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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in PGIM AAA CLO ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
PGIM AAA CLO ETF (PAAA) has returned 0.99% so far this year and 5.35% over the past 12 months.
PGIM AAA CLO ETF
- 1D
- 0.04%
- 1M
- 0.20%
- YTD
- 0.99%
- 6M
- 2.21%
- 1Y
- 5.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Jul 26, 2023, PAAA's average daily return is +0.03%, while the average monthly return is +0.52%. At this rate, your investment would double in approximately 11.1 years.
Historically, 100% of months were positive and 0% were negative. The best month was Dec 2023 with a return of +0.9%, while the worst month was Jul 2023 at 0.1%. The longest winning streak lasted 33 consecutive months, and the longest losing streak was 0 months.
On a daily basis, PAAA closed higher 74% of trading days. The best single day was May 1, 2025 with a return of +0.3%, while the worst single day was Apr 10, 2025 at -0.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.55% | 0.24% | 0.20% | 0.99% | |||||||||
| 2025 | 0.63% | 0.28% | 0.10% | 0.22% | 0.85% | 0.55% | 0.47% | 0.54% | 0.41% | 0.38% | 0.39% | 0.44% | 5.37% |
| 2024 | 0.71% | 0.71% | 0.51% | 0.59% | 0.84% | 0.52% | 0.52% | 0.53% | 0.62% | 0.56% | 0.58% | 0.54% | 7.47% |
| 2023 | 0.05% | 0.80% | 0.57% | 0.54% | 0.88% | 0.93% | 3.83% |
Benchmark Metrics
PGIM AAA CLO ETF has an annualized alpha of 6.30%, beta of 0.02, and R² of 0.12 versus S&P 500 Index. Calculated based on daily prices since July 27, 2023.
- This ETF captured 15.42% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -19.45%) — a profile typical of hedging or uncorrelated assets.
- Beta of 0.02 may look defensive, but with R² of 0.12 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R² of 0.12 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 6.30%
- Beta
- 0.02
- R²
- 0.12
- Upside Capture
- 15.42%
- Downside Capture
- -19.45%
Expense Ratio
PAAA has an expense ratio of 0.19%, which is considered low.
Return for Risk
Risk / Return Rank
PAAA ranks 98 for risk / return — in the top 98% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for PGIM AAA CLO ETF (PAAA) and compare them to a chosen benchmark (S&P 500 Index).
| PAAA | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 4.03 | 0.90 | +3.13 |
Sortino ratioReturn per unit of downside risk | 4.87 | 1.39 | +3.49 |
Omega ratioGain probability vs. loss probability | 2.94 | 1.21 | +1.73 |
Calmar ratioReturn relative to maximum drawdown | 5.26 | 1.40 | +3.86 |
Martin ratioReturn relative to average drawdown | 43.72 | 6.61 | +37.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore PAAA risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
PGIM AAA CLO ETF provided a 5.48% dividend yield over the last twelve months, with an annual payout of $2.81 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $2.81 | $2.63 | $3.01 | $1.39 |
Dividend yield | 5.48% | 5.12% | 5.88% | 2.76% |
Monthly Dividends
The table displays the monthly dividend distributions for PGIM AAA CLO ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.19 | $0.39 | $0.58 | |||||||||
| 2025 | $0.00 | $0.21 | $0.19 | $0.23 | $0.22 | $0.23 | $0.22 | $0.22 | $0.23 | $0.22 | $0.22 | $0.42 | $2.63 |
| 2024 | $0.00 | $0.28 | $0.27 | $0.30 | $0.27 | $0.28 | $0.22 | $0.24 | $0.24 | $0.25 | $0.20 | $0.45 | $3.01 |
| 2023 | $0.29 | $0.23 | $0.29 | $0.59 | $1.39 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the PGIM AAA CLO ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the PGIM AAA CLO ETF was 1.04%, occurring on Apr 10, 2025. Recovery took 9 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -1.04% | Apr 3, 2025 | 6 | Apr 10, 2025 | 9 | Apr 24, 2025 | 15 |
| -0.27% | Feb 8, 2024 | 1 | Feb 8, 2024 | 9 | Feb 22, 2024 | 10 |
| -0.25% | Mar 10, 2025 | 11 | Mar 24, 2025 | 3 | Mar 27, 2025 | 14 |
| -0.17% | Feb 27, 2026 | 3 | Mar 3, 2026 | 10 | Mar 17, 2026 | 13 |
| -0.17% | Nov 27, 2023 | 2 | Nov 28, 2023 | 1 | Nov 29, 2023 | 3 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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