TRIO vs. AAA

Last updated Jun 4, 2026

TRIO (MC Trio Equity Buffered ETF) and AAA (AAF First Priority CLO Bond ETF) are both exchange-traded funds - TRIO is a Equity Hedged fund actively managed by ETF Architect, while AAA is a CLO fund actively managed by Alternative Access Funds LLC. Both are actively managed. Over the past year, TRIO returned 14.67% vs 5.39% for AAA. At a 0.12 correlation, their price movements are largely independent. TRIO charges 0.70%/yr vs 0.25%/yr for AAA.

Performance

TRIO vs. AAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MC Trio Equity Buffered ETF (TRIO) and AAF First Priority CLO Bond ETF (AAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRIO achieves a 5.46% return, which is significantly higher than AAA's 1.86% return.

TRIO

• 1D: -0.17%
• 1M: 1.73%
• YTD: 5.46%
• 6M: 6.09%
• 1Y: 14.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAA

• 1D: -0.22%
• 1M: 0.67%
• YTD: 1.86%
• 6M: 2.19%
• 1Y: 5.39%
• 3Y*: 6.50%
• 5Y*: 4.64%
• 10Y*: —

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

TRIO vs. AAA - Yearly Performance Comparison

	2026 (YTD)	2025
TRIO MC Trio Equity Buffered ETF	5.46%	11.99%
AAA AAF First Priority CLO Bond ETF	1.86%	3.87%

Correlation

The correlation between TRIO and AAA is 0.07, 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 (1Y) Calculated over the trailing 1-year period	0.07
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	0.12

Return for Risk

TRIO vs. AAA — Risk / Return Rank

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

TRIO

TRIO Risk / Return Rank: 77
TRIO Sharpe Ratio Rank: 75
TRIO Sortino Ratio Rank: 80
TRIO Omega Ratio Rank: 81
TRIO Calmar Ratio Rank: 67
TRIO Martin Ratio Rank: 83

AAA

AAA Risk / Return Rank: 85
AAA Sharpe Ratio Rank: 71
AAA Sortino Ratio Rank: 87
AAA Omega Ratio Rank: 77
AAA Calmar Ratio Rank: 96
AAA Martin Ratio Rank: 94

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.

TRIO vs. AAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MC Trio Equity Buffered ETF (TRIO) and AAF First Priority CLO Bond ETF (AAA). 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.

	TRIO	AAA	Difference
Sharpe ratio Return per unit of total volatility	2.40	2.36	+0.05
Sortino ratio Return per unit of downside risk	3.54	4.06	-0.52
Omega ratio Gain probability vs. loss probability	1.48	1.47	+0.01
Calmar ratio Return relative to maximum drawdown	3.30	8.98	-5.68
Martin ratio Return relative to average drawdown	16.55	27.78	-11.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRIO vs. AAA - Sharpe Ratio Comparison

The current TRIO Sharpe Ratio is 2.40, which is comparable to the AAA Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of TRIO and AAA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TRIO	AAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	2.36	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	2.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	1.93	-0.58

Drawdowns

TRIO vs. AAA - Drawdown Comparison

The maximum TRIO drawdown since its inception was -9.88%, which is greater than AAA's maximum drawdown of -2.63%. Use the drawdown chart below to compare losses from any high point for TRIO and AAA.

Drawdown Indicators

	TRIO	AAA	Difference
Max Drawdown Largest peak-to-trough decline	-9.88%	-2.63%	-7.25%
Max Drawdown (1Y) Largest decline over 1 year	-4.47%	-0.60%	-3.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-2.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.63%	—
Current Drawdown Current decline from peak	-0.17%	-0.22%	+0.05%
Average Drawdown Average peak-to-trough decline	-0.79%	-0.30%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	0.19%	+0.70%

Volatility

TRIO vs. AAA - Volatility Comparison

MC Trio Equity Buffered ETF (TRIO) has a higher volatility of 1.01% compared to AAF First Priority CLO Bond ETF (AAA) at 0.74%. This indicates that TRIO's price experiences larger fluctuations and is considered to be riskier than AAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRIO	AAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	0.74%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	4.77%	1.76%	+3.01%
Volatility (1Y) Calculated over the trailing 1-year period	6.14%	2.30%	+3.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.71%	2.28%	+8.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.71%	2.15%	+8.56%

TRIO vs. AAA - Expense Ratio Comparison

TRIO has a 0.70% expense ratio, which is higher than AAA's 0.25% expense ratio.

Dividends

TRIO vs. AAA - Dividend Comparison

TRIO's dividend yield for the trailing twelve months is around 8.54%, more than AAA's 4.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
AAA AAF First Priority CLO Bond ETF	4.90%	5.11%	6.17%	6.11%	2.78%	1.06%	0.32%
TRIO MC Trio Equity Buffered ETF	8.54%	9.01%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TRIO and AAA in my portfolio?

TRIO and AAA have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRIO or AAA?

TRIO has higher volatility (1.01%) compared to AAA (0.74%). In terms of maximum drawdown, TRIO dropped -9.88% vs AAA's -2.63%.

Which ETF is better, TRIO or AAA?

On 1-year performance, TRIO leads with 14.67% vs 5.39% for AAA. On fees, AAA is cheaper at 0.25% per year. On volatility, AAA has been the lower-risk option at 0.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TRIO or AAA?

Over the 1-year period, TRIO has performed better with a 14.67% return vs 5.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TRIO or AAA?

AAA is cheaper with a 0.25% expense ratio, compared with 0.70% for TRIO.

Which ETF pays a higher dividend yield, TRIO or AAA?

TRIO has the higher dividend yield at 8.54%, compared with 4.90% for AAA.

What is the main difference between TRIO and AAA?

TRIO is categorized as Equity Hedged, while AAA is CLO. They also come from different issuers: ETF Architect and Alternative Access Funds LLC. Their fees differ too: 0.70% for TRIO and 0.25% for AAA.

Which has better risk-adjusted returns?

TRIO currently has the higher Sharpe Ratio (2.40 vs 2.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.