ACLO vs EVLN: Grades, Fees and Holdings Compared

TCW AAA CLO ETF

ACLOANYSE

Eaton Vance Floating-Rate ETF

EVLNDNYSE Arca

Overlap

No data

Expense ratio

ACLO −0.40pt a year

ACLO0.20%EVLN0.60%

Avg volume · 30D

EVLN 3.0×the volume

ACLO36.8KEVLN110K

ACLO vs EVLN Performance

Oct 31, 2025 – Oct 30, 2026

+5.0%ACLO+4.0%EVLN

Expense ratio: ACLO 0.20%, better; EVLN 0.60%
Fund size: ACLO $596M; EVLN $1.69B
1Y total return: ACLO +5.0%, better; EVLN +4.0%
Yield (12M): ACLO 4.89%; EVLN 7.32%, better
Holdings: ACLO 368; EVLN 474
Avg volume (30D): ACLO 36.8K sh; EVLN 110K sh, better
NAV per share: ACLO $50.53; EVLN $48.10
52W range

ETF.net Grade

Pillar letters and Scores for ACLO, EVLN, with each pillar’s weight
Pillar	ACLO	EVLN
Cost30% weight	A80Higher	F8
Mission25% weight	Not scored	Not scored
Risk15% weight	B64Higher	D33
Tradability15% weight	A70Higher	B61
Holdings10% weight	A84Higher	B66
Durability5% weight	B64	A80Higher

Rank among Collateralized Loan Obligations (CLO) funds

How we build Categories ›

Same Category. ACLO and EVLN 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 EVLN 27th 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 27DDSCODoubleLine Securitized Credit ETFScore 35
Rank 27DEVLNEaton Vance Floating-Rate ETFScore 35
Rank 30DRAARReckoner Yield Enhanced AAA CLO Reinvesting ETFScore 33

Our read on each fund

ETF.net Research

ACLOATCW AAA CLO ETF

EVLNDEaton Vance Floating-Rate 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.

EVLN Most funds in this aisle buy AAA-rated CLO tranches. EVLN goes a layer down and picks the underlying corporate loans itself: an actively run floating-rate credit book from Eaton Vance's long-tenured loan desk.

Stated mandate

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

EVLN The Fund seeks a high level of current income.

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.

EVLN Holds at least 80% of assets in floating-rate credit, led by senior secured corporate loans chosen one at a time rather than a passive slice of CLO paper.aaii.com
Coupons reset with short-term rates, so the portfolio carries little interest-rate duration by design. This is an income mandate, not a rate call.
Distributions land monthly, and the fund has grown into the multi-billion-dollar range since its 2024 launch.
The mandate is global, covering loans to domestic and foreign borrowers rather than a US-only book.aaii.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.

EVLN Costs 0.60% a year against a 0.25% peer median, and the AAA CLO funds it sits beside (JAAA, CLOA, PAAA) run near 0.20%. Active loan picking is what the extra buys.
The mandate reaches past senior loans into CLO debt tranches, second lien and mezzanine credit, further down the capital stack than a AAA-only fund.aaii.com
Launched in 2024, so the record inside the ETF wrapper is still short.

Full ACLO profile⁠

Full EVLN profile⁠

ACLO vs EVLN Holdings

How ACLO and EVLN differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile12.3%
Asset classFixed Income100%

Sector

No Sector split for ACLO and EVLN.

Country, concentration and asset class

Country by domicile

Country weights in ACLO and EVLN, widest gap first
Country	More in ACLOMore in EVLN	ACLO	EVLN
Cayman Islands	ACLO +80.4 points	86.5%	6.1%
United States	EVLN +78.8 points	5.8%	84.6%
Ireland	ACLO +3.8 points	3.8%	0.0%
Canada	EVLN +3.5 points	0.0%	3.5%
United Kingdom	ACLO +3.4 points	3.9%	0.5%
Luxembourg	EVLN +2.0 points	0.0%	2.0%
Germany	EVLN +1.1 points	0.0%	1.1%
Netherlands	EVLN +1.1 points	0.0%	1.1%
Other countries (6)	EVLN +1.1 points	0.1%	1.2%

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

Concentration

Weight in the 10 largest Holdings

ACLO9.4%
EVLN19.3%

Securities held

ACLO365
EVLN426

Asset class

ACLO: Fixed Income
EVLN: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. ACLO holds 365 securities, EVLN 426.

All 363 ACLO holdings⁠All 469 EVLN 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 EVLN Cost

Overpaying EVLN vs ACLO

$7,662

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

ACLO 0.20%
$4,155
EVLN 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

ACLO 0.20%
EVLN 0.60%
Overpaying

Year by year

Year	ACLO	EVLN	Overpaying
10	$365	$1,076	$711
20	$1,421	$4,116	$2,695
30	$4,155	$11,817	$7,662

Expense ratio

0.20%ACLO, cheaper
0.60%EVLN

ACLO0.20%EVLN0.60%

0.18%0.68%

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

ACLO 8th cheapest of 34 funds

EVLN 31st cheapest of 34 funds

ACLO vs EVLN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ACLO 4.89%; EVLN 7.32%, better
Payout (12M): ACLO $2.47; EVLN $3.52
Last payment: ACLO $0.19; EVLN $0.28
Ex-dividend: ACLO Oct 1, 2026; EVLN Oct 30, 2026
Paid on: ACLO Oct 5, 2026; EVLN Pays Nov 5, 2026
Frequency: ACLO Monthly; EVLN Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

ACLOMonthly · 24 paymentsAll ACLO payments⁠

EVLNMonthly · 31 paymentsAll EVLN payments⁠

ACLO vs EVLN 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 2024EVLN 2.0%since Mar 2024
Return per unit of riskSharpe ratio, 3 years: ACLO 1.74since Dec 2024EVLN 0.68since Mar 2024
Worst fallMax drawdown, 5 years: ACLO −1.0%since Nov 2024EVLN −2.8%since Feb 2024
Market sensitivityBeta, 5 years: ACLO 0.04EVLN 0.11; Market = 1

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