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Invesco Aaa CLO Floating Rate Note ETF (ICLO) Alternatives

ETF · Currency in USD · Last updated Jun 24, 2026

The ETF is actively managed and focuses on investing in floating rate note securities issued by collateralized loan obligations rated AAA or equivalent, with at least 80% of its net assets allocated to this strategy. It may include CLO securities of any maturity and is considered non-diversified.

Invesco Aaa CLO Floating Rate Note ETF (ICLO) belongs to the CLO category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with ICLO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to ICLO

ICLO charges 0.26% annually. There are 9 ETFs in the CLO category with lower expense ratios, going as low as 0.19%.

SymbolNameExpense RatioAUMInception
PAAA
PGIM AAA CLO ETF0.19%10.61BJul 2023ICLO vs PAAA
JAAA
Janus Henderson AAA CLO ETF0.20%28.22BOct 2020ICLO vs JAAA
CLOA
iShares AAA CLO Active ETF0.20%2.22BJan 2023ICLO vs CLOA
CLOX
Panagram AAA CLO ETF0.20%301.37MJul 2023ICLO vs CLOX
FAAA
Fidelity AAA CLO ETF0.20%45.04MFeb 2026ICLO vs FAAA

Best Risk-Adjusted Alternatives to ICLO

ICLO has a PortfoliosLab risk / return rank of 97. There are 5 ETFs in the CLO category with higher risk-adjusted ranks, going as high as 99.

SymbolNameRisk / Return RankAUMInception
PAAA
PGIM AAA CLO ETF
99
10.61BJul 2023ICLO vs PAAA
CLOA
iShares AAA CLO Active ETF
99
2.22BJan 2023ICLO vs CLOA
ACLO
TCW AAA CLO ETF
99
480.83MNov 2024ICLO vs ACLO
PCLO
Virtus SEIX AAA Private Credit CLO ETF
99
—Dec 2024ICLO vs PCLO
JAAA
Janus Henderson AAA CLO ETF
98
28.22BOct 2020ICLO vs JAAA

Top Performing ICLO Alternatives (YTD)

ICLO is at 2.36% YTD. There are 4 ETFs in the CLO category with higher YTD returns, going as high as 3.08%.

SymbolNameYTD ReturnAUMInception
BCLO
iShares BBB-B CLO Active ETF
3.08%
74.23MJan 2025ICLO vs BCLO
CLOC
AAM Crescent CLO ETF
2.65%
51.28MOct 2025ICLO vs CLOC
RAAA
Reckoner Leveraged AAA CLO ETF
2.63%
27.61MJul 2025ICLO vs RAAA
ACLO
TCW AAA CLO ETF
2.44%
480.83MNov 2024ICLO vs ACLO
CLOX
Panagram AAA CLO ETF
2.33%
301.37MJul 2023ICLO vs CLOX

Lowest Volatility Alternatives to ICLO

ICLO has 1.38% 1-year volatility. There are 12 ETFs in the CLO category with lower 1-year volatility, going as low as 0.47%.

SymbolNameVolatility 1YAUMInception
PAAA
PGIM AAA CLO ETF0.47%10.61BJul 2023ICLO vs PAAA
CLOA
iShares AAA CLO Active ETF0.69%2.22BJan 2023ICLO vs CLOA
ACLO
TCW AAA CLO ETF0.73%480.83MNov 2024ICLO vs ACLO
JAAA
Janus Henderson AAA CLO ETF0.83%28.22BOct 2020ICLO vs JAAA
AAAC
Columbia AAA CLO ETF0.86%9.94MDec 2025ICLO vs AAAC

Lowest Drawdown Alternatives to ICLO

ICLO has a 1-year max drawdown of -0.35%. There are 4 ETFs in the CLO category with shallower 1-year drawdowns, going as shallow as -0.17%.

SymbolNameMax Drawdown 1YAUMInception
PAAA
PGIM AAA CLO ETF
-0.17%
10.61BJul 2023ICLO vs PAAA
CLOA
iShares AAA CLO Active ETF
-0.18%
2.22BJan 2023ICLO vs CLOA
PCLO
Virtus SEIX AAA Private Credit CLO ETF
-0.26%
—Dec 2024ICLO vs PCLO
ACLO
TCW AAA CLO ETF
-0.27%
480.83MNov 2024ICLO vs ACLO
JAAA
Janus Henderson AAA CLO ETF
-0.39%
28.22BOct 2020ICLO vs JAAA

Other ETFs from Invesco

The 10 most viewed Invesco ETFs shown here include QQQ, SPMO, QQQM and span 12 categories. AUM among these funds goes as high as $493B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
QQQ
Invesco QQQ ETFNasdaq-100
59
16.45%
493.17BMar 1999ICLO vs QQQ
SPMO
Invesco S&P 500 Momentum ETFMomentum, S&P 500
68
29.91%
21.99BOct 2015ICLO vs SPMO
QQQM
Invesco NASDAQ 100 ETFNasdaq-100
60
16.48%
101.29BOct 2020ICLO vs QQQM
RSP
Invesco S&P 500 Equal Weight ETFS&P 500, Equal Weight
49
9.94%
92.57BApr 2003ICLO vs RSP
SOXQ
Invesco PHLX Semiconductor ETFSemiconductors, Technology Equities
94
90.62%
3.22BJun 2021ICLO vs SOXQ
XLG
Invesco S&P 500 Top 50 ETFS&P 500
39
1.60%
10.60BMay 2005ICLO vs XLG
SPHQ
Invesco S&P 500 Quality ETFS&P 500, Large Cap Blend Equities
61
16.54%
21.05BDec 2005ICLO vs SPHQ
SPHD
Invesco S&P 500® High Dividend Low Volatility ETFDividend, S&P 500, Large Cap Value Equities
30
8.20%
3.27BOct 2012ICLO vs SPHD
XMMO
Invesco S&P MidCap Momentum ETFMomentum, Mid Cap Growth Equities
66
22.90%
8.18BMar 2005ICLO vs XMMO
PPA
Invesco Aerospace & Defense ETFAerospace & Defense, Industrials Equities
38
9.76%
8.26BOct 2005ICLO vs PPA

Often Compared With ICLO

Investors most often compare ICLO with CLOI, VMFXX, BKLN. These 20 comparison targets span 13 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
CLOI
VanEck CLO ETFCLO
97
2.31%
1.36BJun 2022ICLO vs CLOI
VMFXX
Vanguard Federal Money Market FundMoney Market—
1.50%
0.00Jul 1981ICLO vs VMFXX
BKLN
Invesco Senior Loan ETFBank Loan
44
-0.13%
7.22BMar 2011ICLO vs BKLN
TFLR
T. Rowe Price Floating Rate ETFBank Loan
77
1.27%
625.68MNov 2022ICLO vs TFLR
USFR
WisdomTree Floating Rate Treasury FundGovernment Bonds, Ultrashort Bond
100
1.82%
17.46BFeb 2014ICLO vs USFR
FXAIX
Fidelity 500 Index FundS&P 500
65
9.79%
—Feb 1988ICLO vs FXAIX
TLT
iShares 20+ Year Treasury Bond ETFGovernment Bonds, Long-Term Bond
14
0.77%
41.34BJul 2002ICLO vs TLT
MEDIX
MFS Emerging Markets Debt FundEmerging Markets Bonds
81
2.54%
—Mar 1998ICLO vs MEDIX
NOBL
ProShares S&P 500 Dividend Aristocrats ETFDividend, S&P 500, Large Cap Value Equities
29
6.48%
11.27BOct 2013ICLO vs NOBL
BSCX
Invesco BulletShares 2033 Corporate Bond ETFCorporate Bonds
36
0.19%
1.03BSep 2023ICLO vs BSCX
BSJV
Invesco BulletShares 2031 High Yield Corporate Bon...High Yield Bonds
43
1.19%
91.97MSep 2023ICLO vs BSJV
CLOB
VanEck AA-BB CLO ETFCLO
72
1.95%
176.53MSep 2024ICLO vs CLOB
UCLA.DE
Invesco USD AAA CLO UCITS ETF AccCLO
32
5.19%
—Feb 2025ICLO vs UCLA.DE
ILS
Brookmont Catastrophic Bond ETFNontraditional Bonds
96
2.27%
16.11MMar 2025ICLO vs ILS
AAA
AAF First Priority CLO Bond ETFCLO
84
1.98%
40.01MSep 2020ICLO vs AAA
BSCR
Invesco BulletShares 2027 Corporate Bond ETFCorporate Bonds
97
1.37%
4.60BSep 2017ICLO vs BSCR
VRIG
Invesco Variable Rate Investment Grade ETFUltrashort Bond
99
2.06%
1.52BSep 2016ICLO vs VRIG
BSJT
Invesco BulletShares 2029 High Yield Corporate Bon...High Yield Bonds
55
1.40%
530.98MSep 2021ICLO vs BSJT
BSJQ
Invesco BulletShares 2026 High Yield Corp Bond ETFHigh Yield Bonds
95
1.04%
962.59MAug 2018ICLO vs BSJQ
BSJR
Invesco BulletShares 2027 High Yield Corporate Bon...High Yield Bonds
80
1.49%
847.56MSep 2019ICLO vs BSJR

Compare ICLO with Any Fund or Stock

Compare ICLO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair ICLO with funds that move differently

Invesco Aaa CLO Floating Rate Note ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to ICLO.

Explore ICLO Diversifiers