Alternative Access First Priority CLO Bond ETF
AAA
New York Stock Exchange Arca- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 840 Apollo Street, Suite 100 El Segundo CA United States of America 90245
- IPO Date
- Sep 9, 2020
- Website
- aafetfs.com
- Similar Companies
- Business
- Alternative Access First Priority CLO Bond ETF (AAA) is an actively managed exchange-traded fund that seeks capital preservation and income by investing principally in a diversified portfolio of U.S. dollar-denominated, AAA-rated or equivalent first priority debt tranches of collateralized loan obligations (CLOs); these CLOs are supported by cash flows from secured, first lien loans to a broad spectrum of corporate borrowers across various industries. The fund maintains a portfolio of approximately 37 holdings, including top positions such as FCBSL 2025-2A, AMMC 2025-31A, APID 2022-39A, CEDF 2017-8A, and MAGNE 2023-34A, with strict guidelines limiting exposure to 5% per security and 10% per CLO manager; it features a net expense ratio of 0.25%, monthly distributions yielding around 5.34% (30-day SEC yield as of September 2025), and benchmarks performance against the Bloomberg Floating Rate Note <5 Years Index and Bloomberg US Universal Bond Index. AAA provides investors with floating rate coupons that adjust quarterly to short-term interest rates, offering potential protection in rising rate environments, liquidity via NYSE Arca trading, and diversification benefits from underlying broadly syndicated loans. Launched on September 9, 2020, and domiciled in the United States with headquarters operations linked to Alternative Access Funds, LLC in El Segundo, California, the fund operates within the investment-grade fixed income segment targeting institutional and retail credit investors seeking higher yields with low default risk. Previously known as AXS First Priority CLO Bond ETF prior to March 26, 2024, it reflects a rebranding under Alternative Access Funds management, with Peter Coppa as lead portfolio manager since inception; the fund is part of Investment Managers Series Trust II, distributed by ALPS Distributors, Inc., and custodied by Brown Brothers Harriman & Co. Recent monthly distributions include $0.09598 per share in November 2025 and a pending payment in December 2025, alongside stable assets under management of approximately $42.5 million as of mid-December 2025.