 $0.20. Use the arrow keys to read each point.$0$0.2520232026YTD

AAAP vs CLOA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AAAP No dataCLOA 0.8%
Return per unit of riskSharpe ratio, 3 years
AAAP No dataCLOA 2.24
Worst fallMax drawdown, 5 years
AAAP No dataCLOA −1.4%since Jan 2023
Market sensitivityBeta, 5 years
AAAP 0.02CLOA 0.01

AAAP and CLOA in the news

All news⁠

Popular comparisons

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