Overview
AAA-rated slices of collateralized loan obligations — floating-rate, top-of-the-capital-stack credit that has never defaulted as a class.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| CLO | AAA CLO tranches (managed) | ~97% |
| CASH | Cash & equivalents | ~3% |
Fund Details
Investment Thesis
AAA CLOs are the strange beast institutional investors kept to themselves: floating-rate paper yielding near 5% whose top tranche has survived every crisis since the 1990s without a single default — structural protection doing the work credit analysis usually does. CLOA brought it to retail at 0.20%, and the category's explosive growth says the secret is out. Complexity, not credit, is the real risk to understand.
Who It's For
Yield-seeking cash-adjacent investors ready to learn how tranching works — near-Treasury safety records with corporate-credit yields, floating so rate moves barely register.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | -- | -- |
| 2019 | -- | -- |
| 2020 | -- | -- |
| 2021 | -- | -- |
| 2022 | -- | -- |
| 2023 | $51.00 | -- |
| 2024 | $52.02 | +2.0% |
| 2025 | $52.80 | +1.5% |
| Year | Yield |
|---|---|
| 2016 | -- |
| 2017 | -- |
| 2018 | -- |
| 2019 | -- |
| 2020 | -- |
| 2021 | -- |
| 2022 | -- |
| 2023 | 6.20% |
| 2024 | 6.00% |
| 2025 | 5.20% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | -- | -- |
| 2019 | -- | -- |
| 2020 | -- | -- |
| 2021 | -- | -- |
| 2022 | -- | -- |
| 2023 | $0.1B | -- |
| 2024 | $0.7B | +600.0% |
| 2025 | $1.8B | +157.1% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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