DSCO vs. PAAA

Last updated Jul 17, 2026

DSCO (DoubleLine Securitized Credit ETF) and PAAA (PGIM AAA CLO ETF) are both exchange-traded funds - DSCO is a Mortgage Backed Securities fund actively managed by DoubleLine, while PAAA is a CLO fund actively managed by PGIM. Both are actively managed. At a correlation of -0.02, they often move in opposite directions. DSCO charges 0.50%/yr vs 0.19%/yr for PAAA.

Performance

DSCO vs. PAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Securitized Credit ETF (DSCO) and PGIM AAA CLO ETF (PAAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DSCO

• 1D: -0.18%
• 1M: 0.23%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PAAA

• 1D: 0.04%
• 1M: 0.38%
• 6M: 2.25%
• YTD: 2.55%
• 1Y: 5.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DSCO vs. PAAA - Yearly Performance Comparison

	2026 (YTD)
DSCO DoubleLine Securitized Credit ETF	1.34%
PAAA PGIM AAA CLO ETF	1.99%

Correlation

The correlation between DSCO and PAAA 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 Feb 2, 2026	-0.02

Return for Risk

DSCO vs. PAAA — Risk / Return Rank

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

DSCO

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

PAAA

PAAA Risk / Return Rank: 99
PAAA Sharpe Ratio Rank: 100
PAAA Sortino Ratio Rank: 99
PAAA Omega Ratio Rank: 99
PAAA Calmar Ratio Rank: 99
PAAA Martin Ratio Rank: 99

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.

DSCO vs. PAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Securitized Credit ETF (DSCO) 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.

	DSCO	PAAA	Difference
Sharpe ratio: Return per unit of total volatility	—	10.78	—
Sortino ratio: Return per unit of downside risk	—	20.99	—
Omega ratio: Gain probability vs. loss probability	—	6.60	—
Calmar ratio: Return relative to maximum drawdown	—	28.96	—
Martin ratio: Return relative to average drawdown	—	179.44	—

Drawdowns

DSCO vs. PAAA - Drawdown Comparison

The maximum DSCO drawdown since its inception was -1.64%, which is greater than PAAA's maximum drawdown of -1.04%. Use the drawdown chart below to compare losses from any high point for DSCO and PAAA.

Drawdown Indicators

	DSCO	PAAA	Difference
Max Drawdown Largest peak-to-trough decline	-1.64%	-1.04%	-0.60%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.17%	—
Current Drawdown Current decline from peak	-0.18%	0.00%	-0.18%
Average Drawdown Average peak-to-trough decline	-0.59%	-0.02%	-0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.03%	—

Volatility

Volatility by Period

	DSCO	PAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.43%	0.47%	+1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.43%	0.96%	+1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.43%	0.96%	+1.47%

DSCO vs. PAAA - Expense Ratio Comparison

DSCO has a 0.50% expense ratio, which is higher than PAAA's 0.19% expense ratio.

Dividends

DSCO vs. PAAA - Dividend Comparison

DSCO's dividend yield for the trailing twelve months is around 2.26%, less than PAAA's 4.84% yield.

Position	TTM	2025	2024	2023
DSCO DoubleLine Securitized Credit ETF	2.26%	0.00%	0.00%	0.00%
PAAA PGIM AAA CLO ETF	4.84%	5.12%	5.88%	2.76%

Frequently Asked Questions

Can I hold both DSCO and PAAA in my portfolio?

DSCO and PAAA 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, DSCO or PAAA?

On fees, PAAA 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, DSCO or PAAA?

PAAA is cheaper with a 0.19% expense ratio, compared with 0.50% for DSCO.

Which ETF pays a higher dividend yield, DSCO or PAAA?

PAAA has the higher dividend yield at 4.84%, compared with 2.26% for DSCO.

What is the main difference between DSCO and PAAA?

DSCO is categorized as Mortgage Backed Securities, while PAAA is CLO. They also come from different issuers: DoubleLine and PGIM. Their fees differ too: 0.50% for DSCO and 0.19% for PAAA.