PAAA vs. ENIAX
Compare and contrast key facts about PGIM AAA CLO ETF (PAAA) and SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX).
PAAA is an actively managed fund by PGIM. It was launched on Jul 19, 2023. ENIAX is managed by SEI. It was launched on Dec 13, 2006.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PAAA or ENIAX.
Key characteristics
| PAAA | ENIAX | |
|---|---|---|
| YTD Return | 5.36% | 6.49% |
| 1Y Return | 8.06% | 9.50% |
| Sharpe Ratio | 10.84 | 9.25 |
| Daily Std Dev | 0.75% | 1.03% |
| Max Drawdown | -0.27% | -30.62% |
| Current Drawdown | -0.00% | 0.00% |
Correlation
The correlation between PAAA and ENIAX is 0.05, 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.
Performance
PAAA vs. ENIAX - Performance Comparison
In the year-to-date period, PAAA achieves a 5.36% return, which is significantly lower than ENIAX's 6.49% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PAAA vs. ENIAX - Expense Ratio Comparison
PAAA has a 0.19% expense ratio, which is lower than ENIAX's 0.23% 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%.
Risk-Adjusted Performance
PAAA vs. ENIAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM AAA CLO ETF (PAAA) and SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX). 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.
Dividends
PAAA vs. ENIAX - Dividend Comparison
PAAA's dividend yield for the trailing twelve months is around 6.29%, less than ENIAX's 7.22% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAAA PGIM AAA CLO ETF | 6.29% | 2.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ENIAX SEI Institutional Investments Trust Opportunistic Income Fund | 7.22% | 7.09% | 4.07% | 2.66% | 4.05% | 4.32% | 3.96% | 3.02% | 2.75% | 2.54% | 2.56% | 1.69% |
Drawdowns
PAAA vs. ENIAX - Drawdown Comparison
The maximum PAAA drawdown since its inception was -0.27%, smaller than the maximum ENIAX drawdown of -30.62%. Use the drawdown chart below to compare losses from any high point for PAAA and ENIAX. For additional features, visit the drawdowns tool.
Volatility
PAAA vs. ENIAX - Volatility Comparison
The current volatility for PGIM AAA CLO ETF (PAAA) is 0.12%, while SEI Institutional Investments Trust Opportunistic Income Fund (ENIAX) has a volatility of 0.27%. This indicates that PAAA experiences smaller price fluctuations and is considered to be less risky than ENIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.