SBND vs. AAAC

Last updated Aug 2, 2026

SBND (Columbia Short Duration Bond ETF) and AAAC (Columbia AAA CLO ETF) are both exchange-traded funds - SBND is a Short-Term Bond fund tracking the Bloomberg Beta Advantage Short Term Bond (-300%), while AAAC is a CLO fund actively managed by Columbia. SBND is passively managed, while AAAC is actively managed. Their 0.23 correlation means their historical movements had little consistent relationship. SBND charges 0.25%/yr vs 0.20%/yr for AAAC.

Performance

SBND vs. AAAC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Short Duration Bond ETF (SBND) 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, SBND achieves a 0.86% return, which is significantly lower than AAAC's 2.81% return.

SBND

• 1D: 0.03%
• 1M: -0.29%
• 6M: 0.46%
• YTD: 0.86%
• 1Y: 3.56%
• 3Y*: 5.86%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.40%

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
SBND Columbia Short Duration Bond ETF	$2.32M	$2.73M	$1.61M

SBND vs. AAAC - Yearly Performance Comparison

	2026 (YTD)	2025
SBND Columbia Short Duration Bond ETF	0.86%	0.60%
AAAC Columbia AAA CLO ETF	2.81%	0.15%

Correlation

The correlation between SBND and AAAC is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	0.23

Return for Risk

SBND vs. AAAC — Risk / Return Rank

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

SBND

SBND Risk / Return Rank: 70
SBND Sharpe Ratio Rank: 68
SBND Sortino Ratio Rank: 73
SBND Omega Ratio Rank: 73
SBND Calmar Ratio Rank: 62
SBND Martin Ratio Rank: 73

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.

SBND vs. AAAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Short Duration Bond ETF (SBND) 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.

	SBND	AAAC	Difference
Sharpe ratio: Return per unit of total volatility	1.56	—	—
Sortino ratio: Return per unit of downside risk	2.35	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.18	—	—
Martin ratio: Return relative to average drawdown	9.00	—	—

Drawdowns

SBND vs. AAAC - Drawdown Comparison

The maximum SBND drawdown since its inception was -10.78%, which is greater than AAAC's maximum drawdown of -0.55%. Use the drawdown chart below to compare losses from any high point for SBND and AAAC.

Drawdown Indicators

	SBND	AAAC	Difference
Max Drawdown Largest peak-to-trough decline	-10.78%	-0.55%	-10.23%
Max Drawdown (1Y) Largest decline over 1 year	-1.71%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.71%	—	—
Current Drawdown Current decline from peak	-0.40%	0.00%	-0.40%
Average Drawdown Average peak-to-trough decline	-2.78%	-0.03%	-2.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.41%	—	—

Volatility

Volatility by Period

	SBND	AAAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.75%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.40%	0.82%	+1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.57%	0.82%	+2.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.57%	0.82%	+2.75%

SBND vs. AAAC - Expense Ratio Comparison

SBND has a 0.25% 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

SBND vs. AAAC - Dividend Comparison

SBND's dividend yield for the trailing twelve months is around 4.52%, more than AAAC's 2.65% yield.

Position	TTM	2025	2024	2023	2022	2021
AAAC Columbia AAA CLO ETF	2.65%	0.03%	0.00%	0.00%	0.00%	0.00%
SBND Columbia Short Duration Bond ETF	4.10%	4.65%	4.58%	3.90%	2.80%	0.43%

Frequently Asked Questions

Can I hold both SBND and AAAC in my portfolio?

SBND and AAAC have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SBND 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, SBND or AAAC?

AAAC is cheaper with a 0.20% expense ratio, compared with 0.25% for SBND.

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

SBND has the higher dividend yield at 4.10%, compared with 2.65% for AAAC.

What is the main difference between SBND and AAAC?

SBND is categorized as Short-Term Bond, while AAAC is CLO. Their fees differ too: 0.25% for SBND and 0.20% for AAAC.