BSJU vs. AAA

Last updated Jun 24, 2026

BSJU (Invesco Bulletshares 2030 High Yield Corporate Bond ETF) and AAA (AAF First Priority CLO Bond ETF) are both exchange-traded funds - BSJU is a High Yield Bonds fund tracking the Invesco BulletShares High Yield Corporate Bond 2030 Index, while AAA is a CLO fund actively managed by Alternative Access Funds LLC. BSJU is passively managed, while AAA is actively managed. Over the past 3 years, BSJU returned 9.06%/yr vs 6.34%/yr for AAA. At a 0.02 correlation, their price movements are largely independent. BSJU charges 0.42%/yr vs 0.25%/yr for AAA.

Performance

BSJU vs. AAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Bulletshares 2030 High Yield Corporate Bond ETF (BSJU) and AAF First Priority CLO Bond ETF (AAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with BSJU having a 1.91% return and AAA slightly higher at 1.98%.

BSJU

• 1D: 0.00%
• 1M: 0.69%
• YTD: 1.91%
• 6M: 2.02%
• 1Y: 6.57%
• 3Y*: 9.06%
• 5Y*: —
• 10Y*: —

AAA

• 1D: -0.07%
• 1M: 0.55%
• YTD: 1.98%
• 6M: 2.06%
• 1Y: 4.96%
• 3Y*: 6.34%
• 5Y*: 4.64%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BSJU vs. AAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BSJU Invesco Bulletshares 2030 High Yield Corporate Bond ETF	1.91%	8.58%	8.20%	12.91%	-2.11%
AAA AAF First Priority CLO Bond ETF	1.98%	4.92%	6.85%	8.94%	1.75%

Correlation

The correlation between BSJU and AAA is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022	0.02

Return for Risk

BSJU vs. AAA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BSJU

BSJU Risk / Return Rank: 58
BSJU Sharpe Ratio Rank: 52
BSJU Sortino Ratio Rank: 57
BSJU Omega Ratio Rank: 55
BSJU Calmar Ratio Rank: 57
BSJU Martin Ratio Rank: 70

AAA

AAA Risk / Return Rank: 84
AAA Sharpe Ratio Rank: 70
AAA Sortino Ratio Rank: 86
AAA Omega Ratio Rank: 76
AAA Calmar Ratio Rank: 96
AAA Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BSJU vs. AAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Bulletshares 2030 High Yield Corporate Bond ETF (BSJU) and AAF First Priority CLO Bond ETF (AAA). 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.

	BSJU	AAA	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.15	-0.48
Sortino ratio: Return per unit of downside risk	2.54	3.63	-1.09
Omega ratio: Gain probability vs. loss probability	1.32	1.42	-0.10
Calmar ratio: Return relative to maximum drawdown	2.61	8.26	-5.66
Martin ratio: Return relative to average drawdown	12.07	24.40	-12.33

BSJU vs. AAA - Sharpe Ratio Comparison

The current BSJU Sharpe Ratio is 1.67, which is comparable to the AAA Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of BSJU and AAA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BSJU vs. AAA - Drawdown Comparison

The maximum BSJU drawdown since its inception was -7.51%, which is greater than AAA's maximum drawdown of -2.63%. Use the drawdown chart below to compare losses from any high point for BSJU and AAA.

Drawdown Indicators

	BSJU	AAA	Difference
Max Drawdown Largest peak-to-trough decline	-7.51%	-2.63%	-4.88%
Max Drawdown (1Y) Largest decline over 1 year	-2.53%	-0.60%	-1.93%
Max Drawdown (3Y) Largest decline over 3 years	-5.12%	-2.40%	-2.72%
Max Drawdown (5Y) Largest decline over 5 years	—	-2.63%	—
Current Drawdown Current decline from peak	-0.14%	-0.10%	-0.04%
Average Drawdown Average peak-to-trough decline	-1.07%	-0.31%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	0.20%	+0.35%

Volatility

BSJU vs. AAA - Volatility Comparison

Invesco Bulletshares 2030 High Yield Corporate Bond ETF (BSJU) has a higher volatility of 1.04% compared to AAF First Priority CLO Bond ETF (AAA) at 0.77%. This indicates that BSJU's price experiences larger fluctuations and is considered to be riskier than AAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSJU	AAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	0.77%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	3.12%	1.78%	+1.34%
Volatility (1Y) Calculated over the trailing 1-year period	3.95%	2.32%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.86%	2.29%	+5.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.86%	2.15%	+5.71%

BSJU vs. AAA - Expense Ratio Comparison

BSJU has a 0.42% expense ratio, which is higher than AAA's 0.25% expense ratio.

Dividends

BSJU vs. AAA - Dividend Comparison

BSJU's dividend yield for the trailing twelve months is around 6.65%, more than AAA's 4.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
AAA AAF First Priority CLO Bond ETF	4.90%	5.11%	6.17%	6.11%	2.78%	1.06%	0.32%
BSJU Invesco Bulletshares 2030 High Yield Corporate Bond ETF	6.65%	6.52%	7.08%	6.74%	2.38%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BSJU and AAA in my portfolio?

BSJU and AAA have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSJU or AAA?

BSJU has higher volatility (1.04%) compared to AAA (0.77%). In terms of maximum drawdown, BSJU dropped -7.51% vs AAA's -2.63%.

Which ETF is better, BSJU or AAA?

On 3-year performance, BSJU leads with 9.06% vs 6.34% for AAA. On fees, AAA is cheaper at 0.25% per year. On volatility, AAA has been the lower-risk option at 0.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSJU or AAA?

Over the 3-year period, BSJU has performed better with a 9.06% return vs 6.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSJU or AAA?

AAA is cheaper with a 0.25% expense ratio, compared with 0.42% for BSJU.

Which ETF pays a higher dividend yield, BSJU or AAA?

BSJU has the higher dividend yield at 6.65%, compared with 4.90% for AAA.

What is the main difference between BSJU and AAA?

BSJU is categorized as High Yield Bonds, while AAA is CLO. They also come from different issuers: Invesco and Alternative Access Funds LLC. Their fees differ too: 0.42% for BSJU and 0.25% for AAA.

Which has better risk-adjusted returns?

AAA currently has the higher Sharpe Ratio (2.15 vs 1.67), 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.