PCMM vs. AAAC

Last updated Jun 4, 2026

PCMM (BondBloxx Private Credit CLO ETF) and AAAC (Columbia AAA CLO ETF) are both CLO funds. Both are actively managed. At a 0.01 correlation, their price movements are largely independent. PCMM charges 0.68%/yr vs 0.20%/yr for AAAC.

Performance

PCMM vs. AAAC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx Private Credit CLO ETF (PCMM) and Columbia AAA CLO ETF (AAAC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCMM achieves a 1.15% return, which is significantly lower than AAAC's 2.06% return.

PCMM

• 1D: 0.06%
• 1M: 0.49%
• YTD: 1.15%
• 6M: 1.71%
• 1Y: 4.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAAC

• 1D: 0.00%
• 1M: 0.35%
• YTD: 2.06%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PCMM vs. AAAC - Yearly Performance Comparison

	2026 (YTD)	2025
PCMM BondBloxx Private Credit CLO ETF	1.15%	0.59%
AAAC Columbia AAA CLO ETF	2.06%	0.20%

Correlation

The correlation between PCMM and AAAC is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.01

Return for Risk

PCMM vs. AAAC — Risk / Return Rank

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

PCMM

PCMM Risk / Return Rank: 36
PCMM Sharpe Ratio Rank: 32
PCMM Sortino Ratio Rank: 31
PCMM Omega Ratio Rank: 32
PCMM Calmar Ratio Rank: 42
PCMM Martin Ratio Rank: 44

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.

PCMM vs. AAAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx Private Credit CLO ETF (PCMM) and Columbia AAA CLO ETF (AAAC). 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.

	PCMM	AAAC	Difference
Sharpe ratio: Return per unit of total volatility	1.16	—	—
Sortino ratio: Return per unit of downside risk	1.66	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	2.07	—	—
Martin ratio: Return relative to average drawdown	7.21	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PCMM	AAAC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	5.56	-4.49

Drawdowns

PCMM vs. AAAC - Drawdown Comparison

The maximum PCMM drawdown since its inception was -4.32%, which is greater than AAAC's maximum drawdown of -0.55%. Use the drawdown chart below to compare losses from any high point for PCMM and AAAC.

Drawdown Indicators

	PCMM	AAAC	Difference
Max Drawdown Largest peak-to-trough decline	-4.32%	-0.55%	-3.77%
Max Drawdown (1Y) Largest decline over 1 year	-2.16%	—	—
Current Drawdown Current decline from peak	-0.41%	0.00%	-0.41%
Average Drawdown Average peak-to-trough decline	-0.43%	-0.04%	-0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	—	—

Volatility

Volatility by Period

	PCMM	AAAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.64%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.94%	0.89%	+3.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.97%	0.89%	+4.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.97%	0.89%	+4.08%

PCMM vs. AAAC - Expense Ratio Comparison

PCMM has a 0.68% expense ratio, which is higher than AAAC's 0.20% expense ratio.

Dividends

PCMM vs. AAAC - Dividend Comparison

PCMM's dividend yield for the trailing twelve months is around 6.62%, more than AAAC's 2.27% yield.

Position	TTM	2025
AAAC Columbia AAA CLO ETF	2.27%	0.03%
PCMM BondBloxx Private Credit CLO ETF	6.62%	7.02%

Frequently Asked Questions

Can I hold both PCMM and AAAC in my portfolio?

PCMM and AAAC have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PCMM or AAAC?

On fees, AAAC is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PCMM or AAAC?

AAAC is cheaper with a 0.20% expense ratio, compared with 0.68% for PCMM.

Which ETF pays a higher dividend yield, PCMM or AAAC?

PCMM has the higher dividend yield at 6.62%, compared with 2.27% for AAAC.

What is the main difference between PCMM and AAAC?

They also come from different issuers: BondBloxx and Columbia Threadneedle. Their fees differ too: 0.68% for PCMM and 0.20% for AAAC.