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CLOO vs PAAA

NYLI Investment Grade CLO ETF

CLOOBNYSE Arca

PGIM AAA CLO ETF

PAAAANYSE Arca

Overlap

No data

Expense ratio

PAAA −0.06pt a year

CLOO0.25%PAAA0.19%

Avg volume · 30D

PAAA 174.4×the volume

CLOO14KPAAA2.44M

CLOO vs PAAA Performance

Jul 31, 2026 – Oct 30, 2026

+1.0%CLOO+1.2%PAAA

Jul 31, 2026 to Oct 30, 2026. CLOO +1.0%. PAAA +1.2%. Use the arrow keys to read each point.0%0.25%0.5%0.75%Jul 2026Sep 2026Oct 2026
Expense ratio
CLOO 0.25%
PAAA 0.19%, better
Fund size
CLOO $48M
PAAA $15.1B
1Y total return
CLOO No data
PAAA +4.8%
Yield (12M)
CLOO No data
PAAA 5.06%
Holdings
CLOO 128
PAAA 325
Avg volume (30D)
CLOO 14K sh
PAAA 2.44M sh, better
NAV per share
CLOO $25.10
PAAA $51.48
52W range

ETF.net Grade

CLOO: Cost 53, Risk 81, Mission not scored, Tradability 41, Holdings 81, Durability 26. PAAA: Cost 80, Risk 79, Mission not scored, Tradability 96, Holdings 75, Durability 87.
Pillar letters and Scores for CLOO, PAAA, with each pillar’s weight
PillarCLOOPAAA
Cost30% weightC53A80Higher
Mission25% weightNot scoredNot scored
Risk15% weightA81HigherA79
Tradability15% weightC41A96Higher
Holdings10% weightA81HigherA75
Durability5% weightD26A87Higher

Rank among Collateralized Loan Obligations (CLO) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. CLOO and PAAA are both graded against the same 34 Collateralized Loan Obligations (CLO) funds, so their Grades compare head to head.

Collateralized Loan Obligations (CLO)⁠

Category · 34 funds
See all 34 ›

PAAA ranks 3rd and CLOO 11th of 34 funds in the Collateralized Loan Obligations (CLO) Category.

  1. Rank 1ACLOAiShares AAA CLO Active ETFScore 83
  2. Rank 1AJAAAJanus Henderson AAA CLO ETFScore 83
  3. Rank 3APAAAPGIM AAA CLO ETFScore 82
  4. Rank 4AACLOTCW AAA CLO ETFScore 74
  5. Rank 10BFUSIAmerican Century Ultrashort Income ETFScore 64
  6. Rank 11BCLOONYLI Investment Grade CLO ETFScore 57
  7. Rank 11BTRPAHartford AAA CLO ETFScore 57

Our read on each fund

ETF.net Research

CLOOBNYLI Investment Grade CLO ETF

PAAAAPGIM AAA CLO ETF

In short

CLOO Most CLO ETFs park at AAA and stop. CLOO's mandate is the wider investment-grade stack, seeking capital preservation and current income from CLO debt tranches for 0.25% a year.

PAAA PGIM'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

CLOO The Fund seeks capital preservation and current income by investing in investment grade-rated debt tranches of collateralized loan obligations.

PAAA 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

  • CLOO Buys investment grade-rated CLO tranches broadly, not only the AAA slice that the shelf's biggest names (JAAA, CLOA, PAAA, FAAA, ACLO) are built around.
  • 0.25% a year lands right at the median for CLO funds, a few basis points north of the AAA-only crowd.
  • A focused book of roughly 100 CLO positions, and the portfolio behind it is the fund's strongest feature; overall it sits in the upper half of its CLO peer group.
  • PAAA At 0.19%, one of the cheapest tickets into AAA CLOs, undercutting the 0.20% charged by CLOA, JAAA, FAAA and ACLO and sitting well below the category median.
  • Keeps at least 80% of investable assets in US dollar CLOs rated AAA at purchase, the tranche that stands first in line for cash from the underlying loan pool.mutualfunds.compgim.com
  • CLO coupons float, so the income stream resets with short-term rates rather than locking to a fixed coupon. Cash goes out monthly.pgim.com
  • A multi-billion-dollar fund that trades actively, with spread and execution behavior among the strongest in its peer group.

Worth knowing

  • CLOO Launched in 2026, so there is no long record here, and the risk read so far rests on a short window.
  • Reaching below AAA into lower investment-grade tranches means taking credit risk the AAA-only funds leave on the table.
  • Still a small, thinly traded fund, so spreads can run wider than at the category's heavyweights.
  • PAAA Actively managed against the JP Morgan CLOIE AAA Index, not built to match it. Holdings and results can diverge from the benchmark by design.
  • The AAA stamp sits atop a pool of leveraged loans to below-investment-grade borrowers, and up to 20% of investable assets can go outside AAA-rated CLOs.mutualfunds.com
  • Launched in 2023, so the track record is short and does not yet span a full credit cycle.

Full CLOO profile⁠

Full PAAA profile⁠

CLOO vs PAAA Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CLOO vs PAAA Cost

Overpaying CLOO vs PAAA

$1,207

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • CLOO 0.25%

    $5,159

  • PAAA 0.19%

    $3,952

$10,000
30 years

Cost over time

  • CLOO 0.25%
  • PAAA 0.19%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530CLOO $5,159PAAA $3,952

Year by year

YearCLOOPAAAOverpaying
10$455$347$108
20$1,769$1,351$418
30$5,159$3,952$1,207

Expense ratio

  • 0.25%CLOO
  • 0.19%PAAA, cheaper
  • Middle half of Collateralized Loan Obligations (CLO) funds
  • Median 0.28%

PAAA 2nd cheapest of 34 funds

CLOO 16th cheapest of 34 funds

CLOO vs PAAA Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
CLOO No data
PAAA 5.06%
Payout (12M)
CLOO No data
PAAA $2.60
Last payment
CLOO $0.11
PAAA $0.21
Ex-dividend
CLOO Oct 30, 2026
PAAA Oct 30, 2026
Paid on
CLOO Pays Nov 3, 2026
PAAA Pays Nov 3, 2026
Frequency
CLOO Monthly
PAAA Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

CLOOMonthly · 6 paymentsAll CLOO payments⁠
One bar per payment. 6 payments from 2023 to 2026 YTD. May 29, 2026 $0.08; Jun 30, 2026 $0.07; Jul 31, 2026 $0.10; Aug 31, 2026 $0.10; Sep 30, 2026 $0.10; Oct 30, 2026 $0.11. Use the arrow keys to read each point.$0$0.2520232026YTD
PAAAMonthly · 39 paymentsAll PAAA payments⁠
One bar per payment. 39 payments from 2023 to 2026 YTD. Sep 1, 2023 $0.29; Oct 2, 2023 $0.23; Nov 1, 2023 $0.29; Dec 1, 2023 $0.28; Dec 27, 2023 $0.31; Feb 1, 2024 $0.28; Mar 1, 2024 $0.27; Apr 1, 2024 $0.30; May 1, 2024 $0.27; Jun 3, 2024 $0.28; Jul 1, 2024 $0.22; Aug 1, 2024 $0.24; Sep 3, 2024 $0.24; Oct 1, 2024 $0.25; Nov 1, 2024 $0.20; Dec 2, 2024 $0.20; Dec 27, 2024 $0.25; Feb 3, 2025 $0.21; Mar 3, 2025 $0.19; Apr 1, 2025 $0.23; May 1, 2025 $0.22; Jun 2, 2025 $0.23; Jul 1, 2025 $0.22; Aug 1, 2025 $0.22; Sep 2, 2025 $0.23; Oct 1, 2025 $0.22; Nov 3, 2025 $0.22; Dec 1, 2025 $0.21; Dec 19, 2025 $0.21; Feb 2, 2026 $0.19; Mar 2, 2026 $0.19; Mar 31, 2026 $0.20; Apr 30, 2026 $0.19; May 29, 2026 $0.19; Jun 30, 2026 $0.20; Jul 31, 2026 $0.20; Aug 31, 2026 $0.20; Sep 30, 2026 $0.19; Oct 30, 2026 $0.21. Use the arrow keys to read each point.$0$0.2520232026YTD

CLOO vs PAAA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CLOO No dataPAAA 0.7%
Return per unit of riskSharpe ratio, 3 years
CLOO No dataPAAA 2.82
Worst fallMax drawdown, 5 years
CLOO No dataPAAA −1.0%since Jul 2023
Market sensitivityBeta, 5 years
CLOO −0.02PAAA 0.03

CLOO and PAAA in the news

All news⁠

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