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ACLO vs NCLO

TCW AAA CLO ETF

ACLOANYSE

Nuveen AA-BBB CLO ETF

NCLOCNYSE Arca

Overlap

No data

Expense ratio

ACLO −0.06pt a year

ACLO0.20%NCLO0.26%

Avg volume · 30D

NCLO 2.2×the volume

ACLO36.8KNCLO80K

ACLO vs NCLO Performance

Oct 31, 2025 – Nov 2, 2026

+5.2%ACLO+5.3%NCLO

Oct 31, 2025 to Nov 2, 2026. ACLO +5.2%. NCLO +5.3%. Use the arrow keys to read each point.−1%0%1%2%3%Oct 2025May 2026Nov 2026
Expense ratio
ACLO 0.20%, better
NCLO 0.26%
Fund size
ACLO $595M
NCLO $244M
1Y total return
ACLO +5.2%
NCLO +5.3%, better
Yield (12M)
ACLO 5.30%
NCLO 6.06%, better
Holdings
ACLO 369
NCLO 145
Avg volume (30D)
ACLO 36.8K sh
NCLO 80K sh, better
NAV per share
ACLO $50.35
NCLO $25.02
52W range

ETF.net Grade

ACLO: Cost 80, Risk 68, Mission not scored, Tradability 70, Holdings 85, Durability 64. NCLO: Cost 53, Risk 16, Mission not scored, Tradability 62, Holdings 75, Durability 60.
Pillar letters and Scores for ACLO, NCLO, with each pillar’s weight
PillarACLONCLO
Cost30% weightA80HigherC53
Mission25% weightNot scoredNot scored
Risk15% weightB68HigherF16
Tradability15% weightA70HigherB62
Holdings10% weightA85HigherA75
Durability5% weightB64HigherB60

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 NCLO 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 NCLO 16th of 34 funds in the Collateralized Loan Obligations (CLO) Category.

  1. Rank 1ACLOAiShares AAA CLO Active ETFScore 85
  2. Rank 2AJAAAJanus Henderson AAA CLO ETFScore 82
  3. Rank 2APAAAPGIM AAA CLO ETFScore 82
  4. Rank 4AACLOTCW AAA CLO ETFScore 75
  5. Rank 5AFAAAFIDELITY AAA CLO ETFScore 72
  6. Rank 14CPSQAPalmer Square CLO Senior Debt ETFScore 51
  7. Rank 16CNCLONuveen AA-BBB CLO ETFScore 50
  8. Rank 17CASECAmerican Century Securitized Credit ETFScore 49

Our read on each fund

ETF.net Research

ACLOATCW AAA CLO ETF

NCLOCNuveen AA-BBB 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.

NCLO No data

Stated mandate

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

NCLO No data

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.

NCLO No data

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.

NCLO No data

Full ACLO profile⁠

Full NCLO profile⁠

ACLO vs NCLO 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 NCLO Cost

Overpaying NCLO vs ACLO

$1,203

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

  • ACLO 0.20%

    $4,155

  • NCLO 0.26%

    $5,358

$10,000
30 years

Cost over time

  • ACLO 0.20%
  • NCLO 0.26%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530NCLO $5,358ACLO $4,155

Year by year

YearACLONCLOOverpaying
10$365$473$108
20$1,421$1,838$417
30$4,155$5,358$1,203

Expense ratio

  • 0.20%ACLO, cheaper
  • 0.26%NCLO
  • Middle half of Collateralized Loan Obligations (CLO) funds
  • Median 0.28%

ACLO 8th cheapest of 34 funds

NCLO 17th cheapest of 34 funds

ACLO vs NCLO Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
ACLO 5.30%
NCLO 6.06%, better
Payout (12M)
ACLO $2.67
NCLO $1.51
Last payment
ACLO $0.20
NCLO $0.10
Ex-dividend
ACLO Nov 2, 2026
NCLO Nov 2, 2026
Paid on
ACLO Pays Nov 4, 2026
NCLO Pays Nov 3, 2026
Frequency
ACLO Monthly
NCLO 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
NCLOMonthly · 23 paymentsAll NCLO payments⁠
One bar per payment. 23 payments from 2024 to 2026 YTD. Dec 18, 2024 $0.09; Feb 3, 2025 $0.12; Mar 3, 2025 $0.12; Apr 1, 2025 $0.13; May 1, 2025 $0.12; Jun 2, 2025 $0.14; Jul 1, 2025 $0.12; Aug 1, 2025 $0.13; Sep 2, 2025 $0.16; Oct 1, 2025 $0.10; Nov 3, 2025 $0.12; Dec 1, 2025 $0.12; Dec 18, 2025 $0.15; Feb 2, 2026 $0.10; Mar 2, 2026 $0.10; Apr 1, 2026 $0.11; May 1, 2026 $0.12; Jun 1, 2026 $0.11; Jul 1, 2026 $0.12; Aug 3, 2026 $0.12; Sep 1, 2026 $0.11; Oct 1, 2026 $0.12; Nov 2, 2026 $0.10. Use the arrow keys to read each point.$0$0.252026YTD

ACLO vs NCLO 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 2024NCLO 0.9%since Jan 2025
Return per unit of riskSharpe ratio, 3 years
ACLO 1.74since Dec 2024NCLO 1.77since Jan 2025
Worst fallMax drawdown, 5 years
ACLO −1.0%since Nov 2024NCLO −3.1%since Dec 2024
Market sensitivityBeta, 5 years
ACLO 0.04NCLO 0.06

ACLO and NCLO in the news

All news⁠

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