TCW AAA CLO ETF
ACLO
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- TCW AAA CLO ETF (ACLO) is an actively managed exchange-traded fund that seeks to generate current income and preserve capital by investing primarily in AAA-rated, USD-denominated collateralized loan obligations (CLOs) of any maturity; it employs a highly selective, bottom-up investment process focusing on CLO managers and issues to generate alpha across market cycles. The ETF holds a diversified portfolio of approximately 200 securities, predominantly asset-backed securities (over 90%), with allocations to non-agency residential mortgage-backed securities, corporate bonds, and cash equivalents; top holdings include CLO tranches from issuers such as Rockford Tower 25-1 Ltd., Octagon Investment Partners, and Madison Park Funding. Launched on November 15, 2024, and domiciled in the United States, ACLO trades on the New York Stock Exchange and is advised by TCW Investment Management Company LLC, a subsidiary of TCW Group, Inc., which is headquartered in Los Angeles, California. In recent developments, TCW Group, the parent organization, closed its third $400 million CLO in 2024, part of heightened capital markets activity including three new CLO issues, two resets, and two refinancings, while more than doubling alternative credit assets under management since 2020 to support over 13 CLOs. TCW's fixed income ETF platform, which includes ACLO alongside funds like TCW Corporate Bond ETF (IGCB) and TCW High Yield Bond ETF (HYBX), surpassed $1 billion in assets under management as of March 2025, reflecting robust growth following TCW's October 2023 acquisition of Engine No. 1's ETF business. These expansions underscore TCW's strategic emphasis on alternative credit and securitized products, with Jefferies LLC acting as placement and structuring agent for recent CLO transactions.