CLOC Fees and Costs — AAM Crescent CLO ETF
Data updated: 2026-09-29
The net expense ratio is 0.18% (0.49% before fee waivers). There are no sales loads or redemption fees. Portfolio turnover was 32%.
CLOC Fees and Expenses
Annual operating expenses and sales charges of CLOC. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.49% |
| Fee waiver | −0.31% |
| Net expense ratio | 0.18% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
CLOC Costs Over Time
On $10,000 invested in CLOC, assuming 5% a year before costs, total costs come to $114 over 5 years, cutting the return by 0.19% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.18%) | $19 | $59 | $104 |
| Lost growth on money paid in costs | $0 | $3 | $10 |
| Total costs | $19 | $62 | $114 |
| Value after costs | $10,481 | $11,514 | $12,648 |
| Impact on return, per year | 0.19% | 0.19% | 0.19% |
CLOC Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $25.6M
- Portfolio turnover (prospectus): 32%
- Securities lending: none during the year
CLOC Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $10.1M | 39.38% |
| SCOTIA CAPITAL (USA) INC. | $5.4M | 21.02% |
| BOFAML SECURITIES, INC. | $3.0M | 11.79% |
| SG AMERICAS SECURITIES, LLC | $3.0M | 11.79% |
| PERSHING LLC | $1.6M | 6.22% |
| SANTANDER INVESTMENT SECURITIES INC. | $1.5M | 5.88% |
| CITIGROUP GLOBAL MARKETS INC. | $1.0M | 3.93% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.