CLOO vs. AAAD

Last updated Jul 8, 2026

CLOO (NYLI Investment Grade CLO ETF) and AAAD (PGIM AAA CLO Aggregate Duration ETF) are both CLO funds. Both are actively managed. At a 0.02 correlation, their price movements are largely independent. CLOO charges 0.25%/yr vs 0.19%/yr for AAAD.

Performance

CLOO vs. AAAD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI Investment Grade CLO ETF (CLOO) and PGIM AAA CLO Aggregate Duration ETF (AAAD). 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*: —

AAAD

• 1D: -0.42%
• 1M: 0.42%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLOO vs. AAAD - Yearly Performance Comparison

	2026 (YTD)
CLOO NYLI Investment Grade CLO ETF	0.48%
AAAD PGIM AAA CLO Aggregate Duration ETF	0.17%

Correlation

The correlation between CLOO and AAAD is 0.02, 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 Jun 3, 2026	0.02

Return for Risk

CLOO vs. AAAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI Investment Grade CLO ETF (CLOO) and PGIM AAA CLO Aggregate Duration ETF (AAAD). 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.

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

Drawdowns

CLOO vs. AAAD - Drawdown Comparison

The maximum CLOO drawdown since its inception was -0.04%, smaller than the maximum AAAD drawdown of -0.79%. Use the drawdown chart below to compare losses from any high point for CLOO and AAAD.

Drawdown Indicators

	CLOO	AAAD	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-0.79%	+0.75%
Current Drawdown Current decline from peak	0.00%	-0.79%	+0.79%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.21%	+0.21%

Volatility

Volatility by Period

	CLOO	AAAD	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.50%	3.88%	-3.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.50%	3.88%	-3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.50%	3.88%	-3.38%

CLOO vs. AAAD - Expense Ratio Comparison

CLOO has a 0.25% expense ratio, which is higher than AAAD'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%.

Dividends

CLOO vs. AAAD - Dividend Comparison

CLOO's dividend yield for the trailing twelve months is around 0.59%, more than AAAD's 0.03% yield.

Position	TTM
AAAD PGIM AAA CLO Aggregate Duration ETF	0.03%
CLOO NYLI Investment Grade CLO ETF	0.59%

Frequently Asked Questions

Can I hold both CLOO and AAAD in my portfolio?

CLOO and AAAD have a correlation of 0.02, 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 AAAD?

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, CLOO or AAAD?

AAAD is cheaper with a 0.19% expense ratio, compared with 0.25% for CLOO.

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

CLOO has the higher dividend yield at 0.59%, compared with 0.03% for AAAD.

What is the main difference between CLOO and AAAD?

They also come from different issuers: New York Life Investment Management and PGIM. Their fees differ too: 0.25% for CLOO and 0.19% for AAAD.