PGIM AAA CLO ETF (PAAA) Performance
PAAA total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +3.9% since Dec 31, 2025
- 1 year
- +4.9% total return
- 3 years
- +6.3% a year
- Since first price
- +6.4% a year since 2023
PAAA trailing returns vs AGG, TLT, SPY
| Period | PAAA total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +0.3% | −0.1% | +0.9% | +1.5% | −1.0% |
| 3 months | +1.2% | +0.1% | −0.4% | −1.0% | +3.2% |
| 6 months | +2.4% | +0.1% | −1.5% | −3.8% | +7.8% |
| YTD | +3.9% | +0.4% | −1.0% | −3.4% | +12.3% |
| 1 year | +4.9% | +0.2% | −1.1% | −6.9% | +14.4% |
| 3 years | +20.0%+6.3%/yr | +2.1% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| Since inceptionJul 26, 2023 | +22.1%+6.4%/yr | +2.8% | — | — | — |
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: PAAA vs AGG
From Jul 26, 2023: PAAA grew to $12,215, AGG to $11,075.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PAAA returns by calendar year
2 of 2 full years positive. Best 2024 (+7.5%), worst 2025 (+5.4%). 2026 is year to date.
PAAA annual returns table
| Year | PAAA | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +3.9% | −0.2% | −1.0% | −3.4% | +12.3% |
| 2025 | +5.4% | −1.0% | +7.2% | +4.3% | +17.7% |
| 2024 | +7.5% | −0.3% | +1.3% | −8.1% | +24.9% |
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.
PAAA risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +6.3% | +6.4% |
| Volatility (annualized) | 0.7% | 0.7% |
| Sharpe ratio | 3.19 | 3.34 |
| Sortino ratio | 10.82 | 11.48 |
| Best month | +0.9% | +0.9% |
| Worst month | +0.1% | +0.1% |
| Best 12 months | +8.2% | +8.4% |
| Worst 12 months | +4.8% | +4.8% |
| Positive months | 100% | 100% |
| Beta vs S&P 500 | 0.03 | — |
| Correlation with S&P 500 | 0.64 | — |
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.
PAAA rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 28 | +4.7% | +6.0% | +8.4% | 100% |
| 3-year (a year) | 4 | +6.2% | +6.3% | +6.5% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
PAAA performance overview
PGIM AAA CLO ETF (PAAA) returned +4.9% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +6.4% a year, turning $10,000 into about $12,215. Over the same year U.S. bonds (AGG) returned −1.1%.
Related: PAAA chart, PAAA dividends, PAAA bond profile. See the PAAA overview for the latest quote and fund facts.
PAAA performance FAQ
What is the PAAA return over the past year?
PAAA returned +4.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 0.2%.
How much would $10,000 invested in PAAA be worth?
$10,000 invested in PAAA at its first recorded close on July 26, 2023 would be worth about $12,215 on October 23, 2026 with distributions reinvested.
What was the worst year for PAAA?
The worst calendar year was 2025, with a total return of +5.4%. The best was 2024 at +7.5%.
How volatile is PAAA?
Over the past 3 years PAAA had an annualized volatility of 0.7% and a Sharpe ratio of 3.19 (excess return over 1–3 month T-bills per unit of risk).