ETF Evaluator:
Eldridge BBB-B CLO ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Securitized Bond - Focused Over the Last Year
| 6.0% | iShares BBB-B CLO Active ETF (BCLO) |
| 5.6% | Nuveen AA-BBB CLO ETF (NCLO) |
| 5.4% | Reckoner Yield Enhanced AAA CLO ETF (RAAA) |
| 5.4% | Eldridge BBB-B CLO ETF (CLOZ) |
| 5.3% | BondBloxx Private Credit CLO ETF (PCMM) |
Risk
Index
Risk
Index
ETF Details
Eldridge BBB-B CLO ETF Overview
Eldridge BBB-B CLO ETF (CLOZ) is an actively managed Taxable Bond Securitized Bond - Focused exchange-traded fund (ETF). Eldridge Capital Management launched the ETF in 2023.
The investment seeks to generate current income, with a secondary objective of capital preservation.
The fund is an actively-managed exchange-traded fund (“ETF”) that pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings made for investment purposes) in collateralized loan obligations (“CLOs”) that are rated, at the time of purchase, between BBB+ and B- or an equivalent rating by a NRSRO. It is non-diversified.
About Eldridge BBB-B CLO ETF (CLOZ)
There are 3 members of the management team with an average tenure of 1.75 years: Tony Minella (2024), Tarek Barbar (2024) and Andrew Ward (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
Eldridge BBB-B CLO ETF has 196 securities in its portfolio. The top 10 holdings constitute 10.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Eldridge BBB-B CLO ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Eldridge BBB-B CLO ETF has 40.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 89.9% (49.2% domestic bond, 40.7% foreign bond and 0.0% convertible bond). Eldridge BBB-B CLO ETF has 11.8% of the portfolio in cash.
Assets Under Management
The fund has $794 million in total assets, which is below the $1 billion average for the Securitized Bond - Focused category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CLOZ Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Eldridge BBB-B CLO ETF expense ratio is average compared to funds in the Securitized Bond - Focused category. Eldridge BBB-B CLO ETF has an expense ratio of 0.50%, which is 60% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Eldridge BBB-B CLO ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 51% for the Securitized Bond - Focused category.
Recently, in the month of July 2026, Eldridge BBB-B CLO ETF returned 0.5%, which earned it a grade of A, as the Securitized Bond - Focused category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Eldridge BBB-B CLO ETF has a trailing yield of 7.35%, which is above the 5.32% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Eldridge BBB-B CLO ETF Grades
Year to date, the ETF has returned 2.3%, 0.2 percentage points worse than the category, which translates into a grade of D. The fund has returned 5.4% over the past year (grade of A) and 9.0% over the past three years (grade of A).
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CLOZ Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CLOZ Return (NAV) | 0.5% | 1.6% | 5.4% | 9.0% | na | na |
| CLOZ Return (Price) | 0.5% | 1.6% | 5.8% | 9.2% | na | na |
| NAV +/- Price Return | 0.048% | -0.018% | -0.467% | -0.179% | na | na |
| Securitized Bond - Focused Avg | 0.3% | 1.2% | 4.9% | 6.6% | 3.4% | 1.9% |
| CLOZ Grade (NAV) | A | A | A | A | na | na |
| +/- Category (NAV) | 0.2% | 0.4% | 0.4% | 2.4% | na | na |
| CLOZ Tax-Cost Ratio | na | na | 2.9% | 3.3% | na | na |
CLOZ Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CLOZ Return (NAV) | 2.3% | 6.7% | 11.5% | na | na | na | na | na | na | na | na |
| CLOZ Return (Price) | 3.3% | 6.0% | 11.8% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.397% | -0.105% | 0.031% | na | na | na | na | na | na | na | na |
| Securitized Bond - Focused Avg | 2.5% | 5.9% | 7.6% | 9.0% | -3.7% | 0.3% | 5.8% | 7.5% | 0.6% | 3.1% | 3.0% |
| CLOZ Grade (NAV) | D | A | A | na | na | na | na | na | na | na | na |
| +/- Category | -0.2% | 0.8% | 3.9% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.04 |
| R-Squared: | 1% |
| Standard Deviation: | 2.8% |
| Category Risk Index: | 2.05 |
| Category Risk Rating: | High |
| Total Risk Index: | 0.23 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 7.4% |
| Total Assets: | $ 794 Mil |
| Share Class Assets: | $ 794 Mil |
| Turnover: | na |
| Expense Ratio: | 0.50% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.8 years | |||
| Average Tenure: 1.8 years | |||
| Managers (Year): Minella Tony (2024), Barbar Tarek (2024), Ward Andrew (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 196 |
| % in Top 10 Holdings: | 10.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 40.7% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 49.2% |
| Foreign Bond: | 40.7% |
| Convertible Bond: | 0.0% |
| Other: | -1.7% |
| Cash: | 11.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Eldridge Capital Management |
| Phone Number: | 800-617-0004 |
| Website: | |
| Inception Date: | January 23, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.50% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.31% |
