PSQA vs. AAAC

Last updated Aug 5, 2026

PSQA (Palmer Square CLO Senior Debt ETF) and AAAC (Columbia AAA CLO ETF) are both CLO funds. PSQA is passively managed, while AAAC is actively managed. Their -0.02 correlation means they have often moved in opposite directions in the past. PSQA charges 0.21%/yr vs 0.20%/yr for AAAC.

Performance

PSQA vs. AAAC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Palmer Square CLO Senior Debt ETF (PSQA) 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, PSQA achieves a 3.04% return, which is significantly higher than AAAC's 2.88% return.

PSQA

• 1D: 0.05%
• 1M: 1.03%
• 6M: 2.54%
• YTD: 3.04%
• 1Y: 5.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.67%

AAAC

• 1D: 0.05%
• 1M: 0.42%
• 6M: 2.25%
• YTD: 2.88%
• 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	$4.39M	$1.58M
PSQA Palmer Square CLO Senior Debt ETF	$6.52M	$3.41M	$2.55M

PSQA vs. AAAC - Yearly Performance Comparison

	2026 (YTD)	2025
PSQA Palmer Square CLO Senior Debt ETF	3.04%	0.27%
AAAC Columbia AAA CLO ETF	2.88%	0.15%

Correlation

The correlation between PSQA and AAAC is -0.02, 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	-0.02

Return for Risk

PSQA vs. AAAC — Risk / Return Rank

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

PSQA

PSQA Risk / Return Rank: 93
PSQA Sharpe Ratio Rank: 87
PSQA Sortino Ratio Rank: 92
PSQA Omega Ratio Rank: 94
PSQA Calmar Ratio Rank: 96
PSQA Martin Ratio Rank: 95

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.

PSQA vs. AAAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Palmer Square CLO Senior Debt ETF (PSQA) 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.

	PSQA	AAAC	Difference
Sharpe ratio: Return per unit of total volatility	2.27	—	—
Sortino ratio: Return per unit of downside risk	3.65	—	—
Omega ratio: Gain probability vs. loss probability	1.52	—	—
Calmar ratio: Return relative to maximum drawdown	7.18	—	—
Martin ratio: Return relative to average drawdown	23.22	—	—

Drawdowns

PSQA vs. AAAC - Drawdown Comparison

The maximum PSQA drawdown since its inception was -1.25%, which is greater than AAAC's maximum drawdown of -0.55%. Use the drawdown chart below to compare losses from any high point for PSQA and AAAC.

Drawdown Indicators

	PSQA	AAAC	Difference
Max Drawdown Largest peak-to-trough decline	-1.25%	-0.55%	-0.70%
Max Drawdown (1Y) Largest decline over 1 year	-0.78%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.16%	-0.03%	-0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.24%	—	—

Volatility

Volatility by Period

	PSQA	AAAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.10%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.47%	0.82%	+1.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.33%	0.82%	+1.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.33%	0.82%	+1.51%

PSQA vs. AAAC - Expense Ratio Comparison

PSQA has a 0.21% expense ratio, which is higher than AAAC's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PSQA vs. AAAC - Dividend Comparison

PSQA's dividend yield for the trailing twelve months is around 4.11%, more than AAAC's 2.87% yield.

Position	TTM	2025	2024
AAAC Columbia AAA CLO ETF	2.87%	0.03%	0.00%
PSQA Palmer Square CLO Senior Debt ETF	4.11%	4.48%	1.45%

Frequently Asked Questions

Can I hold both PSQA and AAAC in my portfolio?

PSQA and AAAC have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PSQA 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, PSQA or AAAC?

AAAC is cheaper with a 0.20% expense ratio, compared with 0.21% for PSQA.

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

PSQA has the higher dividend yield at 4.11%, compared with 2.87% for AAAC.

What is the main difference between PSQA and AAAC?

They also come from different issuers: Palmer Square and Columbia. Their fees differ too: 0.21% for PSQA and 0.20% for AAAC.