ANGL vs. JAAA
ANGL (VanEck Vectors Fallen Angel High Yield Bond ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - ANGL is a High Yield Bonds fund tracking the BofA Merrill Lynch US Fallen Angel High Yield Index, while JAAA is a CLO fund actively managed by Janus Henderson. ANGL is passively managed, while JAAA is actively managed. Over the past 5 years, ANGL returned 3.32%/yr vs 4.76%/yr for JAAA. At a 0.11 correlation, their price movements are largely independent. ANGL charges 0.35%/yr vs 0.20%/yr for JAAA.
Performance
ANGL vs. JAAA - Performance Comparison
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Returns By Period
In the year-to-date period, ANGL achieves a 1.87% return, which is significantly lower than JAAA's 1.99% return.
ANGL
- 1D
- 0.03%
- 1M
- 0.91%
- YTD
- 1.87%
- 6M
- 2.30%
- 1Y
- 7.44%
- 3Y*
- 8.49%
- 5Y*
- 3.32%
- 10Y*
- 6.28%
JAAA
- 1D
- 0.02%
- 1M
- 0.33%
- YTD
- 1.99%
- 6M
- 2.49%
- 1Y
- 4.99%
- 3Y*
- 6.67%
- 5Y*
- 4.76%
- 10Y*
- —
ANGL vs. JAAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 1.87% | 9.04% | 6.06% | 12.52% | -14.26% | 6.84% | 8.40% |
JAAA Janus Henderson AAA CLO ETF | 1.99% | 5.16% | 7.43% | 8.59% | 0.49% | 1.39% | 0.76% |
Correlation
The correlation between ANGL and JAAA is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2020 | 0.11 |
The correlation between ANGL and JAAA shifts across timeframes, from 0.11 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ANGL vs. JAAA — Risk / Return Rank
ANGL
JAAA
ANGL vs. JAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) and Janus Henderson AAA CLO ETF (JAAA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ANGL | JAAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.31 | ||
| Sortino ratioReturn per unit of downside risk | -7.61 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 2.72 | -1.39 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 12.91 | -11.07 |
| Martin ratioReturn relative to average drawdown | 7.72 | 69.57 | -61.85 |
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Drawdowns
ANGL vs. JAAA - Drawdown Comparison
The maximum ANGL drawdown since its inception was -29.31%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for ANGL and JAAA.
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Drawdown Indicators
| ANGL | JAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.31% | -2.64% | -26.67% |
Max Drawdown (1Y)Largest decline over 1 year | -4.05% | -0.39% | -3.66% |
Max Drawdown (3Y)Largest decline over 3 years | -5.48% | -1.46% | -4.02% |
Max Drawdown (5Y)Largest decline over 5 years | -19.25% | -2.64% | -16.61% |
Max Drawdown (10Y)Largest decline over 10 years | -29.31% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.29% | -0.25% | -3.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.07% | +0.90% |
Volatility
ANGL vs. JAAA - Volatility Comparison
VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) has a higher volatility of 1.45% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.12%. This indicates that ANGL's price experiences larger fluctuations and is considered to be riskier than JAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ANGL | JAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 0.12% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 3.54% | 0.63% | +2.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 0.83% | +3.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.63% | 1.67% | +5.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.28% | 1.64% | +7.64% |
ANGL vs. JAAA - Expense Ratio Comparison
ANGL has a 0.35% expense ratio, which is higher than JAAA's 0.20% expense ratio.
Dividends
ANGL vs. JAAA - Dividend Comparison
ANGL's dividend yield for the trailing twelve months is around 6.35%, more than JAAA's 4.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 6.35% | 6.20% | 6.29% | 5.27% | 4.72% | 3.90% | 4.67% | 5.19% | 5.99% | 5.25% | 5.34% | 5.81% |
JAAA Janus Henderson AAA CLO ETF | 4.99% | 5.30% | 6.35% | 6.11% | 2.74% | 1.21% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ANGL and JAAA have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ANGL has higher volatility (1.45%) compared to JAAA (0.12%). In terms of maximum drawdown, ANGL dropped -29.31% vs JAAA's -2.64%.
On 5-year performance, JAAA leads with 4.76% vs 3.32% for ANGL. On fees, JAAA is cheaper at 0.20% per year. On volatility, JAAA has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JAAA has performed better with a 4.76% return vs 3.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JAAA is cheaper with a 0.20% expense ratio, compared with 0.35% for ANGL.
ANGL has the higher dividend yield at 6.35%, compared with 4.99% for JAAA.
ANGL is categorized as High Yield Bonds, while JAAA is CLO. They also come from different issuers: VanEck and Janus Henderson. Their fees differ too: 0.35% for ANGL and 0.20% for JAAA.
JAAA currently has the higher Sharpe Ratio (6.03 vs 1.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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