What this ETF is trying to do

The ELDRIDGE AAA CLO ETF (CLOX) is an exchange-traded fund that focuses on a specific type of investment called AAA CLOs. Generally, these types of funds aim to provide investors with regular income through distributions.

What the numbers show

As of October 9, 2026, the share price of CLOX was $25.52. To understand how the fund has performed, we look at two different types of returns: price return (which only tracks the share price) and total return (which includes the distributions paid out).

• Year-to-Date (YTD): The price return is approximately 0.04%, while the total return is approximately 3.65%.

• One Year: The price return was -0.04%, but the total return was approximately 4.86%.

• Three Year: The price return was approximately 0.91%, and the total return was approximately 19.41%.

An estimated price from roughly one year ago was $25.53. If you had invested $10,000 based on that estimated price, the price-only return of -0.04% would mean your principal was worth approximately $9,996 before counting any cash distributions.

Income and distribution explanation

This ETF usually pays out distributions monthly. Over the last 12 months, it made 12 payments totaling approximately $1.22 per share. This results in a distribution yield of approximately 4.79%.

It is important for beginners to remember that a high distribution yield alone can be misleading. A yield tells you how much cash is being paid out relative to the price, but it does not guarantee that the overall investment is growing or that your original principal is safe.

NAV erosion explanation

"NAV erosion" happens when the net asset value (the actual value of the fund's holdings) declines over time. Investors who want steady income care about principal stability because they don't want their initial investment to shrink while they collect checks.

For CLOX, the erosion-risk score is 94, which is labeled as "Stable / sideways" with "good" severity. Additionally, the severe erosion-risk flag is false, meaning the fund's price trend and score did not trigger a severe warning.

Pros

• Consistent Payouts: The fund has a history of monthly distributions.

• Stability: The erosion-risk measurements suggest the fund is currently stable.

• Positive Total Returns: While the share price has stayed mostly flat over the last year, the total returns (including distributions) have been positive.

Cons

• Flat Price Growth: The price return over the last year was slightly negative, meaning the share price itself did not increase.

• No Holdings Data: There are currently no top holdings listed in the supplied data.

Beginner takeaway

CLOX is a fund that provides regular monthly income. While the share price has remained very steady (sideways), the total return is higher because of the cash distributions paid to investors.