OCTU vs. AAA

Last updated Jun 4, 2026

OCTU (AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF) and AAA (AAF First Priority CLO Bond ETF) are both exchange-traded funds - OCTU is a Defined Outcome fund actively managed by AllianzIM, while AAA is a CLO fund actively managed by Alternative Access Funds LLC. Both are actively managed. Over the past year, OCTU returned 20.19% vs 5.39% for AAA. At a 0.16 correlation, their price movements are largely independent. OCTU charges 0.74%/yr vs 0.25%/yr for AAA.

Performance

OCTU vs. AAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF (OCTU) 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, OCTU achieves a 7.96% return, which is significantly higher than AAA's 1.86% return.

OCTU

• 1D: -0.43%
• 1M: 4.27%
• YTD: 7.96%
• 6M: 7.66%
• 1Y: 20.19%
• 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)

OCTU vs. AAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OCTU AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF	7.96%	12.37%	1.87%
AAA AAF First Priority CLO Bond ETF	1.86%	4.92%	1.54%

Correlation

The correlation between OCTU and AAA is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (All Time) Calculated using the full available price history since Oct 2, 2024	0.16

Return for Risk

OCTU vs. AAA — Risk / Return Rank

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

OCTU

OCTU Risk / Return Rank: 72
OCTU Sharpe Ratio Rank: 73
OCTU Sortino Ratio Rank: 74
OCTU Omega Ratio Rank: 69
OCTU Calmar Ratio Rank: 70
OCTU Martin Ratio Rank: 76

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.

OCTU vs. AAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF (OCTU) 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.

	OCTU	AAA	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.36	-0.02
Sortino ratio: Return per unit of downside risk	3.30	4.06	-0.76
Omega ratio: Gain probability vs. loss probability	1.41	1.47	-0.06
Calmar ratio: Return relative to maximum drawdown	3.42	8.98	-5.56
Martin ratio: Return relative to average drawdown	14.31	27.78	-13.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OCTU vs. AAA - Sharpe Ratio Comparison

The current OCTU Sharpe Ratio is 2.33, which is comparable to the AAA Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of OCTU and AAA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OCTU	AAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	2.36	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	2.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.31	1.93	-0.62

Drawdowns

OCTU vs. AAA - Drawdown Comparison

The maximum OCTU drawdown since its inception was -11.24%, which is greater than AAA's maximum drawdown of -2.63%. Use the drawdown chart below to compare losses from any high point for OCTU and AAA.

Drawdown Indicators

	OCTU	AAA	Difference
Max Drawdown Largest peak-to-trough decline	-11.24%	-2.63%	-8.61%
Max Drawdown (1Y) Largest decline over 1 year	-5.92%	-0.60%	-5.32%
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	-0.43%	-0.22%	-0.21%
Average Drawdown Average peak-to-trough decline	-1.68%	-0.30%	-1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.41%	0.19%	+1.22%

Volatility

OCTU vs. AAA - Volatility Comparison

AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF (OCTU) has a higher volatility of 2.44% compared to AAF First Priority CLO Bond ETF (AAA) at 0.74%. This indicates that OCTU's price experiences larger fluctuations and is considered to be riskier than AAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCTU	AAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.44%	0.74%	+1.70%
Volatility (6M) Calculated over the trailing 6-month period	6.22%	1.76%	+4.46%
Volatility (1Y) Calculated over the trailing 1-year period	8.69%	2.30%	+6.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.39%	2.28%	+8.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.39%	2.15%	+8.24%

OCTU vs. AAA - Expense Ratio Comparison

OCTU has a 0.74% expense ratio, which is higher than AAA's 0.25% expense ratio.

Dividends

OCTU vs. AAA - Dividend Comparison

OCTU has not paid dividends to shareholders, while AAA's dividend yield for the trailing twelve months is around 4.90%.

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%
OCTU AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OCTU and AAA in my portfolio?

OCTU and AAA have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OCTU or AAA?

OCTU has higher volatility (2.44%) compared to AAA (0.74%). In terms of maximum drawdown, OCTU dropped -11.24% vs AAA's -2.63%.

Which ETF is better, OCTU or AAA?

On 1-year performance, OCTU leads with 20.19% vs 5.39% for AAA. On fees, AAA is cheaper at 0.25% per year. On volatility, AAA has been the lower-risk option at 0.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OCTU or AAA?

Over the 1-year period, OCTU has performed better with a 20.19% return vs 5.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OCTU or AAA?

AAA is cheaper with a 0.25% expense ratio, compared with 0.74% for OCTU.

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

AAA has the higher dividend yield at 4.90%, compared with 0.00% for OCTU.

What is the main difference between OCTU and AAA?

OCTU is categorized as Defined Outcome, while AAA is CLO. They also come from different issuers: AllianzIM and Alternative Access Funds LLC. Their fees differ too: 0.74% for OCTU and 0.25% for AAA.

Which has better risk-adjusted returns?

AAA currently has the higher Sharpe Ratio (2.36 vs 2.33), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.