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Trending ETFs

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

Compare AAA to Popular Bank Loan Funds

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%

Compare AAA to Popular Bank Loan ETFs

Overview

Next Dividend

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

Dividend.com Ratings*

$22.21

-0.18%

$5.88 B

3.32%

$0.74

blocked
blocked
blocked

-0.27%

0.65%

$45.90

-0.07%

$3.88 B

4.70%

$2.16

blocked
blocked
blocked

0.68%

0.70%

$48.09

+0.10%

$1.77 B

3.25%

$1.56

blocked
blocked
blocked

0.99%

0.85%

$50.47

+0.09%

$121.04 M

0.57%

$0.29

blocked
blocked
blocked

0.36%

0.25%

$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
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AAF First Priority CLO Bond ETF
  • Fund Family Name
    Alternative Access Funds
  • Inception Date
    Sep 09, 2020
  • Shares Outstanding
    400000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Peter 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

  1. Dryden XXVI Senior Loan Funding 1.14% 5.33%
  2. VOYA CLO 2015-1 LTD 1.12% 5.33%
  3. Magnetite Xix. Limited 1.4% 5.33%
  4. OCTAGON INVESTMENT PARTNERS 36 LTD 1.21% 5.32%
  5. DRYDEN 58 CLO LTD / LLC 1.22% 5.32%
  6. Regatta II Funding L.P. 1.49% 5.20%
  7. BURNHAM PARK CLO LTD 0% 5.14%
  8. Octagon Invt Partners XXIII LTD 1.09% 4.43%
  9. Symphony CLO XXII LTD/LLC 1.51% 4.10%
  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

Dividend Payout History

View More +

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