PAAA vs. CLOA

The year-to-date returns for both stocks are quite close, with PAAA having a 2.03% return and CLOA slightly lower at 2.02%.

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PAAA has a 0.19% expense ratio, which is lower than CLOA's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

This table presents a comparison of risk-adjusted performance metrics for PGIM AAA CLO ETF (PAAA) and BlackRock AAA CLO ETF (CLOA). 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.

The current PAAA Sharpe Ratio is 4.35, which is comparable to the CLOA Sharpe Ratio of 3.46. The chart below compares the historical Sharpe Ratios of PAAA and CLOA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

PAAA's dividend yield for the trailing twelve months is around 5.35%, less than CLOA's 5.90% yield.

The maximum PAAA drawdown since its inception was -1.04%, smaller than the maximum CLOA drawdown of -1.34%. Use the drawdown chart below to compare losses from any high point for PAAA and CLOA.

PGIM AAA CLO ETF (PAAA) has a higher volatility of 0.32% compared to BlackRock AAA CLO ETF (CLOA) at 0.30%. This indicates that PAAA's price experiences larger fluctuations and is considered to be riskier than CLOA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.