AAA vs. FLRT
AAA (Alternative Access First Priority CLO Bond ETF) and FLRT (Pacer Aristotle Pacific Floating Rate High Income ETF) are both exchange-traded funds - AAA is a CLO fund actively managed by Alternative Access, while FLRT is a Bank Loan fund actively managed by Pacer. Both are actively managed. Over the past 5 years, AAA returned 4.70%/yr vs 6.08%/yr for FLRT. Their 0.12 correlation means their historical movements had little consistent relationship. AAA charges 0.25%/yr vs 0.60%/yr for FLRT.
Performance
AAA vs. FLRT - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with AAA having a 2.38% return and FLRT slightly higher at 2.39%.
AAA
- 1D
- 0.04%
- 1M
- 0.25%
- 6M
- 2.05%
- YTD
- 2.38%
- 1Y
- 4.44%
- 3Y*
- 6.08%
- 5Y*
- 4.70%
- 10Y*
- —
- ALL TIME*
- 4.08%
FLRT
- 1D
- 0.06%
- 1M
- 0.38%
- 6M
- 2.08%
- YTD
- 2.39%
- 1Y
- 5.09%
- 3Y*
- 7.87%
- 5Y*
- 6.08%
- 10Y*
- 4.83%
- ALL TIME*
- 4.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $104.67K | $160.03K | $268.18K | |
| $4.88M | $4.59M | $4.78M |
AAA vs. FLRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AAA Alternative Access First Priority CLO Bond ETF | 2.38% | 4.92% | 6.85% | 8.94% | 0.15% | 0.86% | 0.20% |
FLRT Pacer Aristotle Pacific Floating Rate High Income ETF | 2.39% | 6.24% | 9.18% | 14.59% | -2.72% | 3.18% | 3.07% |
Correlation
The correlation between AAA and FLRT is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2020 | 0.12 |
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Return for Risk
AAA vs. FLRT — Risk / Return Rank
AAA
FLRT
AAA vs. FLRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alternative Access First Priority CLO Bond ETF (AAA) and Pacer Aristotle Pacific Floating Rate High Income ETF (FLRT). 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 | FLRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.76 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 7.57 | 2.89 | +4.69 |
| Martin ratioReturn relative to average drawdown | 24.65 | 10.59 | +14.06 |
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Drawdowns
AAA vs. FLRT - Drawdown Comparison
The maximum AAA drawdown since its inception was -2.63%, smaller than the maximum FLRT drawdown of -20.96%. Use the drawdown chart below to compare losses from any high point for AAA and FLRT.
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Drawdown Indicators
| AAA | FLRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.63% | -20.96% | +18.33% |
Max Drawdown (1Y)Largest decline over 1 year | -0.60% | -1.78% | +1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -2.40% | -2.87% | +0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -2.63% | -7.60% | +4.97% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.96% | — |
Current DrawdownCurrent decline from peak | -0.12% | 0.00% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -0.30% | -1.39% | +1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 0.48% | -0.30% |
Volatility
AAA vs. FLRT - Volatility Comparison
Alternative Access First Priority CLO Bond ETF (AAA) has a higher volatility of 0.69% compared to Pacer Aristotle Pacific Floating Rate High Income ETF (FLRT) at 0.29%. This indicates that AAA's price experiences larger fluctuations and is considered to be riskier than FLRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAA | FLRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 0.29% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 1.73% | 1.19% | +0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.34% | 1.49% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.31% | 2.30% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.15% | 6.09% | -3.94% |
AAA vs. FLRT - Expense Ratio Comparison
AAA has a 0.25% expense ratio, which is lower than FLRT's 0.60% expense ratio.
Dividends
AAA vs. FLRT - Dividend Comparison
AAA's dividend yield for the trailing twelve months is around 4.82%, less than FLRT's 6.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAA Alternative Access First Priority CLO Bond ETF | 4.82% | 5.11% | 6.17% | 6.11% | 2.78% | 1.06% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FLRT Pacer Aristotle Pacific Floating Rate High Income ETF | 6.72% | 6.93% | 7.93% | 8.40% | 5.81% | 3.16% | 3.52% | 4.30% | 3.95% | 3.20% | 3.38% | 3.21% |
Frequently Asked Questions
AAA and FLRT 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.
AAA has higher volatility (0.69%) compared to FLRT (0.29%). In terms of maximum drawdown, AAA dropped -2.63% vs FLRT's -20.96%.
On 5-year performance, FLRT leads with 6.08% vs 4.70% for AAA. On fees, AAA is cheaper at 0.25% per year. On volatility, FLRT has been the lower-risk option at 0.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLRT has performed better with a 6.08% return vs 4.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AAA is cheaper with a 0.25% expense ratio, compared with 0.60% for FLRT.
FLRT has the higher dividend yield at 6.72%, compared with 4.82% for AAA.
AAA is categorized as CLO, while FLRT is Bank Loan. They also come from different issuers: Alternative Access and Pacer. Their fees differ too: 0.25% for AAA and 0.60% for FLRT.
FLRT currently has the higher Sharpe Ratio (3.45 vs 1.96), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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