Collateralized loan obligations (CLOs) are pools of corporate loans from medium and large businesses. Investing in a CLO exchange-traded fund means you get access to several -- in CLOA's case, 355 -- CLOs that you can buy and sell like you would a share of a company's stock.iShares AAA CLO Active ETF (CLOA) provides institutional and retail investors with access to a portfolio of high-quality, AAA-rated CLO securities. The fund leverages BlackRock 's expertise in credit markets to actively select and manage ...