BIZD vs. JAAA
BIZD (VanEck BDC Income ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index, while JAAA is a CLO fund actively managed by Janus Henderson. BIZD is passively managed, while JAAA is actively managed. Over the past 5 years, BIZD returned 3.86%/yr vs 4.80%/yr for JAAA. At a 0.07 correlation, their price movements are largely independent. BIZD charges 12.86%/yr vs 0.20%/yr for JAAA.
Performance
BIZD vs. JAAA - Performance Comparison
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Returns By Period
In the year-to-date period, BIZD achieves a -8.77% return, which is significantly lower than JAAA's 1.95% return.
BIZD
- 1D
- -0.32%
- 1M
- -3.49%
- YTD
- -8.77%
- 6M
- -11.00%
- 1Y
- -13.11%
- 3Y*
- 4.91%
- 5Y*
- 3.86%
- 10Y*
- 7.80%
JAAA
- 1D
- 0.02%
- 1M
- 0.35%
- YTD
- 1.95%
- 6M
- 2.57%
- 1Y
- 5.12%
- 3Y*
- 6.67%
- 5Y*
- 4.80%
- 10Y*
- —
BIZD vs. JAAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | -8.77% | -4.96% | 15.63% | 27.02% | -8.51% | 36.25% | 20.35% |
JAAA Janus Henderson AAA CLO ETF | 1.95% | 5.16% | 7.43% | 8.59% | 0.49% | 1.39% | 0.79% |
Correlation
The correlation between BIZD and JAAA is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2020 | 0.07 |
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Return for Risk
BIZD vs. JAAA — Risk / Return Rank
BIZD
JAAA
BIZD vs. JAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck BDC Income ETF (BIZD) 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.
| BIZD | JAAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.87 | ||
| Sortino ratioReturn per unit of downside risk | -11.24 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 2.77 | -1.87 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 13.24 | -13.83 |
| Martin ratioReturn relative to average drawdown | -1.03 | 71.21 | -72.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BIZD | JAAA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.72 | 6.15 | -6.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 2.88 | -2.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 2.78 | -2.48 |
Drawdowns
BIZD vs. JAAA - Drawdown Comparison
The maximum BIZD drawdown since its inception was -55.44%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for BIZD and JAAA.
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Drawdown Indicators
| BIZD | JAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.44% | -2.64% | -52.80% |
Max Drawdown (1Y)Largest decline over 1 year | -22.22% | -0.39% | -21.83% |
Max Drawdown (3Y)Largest decline over 3 years | -22.56% | -1.46% | -21.10% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | -2.64% | -20.27% |
Max Drawdown (10Y)Largest decline over 10 years | -55.44% | — | — |
Current DrawdownCurrent decline from peak | -19.08% | 0.00% | -19.08% |
Average DrawdownAverage peak-to-trough decline | -6.73% | -0.25% | -6.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.79% | 0.07% | +12.72% |
Volatility
BIZD vs. JAAA - Volatility Comparison
VanEck BDC Income ETF (BIZD) has a higher volatility of 5.32% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.13%. This indicates that BIZD'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
| BIZD | JAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 0.13% | +5.19% |
Volatility (6M)Calculated over the trailing 6-month period | 14.92% | 0.64% | +14.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.31% | 0.84% | +17.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.44% | 1.68% | +15.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.76% | 1.64% | +20.12% |
BIZD vs. JAAA - Expense Ratio Comparison
BIZD has a 12.86% expense ratio, which is higher than JAAA's 0.20% expense ratio.
Dividends
BIZD vs. JAAA - Dividend Comparison
BIZD's dividend yield for the trailing twelve months is around 13.84%, more than JAAA's 4.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIZD VanEck BDC Income ETF | 13.84% | 11.78% | 10.94% | 10.96% | 11.21% | 8.14% | 10.39% | 9.13% | 10.88% | 9.13% | 8.51% | 9.12% |
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
BIZD and JAAA have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIZD has higher volatility (5.32%) compared to JAAA (0.13%). In terms of maximum drawdown, BIZD dropped -55.44% vs JAAA's -2.64%.
On 5-year performance, JAAA leads with 4.80% vs 3.86% for BIZD. On fees, JAAA is cheaper at 0.20% per year. On volatility, JAAA has been the lower-risk option at 0.13%. 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 4.80% return vs 3.86%. 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 12.86% for BIZD.
BIZD has the higher dividend yield at 13.84%, compared with 4.99% for JAAA.
BIZD is categorized as Financials Equities, while JAAA is CLO. They also come from different issuers: VanEck and Janus Henderson. Their fees differ too: 12.86% for BIZD and 0.20% for JAAA.
JAAA currently has the higher Sharpe Ratio (6.15 vs -0.72), 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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