UCLU.DE vs. LAAA.DE

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco USD AAA CLO UCITS ETF Dist (UCLU.DE) and Fair Oaks AAA CLO Fund UCITS ETF EUR Dist (LAAA.DE).

UCLU.DE and LAAA.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UCLU.DE is an actively managed fund by Invesco. It was launched on Oct 2, 2025. LAAA.DE is an actively managed fund by Fair Oaks. It was launched on Sep 10, 2024.

Performance

UCLU.DE vs. LAAA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco USD AAA CLO UCITS ETF Dist (UCLU.DE) and Fair Oaks AAA CLO Fund UCITS ETF EUR Dist (LAAA.DE). The values are adjusted to include any dividend payments, if applicable.

UCLU.DE vs. LAAA.DE - Yearly Performance Comparison

	2026 (YTD)	2025
UCLU.DE Invesco USD AAA CLO UCITS ETF Dist	2.22%	-8.03%
LAAA.DE Fair Oaks AAA CLO Fund UCITS ETF EUR Dist	0.37%	2.92%

Returns By Period

In the year-to-date period, UCLU.DE achieves a 2.22% return, which is significantly higher than LAAA.DE's 0.37% return.

UCLU.DE

• 1D: -0.70%
• 1M: 0.58%
• YTD: 2.22%
• 6M: 2.85%
• 1Y: -3.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LAAA.DE

• 1D: 0.02%
• 1M: -0.06%
• YTD: 0.37%
• 6M: 1.09%
• 1Y: 3.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UCLU.DE vs. LAAA.DE - Expense Ratio Comparison

UCLU.DE has a 0.25% expense ratio, which is lower than LAAA.DE's 0.35% expense ratio.

LAAA.DE

Fair Oaks AAA CLO Fund UCITS ETF EUR Dist

UCLU.DE

Invesco USD AAA CLO UCITS ETF Dist

Return for Risk

UCLU.DE vs. LAAA.DE — Risk / Return Rank

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

UCLU.DE

UCLU.DE Risk / Return Rank: 5
UCLU.DE Sharpe Ratio Rank: 5
UCLU.DE Sortino Ratio Rank: 4
UCLU.DE Omega Ratio Rank: 5
UCLU.DE Calmar Ratio Rank: 5
UCLU.DE Martin Ratio Rank: 6

LAAA.DE

LAAA.DE Risk / Return Rank: 98
LAAA.DE Sharpe Ratio Rank: 98
LAAA.DE Sortino Ratio Rank: 99
LAAA.DE Omega Ratio Rank: 99
LAAA.DE Calmar Ratio Rank: 97
LAAA.DE Martin Ratio Rank: 97

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.

UCLU.DE vs. LAAA.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco USD AAA CLO UCITS ETF Dist (UCLU.DE) and Fair Oaks AAA CLO Fund UCITS ETF EUR Dist (LAAA.DE). 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.

	UCLU.DE	LAAA.DE	Difference
Sharpe ratio Return per unit of total volatility	-0.43	3.63	-4.05
Sortino ratio Return per unit of downside risk	-0.52	6.50	-7.03
Omega ratio Gain probability vs. loss probability	0.94	2.12	-1.18
Calmar ratio Return relative to maximum drawdown	-0.41	5.79	-6.21
Martin ratio Return relative to average drawdown	-0.67	22.92	-23.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UCLU.DE vs. LAAA.DE - Sharpe Ratio Comparison

The current UCLU.DE Sharpe Ratio is -0.43, which is lower than the LAAA.DE Sharpe Ratio of 3.63. The chart below compares the historical Sharpe Ratios of UCLU.DE and LAAA.DE, 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

	UCLU.DE	LAAA.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.43	3.63	-4.05
Sharpe Ratio (All Time) Calculated using the full available price history	-0.73	2.23	-2.95

Correlation

The correlation between UCLU.DE and LAAA.DE is -0.08. 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

UCLU.DE vs. LAAA.DE - Dividend Comparison

UCLU.DE's dividend yield for the trailing twelve months is around 4.57%, more than LAAA.DE's 3.61% yield.

	TTM	2025
UCLU.DE Invesco USD AAA CLO UCITS ETF Dist	4.57%	3.56%
LAAA.DE Fair Oaks AAA CLO Fund UCITS ETF EUR Dist	3.61%	3.58%

Drawdowns

UCLU.DE vs. LAAA.DE - Drawdown Comparison

The maximum UCLU.DE drawdown since its inception was -10.53%, which is greater than LAAA.DE's maximum drawdown of -1.45%. Use the drawdown chart below to compare losses from any high point for UCLU.DE and LAAA.DE.

Drawdown Indicators

	UCLU.DE	LAAA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-10.53%	-1.45%	-9.08%
Max Drawdown (1Y) Largest decline over 1 year	-6.85%	-0.52%	-6.33%
Current Drawdown Current decline from peak	-6.41%	-0.17%	-6.24%
Average Drawdown Average peak-to-trough decline	-7.44%	-0.07%	-7.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	0.13%	+3.72%

Volatility

UCLU.DE vs. LAAA.DE - Volatility Comparison

Invesco USD AAA CLO UCITS ETF Dist (UCLU.DE) has a higher volatility of 1.98% compared to Fair Oaks AAA CLO Fund UCITS ETF EUR Dist (LAAA.DE) at 0.18%. This indicates that UCLU.DE's price experiences larger fluctuations and is considered to be riskier than LAAA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCLU.DE	LAAA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	0.18%	+1.80%
Volatility (6M) Calculated over the trailing 6-month period	4.13%	0.42%	+3.71%
Volatility (1Y) Calculated over the trailing 1-year period	7.10%	0.83%	+6.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.29%	1.62%	+5.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.29%	1.62%	+5.67%