AAA vs. CLOC

Last updated Jul 14, 2026

AAA (Alternative Access First Priority CLO Bond ETF) and CLOC (AAM Crescent CLO ETF) are both CLO funds. Both are actively managed. At a correlation of -0.12, they often move in opposite directions. AAA charges 0.25%/yr vs 0.49%/yr for CLOC.

Performance

AAA vs. CLOC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alternative Access First Priority CLO Bond ETF (AAA) and AAM Crescent CLO ETF (CLOC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAA achieves a 2.11% return, which is significantly lower than CLOC's 2.92% return.

AAA

• 1D: -0.02%
• 1M: 0.41%
• 6M: 2.09%
• YTD: 2.11%
• 1Y: 4.72%
• 3Y*: 6.22%
• 5Y*: 4.66%
• 10Y*: —

CLOC

• 1D: 0.04%
• 1M: 0.34%
• 6M: 2.55%
• YTD: 2.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAA vs. CLOC - Yearly Performance Comparison

	2026 (YTD)	2025
AAA Alternative Access First Priority CLO Bond ETF	2.11%	1.16%
CLOC AAM Crescent CLO ETF	2.92%	0.93%

Correlation

The correlation between AAA and CLOC is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 23, 2025	-0.12

Return for Risk

AAA vs. CLOC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAA

AAA Risk / Return Rank: 90
AAA Sharpe Ratio Rank: 81
AAA Sortino Ratio Rank: 91
AAA Omega Ratio Rank: 84
AAA Calmar Ratio Rank: 97
AAA Martin Ratio Rank: 96

CLOC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAA vs. CLOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alternative Access First Priority CLO Bond ETF (AAA) and AAM Crescent CLO ETF (CLOC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AAA	CLOC	Difference
Sharpe ratio: Return per unit of total volatility	2.04	—	—
Sortino ratio: Return per unit of downside risk	3.48	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	7.87	—	—
Martin ratio: Return relative to average drawdown	26.77	—	—

Drawdowns

AAA vs. CLOC - Drawdown Comparison

The maximum AAA drawdown since its inception was -2.63%, which is greater than CLOC's maximum drawdown of -0.54%. Use the drawdown chart below to compare losses from any high point for AAA and CLOC.

Drawdown Indicators

	AAA	CLOC	Difference
Max Drawdown Largest peak-to-trough decline	-2.63%	-0.54%	-2.09%
Max Drawdown (1Y) Largest decline over 1 year	-0.60%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-2.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-2.63%	—	—
Current Drawdown Current decline from peak	-0.37%	0.00%	-0.37%
Average Drawdown Average peak-to-trough decline	-0.31%	-0.06%	-0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.18%	—	—

Volatility

Volatility by Period

	AAA	CLOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.79%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.32%	0.87%	+1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.31%	0.87%	+1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.15%	0.87%	+1.28%

AAA vs. CLOC - Expense Ratio Comparison

AAA has a 0.25% expense ratio, which is lower than CLOC's 0.49% expense ratio.

Dividends

AAA vs. CLOC - Dividend Comparison

AAA's dividend yield for the trailing twelve months is around 4.82%, more than CLOC's 4.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
AAA Alternative Access First Priority CLO Bond ETF	4.82%	5.11%	6.17%	6.11%	2.78%	1.06%	0.32%
CLOC AAM Crescent CLO ETF	4.19%	1.15%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AAA and CLOC in my portfolio?

AAA and CLOC have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AAA or CLOC?

On fees, AAA is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAA or CLOC?

AAA is cheaper with a 0.25% expense ratio, compared with 0.49% for CLOC.

Which ETF pays a higher dividend yield, AAA or CLOC?

AAA has the higher dividend yield at 4.82%, compared with 4.19% for CLOC.

What is the main difference between AAA and CLOC?

They also come from different issuers: Alternative Access Funds LLC and AAM. Their fees differ too: 0.25% for AAA and 0.49% for CLOC.