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PAAA vs UUPP

PGIM AAA CLO ETF

PAAAANYSE Arca

Principal CLO ETF

UUPPCCboe

Overlap

No data

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

PAAA0.19%UUPP0.19%

Avg volume · 30D

PAAA 9472.7×the volume

PAAA2.44MUUPP258

PAAA vs UUPP Performance

Jul 31, 2026 – Oct 30, 2026

+1.2%PAAA+1.5%UUPP

Jul 31, 2026 to Oct 30, 2026. PAAA +1.2%. UUPP +1.5%. Use the arrow keys to read each point.0%0.25%0.5%0.75%1%Jul 2026Sep 2026Oct 2026
Expense ratio
PAAA 0.19%
UUPP 0.19%
Fund size
PAAA $15.1B
UUPP $15M
1Y total return
PAAA +4.8%
UUPP No data
Yield (12M)
PAAA 5.06%
UUPP No data
Holdings
PAAA 325
UUPP 29
Avg volume (30D)
PAAA 2.44M sh, better
UUPP 258 sh
NAV per share
PAAA $51.48
UUPP $25.15
52W range

ETF.net Grade

PAAA: Cost 80, Risk 79, Mission not scored, Tradability 96, Holdings 75, Durability 87. UUPP: Cost 80, Risk 54, Mission not scored, Tradability 19, Holdings 42, Durability 17.
Pillar letters and Scores for PAAA, UUPP, with each pillar’s weight
PillarPAAAUUPP
Cost30% weightA80A80
Mission25% weightNot scoredNot scored
Risk15% weightA79HigherC54
Tradability15% weightA96HigherF19
Holdings10% weightA75HigherC42
Durability5% weightA87HigherF17

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 UUPP 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 UUPP 13th 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 11BTRPAHartford AAA CLO ETFScore 57
  6. Rank 13CUUPPPrincipal CLO ETFScore 53
  7. Rank 14CPSQAPalmer Square CLO Senior Debt ETFScore 52

Our read on each fund

ETF.net Research

PAAAAPGIM AAA CLO ETF

UUPPCPrincipal 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.

UUPP 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.

UUPP 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.

UUPP 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.

UUPP No data

Full PAAA profile⁠

Full UUPP profile⁠

PAAA vs UUPP 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 UUPP Cost

Same expense ratio

$3,952

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

  • PAAA 0.19%

    $3,952

  • UUPP 0.19%

    $3,952

$10,000
30 years

Cost over time

  • PAAA 0.19%
  • UUPP 0.19%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K051015202530PAAA $3,952UUPP $3,952

Year by year

YearPAAAUUPP
10$347$347
20$1,351$1,351
30$3,952$3,952

Expense ratio

  • 0.19%PAAA
  • 0.19%UUPP
  • Middle half of Collateralized Loan Obligations (CLO) funds
  • Median 0.28%

PAAA 2nd cheapest of 34 funds

UUPP 2nd cheapest of 34 funds

PAAA vs UUPP Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
PAAA 5.06%
UUPP No data
Payout (12M)
PAAA $2.60
UUPP No data
Last payment
PAAA $0.21
UUPP $0.10
Ex-dividend
PAAA Oct 30, 2026
UUPP Oct 1, 2026
Paid on
PAAA Pays Nov 3, 2026
UUPP Oct 5, 2026
Frequency
PAAA Monthly
UUPP 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
UUPPMonthly · 4 paymentsAll UUPP payments⁠
One bar per payment. 4 payments from 2023 to 2026 YTD. Jul 1, 2026 $0.12; Aug 3, 2026 $0.11; Sep 1, 2026 $0.10; Oct 1, 2026 $0.10. Use the arrow keys to read each point.$0$0.2520232026YTD

PAAA vs UUPP 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%UUPP No data
Return per unit of riskSharpe ratio, 3 years
PAAA 2.82UUPP No data
Worst fallMax drawdown, 5 years
PAAA −1.0%since Jul 2023UUPP No data
Market sensitivityBeta, 5 years
PAAA 0.03UUPP −0.10

PAAA and UUPP in the news

All news⁠

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