ACLO vs CLOZ: Grades, Fees and Holdings Compared

TCW AAA CLO ETF

ACLOANYSE

Eldridge BBB-B CLO ETF

CLOZDNYSE Arca

Overlap

No data

Expense ratio

ACLO −0.30pt a year

ACLO0.20%CLOZ0.50%

Avg volume · 30D

CLOZ 12.7×the volume

ACLO36.8KCLOZ467K

ACLO vs CLOZ Performance

Oct 31, 2025 – Nov 2, 2026

+5.2%ACLO+4.1%CLOZ

Expense ratio: ACLO 0.20%, better; CLOZ 0.50%
Fund size: ACLO $595M; CLOZ $712M
1Y total return: ACLO +5.2%, better; CLOZ +4.1%
Yield (12M): ACLO 5.30%; CLOZ 7.14%, better
Holdings: ACLO 369; CLOZ 187
Avg volume (30D): ACLO 36.8K sh; CLOZ 467K sh, better
NAV per share: ACLO $50.35; CLOZ $26.08
52W range

ETF.net Grade

Pillar letters and Scores for ACLO, CLOZ, with each pillar’s weight
Pillar	ACLO	CLOZ
Cost30% weight	A80Higher	F17
Mission25% weight	Not scored	Not scored
Risk15% weight	B68Higher	D29
Tradability15% weight	A70Higher	B56
Holdings10% weight	A85Higher	A77
Durability5% weight	B64	A75Higher

Rank among Collateralized Loan Obligations (CLO) funds

How we build Categories ›

Same Category. ACLO and CLOZ 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 CLOZ 25th of 34 funds in the Collateralized Loan Obligations (CLO) Category.

Rank 1ACLOAiShares AAA CLO Active ETFScore 85
Rank 2AJAAAJanus Henderson AAA CLO ETFScore 82
Rank 2APAAAPGIM AAA CLO ETFScore 82
Rank 4AACLOTCW AAA CLO ETFScore 75
Rank 5AFAAAFIDELITY AAA CLO ETFScore 72
Rank 24CJBBBJanus Henderson B-BBB CLO ETFScore 41
Rank 25DCLOZEldridge BBB-B CLO ETFScore 38
Rank 26DABIVictoryShares Pioneer Asset-Based Inc ETFScore 36

Our read on each fund

ETF.net Research

ACLOATCW AAA CLO ETF

CLOZDEldridge BBB-B CLO 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.

CLOZ Most CLO ETFs park in the AAA slice. CLOZ heads down the stack to the BBB and BB tranches, where coupons are fatter and credit losses land sooner. Actively managed, income first, paid 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.

CLOZ The Fund seeks current income and, secondarily, capital preservation.

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.

CLOZ Mezzanine specialist: 80% of assets go to CLO tranches rated BBB+ to B- per the prospectus, up to 70% below investment grade. JAAA and PAAA stay at the top of the stack.sec.gov
Income is the stated job, not a byproduct: current income first, capital preservation second, and cash goes out monthly.sec.gov
Live since January 2023, run by a structured-credit shop that invests in CLOs and private ABS as both buyer and issuer. Actively managed, no index.eldridge.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.

CLOZ The fee is the toll: 0.50% a year, double the typical CLO ETF and roughly 2.5x what AAA funds like JAAA and PAAA charge.
Further down the waterfall: with up to 70% permitted in below-investment-grade tranches, credit stress shows up in prices here sooner than in AAA CLO funds.sec.gov
No index to check it against, so tranche and CLO-manager selection is the adviser's call.eldridge.com

Full ACLO profile⁠

Full CLOZ profile⁠

ACLO vs CLOZ Holdings

How ACLO and CLOZ differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile93.0%
Asset classFixed Income100%

Sector

No Sector split for ACLO and CLOZ.

Country, concentration and asset class

Country by domicile

Country weights in ACLO and CLOZ, widest gap first
Country	More in ACLOMore in CLOZ	ACLO	CLOZ
Cayman Islands	CLOZ +5.4 points	86.5%	91.9%
Ireland	ACLO +3.8 points	3.8%	0.0%
United Kingdom	ACLO +3.2 points	3.9%	0.7%
United States	CLOZ +1.5 points	5.8%	7.3%
Bermuda	ACLO +0.1 points	0.1%	0.0%

Outside the US: ACLO 8% developed, 92% emerging. CLOZ 1% developed, 99% emerging.

Concentration

Weight in the 10 largest Holdings

ACLO9.9%
CLOZ15.7%

Securities held

ACLO367
CLOZ186

Asset class

ACLO: Fixed Income
CLOZ: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. ACLO holds 367 securities, CLOZ 186.

All 364 ACLO holdings⁠All CLOZ 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 CLOZ Cost

Overpaying CLOZ vs ACLO

$5,824

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

ACLO 0.20%
$4,155
CLOZ 0.50%
$9,979

Amount$10,000

Years30 years

Cost over time

ACLO 0.20%
CLOZ 0.50%
Overpaying

Year by year

Year	ACLO	CLOZ	Overpaying
10	$365	$900	$535
20	$1,421	$3,460	$2,039
30	$4,155	$9,979	$5,824

Expense ratio

0.20%ACLO, cheaper
0.50%CLOZ

ACLO0.20%CLOZ0.50%

0.18%0.68%

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

ACLO 8th cheapest of 34 funds

CLOZ 28th cheapest of 34 funds

ACLO vs CLOZ Dividends

Last 12 months to Nov 2, 2026

Yield (12M): ACLO 5.30%; CLOZ 7.14%, better
Payout (12M): ACLO $2.67; CLOZ $1.85
Last payment: ACLO $0.20; CLOZ $0.15
Ex-dividend: ACLO Nov 2, 2026; CLOZ Oct 2, 2026
Paid on: ACLO Pays Nov 4, 2026; CLOZ Oct 8, 2026
Frequency: ACLO Monthly; CLOZ Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

ACLOMonthly · 25 paymentsAll ACLO payments⁠

CLOZMonthly · 45 paymentsAll CLOZ payments⁠

ACLO vs CLOZ 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 2024CLOZ 3.9%
Return per unit of riskSharpe ratio, 3 years: ACLO 1.74since Dec 2024CLOZ 0.91
Worst fallMax drawdown, 5 years: ACLO −1.0%since Nov 2024CLOZ −5.3%since Jan 2023
Market sensitivityBeta, 5 years: ACLO 0.04CLOZ 0.02; Market = 1

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