CLOC vs TRPA: Grades, Fees and Holdings Compared

AAM Crescent CLO ETF

CLOCBNYSE Arca

Hartford AAA CLO ETF

TRPABCboe

Overlap

No data

Expense ratio

CLOC −0.06pt a year

CLOC0.18%TRPA0.24%

Avg volume · 30D

TRPA 7.4×the volume

CLOC4.83KTRPA35.5K

CLOC vs TRPA Performance

Oct 31, 2025 – Oct 30, 2026

+5.5%CLOC+5.1%TRPA

Expense ratio: CLOC 0.18%, better; TRPA 0.24%
Fund size: CLOC $61M; TRPA $171M
1Y total return: CLOC +5.5%, better; TRPA +5.1%
Yield (12M): CLOC No data; TRPA 4.79%
Holdings: CLOC 63; TRPA 191
Avg volume (30D): CLOC 4.83K sh; TRPA 35.5K sh, better
NAV per share: CLOC $24.81; TRPA $38.88
52W range

ETF.net Grade

Pillar letters and Scores for CLOC, TRPA, with each pillar’s weight
Pillar	CLOC	TRPA
Cost30% weight	A100Higher	B58
Mission25% weight	Not scored	Not scored
Risk15% weight	A71Higher	C48
Tradability15% weight	F12	C49Higher
Holdings10% weight	C49	A79Higher
Durability5% weight	C46	B66Higher

Rank among Collateralized Loan Obligations (CLO) funds

How we build Categories ›

Same Category. CLOC and TRPA 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 ›

CLOC ranks 9th and TRPA 11th of 34 funds in the Collateralized Loan Obligations (CLO) Category.

Rank 8BCLOXEldridge AAA CLO ETFScore 68
Rank 9BCLOCAAM Crescent CLO ETFScore 66
Rank 10BFUSIAmerican Century Ultrashort Income ETFScore 64
Rank 11BCLOONYLI Investment Grade CLO ETFScore 57
Rank 11BTRPAHartford AAA CLO ETFScore 57
Rank 13CUUPPPrincipal CLO ETFScore 53

Our read on each fund

ETF.net Research

CLOCBAAM Crescent CLO ETF

TRPABHartford AAA CLO ETF

In short

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.

TRPA Floating-rate AAA CLO paper, actively picked instead of indexed: capital preservation plus monthly income from the senior slice of the loan-securitization stack. The quieter, smaller name in an aisle that filled up fast.

Stated mandate

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

TRPA The Fund seeks capital preservation and current income by investing primarily in high-quality, floating-rate collateralized loan obligations. It is actively managed and does not seek to track a specified index.

Why people hold it

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.

TRPA The mandate is plain English: capital preservation and current income from high-quality floating-rate CLOs, with a manager choosing the paper rather than a rulebook.
Coupons float, resetting with short-term rates instead of locking in for years, which keeps interest-rate sensitivity low by design.
Pays monthly, and the 0.24% fee sits right around the middle of the AAA CLO group.
Lands in the upper half of its AAA CLO peer group, with the portfolio itself the sturdiest part of the profile.

Worth knowing

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.

TRPA That 0.24% is a shade above the category's biggest names: JAAA, CLOA, FAAA and ACLO charge 0.20%, PAAA 0.19%.
It trades thinly next to the category's giants, so wider spreads and limit orders come with the territory.
AAA is the senior slice of a CLO, not a government guarantee. The collateral underneath is leveraged corporate loans.

Full CLOC profile⁠

Full TRPA profile⁠

CLOC vs TRPA Holdings

How CLOC and TRPA differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile84.2%
Asset classFixed Income100%

Sector

No Sector split for CLOC and TRPA.

Country, concentration and asset class

Country by domicile

Country weights in CLOC and TRPA, widest gap first
Country	More in CLOCMore in TRPA	CLOC	TRPA
Cayman Islands	TRPA +15.8 points	72.5%	88.3%
United States	CLOC +15.7 points	24.2%	8.5%
United Kingdom	CLOC +0.1 points	3.3%	3.2%

Outside the US: CLOC 4% developed, 96% emerging. TRPA 4% developed, 96% emerging.

Concentration

Weight in the 10 largest Holdings

CLOC24.7%
TRPA12.8%

Securities held

CLOC62
TRPA190

Asset class

CLOC: Fixed Income
TRPA: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. CLOC holds 62 securities, TRPA 190.

All 63 CLOC holdings⁠All 173 TRPA 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.

CLOC vs TRPA Cost

Overpaying TRPA vs CLOC

$1,210

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

CLOC 0.18%
$3,749
TRPA 0.24%
$4,959

Amount$10,000

Years30 years

Cost over time

CLOC 0.18%
TRPA 0.24%
Overpaying

Year by year

Year	CLOC	TRPA	Overpaying
10	$328	$437	$109
20	$1,281	$1,699	$418
30	$3,749	$4,959	$1,210

Expense ratio

0.18%CLOC, cheaper
0.24%TRPA

CLOC0.18%TRPA0.24%

0.18%0.68%

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

CLOC cheapest of 34 funds

TRPA 15th cheapest of 34 funds

CLOC vs TRPA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CLOC No data; TRPA 4.79%
Payout (12M): CLOC No data; TRPA $1.86
Last payment: CLOC $0.13; TRPA $0.15
Ex-dividend: CLOC Oct 30, 2026; TRPA Oct 29, 2026
Paid on: CLOC Pays Nov 3, 2026; TRPA Pays Nov 2, 2026
Frequency: CLOC Monthly; TRPA Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

CLOCMonthly · 12 paymentsAll CLOC payments⁠

TRPAMonthly · 46 paymentsAll TRPA payments⁠

CLOC vs TRPA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CLOC 1.3%since Nov 2025TRPA 1.2%
Return per unit of riskSharpe ratio, 3 years: CLOC 1.22since Nov 2025TRPA 1.67
Worst fallMax drawdown, 5 years: CLOC −0.5%since Oct 2025TRPA −6.7%
Market sensitivityBeta, 5 years: CLOC 0.07TRPA 0.09; Market = 1

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