AAAC vs. AAA

Last updated Jun 4, 2026

AAAC (Columbia AAA CLO ETF) and AAA (AAF First Priority CLO Bond ETF) are both CLO funds. Both are actively managed. At a 0.15 correlation, their price movements are largely independent. AAAC charges 0.20%/yr vs 0.25%/yr for AAA.

Performance

AAAC vs. AAA - Performance Comparison

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

Returns By Period

In the year-to-date period, AAAC achieves a 2.06% return, which is significantly higher than AAA's 1.86% return.

AAAC

• 1D: 0.00%
• 1M: 0.35%
• YTD: 2.06%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAA

• 1D: -0.22%
• 1M: 0.67%
• YTD: 1.86%
• 6M: 2.19%
• 1Y: 5.39%
• 3Y*: 6.50%
• 5Y*: 4.64%
• 10Y*: —

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

AAAC vs. AAA - Yearly Performance Comparison

	2026 (YTD)	2025
AAAC Columbia AAA CLO ETF	2.06%	0.20%
AAA AAF First Priority CLO Bond ETF	1.86%	0.20%

Correlation

The correlation between AAAC and AAA is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.15

Return for Risk

AAAC vs. AAA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAA

AAA Risk / Return Rank: 85
AAA Sharpe Ratio Rank: 71
AAA Sortino Ratio Rank: 87
AAA Omega Ratio Rank: 77
AAA Calmar Ratio Rank: 96
AAA Martin Ratio Rank: 94

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.

AAAC vs. AAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia AAA CLO ETF (AAAC) and AAF First Priority CLO Bond ETF (AAA). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AAAC	AAA	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	5.56	1.93	+3.63

Drawdowns

AAAC vs. AAA - Drawdown Comparison

The maximum AAAC drawdown since its inception was -0.55%, smaller than the maximum AAA drawdown of -2.63%. Use the drawdown chart below to compare losses from any high point for AAAC and AAA.

Drawdown Indicators

	AAAC	AAA	Difference
Max Drawdown Largest peak-to-trough decline	-0.55%	-2.63%	+2.08%
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	0.00%	-0.22%	+0.22%
Average Drawdown Average peak-to-trough decline	-0.04%	-0.30%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.19%	—

Volatility

Volatility by Period

	AAAC	AAA	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	0.89%	2.30%	-1.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.89%	2.28%	-1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.89%	2.15%	-1.26%

AAAC vs. AAA - Expense Ratio Comparison

AAAC has a 0.20% expense ratio, which is lower than AAA's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AAAC vs. AAA - Dividend Comparison

AAAC's dividend yield for the trailing twelve months is around 2.27%, less than AAA's 4.90% 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%
AAAC Columbia AAA CLO ETF	2.27%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AAAC and AAA in my portfolio?

AAAC and AAA have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AAAC or AAA?

On fees, AAAC is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAAC or AAA?

AAAC is cheaper with a 0.20% expense ratio, compared with 0.25% for AAA.

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

AAA has the higher dividend yield at 4.90%, compared with 2.27% for AAAC.

What is the main difference between AAAC and AAA?

They also come from different issuers: Columbia Threadneedle and Alternative Access Funds LLC. Their fees differ too: 0.20% for AAAC and 0.25% for AAA.