AAA

AAF FIRST PRIORITY CLO BOND ETF FROM ALTERNATIVE ACCESS FUNDS

Gain exposure to a diversified portfolio of AAA-rated collateralized loan obligations (CLOs).

First Priority CLO Bond ETF [Ticker: AAA]

Alternative Access’ AAA ETF seeks capital preservation and income by trying to provide credit investors with diversified exposure to AAA-rated CLOs. AAA CLOs are a type of debt security supported by cashflows from secured, first lien loans.

  • Provides efficient, direct access to AAA-rated CLO bonds
  • Seeks to deliver relatively higher income by investing principally in AAA-rated or equivalent Collateralized Loan Obligations (CLOs)”
  • Offers diversification benefits through a broad spectrum of underlying corporate borrowers
  • Actively managed with a strict set of investment guidelines

 


FUND DATA & PRICING
Net Assets as of 07/30/2021 $10.03m
NAV $25.08
NAV Change ($) 0.00
NAV Change (%) 0.01
Shares Outstanding 400,000
Premium/discount Percentage -0.22%
Closing Price $25.03
Change in Closing Price ($) 0.00
Change in Closing Price (%) 0.00
30 Day Median Bid/Ask Spread 0.08%

Data as of 07/30/2021

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

Median Bid/Ask Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

FUND DETAILS
Inception Date 09/09/2020
Ticker AAA
Primary Exchange NYSE
CUSIP 53656F656
Asset Class Fixed Income
Number of Holdings 28
IOPV Symbol AAA.IV
NAV Symbol AAA.NV
Expense Ratio 0.25%
30 Day SEC Yield * 1.07%

* As of 6/30/2021

PERFORMANCE Returns as of 06/30/2021
  AVG. ANNUALIZED
  Quarter 1 Year 3 Year YTD Since Inception
Fund NAV 0.22% TBD TBD 0.78% 1.09%
Market Price 0.14% TBD TBD 0.29% 0.89%
Bloomberg Barclays US FRN < 5 Years Index 0.21% TBD TBD 0.39% 0.71%

Expense ratio: 0.25%

Data will be updated upon rolling performance after September 30, 2020.

The Bloomberg Barclays Floating Rate Note < 5 Years Total Return Index measures the performance of USD denominated, investment grade, floating-rate notes across corporate and government-related sectors. It is not possible to invest in an index.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling 917.535.5737.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.

The market price is the final price at which a security is traded on a given trading day. Net Asset Value (NAV) is value per share on a specific date or time.

DISTRIBUTION DETAIL
EX-Date Record Date Payable Date Amount
October 1, 2020 October 2, 2020 October 5, 2020 $0.013
November 2, 2020 November 3, 2020 November 4, 2020 $0.0225
December 1, 2020 December 2, 2020 December 3, 2020 $0.022
December 29, 2020 December 30, 2020 December 31, 2020 $0.0231675
February 1, 2021 February 2, 2021 February 3, 2021 $0.022
March 1, 2021 March 2, 2021 March 3, 2021 $0.0195
March 31, 2021 April 1, 2021 April 2, 2021 $0.024
May 3, 2021 May 4, 2021 May 5, 2021 $0.027
June 1, 2021 June 2, 2021 June 3, 2021 $0.024
July 1, 2021 July 2, 2021 July 6, 2021 $0.023
August 2, 2021 August 3, 2021 August 4, 2021 $0.023
PORTFOLIO METRICS As of 08/02/2021
Weighted Average Coupon 1.25
Weighted Average Coupon Spread 103.89
Weighted Average Maturity / Years to maturity 12.1837
Weighted Average Price 100.021
KEY METRICS As of 06/30/2021
Days at Discount 76
Days at Premium 48
Days at NAV 0
TOP 10 HOLDINGS
Percentage Of Net Assets Name Identifier Shares Held Market Value
4.99 MADISON PRK FDG XVIII 2015-18R A-1-R 20301021 FLT 55819BAL4 500000.00 500561.10
4.99 DRYDEN CLO LTD 2018-58 1.13388% 07/17/2031 26245RAA8 500000.00 500500.45
4.99 OCTAGON INV PTNS 2018-36 1.09613% 04/15/2031 67591UAC1 500000.00 499998.90
4.91 DRYDEN XXVI SR LN FD 2013-26R A-R 1.02613% 04/16/2 26250UAQ8 491935.00 491846.89
4.84 CBAM 2017-1 LTD 1.38425% 07/22/2030 12480VAC9 485000.00 485008.92
4.52 VOYA CLO 2015-1R 1.03388% 01/18/2029 92914NAJ0 452860.00 452859.82
4.48 AMMC CLO 15 LTD 2014-15RR 1.38613% 01/15/2032 00175MBF6 448904.00 448903.91
4.00 PALMER SQUARE CLO 2019-1 LTD A-1 1.49413% 11/15/20 69700GAA0 400000.00 400980.64
3.75 BATTALION CLO 2019-16 1.50425% 12/20/2032 07133MAA4 375000.00 375489.45
3.74 YORK CLO-4 LTD 2016-4R 1.22425% 04/20/2032 986252AQ7 375000.00 375276.00

Data as of 08/03/2021. Holdings are subject to change.

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