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AAA vs. SPY

Last updated Mar 1, 2024

Compare and contrast key facts about AAF First Priority CLO Bond ETF (AAA) and SPDR S&P 500 ETF (SPY).

AAA and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AAA is an actively managed fund by Alternative Access Funds LLC. It was launched on Sep 9, 2020. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: AAA or SPY.

Key characteristics


AAASPY
YTD Return1.46%6.89%
1Y Return8.86%30.67%
3Y Return (Ann)3.72%10.90%
Sharpe Ratio5.192.45
Daily Std Dev1.72%12.29%
Max Drawdown-2.64%-55.19%
Current Drawdown-0.01%0.00%

Correlation

-0.04
-1.001.00

The correlation between AAA and SPY is -0.04. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

AAA vs. SPY - Performance Comparison

In the year-to-date period, AAA achieves a 1.46% return, which is significantly lower than SPY's 6.89% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.


10.00%20.00%30.00%40.00%50.00%60.00%OctoberNovemberDecember2024February
12.01%
57.62%
AAA
SPY

Compare stocks, funds, or ETFs


AAF First Priority CLO Bond ETF

SPDR S&P 500 ETF

AAA vs. SPY - Dividend Comparison

AAA's dividend yield for the trailing twelve months is around 6.18%, more than SPY's 1.31% yield.


TTM20232022202120202019201820172016201520142013
AAA
AAF First Priority CLO Bond ETF
6.18%6.11%2.78%1.05%0.32%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPY
SPDR S&P 500 ETF
1.31%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%1.81%

AAA vs. SPY - Expense Ratio Comparison

AAA has a 0.25% expense ratio, which is higher than SPY's 0.09% expense ratio.

0.25%
0.00%2.15%
0.09%
0.00%2.15%

AAA vs. SPY - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for AAF First Priority CLO Bond ETF (AAA) and SPDR S&P 500 ETF (SPY). 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.


Sharpe ratioSortino ratioOmega ratioCalmar ratioUlcer Index
AAA
AAF First Priority CLO Bond ETF
5.19
SPY
SPDR S&P 500 ETF
2.45

AAA vs. SPY - Sharpe Ratio Comparison

The current AAA Sharpe Ratio is 5.19, which is higher than the SPY Sharpe Ratio of 2.45. The chart below compares the 12-month rolling Sharpe Ratio of AAA and SPY.


Rolling 12-month Sharpe Ratio1.002.003.004.005.006.007.00OctoberNovemberDecember2024February
5.19
2.45
AAA
SPY

AAA vs. SPY - Drawdown Comparison

The maximum AAA drawdown since its inception was -2.64%, smaller than the maximum SPY drawdown of -55.19%. The drawdown chart below compares losses from any high point along the way for AAA and SPY


-12.00%-10.00%-8.00%-6.00%-4.00%-2.00%0.00%OctoberNovemberDecember2024February
-0.01%
0
AAA
SPY

AAA vs. SPY - Volatility Comparison

The current volatility for AAF First Priority CLO Bond ETF (AAA) is 0.35%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.90%. This indicates that AAA experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%1.00%2.00%3.00%4.00%5.00%OctoberNovemberDecember2024February
0.35%
3.90%
AAA
SPY