ACLO vs ASEC: Grades, Fees and Holdings Compared

TCW AAA CLO ETF

ACLOANYSE

American Century Securitized Credit ETF

ASECCNasdaq

Overlap

No data

Expense ratio

ACLO −0.09pt a year

ACLO0.20%ASEC0.29%

Avg volume · 30D

ACLO 15.7×the volume

ACLO36.8KASEC2.34K

ACLO vs ASEC Performance

Jul 31, 2026 – Oct 30, 2026

+1.1%ACLO−0.2%ASEC

Expense ratio: ACLO 0.20%, better; ASEC 0.29%
Fund size: ACLO $596M; ASEC $20M
1Y total return: ACLO +5.0%; ASEC No data
Yield (12M): ACLO 4.89%; ASEC No data
Holdings: ACLO 368; ASEC 109
Avg volume (30D): ACLO 36.8K sh, better; ASEC 2.34K sh
NAV per share: ACLO $50.53; ASEC $49.45
52W range

ETF.net Grade

Pillar letters and Scores for ACLO, ASEC, with each pillar’s weight
Pillar	ACLO	ASEC
Cost30% weight	A80Higher	C45
Mission25% weight	Not scored	Not scored
Risk15% weight	B64Higher	C51
Tradability15% weight	A70Higher	C41
Holdings10% weight	A84Higher	A80
Durability5% weight	B64Higher	D34

Rank among Collateralized Loan Obligations (CLO) funds

How we build Categories ›

Same Category. ACLO and ASEC 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 ASEC 18th 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 16CPCLOVirtus Seix AAA Private Credit CLO ETFScore 50
Rank 18CASECAmerican Century Securitized Credit ETFScore 49
Rank 19CJAJanus Henderson AA-A CLO ETFScore 48

Our read on each fund

ETF.net Research

ACLOATCW AAA CLO ETF

ASECCAmerican Century Securitized Credit ETF

In short

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.

ASEC Most of its peer group buys one thing: AAA CLOs. ASEC casts wider, actively picking investment-grade securitized debt tied to aircraft leases, cell towers and consumer loans, at a fee sitting right at the category median.

Stated mandate

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

ASEC The fund is actively managed to seek high current income and total return through high-quality, lower-duration U.S. securitized debt, including underrepresented asset-backed securities and other securitized subsectors.

Why people hold it

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.

ASEC Reaches past the CLO aisle into esoteric asset-backed paper: aircraft leases, equipment leases, consumer loans, cell towers, digital infrastructure.americancentury.com
The mandate is written down: at least 80% of net assets in securitized credit, with a focus on investment-grade U.S. issues and lower duration.yahoo.com americancentury.com
At 0.29%, the fee lands exactly at the median for its securitized-credit peers, and income is paid quarterly across roughly 100 holdings.
Human judgment, not an index: American Century's team picks the collateral, which is the point in a corner of the bond market where deals differ a lot.americancentury.com

Worth knowing

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.

ASEC Cheaper AAA CLO options exist (PAAA at 0.19%, JAAA and CLOA at 0.20%). You pay up here for a broader, actively chosen securitized mix.
Launched in 2026, so the track record is short, and an active fund has no index to measure it against.
It is a small, thinly traded fund, where bid/ask spreads tend to run wider than in the category's giants.

Full ACLO profile⁠

Full ASEC profile⁠

ACLO vs ASEC Holdings

How ACLO and ASEC differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile6.8%
Asset classFixed Income100%

Sector

No Sector split for ACLO and ASEC.

Country, concentration and asset class

Country by domicile

Country weights in ACLO and ASEC, widest gap first
Country	More in ACLOMore in ASEC	ACLO	ASEC
United States	ASEC +93.2 points	5.8%	99.0%
Cayman Islands	ACLO +85.5 points	86.5%	1.0%
United Kingdom	ACLO +3.9 points	3.9%	0.0%
Ireland	ACLO +3.8 points	3.8%	0.0%
Bermuda	ACLO +0.1 points	0.1%	0.0%

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

Concentration

Weight in the 10 largest Holdings

ACLO9.4%
ASEC13.6%

Securities held

ACLO365
ASEC108

Asset class

ACLO: Fixed Income
ASEC: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. ACLO holds 365 securities, ASEC 108.

All 363 ACLO holdings⁠All 111 ASEC 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.

ACLO vs ASEC Cost

Overpaying ASEC vs ACLO

$1,797

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

ACLO 0.20%
$4,155
ASEC 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

ACLO 0.20%
ASEC 0.29%
Overpaying

Year by year

Year	ACLO	ASEC	Overpaying
10	$365	$527	$162
20	$1,421	$2,044	$623
30	$4,155	$5,952	$1,797

Expense ratio

0.20%ACLO, cheaper
0.29%ASEC

ACLO0.20%ASEC0.29%

0.18%0.68%

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

ACLO 8th cheapest of 34 funds

ASEC 18th cheapest of 34 funds

ACLO vs ASEC Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ACLO 4.89%; ASEC No data
Payout (12M): ACLO $2.47; ASEC No data
Last payment: ACLO $0.19; ASEC $0.23
Ex-dividend: ACLO Oct 1, 2026; ASEC Oct 6, 2026
Paid on: ACLO Oct 5, 2026; ASEC Oct 8, 2026
Frequency: ACLO Monthly; ASEC Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

ACLOMonthly · 24 paymentsAll ACLO payments⁠

ASECMonthly · 4 paymentsAll ASEC payments⁠

ACLO vs ASEC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: ACLO 0.6%since Dec 2024ASEC No data
Return per unit of riskSharpe ratio, 3 years: ACLO 1.74since Dec 2024ASEC No data
Worst fallMax drawdown, 5 years: ACLO −1.0%since Nov 2024ASEC No data
Market sensitivityBeta, 5 years: ACLO 0.04ASEC −0.12; Market = 1

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