AAA vs. CLOC
AAA (AAF 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
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Returns By Period
In the year-to-date period, AAA achieves a 1.86% return, which is significantly lower than CLOC's 2.34% return.
AAA
- 1D
- -0.22%
- 1M
- 0.67%
- YTD
- 1.86%
- 6M
- 2.19%
- 1Y
- 5.39%
- 3Y*
- 6.50%
- 5Y*
- 4.64%
- 10Y*
- —
CLOC
- 1D
- 0.00%
- 1M
- 0.62%
- YTD
- 2.34%
- 6M
- 2.78%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AAA vs. CLOC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AAA AAF First Priority CLO Bond ETF | 1.86% | 1.04% |
CLOC AAM Crescent CLO ETF | 2.34% | 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 24, 2025 | -0.12 |
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Return for Risk
AAA vs. CLOC — Risk / Return Rank
AAA
CLOC
AAA vs. CLOC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AAF 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.
| AAA | CLOC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.47 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 8.98 | — | — |
| Martin ratioReturn relative to average drawdown | 27.78 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AAA | CLOC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.36 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.05 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.93 | 6.09 | -4.16 |
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.
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Drawdown Indicators
| AAA | CLOC | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -0.22% | 0.00% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -0.30% | -0.07% | -0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | — | — |
Volatility
AAA vs. CLOC - Volatility Comparison
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Volatility by Period
| AAA | CLOC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.30% | 0.91% | +1.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.28% | 0.91% | +1.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.15% | 0.91% | +1.24% |
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 4.90%, more than CLOC's 3.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
AAA AAF First Priority CLO Bond ETF | 4.90% | 5.11% | 6.17% | 6.11% | 2.78% | 1.06% | 0.32% |
CLOC AAM Crescent CLO ETF | 3.67% | 1.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
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.
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.
AAA is cheaper with a 0.25% expense ratio, compared with 0.49% for CLOC.
AAA has the higher dividend yield at 4.90%, compared with 3.67% for 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.
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