AAA – Alternative AccessFirstPriorityCLO BdETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks capital preservation and income. The fund is an actively-managed exchange-traded fund (“ETF”). Under normal circumstances, it invests at least 80% of its net assets (plus any borrowings for investment purposes) in AAA rated first priority debt tranches of U.S. dollar-dominated collateralized loan obligations (“CLOs”). It may invest in CLOs of any maturity. The fund is actively managed and does not seek to track the performance of any particular index.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
AAA	Alternative Access First Priority CLO Bond ETF	ETF	Open			Sep 8, 2020	$69.88M	0.190%	—	—	$27.46M

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