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ETFs

PGIM AAA CLO ETF

PAAA
$--
Today’s Change
-- (--)

Snapshot
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Inception Date
Jul 19 2023
Expense Ratio
0.19%
Type
US Bonds
Fund Owner
PGIM Investments
Volume (1m avg. daily)
$1,153,629
AUM
$126,006,384
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

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MDPK 2019-34A AR 4/32
3.24%
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HLM 10A-16 A1RR 4/34
3.14%
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SIXST 2021-19A A 7/34
2.95%
n/a
BCC 2022-1A A1 4/35
2.95%
n/a
SYMP 2016-18A A1RR 7/33
2.76%
n/a
PIPK 2020-6A AR2 5/34
2.76%
n/a
NEUB 2017-16SA AR 4/34
2.76%
n/a
CBAM 2020-12A AR 7/34
2.76%
n/a
LCM 34A A1 10/34
2.75%
n/a
PPMC 2021-5A A 10/34
2.75%
Invest with PAAA

What is PAAA?

PGIM AAA CLO ETF seeks to generate current income, with a secondary objective of capital preservation. The Fund is an actively managed exchange-traded fund that pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings made for investment purposes) in collateralized loan obligations ("CLOs") that are rated, at the time of purchase, AAA or an equivalent rating by a nationally recognized statistical rating organization.

ETFs related toPAAA

ETFs correlated to PAAA include USFR, IBMM, MINT

PAAA
PGIM ETF Trust - PGIM AAA CLO ETF
USFR
WisdomTree Trust - WisdomTree Floating Rate Treasury Fund
IBMM
BlackRock Institutional Trust Company N.A. - iShares iBonds Dec 2024 Term Muni Bond ETF
MINT
Pimco Exchange Traded Fund - PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
TBLL
Invesco Capital Management LLC - Invesco Short Term Treasury ETF
GSST
Goldman Sachs ETF Trust - Goldman Sachs Access Ultra Short Bond ETF
BIL
SPDR Series Trust - SPDR Bloomberg 1-3 Month T-Bill ETF
FLRN
SPDR Series Trust - SPDR Bloomberg Investment Grade Floating Rate ETF
KMLM
KraneShares Trust - KFA Mount Lucas Managed Futures Index Strategy ETF
SHV
BlackRock Institutional Trust Company N.A. - iShares Short Treasury Bond ETF
TBIL
Rbb Fund Inc - US Treasury 3 Month Bill ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toPAAA

#DB

Diversification at its Best

Category

Tactical Asset Allocation, Be Risk Aware, Diversification

Risk Rating

Moderate

#OPUS-12

Opus-12

Category

Opus, Investing for the Long-Term

Risk Rating

Moderate

Create your own algorithmic trading strategy with PAAA using Composer

FAQ

PAAA is a US Bonds ETF. PGIM AAA CLO ETF seeks to generate current income, with a secondary objective of capital preservation. The Fund is an actively managed exchange-traded fund that pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings made for investment purposes) in collateralized loan obligations ("CLOs") that are rated, at the time of purchase, AAA or an equivalent rating by a nationally recognized statistical rating organization.

Yes, PAAA is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, PAAA is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on PAAA is 0.0068%. This is the percent change in the value of PAAA over the most recent 1-month period. The 3-month return on PAAA is %. This is the percent change in the value of PAAA over the most recent 3-month period.

ETFs similar to PAAA include CMBS, JBBB, and CLOI.

ETFs correlated to PAAA include USFR, IBMM, and MINT.

ETFs that are inversely correlated to PAAA include SMMU, EWW, and JMHI.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.