PAAA ETF — PGIM AAA CLO ETF

PGIM AAA CLO ETF (PAAA)

Updated October 2, 2026.

PAAA is a low-cost ETF. its distribution rate is 4.38%, its trailing-12-month yield is 4.66%, its expense ratio is 0.19%. Dividend Vision Distribution Safety Score™ is 78/100 (Generally safe). Total return is 21.8% over the past 3.2 years, 54.0 points behind SPY at 75.8%.

At the current 4.38% distribution rate, a $10,000 investment would generate approximately $438 per year, or $36.50 per month.

PAAA performance versus SPY

Price and return data through 2026-10-02.

Total return is 21.8% over the past 3.2 years, 54.0 points behind SPY at 75.8%. Over the past year its total return — price change plus distributions reinvested — is 4.8%. Its deepest 1-year drawdown was 0.2%.

PAAA key facts

Distribution Safety Score™

78 · Generally safe

Safety-Adjusted Yield

3.42%

Issuer

PGIM Investments

Asset type

ETF

Asset class

Fixed Income

Inception date

07/19/2023

Expense ratio

0.19%

Distribution rate

4.38%

Distribution frequency

Monthly

Trailing yield

4.66%

Last close

$51.32 (as of 2026-10-02)

AUM

$13,490,187,996

Average volume

3514900.0

Last dividend

$0.18749

Last ex-dividend date

09/30/2026

Last payment date

10/02/2026

Beta

0.02

How Dividend Vision calculates yield and returns

Distribution rate (4.38%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (4.66%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: PGIM Investments or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

PAAA risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 0.2%.

Who may consider PAAA — and who may not

PAAA may suit someone looking for low-cost broad dividend exposure, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

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