BlackRock AAA CLO ETF
Data updated: 2026-09-25
C000239899 — BlackRock AAA CLO ETF. Long Securitized (MBS/ABS/CMBS) Bond · $2.21B AUM · 0.20% expense ratio. Holdings, fees, performance and SEC filings.
C000239899 Fund Overview
BlackRock AAA CLO ETF is a US ETF managed by BlackRock ETF Trust II, categorised as Long Securitized (MBS/ABS/CMBS) Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: BlackRock ETF Trust II
- Category: Long Securitized (MBS/ABS/CMBS) Bond
- Assets under management: $2.21B
- 1-year return: 5.8%
- SEC CIK: 0001804196
- SEC series ID: S000079064
- Share class ID: C000239899
C000239899 Investment Objective and Strategy
BlackRock AAA CLO ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by BlackRock ETF Trust II.
Investment objective
The iShares AAA CLO Active ETF (the Fund) seeks to provide capital preservation and current income by investing principally in a portfolio composed of U.S. dollar-denominated AAA-rated collateralized loan obligations (CLOs).
Principal investment strategy
The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its assets in U.S. dollar-denominated CLOs that are, at the time of purchase, rated AAA (or equivalent) by at least one of the major rating agencies or, if unrated, determined by the Fund management team to be of similar quality. The Funds investments in derivatives will be counted toward the Funds 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one or more market risk factors associated with such securities. The Funds 80% investment policy is non-fundamental and may be changed without shareholder approval upon 60 days prior written notice to shareholders. The Fund may invest in CLOs of any maturity. The Fund may purchase CLOs in both the primary market ( i.e.
, directly from arranging banks) and in the secondary market. A CLO is ordinarily issued by a trust or other special purpose entity (SPE) and is typically collateralized by a pool of loans, which may include, among others, domestic and non-U.S. senior secured loans, senior unsecured loans, covenant lite loans (which have few or no financial maintenance covenants) and subordinate corporate loans, including loans that may be rated below investment grade or equivalent unrated loans, and to a lesser extent, high yield bonds rated below investment grade (commonly called junk bonds), held by such issuer. The cash flows from the SPE are split into two or more portions, called tranches, varying in risk and yield. The riskiest portion of a CLO is the equity tranche, which bears the first loss from defaults from the bonds or loans in the SPE and serves to protect the other, more senior tranches from default (though such protection is not complete).
Since it is partially protected from defaults, a senior tranche of a CLO typically has higher ratings and lower yields than its underlying securities, and may be rated AAA. The Fund may invest up to 20% of its assets in U.S. dollar-denominated CLOs that are, at the time of purchase, rated AA or A (or equivalent) by at least one of the major rating agencies or, if unrated, determined by the Fund management team to be of similar quality. The Fund will not invest more than 10% of its net assets in any single CLO. The Fund may invest in floating- and fixed-rate CLOs, but will not invest more than 10% of its net assets in fixed-rate CLOs. The Fund may also buy when-issued securities and participate in delayed delivery transactions. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended (the Investment Company Act).
C000239899 Holdings
Top 10 holdings of BlackRock AAA CLO ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Blackrock Cash Funds Treasury Sl Agency Shares | 1.10% |
| TPG CLO Ltd | 0.91% |
| AB BSL CLO Ltd | 0.91% |
| KKR Financial CLO Ltd | 0.91% |
| Elmwood CLO 28 Ltd | 0.91% |
| ARES CLO Ltd | 0.91% |
| 1988 CLO Ltd. | 0.91% |
| Bain Capital Credit CLO, Limited | 0.90% |
| KKR Financial CLO Ltd | 0.88% |
| New Mountain CLO Ltd | 0.86% |
C000239899 Portfolio Allocation
Asset-class allocation of BlackRock AAA CLO ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Securitized | 99.9% |
| Cash & Equivalents | 1.1% |
C000239899 Performance
Total returns for C000239899 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.5% |
| 1 year | 5.8% |
| 3 years (annualised) | 6.8% |
C000239899 Risk Information
Risk metrics for C000239899, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 0.5%
C000239899 Costs and Fees
C000239899 costs about $20 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.20%
- Gross expense ratio: 0.20%
- Portfolio turnover: 89%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000239899 Cashflows
Over the 12 months to 2026-04, BlackRock AAA CLO ETF had net inflows of $1.27B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $119.11M |
| 2026-03 | $362.72M |
| 2026-02 | $129.67M |
| 2026-01 | $72.71M |
| 2025-12 | −$87.97M |
| 2025-11 | $41.51M |
C000239899 Debt Constituents
No individual debt constituents are reported in BlackRock AAA CLO ETF's latest SEC N-PORT filing.
C000239899 Prospectus and SEC Filings
Official BlackRock AAA CLO ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-11-26
- Prospectus (485BPOS) — filed 2024-11-27
- Prospectus supplement (497) — filed 2024-10-10
- Portfolio holdings (N-PORT) — filed 2026-09-25
- Portfolio holdings (N-PORT) — filed 2026-06-25
- Portfolio holdings (N-PORT) — filed 2026-03-26
- Annual census (N-CEN) — filed 2025-10-14
- Annual census (N-CEN) — filed 2024-10-15
Related Funds
Other Long Securitized (MBS/ABS/CMBS) Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.