PCMM vs. AAAC

Last updated Aug 1, 2026

PCMM (BondBloxx Private Credit CLO ETF) and AAAC (Columbia AAA CLO ETF) are both CLO funds. Both are actively managed. Their -0.01 correlation means they have often moved in opposite directions in the past. 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 2.53% return, which is significantly lower than AAAC's 2.81% return.

PCMM

• 1D: 0.06%
• 1M: -0.12%
• 6M: 2.01%
• YTD: 2.53%
• 1Y: 4.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.57%

AAAC

• 1D: 0.05%
• 1M: 0.35%
• 6M: 2.18%
• YTD: 2.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAAC Columbia AAA CLO ETF	$18.84K	$4.60M	$1.56M
PCMM BondBloxx Private Credit CLO ETF	$1.10M	$1.07M	$1.63M

PCMM vs. AAAC - Yearly Performance Comparison

	2026 (YTD)	2025
PCMM BondBloxx Private Credit CLO ETF	2.53%	0.77%
AAAC Columbia AAA CLO ETF	2.81%	0.15%

Correlation

The correlation between PCMM and AAAC is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	-0.01

Return for Risk

PCMM vs. AAAC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PCMM

PCMM Risk / Return Rank: 65
PCMM Sharpe Ratio Rank: 64
PCMM Sortino Ratio Rank: 63
PCMM Omega Ratio Rank: 66
PCMM Calmar Ratio Rank: 65
PCMM Martin Ratio Rank: 67

AAAC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PCMM	AAAC	Difference
Sharpe ratio: Return per unit of total volatility	1.48	—	—
Sortino ratio: Return per unit of downside risk	2.11	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	2.27	—	—
Martin ratio: Return relative to average drawdown	8.10	—	—

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	-0.12%	0.00%	-0.12%
Average Drawdown Average peak-to-trough decline	-0.41%	-0.03%	-0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.60%	—	—

Volatility

Volatility by Period

	PCMM	AAAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.91%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.32%	0.82%	+2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.80%	0.82%	+3.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.80%	0.82%	+3.98%

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 6.47%, more than AAAC's 2.65% yield.

Position	TTM	2025
AAAC Columbia AAA CLO ETF	2.65%	0.03%
PCMM BondBloxx Private Credit CLO ETF	5.84%	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 5.84%, compared with 2.65% for AAAC.

What is the main difference between PCMM and AAAC?

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