EVLN vs. PAAA
Compare and contrast key facts about Eaton Vance Floating-Rate ETF (EVLN) and PGIM AAA CLO ETF (PAAA).
EVLN and PAAA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EVLN is an actively managed fund by Eaton Vance. It was launched on Feb 6, 2024. 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: EVLN or PAAA.
Correlation
The correlation between EVLN and PAAA is 0.08, 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
EVLN vs. PAAA - Performance Comparison
Key characteristics
EVLN:
1.70
PAAA:
4.29
EVLN:
2.34
PAAA:
5.21
EVLN:
1.49
PAAA:
2.87
EVLN:
1.77
PAAA:
5.61
EVLN:
11.66
PAAA:
48.56
EVLN:
0.42%
PAAA:
0.12%
EVLN:
2.89%
PAAA:
1.36%
EVLN:
-2.78%
PAAA:
-1.04%
EVLN:
-1.63%
PAAA:
-0.35%
Returns By Period
In the year-to-date period, EVLN achieves a -0.98% return, which is significantly lower than PAAA's 0.73% return.
EVLN
-0.98%
-1.15%
0.96%
4.85%
N/A
N/A
PAAA
0.73%
-0.16%
2.20%
5.87%
N/A
N/A
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EVLN vs. PAAA - Expense Ratio Comparison
EVLN has a 0.60% expense ratio, which is higher than PAAA's 0.19% expense ratio.
Risk-Adjusted Performance
EVLN vs. PAAA — Risk-Adjusted Performance Rank
EVLN
PAAA
EVLN vs. PAAA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Floating-Rate ETF (EVLN) 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
EVLN vs. PAAA - Dividend Comparison
EVLN's dividend yield for the trailing twelve months is around 8.53%, more than PAAA's 5.49% yield.
| TTM | 2024 | 2023 | |
|---|---|---|---|
EVLN Eaton Vance Floating-Rate ETF | 8.53% | 6.41% | 0.00% |
PAAA PGIM AAA CLO ETF | 5.49% | 5.88% | 2.76% |
Drawdowns
EVLN vs. PAAA - Drawdown Comparison
The maximum EVLN drawdown since its inception was -2.78%, which is greater than PAAA's maximum drawdown of -1.04%. Use the drawdown chart below to compare losses from any high point for EVLN and PAAA. For additional features, visit the drawdowns tool.
Volatility
EVLN vs. PAAA - Volatility Comparison
Eaton Vance Floating-Rate ETF (EVLN) has a higher volatility of 2.39% compared to PGIM AAA CLO ETF (PAAA) at 1.25%. This indicates that EVLN'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.