CLOO vs. AAA

Last updated Jul 17, 2026

CLOO (NYLI Investment Grade CLO ETF) and AAA (Alternative Access First Priority CLO Bond ETF) are both CLO funds. Both are actively managed. At a correlation of -0.07, they often move in opposite directions. Both charge a 0.25% expense ratio.

Performance

CLOO vs. AAA - Performance Comparison

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

Returns By Period

CLOO

• 1D: 0.00%
• 1M: 0.44%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAA

• 1D: -0.06%
• 1M: 0.49%
• 6M: 2.01%
• YTD: 2.17%
• 1Y: 4.98%
• 3Y*: 6.19%
• 5Y*: 4.67%
• 10Y*: —

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

CLOO vs. AAA - Yearly Performance Comparison

	2026 (YTD)
CLOO NYLI Investment Grade CLO ETF	1.10%
AAA Alternative Access First Priority CLO Bond ETF	1.12%

Correlation

The correlation between CLOO and AAA is -0.07, 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 May 6, 2026	-0.07

Return for Risk

CLOO vs. AAA — Risk / Return Rank

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

CLOO

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

AAA

AAA Risk / Return Rank: 91
AAA Sharpe Ratio Rank: 84
AAA Sortino Ratio Rank: 92
AAA Omega Ratio Rank: 87
AAA Calmar Ratio Rank: 97
AAA Martin Ratio Rank: 96

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.

CLOO vs. AAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI Investment Grade CLO ETF (CLOO) and Alternative Access 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.

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.

	CLOO	AAA	Difference
Sharpe ratio: Return per unit of total volatility	—	2.16	—
Sortino ratio: Return per unit of downside risk	—	3.68	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	8.29	—
Martin ratio: Return relative to average drawdown	—	27.84	—

Drawdowns

CLOO vs. AAA - Drawdown Comparison

The maximum CLOO drawdown since its inception was -0.04%, smaller than the maximum AAA drawdown of -2.63%. Use the drawdown chart below to compare losses from any high point for CLOO and AAA.

Drawdown Indicators

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

Volatility

Volatility by Period

	CLOO	AAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.72%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.48%	2.32%	-1.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.48%	2.31%	-1.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.48%	2.15%	-1.67%

CLOO vs. AAA - Expense Ratio Comparison

Both CLOO and AAA have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

CLOO vs. AAA - Dividend Comparison

CLOO's dividend yield for the trailing twelve months is around 0.59%, less than AAA's 4.82% 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%
CLOO NYLI Investment Grade CLO ETF	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CLOO and AAA in my portfolio?

CLOO and AAA have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLOO or AAA?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLOO or AAA?

CLOO and AAA have the same expense ratio: 0.25% per year.

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

AAA has the higher dividend yield at 4.82%, compared with 0.59% for CLOO.

What is the main difference between CLOO and AAA?

They also come from different issuers: New York Life Investment Management and Alternative Access Funds LLC.