CLOA vs PCLO: Grades, Fees and Holdings Compared

iShares AAA CLO Active ETF

CLOAANasdaq

Virtus Seix AAA Private Credit CLO ETF

PCLOCNYSE Arca

Overlap

No data

Expense ratio

CLOA −0.09pt a year

CLOA0.20%PCLO0.29%

Avg volume · 30D

CLOA 153.8×the volume

CLOA593KPCLO3.85K

CLOA vs PCLO Performance

Oct 31, 2025 – Oct 30, 2026

+5.0%CLOA+4.9%PCLO

Expense ratio: CLOA 0.20%, better; PCLO 0.29%
Fund size: CLOA $2.8B; PCLO $19M
1Y total return: CLOA +5.0%, better; PCLO +4.9%
Yield (12M): CLOA 4.77%; PCLO 5.00%, better
Holdings: CLOA 458; PCLO 23
Avg volume (30D): CLOA 593K sh, better; PCLO 3.85K sh
NAV per share: CLOA $51.96; PCLO $24.91
52W range

ETF.net Grade

Pillar letters and Scores for CLOA, PCLO, with each pillar’s weight
Pillar	CLOA	PCLO
Cost30% weight	A80Higher	C45
Mission25% weight	Not scored	Not scored
Risk15% weight	B68	A76Higher
Tradability15% weight	A94Higher	C43
Holdings10% weight	A98Higher	C46
Durability5% weight	A91Higher	D29

Rank among Collateralized Loan Obligations (CLO) funds

How we build Categories ›

Same Category. CLOA and PCLO 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 ›

CLOA ranks 1st and PCLO 16th 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 16CNCLONuveen AA-BBB CLO ETFScore 50
Rank 16CPCLOVirtus Seix AAA Private Credit CLO ETFScore 50
Rank 18CASECAmerican Century Securitized Credit ETFScore 49

Our read on each fund

ETF.net Research

CLOAAiShares AAA CLO Active ETF

PCLOCVirtus Seix AAA Private Credit CLO ETF

In short

CLOA BlackRock's play in AAA CLOs: active credit picking measured against J.P. Morgan's CLOIE AAA index, 0.20% a year, spread over roughly 400 positions. A billion-dollar-plus book built since its 2023 launch.

PCLO No data

Stated mandate

CLOA The fund seeks exposure to U.S. dollar-denominated AAA-rated collateralized loan obligations, using active credit selection to pursue income and capital preservation with potentially low volatility.

PCLO No data

Why people hold it

CLOA Charges 0.20% a year, below the 0.25% typical for CLO funds and level with what most of the category's biggest names (JAAA, FAAA, ACLO) charge.
Roughly 400 separate CLO positions, one of the deepest books in its peer group, so no single deal carries the fund.
Actively run: the team selects deals and CLO managers instead of buying whatever a benchmark holds. The CLOIE AAA index is the yardstick, not the rulebook.
Income arrives monthly, and it sits among the easier funds in its cohort to get in and out of.

PCLO No data

Worth knowing

CLOA Active means manager-dependent. There is no index to fall back on, so outcomes hinge on which deals the desk picks.
The mandate pursues income and capital preservation with potentially low volatility. That is the aim, not a floor; CLO prices still move.
Trading since January 2023, so its record is short next to long-running bond funds and covers a narrow slice of credit history.

PCLO No data

Full CLOA profile⁠

Full PCLO profile⁠

CLOA vs PCLO Holdings

How CLOA and PCLO differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile39.8%
Asset classFixed Income100%

Sector

No Sector split for PCLO.

Country, concentration and asset class

Country by domicile

Country weights in CLOA and PCLO, widest gap first
Country	More in CLOAMore in PCLO	CLOA	PCLO
Cayman Islands	CLOA +59.7 points	89.5%	29.8%
United States	PCLO +54.3 points	7.0%	61.3%
United Kingdom	PCLO +5.9 points	3.1%	9.0%
Bermuda	CLOA +0.5 points	0.5%	0.0%

Outside the US: CLOA 3% developed, 97% emerging. PCLO 23% developed, 77% emerging.

Concentration

Weight in the 10 largest Holdings

CLOA9.2%
PCLO54.3%

Securities held

CLOA456
PCLO22

Asset class

CLOA: Fixed Income
PCLO: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. CLOA holds 456 securities, PCLO 22.

All 458 CLOA holdings⁠All 25 PCLO 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.

CLOA vs PCLO Cost

Overpaying PCLO vs CLOA

$1,797

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

CLOA 0.20%
$4,155
PCLO 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

CLOA 0.20%
PCLO 0.29%
Overpaying

Year by year

Year	CLOA	PCLO	Overpaying
10	$365	$527	$162
20	$1,421	$2,044	$623
30	$4,155	$5,952	$1,797

Expense ratio

0.20%CLOA, cheaper
0.29%PCLO

CLOA0.20%PCLO0.29%

0.18%0.68%

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

CLOA 8th cheapest of 34 funds

PCLO 18th cheapest of 34 funds

CLOA vs PCLO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CLOA 4.77%; PCLO 5.00%, better
Payout (12M): CLOA $2.48; PCLO $1.25
Last payment: CLOA $0.20; PCLO $0.10
Ex-dividend: CLOA Oct 1, 2026; PCLO Oct 20, 2026
Paid on: CLOA Oct 6, 2026; PCLO Oct 27, 2026
Frequency: CLOA Monthly; PCLO Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

CLOAMonthly · 44 paymentsAll CLOA payments⁠

PCLOMonthly · 23 paymentsAll PCLO payments⁠

CLOA vs PCLO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CLOA 0.8%PCLO 0.7%since Jan 2025
Return per unit of riskSharpe ratio, 3 years: CLOA 2.24PCLO 1.61since Jan 2025
Worst fallMax drawdown, 5 years: CLOA −1.4%since Jan 2023PCLO −0.8%since Dec 2024
Market sensitivityBeta, 5 years: CLOA 0.01PCLO 0.04; Market = 1

CLOA and PCLO in the news

All news⁠

ETF Filings
First Trust files for FFLT, an investment-grade floating-rate ETF with a 50% CLO floor
Sep 21, 2026CLOA

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Category

CLOA vs PCLO

In short

Stated mandate

Why people hold it

Worth knowing

How CLOA and PCLO differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

First Trust files for FFLT, an investment-grade floating-rate ETF with a 50% CLO floor

How CLOA and PCLO differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings