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% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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