AAA vs. YCLO

Last updated Jul 14, 2026

AAA (Alternative Access First Priority CLO Bond ETF) and YCLO (Franklin BSP CLO ETF) are both CLO funds. Both are actively managed. At a correlation of -0.10, they often move in opposite directions.

Performance

AAA vs. YCLO - Performance Comparison

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

Returns By Period

AAA

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

YCLO

• 1D: 0.04%
• 1M: 0.59%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AAA vs. YCLO - Yearly Performance Comparison

	2026 (YTD)
AAA Alternative Access First Priority CLO Bond ETF	0.25%
YCLO Franklin BSP CLO ETF	0.84%

Correlation

The correlation between AAA and YCLO is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 4, 2026	-0.10

Return for Risk

AAA vs. YCLO — 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

YCLO

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. YCLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alternative Access First Priority CLO Bond ETF (AAA) and Franklin BSP CLO ETF (YCLO). 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	YCLO	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. YCLO - Drawdown Comparison

The maximum AAA drawdown since its inception was -2.63%, which is greater than YCLO's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for AAA and YCLO.

Drawdown Indicators

	AAA	YCLO	Difference
Max Drawdown Largest peak-to-trough decline	-2.63%	-0.04%	-2.59%
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%	-0.00%	-0.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.18%	—	—

Volatility

Volatility by Period

	AAA	YCLO	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%	0.43%	+1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.31%	0.43%	+1.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.15%	0.43%	+1.72%

Dividends

AAA vs. YCLO - Dividend Comparison

AAA's dividend yield for the trailing twelve months is around 4.82%, more than YCLO's 0.31% 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%
YCLO Franklin BSP CLO ETF	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AAA and YCLO in my portfolio?

AAA and YCLO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

AAA has the higher dividend yield at 4.82%, compared with 0.31% for YCLO.

What is the main difference between AAA and YCLO?

They also come from different issuers: Alternative Access Funds LLC and Franklin Templeton.