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AAAP

GradeCNASDAQ

Pacer Barings CLO Market Flex ETF

Specialty Bonds · Pacer · Inception 2026-06-21

$25.48+0.03 (+0.10%)

As of Sep 23, 2026, 2:00 PM EDT

History starts Jun 23, 2026.History starts Jun 23, 2026.History starts Jun 23, 2026.
Intraday session: up, 22 prints from 25.46 to 25.48. Range 25.43 to 25.48. Use the arrow keys to read each point.$25.44$25.4610 AM12 PM2 PM4 PM
Expense ratio
0.39%
Fund size
$105M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
97
Volume · 30D
0M sh
NAV per share
$25.37
52W range
low $25.05high $25.50

The ETF.net AAAP Grade

C

49/ 100

Rank 17 of 34 in Collateralized Loan Obligations (CLO)⁠

Confidence Medium

Six-pillar profile for AAAP. Scores out of 100: Cost 35, Risk 78, Mission not scored, Tradability 53, Holdings 48, Durability 42. Strongest: Risk (78). Weakest: Cost (35). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 49 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.
    DScore 35
    Category rank22/34 · mid-pack

  • 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.
    AScore 78
    Category rank1/33 · top 3%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 53
    Category rank14/34 · top 41%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 48
    Category rank23/34 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 42
    Category rank25/34 · mid-pack

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

AAAP Holdings

As of Sep 16, 2026, 3:19 PM
Asset class
Bonds
Holdings
97
Top-10 weight
22%
Largest holding
Bryant Park Funding 2023-21 Ltd 4.9992% 10/18/20382.9%
The fund’s holdings, weight-ordered — page 1 of 7.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Bryant Park Funding 2023-21 Ltd 4.9992% 10/18/20382.91%3,000,000$3M1
002—Anchorage Capital CLO 31 Ltd 5.0292% 10/20/20382.91%3,000,000$3M2
003—KKR CLO 45a Ltd 5.5029% 07/15/20382.35%2,414,226$2M1
004—Sixth Street CLO 32 Ltd 5.3135% 04/21/20391.94%2,000,000$2M1
005—CIFC Funding 2024-II Ltd 5.2217% 04/22/20371.94%2,000,000$2M1
006—HPS Loan Management 2025-26 Ltd 5.0492% 07/20/20381.94%2,000,000$2M1
007—Apidos CLO XXXV 5.0902% 07/20/20391.94%2,000,000$2M1
008—KKR CLO 46 Ltd 5.5292% 10/20/20371.94%2,000,000$2M2
009—Canyon Clo 2025-2 Ltd 5.0829% 10/15/20371.94%2,000,000$2M1
010—Katayma CLO II Ltd 5.5792% 04/20/20371.94%2,000,000$2M1
011—U.S. Bank Money Market Deposit Account 06/01/20311.79%1,846,633$2M100
012—Benefit Street Partners CLO XII-B Ltd 9.205% 10/15/20391.71%1,750,000$2M2
013—KKR CLO 44 Ltd 5.4292% 01/20/20391.70%1,750,000$2M2
014—Elmwood CLO 26 Ltd 9.9092% 04/18/20391.47%1,500,000$2M3
015—Eldridge CLO 2025-1 Ltd 5.0592% 10/20/20381.46%1,510,000$2M1

Showing 1–15 of 95 holdings

AAAP Performance

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

AAAP$10,060
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,125
Aug 21, 2026 to Sep 22, 2026. AAAP $10,060. SPY $10,125. Use the arrow keys to read each point.$9,825$9,987$10,149Aug 21Sep 4Sep 22

Aug 21, 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 AAAP. Periods over one year show the average yearly return.
PeriodAAAP
Year to dateFund launched this year—
1 month+0.6%
3 monthsHistory unavailable—
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 AAAP
YearReturn barAAAP
2026 YTD+2.0%

History from Jun 23, 2026

AAAP in the news

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

AAAP 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
$0.10 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. 2 payments in 2026 YTD. Jul 31, 2026 $0.06; Aug 31, 2026 $0.10. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Aug 31, 2026Sep 1, 2026$0.10
Jul 31, 2026Aug 3, 2026$0.06

AAAP 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.

AAAP Cost

Expense ratio0.39%
  • The middle half of Collateralized Loan Obligations (CLO) funds
  • Median 0.29%

21 of the 34 Collateralized Loan Obligations (CLO) funds charge less.

AAAP costs $39.00 a year on $10,000. The median Collateralized Loan Obligations (CLO) fund costs $29.00.