AAF First Priority CLO Bond ETF (AAA) Performance
AAA total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +3.0% since Dec 31, 2025
- 1 year
- +4.1% total return
- 5 years
- +4.8% a year
- Since first price
- +4.0% a year since 2020
AAA trailing returns vs AGG, TLT, SPY
| Period | AAA total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −0.1% | −0.5% | +0.9% | +1.5% | −1.0% |
| 3 months | +0.7% | −0.4% | −0.4% | −1.0% | +3.2% |
| 6 months | +1.9% | −0.3% | −1.5% | −3.8% | +7.8% |
| YTD | +3.0% | −0.4% | −1.0% | −3.4% | +12.3% |
| 1 year | +4.1% | −0.6% | −1.1% | −6.9% | +14.4% |
| 3 years | +17.9%+5.6%/yr | +0.2% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +26.4%+4.8%/yr | −0.4% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| Since inceptionSep 9, 2020 | +27.5%+4.0%/yr | −0.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: AAA vs AGG
From Sep 9, 2020: AAA grew to $12,749, AGG to $9,766.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
AAA returns by calendar year
5 of 5 full years positive. Best 2023 (+8.9%), worst 2022 (+0.1%). 2026 is year to date.
AAA annual returns table
| Year | AAA | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +3.0% | −1.1% | −1.0% | −3.4% | +12.3% |
| 2025 | +4.9% | −2.4% | +7.2% | +4.3% | +17.7% |
| 2024 | +6.8% | −0.4% | +1.3% | −8.1% | +24.9% |
| 2023 | +8.9% | −0.7% | +5.7% | +2.8% | +26.2% |
| 2022 | +0.1% | −2.6% | −13.0% | −31.2% | −18.2% |
| 2021 | +0.9% | −0.3% | −1.8% | −4.6% | +28.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
AAA risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +5.6% | +4.7% | +4.1% |
| Volatility (annualized) | 1.0% | 1.5% | 1.5% |
| Sharpe ratio | 1.13 | 0.79 | 0.89 |
| Sortino ratio | 1.74 | 1.12 | 1.28 |
| Best month | +1.1% | +1.2% | +1.2% |
| Worst month | −0.5% | −1.3% | −1.3% |
| Best 12 months | +7.7% | +9.1% | +9.1% |
| Worst 12 months | +3.7% | −1.7% | −1.8% |
| Positive months | 92% | 85% | 83% |
| Beta vs S&P 500 | 0.04 | 0.04 | — |
| Correlation with S&P 500 | 0.52 | 0.38 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
AAA rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 62 | −1.8% | +5.1% | +9.1% | 89% |
| 3-year (a year) | 38 | +2.7% | +5.6% | +7.3% | 100% |
| 5-year (a year) | 14 | +4.2% | +4.5% | +4.8% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
AAA performance overview
AAF First Priority CLO Bond ETF (AAA) returned +4.1% over the past year and +4.8% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +4.0% a year, turning $10,000 into about $12,749. Over the same year U.S. bonds (AGG) returned −1.1%.
Related: AAA chart, AAA dividends, AAA bond profile. See the AAA overview for the latest quote and fund facts.
AAA performance FAQ
What is the AAA return over the past year?
AAA returned +4.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 0.6%.
What is the average annual return of AAA?
AAA has returned +4.8% a year over 5 years, +4.0% a year since September 9, 2020 (total return, distributions reinvested).
How much would $10,000 invested in AAA be worth?
$10,000 invested in AAA at its first recorded close on September 9, 2020 would be worth about $12,749 on October 23, 2026 with distributions reinvested.
What was the worst year for AAA?
The worst calendar year was 2022, with a total return of +0.1%. The best was 2023 at +8.9%.
How volatile is AAA?
Over the past 3 years AAA had an annualized volatility of 1.0% and a Sharpe ratio of 1.13 (excess return over 1–3 month T-bills per unit of risk).