MDAA vs. AAA

Last updated Jun 4, 2026

MDAA (Myriad Dynamic Asset Allocation ETF) and AAA (AAF First Priority CLO Bond ETF) are both exchange-traded funds - MDAA is a Diversified Portfolio fund actively managed by Myriad, while AAA is a CLO fund actively managed by Alternative Access Funds LLC. Both are actively managed. At a 0.12 correlation, their price movements are largely independent. MDAA charges 0.97%/yr vs 0.25%/yr for AAA.

Performance

MDAA vs. AAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Myriad Dynamic Asset Allocation ETF (MDAA) and AAF First Priority CLO Bond ETF (AAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MDAA achieves a 22.13% return, which is significantly higher than AAA's 1.86% return.

MDAA

• 1D: -1.11%
• 1M: 8.24%
• YTD: 22.13%
• 6M: 22.52%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAA

• 1D: -0.22%
• 1M: 0.67%
• YTD: 1.86%
• 6M: 2.19%
• 1Y: 5.39%
• 3Y*: 6.50%
• 5Y*: 4.64%
• 10Y*: —

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

MDAA vs. AAA - Yearly Performance Comparison

	2026 (YTD)	2025
MDAA Myriad Dynamic Asset Allocation ETF	22.13%	-0.27%
AAA AAF First Priority CLO Bond ETF	1.86%	1.12%

Correlation

The correlation between MDAA and AAA is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 6, 2025	0.12

Return for Risk

MDAA vs. AAA — Risk / Return Rank

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

AAA

AAA Risk / Return Rank: 85
AAA Sharpe Ratio Rank: 71
AAA Sortino Ratio Rank: 87
AAA Omega Ratio Rank: 77
AAA Calmar Ratio Rank: 96
AAA Martin Ratio Rank: 94

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.

MDAA vs. AAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Myriad Dynamic Asset Allocation ETF (MDAA) and AAF 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.

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

Sharpe Ratios by Period

	MDAA	AAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.36	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	2.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.47	1.93	-0.47

Drawdowns

MDAA vs. AAA - Drawdown Comparison

The maximum MDAA drawdown since its inception was -14.59%, which is greater than AAA's maximum drawdown of -2.63%. Use the drawdown chart below to compare losses from any high point for MDAA and AAA.

Drawdown Indicators

	MDAA	AAA	Difference
Max Drawdown Largest peak-to-trough decline	-14.59%	-2.63%	-11.96%
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	-1.11%	-0.22%	-0.89%
Average Drawdown Average peak-to-trough decline	-2.93%	-0.30%	-2.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.19%	—

Volatility

Volatility by Period

	MDAA	AAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.74%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.76%	—
Volatility (1Y) Calculated over the trailing 1-year period	23.89%	2.30%	+21.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.89%	2.28%	+21.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.89%	2.15%	+21.74%

MDAA vs. AAA - Expense Ratio Comparison

MDAA has a 0.97% expense ratio, which is higher than AAA's 0.25% expense ratio.

Dividends

MDAA vs. AAA - Dividend Comparison

MDAA's dividend yield for the trailing twelve months is around 0.38%, less than AAA's 4.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
AAA AAF First Priority CLO Bond ETF	4.90%	5.11%	6.17%	6.11%	2.78%	1.06%	0.32%
MDAA Myriad Dynamic Asset Allocation ETF	0.38%	0.46%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MDAA and AAA in my portfolio?

MDAA and AAA have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MDAA or AAA?

On fees, AAA is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MDAA or AAA?

AAA is cheaper with a 0.25% expense ratio, compared with 0.97% for MDAA.

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

AAA has the higher dividend yield at 4.90%, compared with 0.38% for MDAA.

What is the main difference between MDAA and AAA?

MDAA is categorized as Diversified Portfolio, while AAA is CLO. They also come from different issuers: Myriad and Alternative Access Funds LLC. Their fees differ too: 0.97% for MDAA and 0.25% for AAA.