PAAA vs. ARLP

Last updated Apr 1, 2026

Compare and contrast key facts about PGIM AAA CLO ETF (PAAA) and Alliance Resource Partners, L.P. (ARLP).

PAAA is an actively managed fund by PGIM. It was launched on Jul 19, 2023.

Performance

PAAA vs. ARLP - Performance Comparison

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

PAAA vs. ARLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PAAA PGIM AAA CLO ETF	0.99%	5.37%	7.47%	3.83%
ARLP Alliance Resource Partners, L.P.	22.01%	-2.45%	39.91%	18.55%

Returns By Period

In the year-to-date period, PAAA achieves a 0.99% return, which is significantly lower than ARLP's 22.01% return.

PAAA

• 1D: 0.04%
• 1M: 0.20%
• YTD: 0.99%
• 6M: 2.21%
• 1Y: 5.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARLP

• 1D: -1.78%
• 1M: 4.38%
• YTD: 22.01%
• 6M: 14.85%
• 1Y: 11.83%
• 3Y*: 24.53%
• 5Y*: 50.53%
• 10Y*: 20.24%

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

Return for Risk

PAAA vs. ARLP — Risk / Return Rank

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

PAAA

PAAA Risk / Return Rank: 98
PAAA Sharpe Ratio Rank: 98
PAAA Sortino Ratio Rank: 98
PAAA Omega Ratio Rank: 99
PAAA Calmar Ratio Rank: 98
PAAA Martin Ratio Rank: 99

ARLP

ARLP Risk / Return Rank: 57
ARLP Sharpe Ratio Rank: 61
ARLP Sortino Ratio Rank: 53
ARLP Omega Ratio Rank: 52
ARLP Calmar Ratio Rank: 61
ARLP Martin Ratio Rank: 60

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.

PAAA vs. ARLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM AAA CLO ETF (PAAA) and Alliance Resource Partners, L.P. (ARLP). 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.

	PAAA	ARLP	Difference
Sharpe ratio Return per unit of total volatility	4.03	0.51	+3.52
Sortino ratio Return per unit of downside risk	4.87	0.87	+4.01
Omega ratio Gain probability vs. loss probability	2.94	1.11	+1.83
Calmar ratio Return relative to maximum drawdown	5.26	0.82	+4.45
Martin ratio Return relative to average drawdown	43.72	1.75	+41.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAAA vs. ARLP - Sharpe Ratio Comparison

The current PAAA Sharpe Ratio is 4.03, which is higher than the ARLP Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of PAAA and ARLP, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PAAA	ARLP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.03	0.51	+3.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.47	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.64	0.38	+6.25

Correlation

The correlation between PAAA and ARLP is 0.13, 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.

Dividends

PAAA vs. ARLP - Dividend Comparison

PAAA's dividend yield for the trailing twelve months is around 5.48%, less than ARLP's 9.04% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAAA PGIM AAA CLO ETF	5.48%	5.12%	5.88%	2.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ARLP Alliance Resource Partners, L.P.	9.04%	11.19%	10.65%	13.22%	7.38%	3.16%	8.93%	19.82%	11.94%	9.54%	8.85%	19.74%

Drawdowns

PAAA vs. ARLP - Drawdown Comparison

The maximum PAAA drawdown since its inception was -1.04%, smaller than the maximum ARLP drawdown of -90.52%. Use the drawdown chart below to compare losses from any high point for PAAA and ARLP.

Drawdown Indicators

	PAAA	ARLP	Difference
Max Drawdown Largest peak-to-trough decline	-1.04%	-90.52%	+89.48%
Max Drawdown (1Y) Largest decline over 1 year	-1.04%	-17.63%	+16.59%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.13%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-85.26%	—
Current Drawdown Current decline from peak	0.00%	-4.62%	+4.62%
Average Drawdown Average peak-to-trough decline	-0.02%	-24.43%	+24.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.12%	8.25%	-8.13%

Volatility

PAAA vs. ARLP - Volatility Comparison

The current volatility for PGIM AAA CLO ETF (PAAA) is 0.27%, while Alliance Resource Partners, L.P. (ARLP) has a volatility of 7.15%. This indicates that PAAA experiences smaller price fluctuations and is considered to be less risky than ARLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAAA	ARLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.27%	7.15%	-6.88%
Volatility (6M) Calculated over the trailing 6-month period	0.39%	16.05%	-15.66%
Volatility (1Y) Calculated over the trailing 1-year period	1.34%	23.61%	-22.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.00%	34.67%	-33.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.00%	50.47%	-49.47%