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Eldridge AAA CLO ETF ("CLOX" or the "Fund") is an actively managed exchange-traded fund ("ETF") seeking consistent return income and a higher quality portfolio by investing primarily in a diverse portfolio of CLO AAAs.
Is CLOX's expense ratio expensive, average, or a steal for its category?
Pro reveals the verdict on a 5-tier spectrum calibrated against ICI 2025 industry averages, with strategy-aware bands so the comparison is meaningful.
Collateralized loan obligation ETFs have become one of the fastest-growing corners of fixed income by offering floating-rate coupons, historically low default rates, and yields that outpace investment-grade corporates.
Copia Wealth Management increased its position in Eldridge AAA CLO ETF (NYSEARCA:CLOX) by 74.4% in the undefined quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,913 shares of the company's stock after buying an additional 52,434 shares during the quarter. Eldridge AAA CLO
Eldridge AAA CLO ETF offers exposure to AAA-rated CLOs, providing capital preservation and a 5.4% yield for conservative, income-focused investors. CLOX's low risk profile is supported by a history of zero defaults in AAA-rated CLOs, making it attractive during periods of market volatility and uncertainty. While CLOX underperforms traditional equity ETFs like SPY and slightly lags peers JAAA and PAAA, its stable monthly payouts and low fees remain appealing.
Janus Henderson AAA CLO ETF remains my top pick for AAA CLO ETFs due to its larger AUM, longer track record, and better portfolio transparency. Eldridge AAA CLO ETF earns a Hold rating; while it offers some advantages, it lacks the history, size, and data transparency I prefer in a core holding. Both ETFs offer attractive yields, but recent distribution trends are inconsistent and may overstate future income for investors.
Fixed income investors who want to diversify their portfolios in a challenging market environment shouldn't overlook CLOs. Danielle Gilbert, managing director at Eldridge Capital Management, discussed the value of CLOs in investment portfolios with VettaFi's Todd Rosenbluth in the recent Income Investment Strategy Symposium.