What Is the CLOX ETF? Returns, Expense Ratio, Holdings, and Alternative ETFs Explained
The Eldridge AAA CLO ETF (CLOX) is an actively managed bond ETF focused on top-rated AAA CLOs, with a floating-rate, monthly-income strategy. Differences in fees and assets under management versus peer AAA CLO ETFs such as JAAA and PAAA are the key selection criteria.
SubscribeWhat Is the Eldridge AAA CLO ETF?
This is an actively managed bond ETF that invests most of its net assets in AAA-rated CLOs (collateralized loan obligations). Its floating-rate structure seeks income linked to short-term interest rates, with capital preservation as a secondary objective.
It suits investors who want stable income from high-quality floating-rate bonds while keeping their exposure to interest rate volatility low.
It is an ETF actively managed by Eldridge.
How Does the Eldridge AAA CLO ETF Invest?
| Item | Details |
|---|---|
| Tracking index | Actively managed (does not track a benchmark) |
| Management style | Active (CLO selection) |
| Rebalancing frequency | Ongoing management discretion |
| Dividend frequency | Monthly |
| Total expense ratio | 0.20% |
Under normal conditions, the fund invests most of its net assets in CLOs rated AAA at the time of purchase. The management team selects credits and structures directly in an active approach, seeking income linked to the short-term interest rate environment through the floating-rate feature while also considering capital preservation.
- Concentration in top-rated AAA CLOs
- Floating-rate structure keeps interest rate duration exposure relatively low
Eldridge AAA CLO ETF Size and Costs (AUM and Expense Ratio)
Assets under management (AUM) stand at $351.7M, and the total expense ratio is 0.20% per year.
Its assets are relatively small compared with JAAA and PAAA in the same AAA CLO category, but its management philosophy and fee level offer points of comparison.
Eldridge AAA CLO ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeAs a high-quality floating-rate bond fund, its income stream tracks short-term interest rate levels, and its price volatility tends to be lower than that of traditional long-term bonds. Performance may vary depending on the credit spread environment.
Demand for floating-rate income has grown in a high-rate environment, and investor interest has continued across the AAA CLO category. The credit cycle and spread movements are the main drivers of fund flows.
Eldridge AAA CLO ETF Pros and Cons
Its strengths are its concentration in high-credit-quality AAA CLOs and its floating-rate structure. Its weaknesses are the small size of the category and the credit and structural risks that remain.
💪 Key Strengths
⚠️ Points to Watch
Alternative ETFs and Related Products to the Eldridge AAA CLO ETF
JAAA, PAAA, CLOA, and CLOI shown in the table are direct comparisons in the same AAA CLO category. They differ in issuer and fee level, and JAAA and PAAA have relatively large assets. FSEC is a broad securitized bond fund not limited to CLOs, so its exposure range differs. As an additional alternative, investors who want broad short-term bond exposure can also consider an ultra-short Treasury ETF such as BIL.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 JAAA | Janus Henderson AAA CLO ETF | $50.50 | +0.0% | $32.3B | 0.20% | 5.26% | -0.1% |
 PAAA | PGIM AAA CLO ETF | $51.33 | +0.0% | $15.1B | 0.19% | 5.06% | +0.1% |
 FSEC | Fidelity Investment Grade Securitized ETF | $42.63 | -0.2% | $4.6B | 0.36% | 4.57% | -3.8% |
 CLOA | iShares AAA CLO Active ETF | $51.83 | +0.1% | $2.8B | 0.20% | 4.74% | +0.2% |
 CLOI | VanEck CLO ETF | $52.77 | -0.0% | $1.8B | 0.36% | 4.61% | -0.1% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 TSLX | Sixth Street Specialty Lending Inc | 0.08% | $17.90 | -1.5% | $1.7B | 19.0 | 9.66% |
 PSBD | Palmer Square Capital BDC Inc | 0.06% | $9.90 | -1.7% | $303.4M | - | 15.22% |
 BCSS | Bain Capital GSS Investment Corp | 0.05% | $10.22 | +0.1% | $596.9M | 48.6 | - |
Eldridge AAA CLO ETF Investor Checkpoints
Here are the points to review before investing in CLOX. Even for AAA CLOs, credit structure, liquidity, and interest rate linkage should be checked in advance, and assets and fee levels should also be compared with peer ETFs.
| Checkpoint | What to check | Current status |
|---|---|---|
| 💵 Expense ratio | Check the impact of cumulative costs over a long holding period | Lower than the category average |
| 💧 Fund size | Check size relative to large peer ETFs | Small to mid-sized category |
| 📊 Credit structure | Check AAA CLO structure and tranche risk | Active selection applied |
| 💱 Rate linkage | Impact on the floating-rate income stream | Linked to the interest rate environment |
Even for AAA CLOs, structural and liquidity risks specific to CLOs and credit spread movements are the main drivers of short-term performance. Floating-rate income may decline when rates fall, and price swings may widen if the credit cycle deteriorates.
This is an actively managed bond ETF suited to investors seeking high-quality floating-rate income. Investors who prioritize assets and liquidity can consider large peer ETFs such as JAAA and PAAA, while those who prioritize active selection and fee level can consider CLOX.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 11, 2026.
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