By William Sokol, Director of Product Management What Is a Collateralized Loan Obligation (CLO)? A collateralized loan obligation (CLO) is a portfolio of predominantly senior secured loans that is securitized and actively managed. Each CLO issues a series of floating rate bonds, along with a first-loss equity tranche. The tranches differ in terms of subordination and priority—and, [...] The post A Guide to Collateralized Loan Obligations (CLOs) appeared first on ETF Trends .