Alternative Access First Priority CLO Bond ETF
$24.86+0.10 (+0.42%)
- 0.19%
- $72M
- +4.2%
- 4.60%
- 20.7K sh
- low $24.67high $25.18
The ETF.net AAA Grade
C
Score 51 out of 100
- 14 of 34
Score 51 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A80 out of 100Rank 2 of 34Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D35 out of 100Rank 22 of 33Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F18 out of 100Rank 33 of 34Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D39 out of 100Rank 28 of 34Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B55 out of 100Rank 15 of 34
Our read on AAA
In short
CLaunched in 2020, this small independent fund holds roughly 30 first-priority CLO bonds and pays monthly, with capital preservation and income as its stated goal. At 0.19% it undercuts most of the big-name CLO ETFs that now crowd the category.
Stated mandate
The Fund seeks capital preservation and income.
Why people hold it
Worth knowing
AAA Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
AAA$10,416
Returns run to the Nov 2, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | AAA |
|---|---|
| Year to date | +3.3% |
| 1 month | +0.1% |
| 3 months | +0.9% |
| 1 year | +4.2% |
| 3 years | +5.6% |
| 5 years | +4.8% |
| 10 years |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | AAA |
|---|---|---|
| 2026 YTD | +3.3% | |
| 2025 | +4.9% | |
| 2024 | +6.9% | |
| 2023 | +8.9% | |
| 2022 | +0.1% | |
| 2021 | +0.9% | |
| 2020 | +0.3% |
AAA in the news
AAA Dividends
- 4.60%
- $1.14
- $0.10 per share
- Monthly
AAA Risk
- 1.0%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.93
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −2.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.01
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
AAA Cost
Overpaying vs CLOC, cheapest in Collateralized Loan Obligations (CLO)
$203
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
AAA 0.19%
$3,952
CLOC 0.18% Cheapest
$3,749
Cost over time
Year by year
| Year | AAA | CLOC | Overpaying |
|---|---|---|---|
| 10 | $347 | $328 | $19 |
| 20 | $1,351 | $1,281 | $70 |
| 30 | $3,952 | $3,749 | $203 |
Other funds in Collateralized Loan Obligations (CLO)
- BTRPAHartford AAA CLO ETFExpense ratio 0.24%1 year return +5.1%
- CUUPPPrincipal CLO ETFExpense ratio 0.19%1 year return
- CPSQAPalmer Square CLO Senior Debt ETFExpense ratio 0.21%1 year return +5.4%
- CNCLONuveen AA-BBB CLO ETFExpense ratio 0.26%1 year return +5.3%
- CASECAmerican Century Securitized Credit ETFExpense ratio 0.29%1 year return
