RISR vs. PAAA

Last updated Apr 2, 2026

Compare and contrast key facts about FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) and PGIM AAA CLO ETF (PAAA).

RISR and PAAA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RISR is an actively managed fund by FolioBeyond. It was launched on Sep 30, 2021. PAAA is an actively managed fund by PGIM. It was launched on Jul 19, 2023.

Performance

RISR vs. PAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) and PGIM AAA CLO ETF (PAAA). The values are adjusted to include any dividend payments, if applicable.

RISR vs. PAAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF	1.80%	4.63%	24.20%	0.46%
PAAA PGIM AAA CLO ETF	1.03%	5.37%	7.47%	3.83%

Returns By Period

In the year-to-date period, RISR achieves a 1.80% return, which is significantly higher than PAAA's 1.03% return.

RISR

• 1D: -0.03%
• 1M: 1.76%
• YTD: 1.80%
• 6M: 4.05%
• 1Y: 6.34%
• 3Y*: 12.12%
• 5Y*: —
• 10Y*: —

PAAA

• 1D: 0.04%
• 1M: 0.24%
• YTD: 1.03%
• 6M: 2.23%
• 1Y: 5.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RISR vs. PAAA - Expense Ratio Comparison

RISR has a 1.13% expense ratio, which is higher than PAAA's 0.19% expense ratio.

RISR

FolioBeyond Alternative Income and Interest Rate Hedge ETF

PAAA

PGIM AAA CLO ETF

Return for Risk

RISR vs. PAAA — Risk / Return Rank

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

RISR

RISR Risk / Return Rank: 55
RISR Sharpe Ratio Rank: 53
RISR Sortino Ratio Rank: 52
RISR Omega Ratio Rank: 46
RISR Calmar Ratio Rank: 78
RISR Martin Ratio Rank: 47

PAAA

PAAA Risk / Return Rank: 98
PAAA Sharpe Ratio Rank: 98
PAAA Sortino Ratio Rank: 98
PAAA Omega Ratio Rank: 99
PAAA Calmar Ratio Rank: 97
PAAA Martin Ratio Rank: 99

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.

RISR vs. PAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) and PGIM AAA CLO ETF (PAAA). 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.

	RISR	PAAA	Difference
Sharpe ratio Return per unit of total volatility	0.99	4.00	-3.01
Sortino ratio Return per unit of downside risk	1.44	4.83	-3.39
Omega ratio Gain probability vs. loss probability	1.19	2.92	-1.73
Calmar ratio Return relative to maximum drawdown	2.20	5.20	-3.01
Martin ratio Return relative to average drawdown	4.70	43.22	-38.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RISR vs. PAAA - Sharpe Ratio Comparison

The current RISR Sharpe Ratio is 0.99, which is lower than the PAAA Sharpe Ratio of 4.00. The chart below compares the historical Sharpe Ratios of RISR and PAAA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	RISR	PAAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	4.00	-3.01
Sharpe Ratio (All Time) Calculated using the full available price history	1.25	6.65	-5.40

Correlation

The correlation between RISR and PAAA is -0.03. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

RISR vs. PAAA - Dividend Comparison

RISR's dividend yield for the trailing twelve months is around 5.93%, more than PAAA's 5.03% yield.

	TTM	2025	2024	2023	2022	2021
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF	5.93%	5.95%	5.67%	7.96%	4.26%	0.30%
PAAA PGIM AAA CLO ETF	5.03%	5.12%	5.88%	2.76%	0.00%	0.00%

Drawdowns

RISR vs. PAAA - Drawdown Comparison

The maximum RISR drawdown since its inception was -14.31%, which is greater than PAAA's maximum drawdown of -1.04%. Use the drawdown chart below to compare losses from any high point for RISR and PAAA.

Drawdown Indicators

	RISR	PAAA	Difference
Max Drawdown Largest peak-to-trough decline	-14.31%	-1.04%	-13.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.61%	-1.04%	-1.57%
Current Drawdown Current decline from peak	-0.36%	0.00%	-0.36%
Average Drawdown Average peak-to-trough decline	-2.25%	-0.02%	-2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	0.12%	+1.10%

Volatility

RISR vs. PAAA - Volatility Comparison

FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) has a higher volatility of 2.03% compared to PGIM AAA CLO ETF (PAAA) at 0.21%. This indicates that RISR's price experiences larger fluctuations and is considered to be riskier than PAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RISR	PAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	0.21%	+1.82%
Volatility (6M) Calculated over the trailing 6-month period	4.02%	0.39%	+3.63%
Volatility (1Y) Calculated over the trailing 1-year period	6.45%	1.33%	+5.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.04%	1.00%	+11.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.04%	1.00%	+11.04%