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Outflows from Janus Henderson’s JAAA, by far the largest CLO ETF with over $25bn in AUM, have continued into this week, according to data from etf.com.

After last week saw $476m of outflows, the first two days of this week have seen another $101m exit the fund. Of course, this is dwarfed by the number of inflows JAAA has seen YTD, which still stands at $8.8bn.

JAAA doesn’t appear to have rotated out of many CLO tranches, although a $20m piece of TCW CLO 2020-1 and a $30.9m slice of Carlyle 2021-6 were listed in the ETF’s holdings at the end of last week and no longer appear in the most recent holdings.