CBUDX vs. PAAA
CBUDX (CrossingBridge Ultra-Short Duration Fund) and PAAA (PGIM AAA CLO ETF) are both funds - CBUDX is a Ultrashort Bond fund managed by CrossingBridge, while PAAA is a CLO fund actively managed by PGIM. Over the past year, CBUDX returned 4.54% vs 5.13% for PAAA. At a 0.09 correlation, their price movements are largely independent. CBUDX charges 0.89%/yr vs 0.19%/yr for PAAA.
Performance
CBUDX vs. PAAA - Performance Comparison
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Returns By Period
In the year-to-date period, CBUDX achieves a 1.74% return, which is significantly lower than PAAA's 2.24% return.
CBUDX
- 1D
- 0.10%
- 1M
- 0.33%
- YTD
- 1.74%
- 6M
- 2.09%
- 1Y
- 4.54%
- 3Y*
- 5.35%
- 5Y*
- —
- 10Y*
- —
PAAA
- 1D
- 0.02%
- 1M
- 0.26%
- YTD
- 2.24%
- 6M
- 2.39%
- 1Y
- 5.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBUDX vs. PAAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CBUDX CrossingBridge Ultra-Short Duration Fund | 1.74% | 5.25% | 5.83% | 2.86% |
PAAA PGIM AAA CLO ETF | 2.24% | 5.37% | 7.47% | 3.83% |
Correlation
The correlation between CBUDX and PAAA is 0.03, 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 (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2023 | 0.09 |
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Return for Risk
CBUDX vs. PAAA — Risk / Return Rank
CBUDX
PAAA
CBUDX vs. PAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CrossingBridge Ultra-Short Duration Fund (CBUDX) and PGIM AAA CLO ETF (PAAA). 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.
| CBUDX | PAAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.53 | ||
| Sortino ratioReturn per unit of downside risk | -11.11 | ||
| Omega ratioGain probability vs. loss probability | 4.30 | 6.78 | -2.49 |
| Calmar ratioReturn relative to maximum drawdown | 11.63 | 29.61 | -17.97 |
| Martin ratioReturn relative to average drawdown | 78.59 | 183.59 | -105.00 |
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Drawdowns
CBUDX vs. PAAA - Drawdown Comparison
The maximum CBUDX drawdown since its inception was -0.40%, smaller than the maximum PAAA drawdown of -1.04%. Use the drawdown chart below to compare losses from any high point for CBUDX and PAAA.
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Drawdown Indicators
| CBUDX | PAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.40% | -1.04% | +0.64% |
Max Drawdown (1Y)Largest decline over 1 year | -0.40% | -0.17% | -0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -0.40% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -0.02% | -0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 0.03% | +0.03% |
Volatility
CBUDX vs. PAAA - Volatility Comparison
CrossingBridge Ultra-Short Duration Fund (CBUDX) has a higher volatility of 0.28% compared to PGIM AAA CLO ETF (PAAA) at 0.10%. This indicates that CBUDX's price experiences larger fluctuations and is considered to be riskier than PAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBUDX | PAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.28% | 0.10% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 0.68% | 0.35% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.85% | 0.47% | +0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.91% | 0.97% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.91% | 0.97% | -0.06% |
CBUDX vs. PAAA - Expense Ratio Comparison
CBUDX has a 0.89% expense ratio, which is higher than PAAA's 0.19% expense ratio.
Dividends
CBUDX vs. PAAA - Dividend Comparison
CBUDX's dividend yield for the trailing twelve months is around 4.44%, less than PAAA's 4.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CBUDX CrossingBridge Ultra-Short Duration Fund | 4.44% | 4.61% | 5.68% | 5.67% | 2.94% | 0.16% |
PAAA PGIM AAA CLO ETF | 4.87% | 5.12% | 5.88% | 2.76% | 0.00% | 0.00% |
Frequently Asked Questions
CBUDX and PAAA have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CBUDX has higher volatility (0.28%) compared to PAAA (0.10%). In terms of maximum drawdown, CBUDX dropped -0.40% vs PAAA's -1.04%.
PAAA currently has the higher Sharpe Ratio (11.01 vs 5.48), 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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