PGIM AAA CLO ETF
$51.32+0.02 (+0.04%)
- 0.19%
- $15.1B
- +4.8%
- 5.06%
- 2.44M sh
- low $51.16high $51.54
The ETF.net PAAA Grade
A
Score 82 out of 100
- 3 of 34
Score 82 of 100 falls in the A 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.A79 out of 100Rank 2 of 33Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A96 out of 100Rank 2 of 34Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A75 out of 100Rank 11 of 34Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A87 out of 100Rank 4 of 34
Our read on PAAA
In short
APGIM's entry in the AAA CLO race: an actively run book of the senior-most slice of collateralized loan obligations, floating-rate, priced at 0.19%, paid out monthly. Same playbook as the category's biggest names, a hair cheaper.
Stated mandate
The Fund seeks to maximize total return through current income and capital appreciation. It invests primarily in U.S. dollar-denominated AAA-rated CLOs and is actively managed rather than designed to replicate a specific index.
Why people hold it
Worth knowing
PAAA Holdings
- Bonds
- 325
- 14%
- (PIPA070) PGIM Core Government Money Market Fund
Geography
- Cayman Islands85.97%
- United States9.00%
- United Kingdom4.12%
- Bermuda0.90%
Developed 5% · Emerging 95%
PAAA 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.Not enough history yet.
PAAA$10,484
Returns run to the Oct 30, 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 | PAAA |
|---|---|
| Year to date | +4.0% |
| 1 month | +0.4% |
| 3 months | +1.2% |
| 1 year | +4.8% |
| 3 years | +6.2% |
| 5 years | |
| 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 | PAAA |
|---|---|---|
| 2026 YTD | +4.0% | |
| 2025 | +5.4% | |
| 2024 | +7.5% | |
| 2023 | +3.8% |
PAAA in the news
PAAA Dividends
- 5.06%
- $2.60
- $0.21 per share
- Monthly
PAAA Risk
- 0.7%
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.
- 2.82
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.
- −1.0%
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.
- 0.03
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.
PAAA 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.
PAAA 0.19%
$3,952
CLOC 0.18% Cheapest
$3,749
Cost over time
Year by year
| Year | PAAA | 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)
- ACLOAiShares AAA CLO Active ETFExpense ratio 0.20%1 year return +5.0%
- AJAAAJanus Henderson AAA CLO ETFExpense ratio 0.20%1 year return +4.8%
- AACLOTCW AAA CLO ETFExpense ratio 0.20%1 year return +5.0%
- AFAAAFIDELITY AAA CLO ETFExpense ratio 0.20%1 year return
- AICLOInvesco AAA CLO Floating Rate Note ETFExpense ratio 0.19%1 year return +4.7%
