ABI vs ACLO: Grades, Fees and Holdings Compared

VictoryShares Pioneer Asset-Based Inc ETF

ABIDNasdaq

TCW AAA CLO ETF

ACLOANYSE

Overlap

No data

Expense ratio

ACLO −0.45pt a year

ABI0.65%ACLO0.20%

Avg volume · 30D

ABI 5.9×the volume

ABI215KACLO36.8K

ABI vs ACLO Performance

Oct 31, 2025 – Oct 30, 2026

+4.5%ABI+5.0%ACLO

Expense ratio: ABI 0.65%; ACLO 0.20%, better
Fund size: ABI $548M; ACLO $596M
1Y total return: ABI +4.5%; ACLO +5.0%, better
Yield (12M): ABI 6.06%, better; ACLO 4.89%
Holdings: ABI 250; ACLO 368
Avg volume (30D): ABI 215K sh, better; ACLO 36.8K sh
NAV per share: ABI $24.53; ACLO $50.53
52W range

ETF.net Grade

Pillar letters and Scores for ABI, ACLO, with each pillar’s weight
Pillar	ABI	ACLO
Cost30% weight	F3	A80Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	C53	B64Higher
Tradability15% weight	B61	A70Higher
Holdings10% weight	B58	A84Higher
Durability5% weight	A71Higher	B64

Rank among Collateralized Loan Obligations (CLO) funds

How we build Categories ›

Same Category. ABI and ACLO 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 ›

ACLO ranks 4th and ABI 26th of 34 funds in the Collateralized Loan Obligations (CLO) Category.

Rank 1ACLOAiShares AAA CLO Active ETFScore 83
Rank 1AJAAAJanus Henderson AAA CLO ETFScore 83
Rank 3APAAAPGIM AAA CLO ETFScore 82
Rank 4AACLOTCW AAA CLO ETFScore 74
Rank 5AFAAAFIDELITY AAA CLO ETFScore 73
Rank 25DCLOZEldridge BBB-B CLO ETFScore 38
Rank 26DABIVictoryShares Pioneer Asset-Based Inc ETFScore 36
Rank 27DBCLOiShares BBB-B CLO Active ETFScore 35

Our read on each fund

ETF.net Research

ABIDVictoryShares Pioneer Asset-Based Inc ETF

ACLOATCW AAA CLO ETF

In short

ABI Most funds in this corner buy one thing: AAA CLO tranches. ABI roams the whole securitized aisle instead (CLOs, CMOs, CMBS, ABS), stock-picked by an active manager into a compact bond book that pays monthly.

ACLO A 2024 arrival in the crowded AAA CLO aisle. TCW runs it actively, holding roughly 300 of the highest-rated slices of leveraged-loan pools, paying income monthly, at a fee matching the category's cheapest tier.

Stated mandate

ABI The Fund seeks attractive total return by primarily investing in asset-based income investments, including debt instruments collateralized by specific assets such as CMOs, CLOs, CMBS, and ABS.

ACLO The fund seeks capital preservation and current income through principal investment in U.S. dollar-denominated AAA-rated collateralized loan obligations.

Why people hold it

ABI Broader mandate than the AAA-CLO crowd: the fund invests across asset-backed income, including CMOs, CLOs, CMBS and ABS, rather than a single slice of the securitized market.
Actively managed and concentrated, roughly 40 positions. A human is picking which collateral pools to own instead of buying the index wholesale.
Pays monthly, which suits investors who like their bond income arriving on a regular cadence.

ACLO At 0.20% it undercuts the AAA CLO cohort median of 0.25% and matches the cheapest names in the group, including JAAA and CLOA.
The mandate is stated narrowly: capital preservation and current income from US dollar AAA-rated CLOs, the top-rated tranches of the structure.tcw.com
Roughly 300 positions, chosen deal by deal rather than tracked, so no single CLO carries the portfolio.
Pays monthly, and the portfolio itself grades out as one of the stronger books among AAA CLO funds.

Worth knowing

ABI Active management carries an active price: 0.87% a year, against the 0.19% to 0.20% charged by the large AAA CLO funds like JAAA, CLOA and PAAA.
Launched in June 2025, so the track record is short and the fund trades lightly. Thin volume can mean wider gaps between the price you pay and the value of the bonds inside.
Reaching beyond AAA CLOs into CMBS, ABS and CMOs adds credit and complexity that a pure top-tranche fund avoids. More levers to pull, more that can move.

ACLO It trades lightly next to the giants of the category, so spreads can run wider. Limit orders earn their keep here.
Launched in late 2024, so the record is short and has not spanned a full credit cycle.
Active with no declared index, so there is no tracking figure to hold it to. Results ride on TCW's deal selection.

Full ABI profile⁠

Full ACLO profile⁠

ABI vs ACLO Holdings

How ABI and ACLO differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile13.8%
Asset classFixed Income100%

Sector

No Sector split for ABI and ACLO.

Country, concentration and asset class

Country by domicile

Country weights in ABI and ACLO, widest gap first
Country	More in ABIMore in ACLO	ABI	ACLO
United States	ABI +86.1 points	91.9%	5.8%
Cayman Islands	ACLO +78.6 points	7.9%	86.5%
United Kingdom	ACLO +3.9 points	0.0%	3.9%
Ireland	ACLO +3.7 points	0.1%	3.8%
Bermuda	Same weight	0.1%	0.1%

Outside the US: ACLO 8% developed, 92% emerging.

Concentration

Weight in the 10 largest Holdings

ABI27.4%
ACLO9.4%

Securities held

ABI216
ACLO365

Asset class

ABI: Fixed Income
ACLO: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. ABI holds 216 securities, ACLO 365.

All ABI holdings⁠All 363 ACLO holdings⁠

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.

ABI vs ACLO Cost

Overpaying ABI vs ACLO

$8,562

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

ABI 0.65%
$12,717
ACLO 0.20%
$4,155

Amount$10,000

Years30 years

Cost over time

ABI 0.65%
ACLO 0.20%
Overpaying

Year by year

Year	ABI	ACLO	Overpaying
10	$1,163	$365	$798
20	$4,440	$1,421	$3,019
30	$12,717	$4,155	$8,562

Expense ratio

0.65%ABI
0.20%ACLO, cheaper

ACLO0.20%ABI0.65%

0.18%0.68%

Middle half of Collateralized Loan Obligations (CLO) funds
Median 0.28%

ACLO 8th cheapest of 34 funds

ABI 33rd cheapest of 34 funds

ABI vs ACLO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ABI 6.06%, better; ACLO 4.89%
Payout (12M): ABI $1.49; ACLO $2.47
Last payment: ABI $0.07; ACLO $0.19
Ex-dividend: ABI Oct 8, 2026; ACLO Oct 1, 2026
Paid on: ABI Oct 9, 2026; ACLO Oct 5, 2026
Frequency: ABI Monthly; ACLO Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

ABIMonthly · 16 paymentsAll ABI payments⁠

ACLOMonthly · 24 paymentsAll ACLO payments⁠

ABI vs ACLO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: ABI 1.5%since Jul 2025ACLO 0.6%since Dec 2024
Return per unit of riskSharpe ratio, 3 years: ABI 0.24since Jul 2025ACLO 1.74since Dec 2024
Worst fallMax drawdown, 5 years: ABI −1.0%since Jun 2025ACLO −1.0%since Nov 2024
Market sensitivityBeta, 5 years: ABI 0.04ACLO 0.04; Market = 1

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