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ACLO vs BCLO

TCW AAA CLO ETF

ACLOANYSE

iShares BBB-B CLO Active ETF

BCLODNasdaq

Overlap

No data

Expense ratio

ACLO −0.25pt a year

ACLO0.20%BCLO0.45%

Avg volume · 30D

ACLO 2.1×the volume

ACLO37.5KBCLO18K

ACLO vs BCLO Performance

Nov 7, 2025 – Nov 9, 2026

+5.1%ACLO+5.5%BCLO

Nov 7, 2025 to Nov 9, 2026. ACLO +5.1%. BCLO +5.5%. Use the arrow keys to read each point.0%1%2%3%4%Nov 2025May 2026Nov 2026
Expense ratio
ACLO 0.20%, better
BCLO 0.45%
Fund size
ACLO $596M
BCLO $113M
1Y total return
ACLO +5.1%
BCLO +5.5%, better
Yield (12M)
ACLO 4.86%
BCLO 6.32%, better
Holdings
ACLO 367
BCLO 72
Avg volume (30D)
ACLO 37.5K sh, better
BCLO 18K sh
NAV per share
ACLO $50.39
BCLO $49.23
52W range

ETF.net Grade

ACLO: Cost 80, Risk 73, Mission not scored, Tradability 68, Holdings 85, Durability 65. BCLO: Cost 24, Risk 36, Mission not scored, Tradability 27, Holdings 55, Durability 67.
Pillar letters and Scores for ACLO, BCLO, with each pillar’s weight
PillarACLOBCLO
Cost30% weightA80HigherF24
Mission25% weightNot scoredNot scored
Risk15% weightA73HigherD36
Tradability15% weightB68HigherD27
Holdings10% weightA85HigherB55
Durability5% weightB65B67Higher

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. ACLO and BCLO 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 BCLO 29th of 34 funds in the Collateralized Loan Obligations (CLO) Category.

  1. Rank 1ACLOAiShares AAA CLO Active ETFScore 84
  2. Rank 2AJAAAJanus Henderson AAA CLO ETFScore 83
  3. Rank 3APAAAPGIM AAA CLO ETFScore 82
  4. Rank 4AACLOTCW AAA CLO ETFScore 75
  5. Rank 5AFAAAFIDELITY AAA CLO ETFScore 73
  6. Rank 28DDSCODoubleLine Securitized Credit ETFScore 35
  7. Rank 29DBCLOiShares BBB-B CLO Active ETFScore 34
  8. Rank 30DRAARReckoner Yield Enhanced AAA CLO Reinvesting ETFScore 33

Our read on each fund

ETF.net Research

ACLOATCW AAA CLO ETF

BCLODiShares BBB-B CLO Active 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.

BCLO The CLO ETF aisle is stacked with AAA-only funds. BCLO goes the other way: an active book of BBB+ to B- CLO tranches, reaching for current income further down the ratings ladder, with cash paid out monthly.

Stated mandate

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

BCLO The Fund seeks capital preservation and current income by investing principally in collateralized loan obligations rated from BBB+ to B-.

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.
  • BCLO Most CLO ETFs stop at AAA. BCLO's mandate is the BBB+ to B- band, a genuinely different slice of the same corporate loan pools.
  • Actively managed and concentrated in roughly 50 positions, so a manager is picking deals and tranches rather than buying a rating bucket wholesale.
  • Stated goals are capital preservation and current income, and the income arrives monthly.
  • Sits inside the iShares CLO lineup alongside the AAA fund CLOA, so the mezzanine mandate extends an existing platform rather than starting from scratch.

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.
  • BCLO At 0.45% the fee runs well above the AAA CLO crowd, where CLOA, JAAA and PAAA sit near 0.20%. Credit work below AAA costs more to run.
  • The mandate reaches down to B-, below investment grade, so this is a credit position with real default sensitivity, not an AAA cash-parking tool.
  • Launched in 2025 and thinly traded, so the track record is short and bid-ask spreads can be wider than the established AAA CLO funds.

Full ACLO profile⁠

Full BCLO profile⁠

ACLO vs BCLO Holdings

How ACLO and BCLO differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

  • Countryby domicile94.5%
  • Asset classBonds100%

Sector

No Sector split for ACLO and BCLO.

Country, concentration and asset class

Country by domicile

Country weights in ACLO and BCLO, widest gap first
CountryMore in ACLOMore in BCLOGap
Cayman IslandsBCLO +5.2 points
IrelandACLO +3.7 points
United KingdomACLO +1.7 points
Other countries (2)BCLO +0.3 points

Outside the US: ACLO 8% developed, 92% emerging. BCLO 2% developed, 98% emerging.

Concentration

Weight in the 10 largest Holdings

  • ACLO9.1%
  • BCLO29.3%

Securities held

  • ACLO365
  • BCLO71

Asset class

ACLO
Bonds
BCLO
Bonds

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. ACLO holds 365 securities, BCLO 71.

All 363 ACLO holdings⁠All 71 BCLO 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 BCLO Cost

Overpaying BCLO vs ACLO

$4,886

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

  • ACLO 0.20%

    $4,155

  • BCLO 0.45%

    $9,041

$10,000
30 years

Cost over time

  • ACLO 0.20%
  • BCLO 0.45%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530BCLO $9,041ACLO $4,155

Year by year

YearACLOBCLOOverpaying
10$365$812$447
20$1,421$3,128$1,707
30$4,155$9,041$4,886

Expense ratio

  • 0.20%ACLO, cheaper
  • 0.45%BCLO
  • Middle half of Collateralized Loan Obligations (CLO) funds
  • Median 0.28%

ACLO 8th cheapest of 34 funds

BCLO 25th cheapest of 34 funds

ACLO vs BCLO Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
ACLO 4.86%
BCLO 6.32%, better
Payout (12M)
ACLO $2.45
BCLO $3.11
Last payment
ACLO $0.20
BCLO $0.26
Ex-dividend
ACLO Nov 2, 2026
BCLO Nov 2, 2026
Paid on
ACLO Nov 4, 2026
BCLO Nov 5, 2026
Frequency
ACLO Monthly
BCLO Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

ACLOMonthly · 25 paymentsAll ACLO payments⁠
One bar per payment. 25 payments from 2024 to 2026 YTD. Dec 2, 2024 $0.06; Dec 18, 2024 $0.22; Dec 30, 2024 $0.01; Feb 3, 2025 $0.22; Mar 3, 2025 $0.21; Apr 1, 2025 $0.21; May 1, 2025 $0.20; Jun 2, 2025 $0.19; Jul 1, 2025 $0.19; Aug 1, 2025 $0.20; Sep 2, 2025 $0.19; Oct 1, 2025 $0.18; Nov 3, 2025 $0.22; Dec 1, 2025 $0.22; Dec 17, 2025 $0.22; Feb 2, 2026 $0.21; Mar 2, 2026 $0.21; Apr 1, 2026 $0.21; May 1, 2026 $0.21; Jun 1, 2026 $0.21; Jul 1, 2026 $0.19; Aug 3, 2026 $0.19; Sep 1, 2026 $0.19; Oct 1, 2026 $0.19; Nov 2, 2026 $0.20. Use the arrow keys to read each point.$0$0.252026YTD
BCLOMonthly · 21 paymentsAll BCLO payments⁠
One bar per payment. 21 payments from 2024 to 2026 YTD. Mar 3, 2025 $0.32; Apr 1, 2025 $0.31; May 1, 2025 $0.30; Jun 2, 2025 $0.30; Jul 1, 2025 $0.27; Aug 1, 2025 $0.30; Sep 2, 2025 $0.28; Oct 1, 2025 $0.29; Nov 3, 2025 $0.29; Dec 1, 2025 $0.27; Dec 19, 2025 $0.28; Feb 2, 2026 $0.27; Mar 2, 2026 $0.24; Apr 1, 2026 $0.27; May 1, 2026 $0.26; Jun 1, 2026 $0.26; Jul 1, 2026 $0.25; Aug 3, 2026 $0.26; Sep 1, 2026 $0.27; Oct 1, 2026 $0.23; Nov 2, 2026 $0.26. Use the arrow keys to read each point.$0$0.252026YTD

ACLO vs BCLO 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 2024BCLO 2.7%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
ACLO 1.74since Dec 2024BCLO 0.63since Feb 2025
Worst fallMax drawdown, 5 years
ACLO −1.0%since Nov 2024BCLO −4.5%since Jan 2025
Market sensitivityBeta, 5 years
ACLO 0.04BCLO 0.16

Popular comparisons

  • ACLOAvsCLOAA

    TCW AAA CLO ETF · iShares AAA CLO Active ETF

    Expense ratio
    0.20% · 0.20%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • BCLODvsCLOAA

    iShares BBB-B CLO Active ETF · iShares AAA CLO Active ETF

    Expense ratio
    0.45% · 0.20%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ACLOAvsJAAAA

    TCW AAA CLO ETF · Janus Henderson AAA CLO ETF

    Expense ratio
    0.20% · 0.20%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • BCLODvsJAAAA

    iShares BBB-B CLO Active ETF · Janus Henderson AAA CLO ETF

    Expense ratio
    0.45% · 0.20%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ACLOAvsPAAAA

    TCW AAA CLO ETF · PGIM AAA CLO ETF

    Expense ratio
    0.20% · 0.19%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • BCLODvsPAAAA

    iShares BBB-B CLO Active ETF · PGIM AAA CLO ETF

    Expense ratio
    0.45% · 0.19%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.