Columbia AAA CLO ETF (AAAC) Stock Price, Quote, News & History | Benzinga

To achieve its investment objective The Fund is an actively managed exchange-traded fund (ETF). Under normal market conditions, the Fund invests at least 80 percent of its net assets (plus any borrowings made for investment purposes) in collateralized loan obligations (CLOs) of any maturity that are rated AAA (or equivalent by a nationally recognized statistical rating organization (NRSRO)) at the time of purchase, or if unrated, determined to be of comparable credit quality. CLOs, which are a type of structured product, are floating- or fixed-rate debt instruments issued by a trust or other special purpose vehicle and backed by an underlying portfolio consisting of corporate loans. Such loans may include domestic and foreign senior secured loans, senior unsecured loans and subordinate corporate loans, which may individually be rated below investment grade or unrated but determined to be of comparable quality by the Funds Investment Manager.