# PGIM AAA CLO ETF (PAAA): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/paaa for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: PGIM · Asset class: Fixed Income - Strategy: Thematic · Inception: 2023-07-19 The core objective of this ETF is to achieve the greatest possible comprehensive financial gain. This is accomplished by focusing on both consistent income generation and the growth in value of its underlying assets. ## Key Facts | Metric | Value | |---|---| | Price | $51.46 | | Expense Ratio | 0.19% | | Assets Under Management | $15.02B | | NAV | $51.43 | | Holdings Count | 0 | | Distribution Yield (TTM) | 4.65% | | Annual Distribution (TTM) | $2.39 /share | | Distribution Frequency | Monthly | | 52-Week Range | $51.16 – $51.54 | | Beta | 0.03 | ## Latest Distribution - Amount: $0.1875 /share - Ex-date: 2026-09-30 - Pay date: 2026-10-02 ## Frequently Asked Questions ### What does PAAA invest in? The core objective of this ETF is to achieve the greatest possible comprehensive financial gain. This is accomplished by focusing on both consistent income generation and the growth in value of its underlying assets. ### What is the expense ratio of PAAA? PGIM AAA CLO ETF (PAAA) charges an expense ratio of 0.19%. This is the annual fee deducted from fund assets to cover management and operations. ### What is PAAA's dividend yield? PAAA's trailing-twelve-month yield is 4.65%, calculated from the sum of dividends over the past year divided by the current price. ### What is the duration of PAAA? Effective duration measures PAAA's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. PAAA's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of PAAA? PAAA's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of PAAA? Yield to maturity (YTM) is the total return you'd earn from PAAA if every bond in the portfolio is held to maturity at the current price. PAAA's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### Does PAAA pay a dividend? Yes, PGIM AAA CLO ETF (PAAA) distributes dividends to shareholders. The trailing-twelve-month yield is 4.65%. Full dividend history is on this page. ### How often does PAAA pay dividends? PGIM AAA CLO ETF pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is PAAA's next ex-dividend date? The most recently announced ex-dividend date for PAAA was 2026-09-30. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will PAAA's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.19% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does PAAA charge its expense ratio? The expense ratio is deducted in tiny daily slices from PAAA's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does PAAA cost more than a fund like VOO? PAAA's strategy (current expense ratio 0.19%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where PAAA sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to PAAA? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as PAAA (0.19%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/paaa - Distribution history: https://www.dividenddata.com/funds/paaa/dividend - Holdings & diversification: https://www.dividenddata.com/funds/paaa/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/paaa/expenses - Peer comparison: https://www.dividenddata.com/funds/paaa/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.