ETF Evaluator:
PGIM AAA CLO Aggregate Duration ETF ()
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(as of Aug 25)
Best Performing in Securitized Bond - Focused Over the Last Year
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ETF Details
PGIM AAA CLO Aggregate Duration ETF Overview
PGIM AAA CLO Aggregate Duration ETF (AAAD) is an actively managed Taxable Bond Securitized Bond - Focused exchange-traded fund (ETF). PGIM launched the ETF in 2026.
The investment seeks to maximize total return, through a combination of current income and capital appreciation.
Under normal circumstances, the fund invests at least 80% of its investable assets in U.S. dollar-denominated collateralized loan obligations (“CLOs”) that are, at the time of purchase, rated AAA (or equivalent) by at least one nationally recognized statistical rating organization (“NRSRO”) or, if unrated, determined by the subadvisor to be of comparable quality as well as in securities or other instruments that provide similar investment or risk exposure to AAA rated CLOs. The fund is non-diversified.
About PGIM AAA CLO Aggregate Duration ETF (AAAD)
There are 3 members of the management team with an average tenure of 0.16 years: Edwin Wilches (2026), Gabriel Rivera (2026) and Connor Byrnes (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
PGIM AAA CLO Aggregate Duration ETF has 34 securities in its portfolio. The top 10 holdings constitute 101.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
PGIM AAA CLO Aggregate Duration ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. PGIM AAA CLO Aggregate Duration ETF has 45.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.2% (53.2% domestic bond, 45.0% foreign bond and 0.0% convertible bond). PGIM AAA CLO Aggregate Duration ETF has 1.8% of the portfolio in cash.
Assets Under Management
The fund has $25 million in total assets, which is below the $1 billion average for the Securitized Bond - Focused category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
AAAD Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The PGIM AAA CLO Aggregate Duration ETF expense ratio is low compared to funds in the Securitized Bond - Focused category. PGIM AAA CLO Aggregate Duration ETF has an expense ratio of 0.19%, which is 39% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. PGIM AAA CLO Aggregate Duration ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 51% for the Securitized Bond - Focused category.
Recently, in the month of July 2026, PGIM AAA CLO Aggregate Duration ETF returned -1.1%, which earned it a grade of F, as the Securitized Bond - Focused category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
PGIM AAA CLO Aggregate Duration ETF has a trailing yield of 0.00%, which is below the 5.32% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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AAAD Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| AAAD Return (NAV) | -1.1% | na | na | na | na | na |
| AAAD Return (Price) | 0.1% | na | na | na | na | na |
| NAV +/- Price Return | -1.276% | na | na | na | na | na |
| Securitized Bond - Focused Avg | 0.3% | 1.2% | 4.9% | 6.6% | 3.4% | 1.9% |
| AAAD Grade (NAV) | F | na | na | na | na | na |
| +/- Category (NAV) | -1.5% | na | na | na | na | na |
| AAAD Tax-Cost Ratio | na | na | na | na | na | na |
AAAD Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| AAAD Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| AAAD Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Securitized Bond - Focused Avg | 2.5% | 5.9% | 7.6% | 9.0% | -3.7% | 0.3% | 5.8% | 7.5% | 0.6% | 3.1% | 3.0% |
| AAAD Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 26 Mil |
| Share Class Assets: | $ 26 Mil |
| Turnover: | na |
| Expense Ratio: | 0.19% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 0.2 years | |||
| Average Tenure: 0.2 years | |||
| Managers (Year): Wilches Edwin (2026), Rivera Gabriel (2026), Byrnes Connor (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 34 |
| % in Top 10 Holdings: | 101.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 45.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 53.2% |
| Foreign Bond: | 45.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | PGIM |
| Phone Number: | 888-247-8090 |
| Website: | www.pgim.com/investments |
| Inception Date: | June 1, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.19% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.31% |
