Summary
CLOX Chart
Eldridge's Gilbert: CLOs “Incredibly Resilient, Often Misunderstood”
Fixed income investors who want to diversify their portfolios in a challenging market environment shouldn't overlook CLOs. Danielle Gilbert, managing director at Eldridge Capital Management, discussed the value of CLOs in investment portfolios with VettaFi's Todd Rosenbluth in the recent Income Investment Strategy Symposium.
Eldridge's Gilbert: CLOs “Incredibly Resilient, Often Misunderstood”
Fixed income investors who want to diversify their portfolios in a challenging market environment shouldn't overlook CLOs. Danielle Gilbert, managing director at Eldridge Capital Management, discussed the value of CLOs in investment portfolios with VettaFi's Todd Rosenbluth in the recent Income Investment Strategy Symposium.
CLOX: AAA CLOs From A Smaller Asset Manager
Panagram AAA CLO ETF is a new, actively managed fund investing solely in AAA CLOs, with $100 million in AUM and a 20 bps expense ratio. Retail investors should be agnostic among AAA CLO ETFs, while institutional investors prefer larger funds for liquidity and block trading capabilities. CLOX's performance aligns with its cohort, but a recession may reveal performance differences due to varying manager strategies and market conditions.
Eldridge AAA CLO ETF Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 1,250 | $31,887.5 | $31,931.25 | $43.75 | 0.14% |
| SMM Stephen Michael Mangold Tectonic Advisors LLC | 8,000 | $204,920 | $204,320 | -$600 | -0.29% |
| RS Russell Silberstein Carmel Capital Partners LLC | 381,723 | $9.76M | $9.75M | -$3,784.55 | -0.04% |
| ECD Elizabeth C. DeWan WMG Financial Advisors LLC | 89,747 | $2.29M | $2.29M | $1,494.4 | 0.07% |
| RLE Raymond L. Eaton Primoris Wealth Advisors LLC | 12,450 | $318,346.5 | $318,168.46 | -$178.04 | -0.06% |
Eldridge AAA CLO ETF (CLOX) FAQ
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Eldridge AAA CLO ETF Profile
| ARCA Exchange | US Country |
Overview
This actively managed exchange-traded fund (ETF) primarily focuses on investment in collateralized loan obligations (CLOs) that are of high credit quality, identified through either an AAA rating from a nationally recognized statistical rating organization (NRSRO) or, in the absence of such a rating, securities that the fund's adviser deems to be of comparable quality. The fund operates with a strategy to invest at least 80% of its net assets, along with any funds borrowed for investment purposes, in such financial instruments. This fund is characterized as non-diversified, meaning it may invest more heavily in individual securities or a smaller number of securities than more diversified funds.
Products and Services
- Collateralized Loan Obligations (CLOs) Investments
The fund specializes in investing a significant portion of its resources into collateralized loan obligations that are rated AAA or an equivalent rating by a recognized rating organization. This approach focuses on maintaining a high credit quality within its investment portfolio. For occasions where such ratings are not available, the fund's adviser exercises its judgment to identify securities that possess a comparable level of credit worthiness. The primary aim is to offer investors exposure to high-quality debt securities through an actively managed ETF structure.
- Non-diversified Fund Strategy
Unlike diversified funds, this ETF employs a non-diversified investment strategy, allowing it to allocate a greater portion of its assets into fewer CLOs or into the securities of fewer issuers. This strategy can potentially lead to higher returns but also increases the risk of exposure to the performance of fewer assets. The non-diversified status of the fund implies a focused investment approach, aiming to capitalize on the performance of select high-quality CLOs.
