CLOZ

ELDRIDGE BBB-B CLO ETF

NAV

1-Day Change

-TBD(TBD)

YTD Return

YTD: Year-to-Date

TBD

ITD Return

ITD: Inception-to-Date

TBD

Updated as of: TBD

ETF Details

Yield

as of 2/28/2023

  • SEC 30-Day Yield SEC 30-Day Yield: The fund’s annualized net investment income over the preceding 30 days divided by the maximum offering price as of the calculation date, multiplied by the average number of shares outstanding during the period -
  • Distribution Frequency Monthly

Fund Details

  • Fund Ticker CLOZ
  • Exchange NYSE Arca
  • CUSIP 81752T528
  • Launch Date 1/24/2023
  • Total Net Assets -
  • Gross Expense Ratio 0.50%
  • Net Expense Ratio 0.50%
  • Primary Benchmark JP Morgan CLO
    High Quality
    Mezzanine Index

Pricing Details

  • Previous Close -
  • 30-Day Median Bid/Ask Spread
    (As of TBD) -
  • Premium/Discount -
  • Shares Outstanding -

 

Fund Overview

Eldridge BBB-B CLO ETF ("CLOZ" or the "Fund") is an actively managed exchange-traded fund ("ETF") seeking current income and capital preservation by investing primarily in a diverse portfolio of CLO BBBs and BBs

Fund Attributes

CLOZ can offer investors many key attributes
  • Yield Pickup
    • CLO debt tranches may provide higher current yield versus comparable credit investments
  • Floating-Rate
    • CLOs and their underlying loans are floating-rate assets with low duration risk
  • Historically Low Loss Rates
    • CLO tranches have experienced low default rates cumulatively and through multiple credit cycles
  • Low Correlation
    • CLO BBBs and CLO BBs may offer low correlation to bonds and stocks
  • Diversity
    • The CLOZ portfolio of CLO tranches is backed by loans to multiple issuers across many different industries

ETF Details

Yield

as of 2/28/2023

  • SEC 30-Day Yield SEC 30-Day Yield: The fund’s annualized net investment income over the preceding 30 days divided by the maximum offering price as of the calculation date, multiplied by the average number of shares outstanding during the period -
  • Distribution Frequency Monthly

Fund Details

  • Fund Ticker CLOZ
  • Exchange NYSE Arca
  • CUSIP 81752T528
  • Launch Date 1/24/2023
  • Total Net Assets -
  • Gross Expense Ratio 0.50%
  • Net Expense Ratio 0.50%
  • Primary Benchmark JP Morgan CLO
    High Quality
    Mezzanine Index

Pricing Details

  • Previous Close -
  • 30-Day Median Bid/Ask Spread
    (As of TBD) -
  • Premium/Discount -
  • Shares Outstanding -

Performance

Month-End Returns Quarter-End Returns
Returns (%)

as of - -

1M YTD 1YR Since Inception
CLOZ NAV
CLOZ MKT - - - -
JP Morgan CLO High Quality Mezzanine Index - - - -
QTD YTD 1YR Since Inception
CLOZ NAV
CLOZ MKT - - - -
JP Morgan CLO High Quality Mezzanine Index - - - -

Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Return periods greater than one year are annualized.

Premium / Discount History View

Distribution Overview

Ex-Date Record Date Payable Date Ordinary Income Short-Term Capital Gains Long-Term Capital Gains Total Distribution
12/27/2024 12/27/2024 01/02/2025 $0.17402 $0.01841 $0.01631 $0.20874
12/03/2024 12/03/2024 12/09/2024 $0.17655 $0.00000 $0.00000 $0.17656
11/04/2024 11/04/2024 11/08/2024 $0.22545 $0.00000 $0.00000 $0.22546
10/02/2024 10/02/2024 10/08/2024 $0.19756 $0.00000 $0.00000 $0.19756
09/04/2024 09/04/2024 09/09/2024 $0.21043 $0.00000 $0.00000 $0.21044
08/02/2024 08/02/2024 08/08/2024 $0.19769 $0.00000 $0.00000 $0.19769
07/02/2024 07/02/2024 07/08/2024 $0.18676 $0.00000 $0.00000 $0.18677
06/04/2024 06/04/2024 06/10/2024 $0.19742 $0.00000 $0.00000 $0.19743
05/02/2024 05/03/2024 05/08/2024 $0.20060 $0.00000 $0.00000 $0.20060
04/02/2024 04/03/2024 04/08/2024 $0.21489 $0.00000 $0.00000 $0.21489
03/04/2024 03/05/2024 03/08/2024 $0.21089 $0.00000 $0.00000 $0.21089
02/02/2024 02/05/2024 02/08/2024 $0.22206 $0.00000 $0.00000 $0.22206
12/28/2023 12/29/2023 01/02/2024 $0.13037 $0.00000 $0.00000 $0.13037
12/15/2023 12/18/2023 12/21/2023 $0.23669 $0.00000 $0.00000 $0.23669
11/10/2023 11/13/2023 11/16/2023 $0.18884 $0.00000 $0.00000 $0.18885
10/13/2023 10/16/2023 10/19/2023 $0.15301 $0.00000 $0.00000 $0.15302
09/15/2023 09/18/2023 09/21/2023 $0.26336 $0.00000 $0.00000 $0.26336
08/11/2023 08/14/2023 08/17/2023 $0.19983 $0.00000 $0.00000 $0.19984
07/14/2023 07/17/2023 07/20/2023 $0.25856 $0.00000 $0.00000 $0.25856
06/09/2023 06/12/2023 06/15/2023 $0.21061 $0.00000 $0.00000 $0.21062
05/12/2023 05/15/2023 05/18/2023 $0.21505 $0.00000 $0.00000 $0.21505
04/14/2023 04/17/2023 04/20/2023 $0.25748 $0.00000 $0.00000 $0.25748
03/10/2023 03/13/2023 03/16/2023 $0.16793 $0.00000 $0.00000 $0.16793
02/10/2023 02/13/2023 02/16/2023 $0.04533 $0.00000 $0.00000 $0.04533
View Distribution Schedule

Portfolio

as of TBD

CLOZ Portfolio Top 10 Holdings

Issuer Ticker CUSIP Face Value Market Value Weight %
View Full Holdings

Subject to Change

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Total Returns are calculated using the daily 4:00pm net asset value (NAV). Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times.

Industry concentration and additional portfolio metrics may be available upon request.

Portfolio Management

Tony Minella

CEO

Portfolio Manager

Tarek Barbar

Portfolio Manager

Andrew Ward

Portfolio Manager

Partnership with MMCC

A portion of the Adviser’s management fees are donated to MMCC in furtherance of our efforts to drive real change in local communities. MMCC is a vital resource that provides education and enrichment programs, support, and opportunities to more than 35,000 Bronx and Manhattan residents a year. Please refer to https://www.mmcc.org/ for additional information regarding MMCC.

Documents

Important Risks and Additional Information:

An investor should consider the investment objectives, risks, and charges and expenses of the fund carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. The prospectus can be found here. Please read the prospectus carefully before investing.

The risks of investing in CLO securities include both the credit risk associated with the underlying loans combined with the risks associated with the CLO structure governing the priority of payments (and any legal and counterparty risk associated with carrying out the priority of payments). This Fund intends to invest primarily in BBB- and BB-rated tranches (or equivalent ratings by a NRSRO); however, these ratings do not constitute a guarantee of credit quality and it's possible that under stressed market environments these tranches could experience substantial losses due to actual defaults, write-downs of the equity or other subordinated tranches, increased sensitivity to defaults due to collateral default and impairment of subordinate tranches, market anticipation of defaults, and general market aversion to CLO securities as an asset class.

Subordinated (i.e., mezzanine) CLO tranches are subject to higher credit risk and liquidity risk relative to more senior CLO tranches. The Fund is expected to have significant exposure to below investment grade CLO tranches (up to 70% of its total assets). To the extent a CLO or its underlying loans experience default or are having difficulty making principal and/or interest payments, subordinate CLO tranches will be more likely to experience adverse impacts, and such impacts will be more severe, relative to more senior or higher-rated CLO securities, which in turn will adversely affect the performance of the Fund. Under certain circumstances, no payment of interest or principal can be made to a holder of a mezzanine CLO tranche until the interest or principal payments have been made in full to holders of the senior tranches.

J.P. Morgan CLO High Quality Mezzanine Index is designed to track the performance of broadly-syndicated, arbitrage US CLO debt from high-quality mezzanine tranches in the flagship J.P. Morgan CLO (“CLOIE”) Index, representing 90% BBBs and 10% BB/Bs

Distributor: Quasar Distributors, LLC.

Eldridge