CLOA vs. PAAA
Compare and contrast key facts about BlackRock AAA CLO ETF (CLOA) and PGIM AAA CLO ETF (PAAA).
CLOA and PAAA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CLOA is an actively managed fund by Blackrock. It was launched on Jan 10, 2023. PAAA is an actively managed fund by PGIM. It was launched on Jul 19, 2023.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CLOA or PAAA.
Correlation
The correlation between CLOA and PAAA is 0.14, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
CLOA vs. PAAA - Performance Comparison
Key characteristics
CLOA:
3.45
PAAA:
4.45
CLOA:
4.62
PAAA:
5.45
CLOA:
2.21
PAAA:
2.93
CLOA:
5.15
PAAA:
5.88
CLOA:
33.47
PAAA:
47.82
CLOA:
0.17%
PAAA:
0.13%
CLOA:
1.69%
PAAA:
1.37%
CLOA:
-1.34%
PAAA:
-1.04%
CLOA:
-0.01%
PAAA:
0.00%
Returns By Period
The year-to-date returns for both investments are quite close, with CLOA having a 1.05% return and PAAA slightly higher at 1.09%.
CLOA
1.05%
0.32%
2.33%
5.85%
N/A
N/A
PAAA
1.09%
0.35%
2.37%
6.07%
N/A
N/A
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CLOA vs. PAAA - Expense Ratio Comparison
CLOA has a 0.20% expense ratio, which is higher than PAAA's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
CLOA vs. PAAA — Risk-Adjusted Performance Rank
CLOA
PAAA
CLOA vs. PAAA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock AAA CLO ETF (CLOA) 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.
Dividends
CLOA vs. PAAA - Dividend Comparison
CLOA's dividend yield for the trailing twelve months is around 5.92%, more than PAAA's 5.48% yield.
| TTM | 2024 | 2023 | |
|---|---|---|---|
CLOA BlackRock AAA CLO ETF | 5.92% | 6.01% | 5.88% |
PAAA PGIM AAA CLO ETF | 5.48% | 5.88% | 2.76% |
Drawdowns
CLOA vs. PAAA - Drawdown Comparison
The maximum CLOA drawdown since its inception was -1.34%, which is greater than PAAA's maximum drawdown of -1.04%. Use the drawdown chart below to compare losses from any high point for CLOA and PAAA. For additional features, visit the drawdowns tool.
Volatility
CLOA vs. PAAA - Volatility Comparison
BlackRock AAA CLO ETF (CLOA) has a higher volatility of 1.49% compared to PGIM AAA CLO ETF (PAAA) at 1.27%. This indicates that CLOA'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.