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AAAD

GradeCNew York Stock Exchange Arca

PGIM AAA CLO Aggregate Duration ETF

Specialty Bonds · PGIM · Inception 2026-06-01

$48.92+0.00 (+0.00%)

As of Sep 23, 2026, 9:46 AM EDT

Market opens at 9:30 AM ET.History starts Jun 3, 2026.History starts Jun 3, 2026.History starts Jun 3, 2026.
Intraday session: up, 13 prints from 48.72 to 48.92. Range 48.72 to 48.92. Use the arrow keys to read each point.$48.70$48.75$48.80$48.85Sep 17Sep 18Sep 21Sep 22Sep 23
Expense ratio
0.19%
Fund size
$26M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$48.89
52W range
low $48.72high $50.42

The ETF.net AAAD Grade

C

46/ 100

Rank 18 of 34 in Collateralized Loan Obligations (CLO)⁠

Confidence Medium

Six-pillar profile for AAAD. Scores out of 100: Cost 83, Risk 13, Mission not scored, Tradability 25, Holdings 24, Durability 41. Strongest: Cost (83). Weakest: Risk (13). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 46 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 83
    Category rank3/34 · top 9%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 13
    Category rank32/33 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 25
    Category rank26/34 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    FScore 24
    Category rank30/34 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 41
    Category rank26/34 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on AAAD

ETF.net Research

CAlmost every AAA CLO ETF is floating rate with next to no duration. AAAD takes the same senior CLO collateral and layers Treasury futures on top, targeting a duration within a year of the broad US bond index. A core-style bond fund built out of CLOs.

Stated mandate

Seeks to maximize total return through current income and capital appreciation.

Why people hold it

  1. 01The mechanism is the whole idea: AAA-rated CLOs for the credit exposure, Treasury futures and rate swaps for the duration, aiming to stay within a year of the Bloomberg US Aggregate.sec.gov
  2. 02Priced at 0.19%, a hair under the 0.20% charged by the category's best-known AAA CLO funds (JAAA, CLOA, ACLO) and well below the cohort median near 0.29%.
  3. 03Not built from scratch: it can hold AAA CLOs directly or through PGIM's established PAAA fund, leaning on the same securitized credit desk.pgim.com
  4. 04One ticker covers both jobs, senior CLO credit and interest-rate exposure, instead of pairing a floating-rate CLO fund with a separate Treasury sleeve. Income is paid quarterly.sec.gov

Worth knowing

  1. 01Duration cuts both ways. CLOs themselves usually carry under a year of it; the overlay deliberately stretches the portfolio far longer, so prices move with Treasury yields.sec.gov
  2. 02Layered plumbing: PGIM's own disclosure flags that the fund of funds structure carries the underlying funds' risks and that leveraging techniques can magnify losses.pgim.com
  3. 03A 2026 launch with a limited operating history per its own disclosure, and thinner trading than the category's heavyweights, which can widen bid-ask spreads.pgim.com

AAAD Holdings

As of Sep 20, 2026, 6:46 AM
Asset class
Bonds
Holdings
—
Top-10 weight
101%
Largest holding
PAAA96.2%

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001PAAAPGIM AAA CLO ETF96.19%480,000$25M7
002—UNITED STATES TREASURY NOTE/BOND2.26%790,000$580K26
003—CARLYLE US CLO 2021-6 LTD1.95%500,000$501K5
004—Net Current Assets0.70%179,233$179K132
005—US Dollar0.10%25,280$25K394
006—3 MONTH SOFR FUT DEC27<0.01%-1$2K2
007—3 MONTH SOFR FUT MAR28<0.01%-1$2K2
008—3 MONTH SOFR FUT SEP27<0.01%-1$2K2
009—3 MONTH SOFR FUT JUN27<0.01%-1$2K2
010—(PIPA070) PGIM Core Government Money Market Fund<0.01%62$6260

Showing 1–10 of 10 holdings

AAAD Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

AAAD$9,900
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. AAAD $9,900. SPY $10,415. Use the arrow keys to read each point.$9,741$10,122$10,502Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 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.

Trailing total return for AAAD. Periods over one year show the average yearly return.
PeriodAAAD
Year to dateFund launched this year—
1 month−0.9%
3 months−1.0%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for AAAD
YearReturn barAAAD
2026 YTD−0.8%

History from Jun 3, 2026

AAAD in the news

ETF.net Research hasn’t filed on AAAD yet — coverage lands here as it’s written.

AAAD Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.20 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 3 payments in 2026 YTD. Jun 30, 2026 $0.02; Jul 31, 2026 $0.38; Aug 31, 2026 $0.20. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Aug 31, 2026Sep 2, 2026$0.20
Jul 31, 2026Aug 4, 2026$0.38
Jun 30, 2026Jul 2, 2026$0.02

AAAD Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Jun 2026; fills in after 12 months
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.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Jun 2026; fills in after 12 months
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.

The largest fall from a peak to the low that followed.
—
Launched Jun 2026; fills in after 12 months
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.

How strongly the fund’s returns move with its asset-class index.
0.00
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

AAAD Cost

Expense ratio0.19%
  • The middle half of Collateralized Loan Obligations (CLO) funds
  • Median 0.29%

No Collateralized Loan Obligations (CLO) fund charges less.

AAAD costs $19.00 a year on $10,000. The median Collateralized Loan Obligations (CLO) fund costs $29.00.