AAA vs. SEMRX
AAA (Alternative Access First Priority CLO Bond ETF) and SEMRX (Medalist Partners Short Duration Fund) are both funds - AAA is a CLO fund actively managed by Alternative Access, while SEMRX is a Ultrashort Bond fund managed by Medalist Partners. Over the past 5 years, AAA returned 4.70%/yr vs 4.85%/yr for SEMRX. Their 0.05 correlation means their historical movements had little consistent relationship. AAA charges 0.25%/yr vs 0.85%/yr for SEMRX.
Performance
AAA vs. SEMRX - Performance Comparison
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Returns By Period
In the year-to-date period, AAA achieves a 2.38% return, which is significantly lower than SEMRX's 2.62% return.
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%
SEMRX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.94%
- YTD
- 2.62%
- 1Y
- 4.94%
- 3Y*
- 6.91%
- 5Y*
- 4.85%
- 10Y*
- 3.43%
- ALL TIME*
- 2.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $104.67K | $160.03K | $268.18K | |
| $0.00 | $0.00 | $0.00 |
AAA vs. SEMRX - 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% |
SEMRX Medalist Partners Short Duration Fund | 2.62% | 6.47% | 8.21% | 8.76% | -1.69% | 1.93% | 1.69% |
Correlation
The correlation between AAA and SEMRX is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2020 | 0.05 |
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Return for Risk
AAA vs. SEMRX — Risk / Return Rank
AAA
SEMRX
AAA vs. SEMRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alternative Access First Priority CLO Bond ETF (AAA) and Medalist Partners Short Duration Fund (SEMRX). 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 | SEMRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -7.29 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 3.12 | -1.74 |
| Calmar ratioReturn relative to maximum drawdown | 7.57 | 10.92 | -3.35 |
| Martin ratioReturn relative to average drawdown | 24.65 | 45.19 | -20.55 |
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Drawdowns
AAA vs. SEMRX - Drawdown Comparison
The maximum AAA drawdown since its inception was -2.63%, smaller than the maximum SEMRX drawdown of -13.09%. Use the drawdown chart below to compare losses from any high point for AAA and SEMRX.
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Drawdown Indicators
| AAA | SEMRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.63% | -13.09% | +10.46% |
Max Drawdown (1Y)Largest decline over 1 year | -0.60% | -0.52% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -2.40% | -0.63% | -1.77% |
Max Drawdown (5Y)Largest decline over 5 years | -2.63% | -4.05% | +1.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.09% | — |
Current DrawdownCurrent decline from peak | -0.12% | 0.00% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -0.30% | -0.62% | +0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 0.13% | +0.05% |
Volatility
AAA vs. SEMRX - Volatility Comparison
Alternative Access First Priority CLO Bond ETF (AAA) has a higher volatility of 0.69% compared to Medalist Partners Short Duration Fund (SEMRX) at 0.22%. This indicates that AAA's price experiences larger fluctuations and is considered to be riskier than SEMRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAA | SEMRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 0.22% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 1.73% | 1.28% | +0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.34% | 1.85% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.31% | 1.85% | +0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.15% | 2.31% | -0.16% |
AAA vs. SEMRX - Expense Ratio Comparison
AAA has a 0.25% expense ratio, which is lower than SEMRX's 0.85% expense ratio.
Dividends
AAA vs. SEMRX - Dividend Comparison
AAA's dividend yield for the trailing twelve months is around 4.82%, less than SEMRX's 5.13% 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% |
SEMRX Medalist Partners Short Duration Fund | 5.13% | 5.94% | 6.13% | 6.05% | 3.22% | 1.71% | 1.95% | 2.90% | 2.70% | 2.20% | 3.03% | 2.35% |
Frequently Asked Questions
AAA and SEMRX have a correlation of 0.09, 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 SEMRX (0.22%). In terms of maximum drawdown, AAA dropped -2.63% vs SEMRX's -13.09%.
SEMRX currently has the higher Sharpe Ratio (3.09 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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