HSRT vs. PAAA

Last updated Jun 6, 2026

HSRT (Hartford AAA CLO ETF) and PAAA (PGIM AAA CLO ETF) are both CLO funds. HSRT is passively managed, while PAAA is actively managed. At a 0.00 correlation, their price movements are largely independent. HSRT charges 0.24%/yr vs 0.19%/yr for PAAA.

Performance

HSRT vs. PAAA - Performance Comparison

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

Returns By Period

HSRT

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

PAAA

• 1D: 0.06%
• 1M: 0.40%
• YTD: 2.08%
• 6M: 2.50%
• 1Y: 5.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HSRT vs. PAAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HSRT Hartford AAA CLO ETF	0.00%	0.60%	6.44%	4.03%
PAAA PGIM AAA CLO ETF	2.08%	5.37%	7.47%	3.83%

Correlation

The correlation between HSRT and PAAA is 0.00, 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 Jul 27, 2023	0.00

Return for Risk

HSRT vs. PAAA — Risk / Return Rank

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

PAAA

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

HSRT vs. PAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford AAA CLO ETF (HSRT) 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.

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

Sharpe Ratios by Period

	HSRT	PAAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	10.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	6.79	—

Drawdowns

Drawdown Indicators

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

Volatility

Volatility by Period

	HSRT	PAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	0.49%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	0.98%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	0.98%	—

HSRT vs. PAAA - Expense Ratio Comparison

HSRT has a 0.24% 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%.

Dividends

HSRT vs. PAAA - Dividend Comparison

HSRT has not paid dividends to shareholders, while PAAA's dividend yield for the trailing twelve months is around 4.88%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HSRT Hartford AAA CLO ETF	0.00%	1.29%	6.37%	3.98%	2.67%	2.23%	2.88%	3.50%	1.62%
PAAA PGIM AAA CLO ETF	4.88%	5.12%	5.88%	2.76%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HSRT and PAAA in my portfolio?

HSRT and PAAA have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HSRT 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, HSRT or PAAA?

PAAA is cheaper with a 0.19% expense ratio, compared with 0.24% for HSRT.

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

PAAA has the higher dividend yield at 4.88%, compared with 0.00% for HSRT.

What is the main difference between HSRT and PAAA?

They also come from different issuers: Hartford and PGIM. Their fees differ too: 0.24% for HSRT and 0.19% for PAAA.