ABI vs CLOC

ABIDVictoryShares Pioneer Asset-Based Inc ETF

CLOCBAAM Crescent 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.

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

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.

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

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.

• 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

• 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.

• 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 ABI profile⁠

Full CLOC profile⁠