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Critical Facts You Need to Know About Preferred Stocks
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Rating
Sector Rating
Recommendation *
Avoid
Neutral
Fair
Quality
Rating Breakdown
Avg.
Relative Strength
The relative strength of a dividend stock indicates whether the stock is uptrending or not. The major determining factor in this rating is whether the stock is trading close to its 52-week-high.
Overall Yield Attractiveness
If a stock’s yield is above or near the market average then it will be rated higher within this parameter. High dividend yields (usually over 10%) should be considered extremely risky, while low dividend yields (1% or less) are simply not very beneficial to long-term investors.
Dividend Reliability
A stock’s dividend reliability is determined by a healthy payout ratio that is higher than other stocks. A company that pays out close to half its earnings as dividends and retains the other half of earnings has ample room to grow its business and pay out more dividends in the future.
Dividend Uptrend
A stock’s Dividend Uptrend rating is dependent on the company’s price-to-earnings (P/E) ratio to evaluate whether or not a stock’s dividend is likely to trend upward. If a stock is valued near, or slightly below the market average, research has shown that the market expects the stock’s dividend to increase.
Earnings Growth
A stock’s Earnings Growth rating evaluates a company’s expected EPS for the current financial year and compares it to next financial year’s expected EPS. Stocks with single-digit growth estimates will have a higher rating than others, as our research has shown that well-established dividend-paying companies have modest earnings growth estimates.
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AAF First Priority CLO Bond ETF
etf
AAA
Dividend policy
Active
Price as of:
$25.04
-0.01
0%
primary theme
Bank Loan
AAA (ETF)
AAF First Priority CLO Bond ETF
Dividend policy
Active
Price as of:
$25.04
-0.01
0%
primary theme
Bank Loan
AAA (ETF)
AAF First Priority CLO Bond ETF
Dividend policy
Active
Price as of:
$25.04
-0.01
0%
primary theme
Bank Loan
AAA - Snapshot
Vitals
- YTD Return -0.1%
- 3 Yr Annualized Return N/A
- 5 Yr Annualized Return N/A
- Net Assets $10 M
- Holdings in Top 10 46.7%
52 WEEK LOW AND HIGH
$25.05
$24.87
$25.17
Expenses
OPERATING RELATED FEES
- Expense Ratio N/A
SALES FEES
- Front Load N/A
- Deferred Load N/A
BROKERAGE FEES
- Turnover N/A
TRADING FEES
- Max Redemption Fee N/A
Min Investment
- Standard (Taxable) N/A
- IRA N/A
Fund Classification
- Primary Theme Bank Loan
- Fund Type Exchange Traded Fund
- Investment Style Bank Loan
Overview
Next Dividend
Income Profile
Income Risk
Returns Profile
Allocations
Expenses
About
Dividend.com Ratings*
$9.40
-0.11%
$7.76 B
3.41%
$0.32
blocked
blocked
blocked
1.51%
0.73%
$10.53
0.00%
$6.34 B
4.12%
$0.43
blocked
blocked
blocked
1.06%
1.35%
$8.78
-0.11%
$6.16 B
3.41%
$0.30
blocked
blocked
blocked
0.69%
0.82%
$8.39
0.00%
$6.01 B
4.26%
$0.36
blocked
blocked
blocked
1.08%
0.60%
$9.76
0.00%
$4.13 B
4.05%
$0.40
blocked
blocked
blocked
0.72%
0.58%
Overview
Next Dividend
Income Profile
Income Risk
Returns Profile
Allocations
Expenses
About
Dividend.com Ratings*
Invesco Senior Loan ETF
BKLN | ETF
$22.21
-0.18%
$5.88 B
3.32%
$0.74
blocked
blocked
blocked
-0.27%
0.65%
SPDR Blackstone Senior Loan ETF
SRLN | ETF
$45.90
-0.07%
$3.88 B
4.70%
$2.16
blocked
blocked
blocked
0.68%
0.70%
First Trust Senior Loan Fund
FTSL | ETF
$48.09
+0.10%
$1.77 B
3.25%
$1.56
blocked
blocked
blocked
0.99%
0.85%
Janus Henderson AAA CLO ETF
JAAA | ETF
$50.47
+0.09%
$121.04 M
0.57%
$0.29
blocked
blocked
blocked
0.36%
0.25%
Highland/iBoxx Senior Loan ETF
SNLN | ETF
$16.17
-0.22%
$43.52 M
2.49%
$0.40
blocked
blocked
blocked
0.94%
1.12%
AAA - Profile
Distributions
- YTD Total Return -0.1%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 0.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameAAF First Priority CLO Bond ETF
-
Fund Family NameAlternative Access Funds
-
Inception DateSep 09, 2020
-
Shares Outstanding400000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerPeter Coppa
Fund Description
The fund is an actively-managed exchange-traded fund (“ETF”) 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 AAA rated first priority debt tranches of U.S. dollar-dominated collateralized loan obligations (“CLOs”). It may invest in CLOs of any maturity. The fund is actively managed and does not seek to track the performance of any particular index.
AAA - Performance
Return Ranking - Trailing
| Period | AAA Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.1% | -1.4% | 8.9% | 97.35% |
| 1 Yr | N/A | 4.2% | 86.9% | N/A |
| 3 Yr | N/A* | -1.4% | 5.8% | N/A |
| 5 Yr | N/A* | 1.8% | 9.0% | N/A |
| 10 Yr | N/A* | 1.6% | 6.3% | N/A |
* Annualized
Return Ranking - Calendar
| Period | AAA Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | N/A | -16.5% | 289.8% | N/A |
| 2019 | N/A | -8.1% | 7.5% | N/A |
| 2018 | N/A | -12.2% | 5.5% | N/A |
| 2017 | N/A | -4.2% | 3.7% | N/A |
| 2016 | N/A | -65.0% | 12.9% | N/A |
Total Return Ranking - Trailing
| Period | AAA Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.1% | -1.4% | 8.9% | 97.35% |
| 1 Yr | N/A | 1.1% | 86.9% | N/A |
| 3 Yr | N/A* | -1.8% | 5.8% | N/A |
| 5 Yr | N/A* | 1.8% | 9.0% | N/A |
| 10 Yr | N/A* | 1.6% | 6.3% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | AAA Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | N/A | -16.5% | 289.8% | N/A |
| 2019 | N/A | -8.1% | 7.5% | N/A |
| 2018 | N/A | -12.2% | 5.5% | N/A |
| 2017 | N/A | -4.2% | 7.2% | N/A |
| 2016 | N/A | -65.0% | 12.9% | N/A |
AAA - Holdings
Concentration Analysis
| AAA | Category Low | Category High | AAA % Rank | |
|---|---|---|---|---|
| Net Assets | 10 M | 6.18 M | 7.76 B | 99.65% |
| Number of Holdings | 27 | 13 | 1246 | 99.34% |
| Net Assets in Top 10 | 4.38 M | -161 M | 1.49 B | 95.39% |
| Weighting of Top 10 | 46.65% | 6.2% | 91.8% | 5.28% |
Top 10 Holdings
- Dryden XXVI Senior Loan Funding 1.14% 5.33%
- VOYA CLO 2015-1 LTD 1.12% 5.33%
- Magnetite Xix. Limited 1.4% 5.33%
- OCTAGON INVESTMENT PARTNERS 36 LTD 1.21% 5.32%
- DRYDEN 58 CLO LTD / LLC 1.22% 5.32%
- Regatta II Funding L.P. 1.49% 5.20%
- BURNHAM PARK CLO LTD 0% 5.14%
- Octagon Invt Partners XXIII LTD 1.09% 4.43%
- Symphony CLO XXII LTD/LLC 1.51% 4.10%
- Cedar Funding VII CLO, Ltd 1.22% 4.09%
Asset Allocation
| Weighting | Return Low | Return High | AAA % Rank | |
|---|---|---|---|---|
| Bonds | 100.00% | 30.80% | 146.63% | 2.63% |
| Stocks | 0.00% | 0.00% | 7.86% | 94.08% |
| Preferred Stocks | 0.00% | 0.00% | 24.21% | 73.03% |
| Other | 0.00% | -51.39% | 11.86% | 80.92% |
| Convertible Bonds | 0.00% | 0.00% | 5.44% | 80.26% |
| Cash | 0.00% | -17.24% | 55.70% | 96.38% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | AAA % Rank | |
|---|---|---|---|---|
| Securitized | 100.00% | 0.00% | 100.00% | 0.33% |
| Derivative | 0.00% | 0.00% | 6.30% | 62.71% |
| Cash & Equivalents | 0.00% | 0.00% | 68.78% | 97.69% |
| Corporate | 0.00% | 0.00% | 100.00% | 99.34% |
| Municipal | 0.00% | 0.00% | 2.40% | 63.37% |
| Government | 0.00% | 0.00% | 1.41% | 66.67% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | AAA % Rank | |
|---|---|---|---|---|
| Non US | 74.68% | 0.00% | 92.60% | 1.97% |
| US | 25.32% | 5.51% | 146.63% | 98.36% |
AAA - Expenses
Operational Fees
| AAA Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | N/A | 0.01% | 27.10% | N/A |
| Management Fee | 0.25% | 0.00% | 1.73% | 2.64% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 10.60% |
| Administrative Fee | N/A | 0.03% | 0.40% | N/A |
Sales Fees
| AAA Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 3.00% | N/A |
Trading Fees
| AAA Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| AAA Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 412.00% | N/A |
AAA - Distributions
Dividend Yield Analysis
| AAA | Category Low | Category High | AAA % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.05% | 0.00% | 4.17% | 10.75% |
Dividend Distribution Analysis
| AAA | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| AAA | Category Low | Category High | AAA % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | 1.29% | 10.93% | N/A |
Capital Gain Distribution Analysis
| AAA | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
AAA - Fund Manager Analysis
Managers
Peter Coppa
Start Date
Tenure
Tenure Rank
Sep 09, 2020
0.56
0.6%
Peter Coppa has experience in the asset management business, running corporate debt hedge funds and CLOs. Prior to joining AAF, Mr. Coppa spent 14 years as Managing Director at Marathon Asset Management (“MAM”). He has experience in value and event-driven distressed investing, dynamic hedging and portfolio management, corporate financial analysis, and macro-economic research. Beginning in 2009 until 2017, Mr. Coppa was a portfolio manager for MAM’s distressed and credit opportunities fund. He has invested in dozens of special credit opportunities throughout his career, in sectors including, but not limited to, airlines, telecommunications, metals and mining, energy and power, and a variety of sovereigns. Prior to 2009, Mr. Coppa was an analyst and trader for MAM’s credit opportunities, structured credit and convertible arbitrage funds. He began his career as a credit analyst at Delaware Investments. Mr. Coppa received a B.S. in economics from The Wharton School at the University of Pennsylvania.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 22.43 | 5.66 | 2.08 |
