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
  • The asset class has a long history of principal preservation; since the inception of the asset class in 1994, AAA-rated CLOs have never experienced a default1
  • Actively managed with a strict set of investment guidelines

 


FUND DATA & PRICING
Net Assets as of 10/28/2020 $9.95m
NAV $24.88
NAV Change ($) -0.01
NAV Change (%) -0.03
Shares Outstanding 400,000
Premium/discount Percentage 0.30%
Closing Price $24.96
Change in Closing Price ($) 0.00
Change in Closing Price (%) 0.00
30 Day Median Bid/Ask Spread 0.08%

Data as of 10/28/2020

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 27
IOPV Symbol AAA.IV
NAV Symbol AAA.NV
Expense Ratio 0.25%
30 Day SEC Yield * 1.22%

* As of 10/22/2020

PERFORMANCE Quarter end returns as of 9/30/2020
  AVG. ANNUALIZED
  Quarter 1 Year 3 Year YTD Since Inception
Fund NAV TBD TBD TBD TBD -0.16%
Market Price TBD TBD TBD TBD -0.59%
Bloomberg Barclays US FRN < 5 Years Index TBD TBD TBD TBD 0.00%

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
PORTFOLIO METRICS As of 10/29/2020
Weighted Average Coupon 1.33
Weighted Average Coupon Spread 110.77
Weighted Average Maturity / Years to maturity 9.62303
Weighted Average Price 99.6165
KEY METRICS As of 09/30/2020
Days at Discount 0
Days at Premium 16
Days at NAV 1
TOP 10 HOLDINGS
Percentage Of Net Assets Name Identifier Shares Held Market Value
5.01 MAGNETITE XIX LTD 2017-19 1.39775% 07/17/2030 55954KAA3 500000.00 498422.65
5.00 REGATTA II FDG L.P 2013-R2 1.48688% 01/16/2029 75885WAS0 500000.00 497859.85
4.98 VOYA CLO 2015-1R 1.11775% 01/18/2029 92914NAJ0 500000.00 495641.30
4.97 DRYDEN XXVI SR LN FD 2013-26R A-R 1.13688% 04/16/2 26250UAQ8 500000.00 494501.65
4.94 DRYDEN CLO LTD 2018-58 1.21775% 07/17/2031 26245RAA8 500000.00 492024.80
4.27 OCTAGON INV PTN XXIII 2015-23R A-1-R 20270715 FLT 67590WCE2 428796.00 425291.66
3.78 CAYUGA PARK CLO LTD 2020-1 1.8318% 07/17/2031 149791AA3 375000.00 375744.30
3.75 AMMC CLO 16 LTD 2015-16R 1.48888% 04/14/2029 00176JAK2 375000.00 373690.73
3.75 GOLD TREE LN MGMT US CLO2017-2 A 1.36838% 11/29/20 38136MAC2 375000.00 373304.44
3.75 LCM XX LTD 2015-20R 1.25838% 10/20/2027 50188WAE8 375000.00 373032.41

Data as of 10/29/2020. Holdings are subject to change.

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