ACLO vs YCLO: Grades, Fees and Holdings Compared

TCW AAA CLO ETF

ACLOANYSE

Franklin BSP CLO ETF

YCLOCNYSE Arca

Overlap

No data

Expense ratio

ACLO −0.15pt a year

ACLO0.20%YCLO0.35%

Avg volume · 30D

ACLO 11.8×the volume

ACLO37.5KYCLO3.18K

ACLO vs YCLO Performance

Aug 7, 2026 – Nov 9, 2026

+1.2%ACLO+0.8%YCLO

Expense ratio: ACLO 0.20%, better; YCLO 0.35%
Fund size: ACLO $596M; YCLO $49M
1Y total return: ACLO +5.1%; YCLO No data
Yield (12M): ACLO 4.86%; YCLO No data
Holdings: ACLO 367; YCLO 44
Avg volume (30D): ACLO 37.5K sh, better; YCLO 3.18K sh
NAV per share: ACLO $50.39; YCLO $25.13
52W range

ETF.net Grade

Pillar letters and Scores for ACLO, YCLO, with each pillar’s weight
Pillar	ACLO	YCLO
Cost30% weight	A80Higher	D38
Mission25% weight	Not scored	Not scored
Risk15% weight	A73Higher	B64
Tradability15% weight	B68Higher	D27
Holdings10% weight	A85Higher	C45
Durability5% weight	B65Higher	C45

Rank among Collateralized Loan Obligations (CLO) funds

How we build Categories ›

Same Category. ACLO and YCLO 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 YCLO 23rd of 34 funds in the Collateralized Loan Obligations (CLO) Category.

Rank 1ACLOAiShares AAA CLO Active ETFScore 84
Rank 2AJAAAJanus Henderson AAA CLO ETFScore 83
Rank 3APAAAPGIM AAA CLO ETFScore 82
Rank 4AACLOTCW AAA CLO ETFScore 75
Rank 5AFAAAFIDELITY AAA CLO ETFScore 73
Rank 22CFCLOFidelity CLO ETFScore 43
Rank 23CYCLOFranklin BSP CLO ETFScore 42
Rank 24CJBBBJanus Henderson B-BBB CLO ETFScore 40

Our read on each fund

ETF.net Research

ACLOATCW AAA CLO ETF

YCLOCFranklin BSP 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.

YCLO Most CLO ETFs park in AAA. YCLO roams the whole investment-grade CLO stack, US and European deals alike, run by Franklin's Benefit Street Partners credit desk with capital preservation as the stated first job.

Stated mandate

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

YCLO The Fund seeks capital preservation and 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.

YCLO Active mandate across investment-grade CLO tranches in both US and European deals, hunting relative value instead of sitting only at the top of the stack.businesswire.com franklintempleton.com
Stated job is capital preservation and current income, and CLO tranches pay floating-rate coupons, so the income stream resets with short-term rates.businesswire.com
The desk is not new to this: BSP is Franklin's alternative credit arm and its structured credit platform dates to 2009.businesswire.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.

YCLO Costs 0.35% a year, above the CLO ETF median and above the big AAA-only names like JAAA, CLOA and PAAA. That is the price of the wider mandate.
Reaching below AAA adds credit and downgrade risk; ratings on CLO tranches can be cut, and pricing can gap in stressed markets.businesswire.com
Launched in 2026, thinly traded, and a concentrated book of a few dozen tranches, so wider spreads come with the territory. Income arrives quarterly.

Full ACLO profile⁠

Full YCLO profile⁠

ACLO vs YCLO Holdings

How ACLO and YCLO differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile88.5%
Asset classBonds100%

Sector

No Sector split for ACLO.

Country, concentration and asset class

Country by domicile

Country weights in ACLO and YCLO, widest gap first
Country	Gap	ACLO	YCLO
Ireland	YCLO +11.5 points	3.7%	15.2%
Cayman Islands	ACLO +8.7 points	86.4%	77.7%
United Kingdom	ACLO +1.8 points	4.0%	2.2%
United States	ACLO +0.9 points	5.8%	4.9%
Bermuda	ACLO +0.1 points	0.1%	0.0%

Outside the US: ACLO 8% developed, 92% emerging. YCLO 18% developed, 82% emerging.

Concentration

Weight in the 10 largest Holdings

ACLO9.1%
YCLO49.0%

Securities held

ACLO365
YCLO42

Asset class

ACLO: Bonds
YCLO: Bonds

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. ACLO holds 365 securities, YCLO 42.

All 363 ACLO holdings⁠All 35 YCLO 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 YCLO Cost

Overpaying YCLO vs ACLO

$2,971

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

ACLO 0.20%
$4,155
YCLO 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

ACLO 0.20%
YCLO 0.35%
Overpaying

Year by year

Year	ACLO	YCLO	Overpaying
10	$365	$634	$269
20	$1,421	$2,454	$1,033
30	$4,155	$7,126	$2,971

Expense ratio

0.20%ACLO, cheaper
0.35%YCLO

ACLO0.20%YCLO0.35%

0.18%0.68%

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

ACLO 8th cheapest of 34 funds

YCLO 21st cheapest of 34 funds

ACLO vs YCLO Dividends

Last 12 months to Nov 9, 2026

Yield (12M): ACLO 4.86%; YCLO No data
Payout (12M): ACLO $2.45; YCLO No data
Last payment: ACLO $0.20; YCLO $0.11
Ex-dividend: ACLO Nov 2, 2026; YCLO Nov 2, 2026
Paid on: ACLO Nov 4, 2026; YCLO Nov 5, 2026
Frequency: ACLO Monthly; YCLO Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

ACLOMonthly · 25 paymentsAll ACLO payments⁠

YCLOMonthly · 5 paymentsAll YCLO payments⁠

ACLO vs YCLO 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 2024YCLO No data
Return per unit of riskSharpe ratio, 3 years: ACLO 1.74since Dec 2024YCLO No data
Worst fallMax drawdown, 5 years: ACLO −1.0%since Nov 2024YCLO No data
Market sensitivityBeta, 5 years: ACLO 0.04YCLO −0.05; Market = 1

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