PAAA

PAAA is an actively managed fixed-income ETF targeting U.S. dollar-denominated AAA-rated CLO tranches, aiming to generate total return with an emphasis on current income and capital stability.

The manager combines top-down macro views with bottom-up credit work to pick individual CLO positions, with guardrails like position caps and limits on fixed-rate exposure.

It can also use derivatives (futures, swaps, options, forwards) to hedge risks rather than track an index.