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PAAA vs PCMM

PGIM AAA CLO ETF

PAAAANYSE Arca

Bondbloxx Private Credit CLO ETF

PCMMDNasdaq

Overlap

No data

Expense ratio

PAAA −0.49pt a year

PAAA0.19%PCMM0.68%

Avg volume · 30D

PAAA 54.1×the volume

PAAA2.44MPCMM45.2K

PAAA vs PCMM Performance

Oct 31, 2025 – Nov 2, 2026

+4.9%PAAA+5.5%PCMM

Oct 31, 2025 to Nov 2, 2026. PAAA +4.9%. PCMM +5.5%. Use the arrow keys to read each point.0%1%2%3%4%Oct 2025May 2026Nov 2026
Expense ratio
PAAA 0.19%, better
PCMM 0.68%
Fund size
PAAA $15B
PCMM $268M
1Y total return
PAAA +4.9%
PCMM +5.5%, better
Yield (12M)
PAAA 5.06%
PCMM 6.58%, better
Holdings
PAAA 326
PCMM 99
Avg volume (30D)
PAAA 2.44M sh, better
PCMM 45.2K sh
NAV per share
PAAA $51.31
PCMM $49.85
52W range

ETF.net Grade

PAAA: Cost 80, Risk 78, Mission not scored, Tradability 96, Holdings 75, Durability 87. PCMM: Cost 0, Risk 25, Mission not scored, Tradability 41, Holdings 62, Durability 55.
Pillar letters and Scores for PAAA, PCMM, with each pillar’s weight
PillarPAAAPCMM
Cost30% weightA80HigherF0
Mission25% weightNot scoredNot scored
Risk15% weightA78HigherD25
Tradability15% weightA96HigherC41
Holdings10% weightA75HigherB62
Durability5% weightA87HigherB55

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. PAAA and PCMM 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 2nd and PCMM 31st of 34 funds in the Collateralized Loan Obligations (CLO) Category.

  1. Rank 1ACLOAiShares AAA CLO Active ETFScore 85
  2. Rank 2AJAAAJanus Henderson AAA CLO ETFScore 82
  3. Rank 2APAAAPGIM AAA CLO ETFScore 82
  4. Rank 4AACLOTCW AAA CLO ETFScore 75
  5. Rank 30DRAARReckoner Yield Enhanced AAA CLO Reinvesting ETFScore 33
  6. Rank 31DPCMMBondbloxx Private Credit CLO ETFScore 25
  7. Rank 32FRCLYReckoner BBB-B CLO Annual ETFScore 20

Our read on each fund

ETF.net Research

PAAAAPGIM AAA CLO ETF

PCMMDBondbloxx Private Credit CLO ETF

In short

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.

PCMM No data

Stated mandate

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.

PCMM No data

Why people hold it

  • 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.

PCMM No data

Worth knowing

  • 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.

PCMM No data

Full PAAA profile⁠

Full PCMM profile⁠

PAAA vs PCMM 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.

PAAA vs PCMM Cost

Overpaying PCMM vs PAAA

$9,300

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

  • PAAA 0.19%

    $3,952

  • PCMM 0.68%

    $13,252

$10,000
30 years

Cost over time

  • PAAA 0.19%
  • PCMM 0.68%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530PCMM $13,252PAAA $3,952

Year by year

YearPAAAPCMMOverpaying
10$347$1,215$868
20$1,351$4,633$3,282
30$3,952$13,252$9,300

Expense ratio

  • 0.19%PAAA, cheaper
  • 0.68%PCMM
  • Middle half of Collateralized Loan Obligations (CLO) funds
  • Median 0.28%

PAAA 2nd cheapest of 34 funds

PCMM 34th cheapest of 34 funds

PAAA vs PCMM Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
PAAA 5.06%
PCMM 6.58%, better
Payout (12M)
PAAA $2.60
PCMM $3.28
Last payment
PAAA $0.21
PCMM $0.23
Ex-dividend
PAAA Oct 30, 2026
PCMM Nov 2, 2026
Paid on
PAAA Pays Nov 3, 2026
PCMM Pays Nov 5, 2026
Frequency
PAAA Monthly
PCMM Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

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
PCMMMonthly · 22 paymentsAll PCMM payments⁠
One bar per payment. 22 payments from 2023 to 2026 YTD. Feb 3, 2025 $0.37; Mar 3, 2025 $0.29; Apr 1, 2025 $0.25; May 1, 2025 $0.29; Jun 2, 2025 $0.32; Jul 1, 2025 $0.30; Aug 1, 2025 $0.31; Sep 2, 2025 $0.29; Oct 1, 2025 $0.28; Nov 3, 2025 $0.29; Dec 1, 2025 $0.26; Dec 30, 2025 $0.28; Feb 2, 2026 $0.26; Mar 2, 2026 $0.23; Apr 1, 2026 $0.23; May 1, 2026 $0.28; Jun 1, 2026 $0.26; Jul 1, 2026 $0.26; Aug 3, 2026 $0.26; Sep 1, 2026 $0.24; Oct 1, 2026 $0.21; Nov 2, 2026 $0.23. Use the arrow keys to read each point.$0$0.2520232026YTD

PAAA vs PCMM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PAAA 0.7%PCMM 2.2%since Jan 2025
Return per unit of riskSharpe ratio, 3 years
PAAA 2.82PCMM 0.79since Jan 2025
Worst fallMax drawdown, 5 years
PAAA −1.0%since Jul 2023PCMM −4.3%since Dec 2024
Market sensitivityBeta, 5 years
PAAA 0.03PCMM 0.09

PAAA and PCMM in the news

All news⁠

Popular comparisons

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