Home 
Today's Top Picks 
Top Performers 
Watchlist 
My Robo Portfolios 
ETF Zone 
How It Works 
News - Chart
- Upturn Summary
- Fund Details
Upturn AI Summary
Listed Funds Trust - AAF First Priority CLO Bond ETF(AAA)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for AAA
09/25/2026: AAA (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Listed Funds Trust's AAA is a primary ETF for investors seeking exposure to AAA-rated CLO tranches. By focusing on the senior portion of the capital stack, it aims to provide institutional-level income and capital preservation. Its main strengths are its transparency, liquidity, and active management in a normally opaque market. Investors should be aware of risks related to corporate credit quality and potential liquidity constraints in the CLO market. It is best suited for income-oriented portfolios where quality credit exposure is desired.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
ETF holdings, costs, diversification, valuation, risks, and market conditions provide supporting context about the fund.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Weak fit | This fund is designed for income and capital preservation, not capital appreciation. |
| Momentum investor | Weak fit | The fund does not exhibit the high-volatility price action typical of momentum strategies. |
| Value investor | Mixed fit | Value investors may appreciate the income component but may not find the structure suitable for equity-like valuation plays. |
| Dividend/Income investor | Strong fit | The fund provides attractive floating-rate income streams backed by senior credit. |
| Low-risk investor | Strong fit | AAA-rated CLOs are considered highly defensive within the structured credit sector. |
Investor Profile
Ideal Investor Profile
Conservative income investors and institutions looking for exposure to high-quality credit with professional management.
Suitability
Best for long-term income-focused investors rather than short-term speculators.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Low | The senior nature of the holdings cushions against broad market drawdowns. |
| Market risk | Medium | Changes in credit spreads or interest rates can impact the market value of the holdings. |
| Concentration | Medium | The fund is concentrated in the CLO asset class. |
| Tracking/expense | Low | The low expense ratio ensures minimal drag on the yield. |
| Liquidity | Medium | While liquid, the underlying CLO market can see reduced volume during periods of extreme financial stress. |
| Business/sector quality | Low | AAA-rated assets have historically low default rates. |
Risk Analysis
Volatility
AAA displays low volatility, characteristic of senior debt instruments.
Market Risk
Risks include credit spread widening and sensitivity to the underlying corporate loan market.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Fixed-income type | AAA-Rated CLO Senior Tranches | 98 | These represent the most senior, least risky slice of CLO debt, offering high credit quality and floating-rate income. |
| Cash/collateral | Cash and Cash Equivalents | 2 | Maintained for liquidity and operational flexibility. |
Price Behavior
Flat / Range-Bound
The stock price has been trading within a narrow range with minimal directional movement.
Very Smooth
The stock has followed a highly orderly price path with minimal short-term disruption.
Analysis of Past Performance
Type ETF | Historic Profit 15.18% | Avg. Invested days 215 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Advisory Rating  | Upturn Advisory Performance  5.0 | ETF Returns Performance  3.0 |
| Profits based on simulation | Last Close 09/25/2026 |
ETF Fundamentals 
Source: EOD Historical Data • Updated Sep 26, 2026
Fund Basics
| Metric | Value |
|---|---|
| Fund Size (AUM) | $70.14M |
| Issuer | Alternative Access Funds |
| Expense Ratio | 0.25% |
| Distribution Yield | 4.68% |
| Inception | Sep 8, 2020 |
Performance
| Period | Total Return |
|---|---|
| YTD | +3.30% |
| 1 Year | +4.58% |
| 3 Year | +5.88% |
| 5 Year | +4.86% |
| 10 Year | +0.00% |
Risk Metrics
| Metric | Value |
|---|---|
| 1Y Volatility | 0.37% |
| 3Y Volatility | 0.56% |
| 3Y Sharpe Ratio | 2.78 |
Ratings
| Metric | Value |
|---|---|
| Morningstar Rating | ★★★★★ |
Top Sectors
| Sector | Weight |
|---|---|
| Basic Materials | 0.00% |
| Consumer Cyclicals | 0.00% |
| Financial Services | 0.00% |
| Real Estate | 0.00% |
Asset Allocation
Portfolio Characteristics
| Metric | Value |
|---|---|
| Holdings Turnover | 0.0% |
Top Holdings
| Holding | Weight |
|---|---|
| Cedar Funding VII CLO 3.71% | 5.05% |
| LCM XVIII Partnership / LCM XVIII LLC 3.73% | 5.05% |
| YORK CLO-4 3.8% | 5.04% |
| Magnetite XII./LLC 3.61% | 5.00% |
| Voya CLO 2018-3/ Voya CLO 2018-3 LLC 3.66% | 5.00% |
Upturn AI Summary
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.
All company names, trademarks, logos, and brands are the property of their respective owners and are used for identification and informational purposes only. Use of these names, trademarks, and logos does not imply endorsement by their respective owners.