AAAD vs. PFRL

Last updated Jul 28, 2026

AAAD (PGIM AAA CLO Aggregate Duration ETF) and PFRL (PGIM Floating Rate Income ETF) are both exchange-traded funds - AAAD is a CLO fund actively managed by PGIM, while PFRL is a Bank Loan fund actively managed by PGIM. Both are actively managed. Their -0.08 correlation means they have often moved in opposite directions in the past. AAAD charges 0.19%/yr vs 0.72%/yr for PFRL.

Performance

AAAD vs. PFRL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM AAA CLO Aggregate Duration ETF (AAAD) and PGIM Floating Rate Income ETF (PFRL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AAAD

• 1D: 0.21%
• 1M: -0.98%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

PFRL

• 1D: -0.06%
• 1M: 0.53%
• 6M: 2.60%
• YTD: 2.81%
• 1Y: 5.27%
• 3Y*: 7.87%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.96%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAAD PGIM AAA CLO Aggregate Duration ETF	$4.58K	$8.25K	$10.10K
PFRL PGIM Floating Rate Income ETF	$459.57K	$625.30K	$611.48K

AAAD vs. PFRL - Yearly Performance Comparison

	2026 (YTD)
AAAD PGIM AAA CLO Aggregate Duration ETF	-0.04%
PFRL PGIM Floating Rate Income ETF	0.93%

Correlation

The correlation between AAAD and PFRL is -0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 3, 2026	-0.08

Return for Risk

AAAD vs. PFRL — Risk / Return Rank

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

AAAD

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

PFRL

PFRL Risk / Return Rank: 93
PFRL Sharpe Ratio Rank: 95
PFRL Sortino Ratio Rank: 95
PFRL Omega Ratio Rank: 96
PFRL Calmar Ratio Rank: 91
PFRL Martin Ratio Rank: 90

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.

AAAD vs. PFRL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM AAA CLO Aggregate Duration ETF (AAAD) and PGIM Floating Rate Income ETF (PFRL). 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.

	AAAD	PFRL	Difference
Sharpe ratio: Return per unit of total volatility	—	2.78	—
Sortino ratio: Return per unit of downside risk	—	3.96	—
Omega ratio: Gain probability vs. loss probability	—	1.59	—
Calmar ratio: Return relative to maximum drawdown	—	4.22	—
Martin ratio: Return relative to average drawdown	—	14.35	—

Drawdowns

AAAD vs. PFRL - Drawdown Comparison

The maximum AAAD drawdown since its inception was -1.37%, smaller than the maximum PFRL drawdown of -8.83%. Use the drawdown chart below to compare losses from any high point for AAAD and PFRL.

Drawdown Indicators

	AAAD	PFRL	Difference
Max Drawdown Largest peak-to-trough decline	-1.37%	-8.83%	+7.46%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.25%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-8.83%	—
Current Drawdown Current decline from peak	-1.01%	-0.08%	-0.93%
Average Drawdown Average peak-to-trough decline	-0.49%	-0.42%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.37%	—

Volatility

Volatility by Period

	AAAD	PFRL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.55%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.56%	1.91%	+1.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.56%	4.78%	-1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.56%	4.78%	-1.22%

AAAD vs. PFRL - Expense Ratio Comparison

AAAD has a 0.19% expense ratio, which is lower than PFRL's 0.72% expense ratio.

Dividends

AAAD vs. PFRL - Dividend Comparison

AAAD's dividend yield for the trailing twelve months is around 0.03%, less than PFRL's 6.66% yield.

Position	TTM	2025	2024	2023	2022
AAAD PGIM AAA CLO Aggregate Duration ETF	0.03%	0.00%	0.00%	0.00%	0.00%
PFRL PGIM Floating Rate Income ETF	6.66%	7.34%	8.96%	9.84%	3.55%

Frequently Asked Questions

Can I hold both AAAD and PFRL in my portfolio?

AAAD and PFRL have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AAAD or PFRL?

On fees, AAAD is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAAD or PFRL?

AAAD is cheaper with a 0.19% expense ratio, compared with 0.72% for PFRL.

Which ETF pays a higher dividend yield, AAAD or PFRL?

PFRL has the higher dividend yield at 6.66%, compared with 0.03% for AAAD.

What is the main difference between AAAD and PFRL?

AAAD is categorized as CLO, while PFRL is Bank Loan. Their fees differ too: 0.19% for AAAD and 0.72% for PFRL.