PAAA Stock Discussion

PGIM AAA CLO ETF Description

Under normal circumstances, the fund invests at least 80% of its investable assets in U.S. dollar-denominated collateralized loan obligations ("CLOs") that are, at the time of purchase, rated AAA (or equivalent) by at least one nationally recognized statistical rating organization ("NRSRO") or, if unrated, determined by the subadviser to be of comparable quality. The fund is non-diversified.

Keywords: Bond Market Collateralized Loan Obligation Credit Rating Nationally Recognized Statistical Rating Organization Bond Credit Rating