Eldridge BBB-B CLO ETF
CLOZ
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
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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
- 600 Steamboat Road, 2nd Floor Greenwich CT United States of America 6830
- IPO Date
- Jan 24, 2023
- Website
- clozfund.com
- Similar Companies
- Business
- Eldridge BBB-B CLO ETF (CLOZ) is an actively managed exchange-traded fund that seeks current income and capital preservation by investing primarily in a diverse portfolio of USD-denominated collateralized loan obligations (CLOs) rated between BBB+ and B-, or equivalent ratings from nationally recognized statistical rating organizations; the fund targets primarily BBB- and BB-rated CLO tranches, which offer floating-rate exposure to pools of senior secured loans, senior unsecured loans, and subordinate corporate loans, with up to 70% allocation to below-investment-grade high-yield bonds; it maintains a portfolio of approximately 228 holdings focused on broad credit fixed income within the corporate loans segment. CLOZ trades on NYSE Arca and provides monthly distributions, historically delivering yields around 7.57% with low correlation to traditional equities and bonds for portfolio diversification. Launched on January 24, 2023, and headquartered at 767 Fifth Avenue, Floor 17, New York, New York, the ETF is issued by Eldridge (formerly associated with Panagram Structured Asset Management) and managed by a team including Tony Minella, Tarek Barbar, and Andrew Ward. The fund operates globally through its exposure to U.S. dollar-denominated CLOs backed by corporate loans, serving institutional and retail investors seeking income-oriented fixed income alternatives amid rising interest rate environments. Eldridge, the parent asset management and insurance holding company with over $70 billion in assets under management, oversees CLOZ as part of its structured credit platform, with offices in New York, Atlanta, Greenwich, Beverly Hills, London, and other locations. Recent developments include a rebranding from Panagram Structured Asset Management to Eldridge effective January 1, 2025, alongside management team transitions following the departure of prior Panagram officials to launch Reckoner Capital; Eldridge expanded its actively managed CLO ETF suite with the March 2025 launch of the Eldridge AAA CLO UCITS ETF (TAAA) listed on Deutsche Börse Xetra in Europe, targeting non-U.S. investors with AAA-rated CLO bonds at a 0.35% expense ratio; additionally, the firm hired JP Morgan in May 2025 to facilitate re-entry into the U.S. CLO issuance market, enhancing liquidity and funding for its ETF strategies. These initiatives build on CLOZ's growth to over $824 million in assets under management, positioning Eldridge as a leader in democratizing CLO access via ETFs.