ASEC vs CLOC

ASECCAmerican Century Securitized Credit ETF

CLOCBAAM Crescent CLO ETF

In short

ASEC Most of its peer group buys one thing: AAA CLOs. ASEC casts wider, actively picking investment-grade securitized debt tied to aircraft leases, cell towers and consumer loans, at a fee sitting right at the category median.

CLOC A 2025 arrival in the CLO aisle that undercuts the category on fee: 0.18% a year, below the typical CLO fund and below the giants it competes with. Its mandate leads with capital preservation, then low correlation and current income.

Stated mandate

ASEC The fund is actively managed to seek high current income and total return through high-quality, lower-duration U.S. securitized debt, including underrepresented asset-backed securities and other securitized subsectors.

CLOC The Fund seeks capital preservation, low correlation with traditional asset classes, and current income.

Why people hold it

• ASEC Reaches past the CLO aisle into esoteric asset-backed paper: aircraft leases, equipment leases, consumer loans, cell towers, digital infrastructure.americancentury.com
• The mandate is written down: at least 80% of net assets in securitized credit, with a focus on investment-grade U.S. issues and lower duration.yahoo.comamericancentury.com
• At 0.29%, the fee lands exactly at the median for its securitized-credit peers, and income is paid quarterly across roughly 100 holdings.
• Human judgment, not an index: American Century's team picks the collateral, which is the point in a corner of the bond market where deals differ a lot.americancentury.com

• CLOC Cheapest seat in the CLO aisle: 0.18% a year against a 0.25% category median, and a step under the biggest AAA CLO funds (JAAA, CLOA, PAAA, FAAA, ACLO at 0.19%-0.20%).
• The mandate is unusually explicit: capital preservation first, low correlation with traditional asset classes second, current income third.
• Young, but it already stands in the upper half of a crowded 27-fund CLO group.

Worth knowing

• ASEC Cheaper AAA CLO options exist (PAAA at 0.19%, JAAA and CLOA at 0.20%). You pay up here for a broader, actively chosen securitized mix.
• Launched in 2026, so the track record is short, and an active fund has no index to measure it against.
• It is a small, thinly traded fund, where bid/ask spreads tend to run wider than in the category's giants.

• CLOC Thinly traded next to the multi-billion-dollar CLO names, so spreads can be wider and larger orders take patience.
• Launched in October 2025, so the history is short and there is not yet a full credit cycle to judge it by.
• Distributions have come on an irregular schedule rather than a fixed monthly rhythm, so income timing is less predictable.

Full ASEC profile⁠

Full CLOC profile⁠