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CBLDX vs. JAAA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CBLDX vs. JAAA

Last updated Jun 23, 2026

CBLDX (CrossingBridge Low Duration High Yield Fund) and JAAA (Janus Henderson AAA CLO ETF) are both funds - CBLDX is a Multisector Bonds fund managed by CrossingBridge, while JAAA is a CLO fund actively managed by Janus Henderson. Over the past 5 years, CBLDX returned 5.22%/yr vs 4.82%/yr for JAAA. At a 0.11 correlation, their price movements are largely independent. CBLDX charges 0.88%/yr vs 0.20%/yr for JAAA.

Performance

CBLDX vs. JAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CrossingBridge Low Duration High Yield Fund (CBLDX) and Janus Henderson AAA CLO ETF (JAAA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CBLDX achieves a 1.83% return, which is significantly lower than JAAA's 2.09% return.

CBLDX

1D
0.00%
1M
0.45%
YTD
1.83%
6M
2.29%
1Y
4.95%
3Y*
6.49%
5Y*
5.22%
10Y*
—

JAAA

1D
0.02%
1M
0.31%
YTD
2.09%
6M
2.37%
1Y
5.12%
3Y*
6.59%
5Y*
4.82%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CBLDX vs. JAAA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
CBLDX
CrossingBridge Low Duration High Yield Fund		1.83%6.04%7.11%7.71%0.66%7.44%2.21%
JAAA
Janus Henderson AAA CLO ETF		2.09%5.16%7.43%8.59%0.49%1.39%0.76%

Correlation

The correlation between CBLDX and JAAA is 0.08, 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

0.08

Correlation (3Y)
Calculated over the trailing 3-year period

0.09

Correlation (5Y)
Calculated over the trailing 5-year period

0.10

Correlation (All Time)
Calculated using the full available price history since Oct 19, 2020

0.11

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

CrossingBridge Low Duration High Yield Fund

Janus Henderson AAA CLO ETF

Often compared with CBLDX:
CBLDX vs. PIMIXCBLDX vs. ICMUXCBLDX vs. CLOZCBLDX vs. SEIXCBLDX vs. SWVXXCBLDX vs. FFRHXCBLDX vs. MNHYX
Often compared with JAAA:
JAAA vs. PAAAJAAA vs. JBBBJAAA vs. AAAJAAA vs. CLOZJAAA vs. BINCJAAA vs. SGOVJAAA vs. BOXX

Return for Risk

CBLDX vs. JAAA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CBLDX
CBLDX Risk / Return Rank: 9797
Overall Rank
CBLDX Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
CBLDX Sortino Ratio Rank: 9797
Sortino Ratio Rank
CBLDX Omega Ratio Rank: 9898
Omega Ratio Rank
CBLDX Calmar Ratio Rank: 9797
Calmar Ratio Rank
CBLDX Martin Ratio Rank: 9898
Martin Ratio Rank
JAAA
JAAA Risk / Return Rank: 9898
Overall Rank
JAAA Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
JAAA Sortino Ratio Rank: 9999
Sortino Ratio Rank
JAAA Omega Ratio Rank: 9999
Omega Ratio Rank
JAAA Calmar Ratio Rank: 9898
Calmar Ratio Rank
JAAA Martin Ratio Rank: 9898
Martin Ratio Rank
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.

CBLDX vs. JAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CrossingBridge Low Duration High Yield Fund (CBLDX) 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.

CBLDXJAAADifference
Sharpe ratioReturn per unit of total volatility
3.56
6.19

-2.63

Sortino ratioReturn per unit of downside risk
5.27
10.34

-5.08

Omega ratioGain probability vs. loss probability

2.07

2.79

-0.72

Calmar ratioReturn relative to maximum drawdown

6.84

13.24

-6.39

Martin ratioReturn relative to average drawdown

27.18

71.33

-44.15

CBLDX vs. JAAA - Sharpe Ratio Comparison

The current CBLDX Sharpe Ratio is 3.56, which is lower than the JAAA Sharpe Ratio of 6.19. The chart below compares the historical Sharpe Ratios of CBLDX and JAAA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

CBLDX vs. JAAA - Drawdown Comparison

The maximum CBLDX drawdown since its inception was -8.15%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for CBLDX and JAAA.

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Drawdown Indicators

CBLDXJAAADifference

Max Drawdown

Largest peak-to-trough decline

-8.15%

-2.64%

-5.51%

Max Drawdown (1Y)

Largest decline over 1 year

-0.73%

-0.39%

-0.34%

Max Drawdown (3Y)

Largest decline over 3 years

-1.05%

-1.46%

+0.41%

Max Drawdown (5Y)

Largest decline over 5 years

-1.88%

-2.64%

+0.76%

Current Drawdown

Current decline from peak

-0.10%

0.00%

-0.10%

Average Drawdown

Average peak-to-trough decline

-0.31%

-0.25%

-0.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.18%

0.07%

+0.11%

Volatility

CBLDX vs. JAAA - Volatility Comparison

CrossingBridge Low Duration High Yield Fund (CBLDX) has a higher volatility of 0.33% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.12%. This indicates that CBLDX'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

CBLDXJAAADifference

Volatility (1M)

Calculated over the trailing 1-month period

0.33%

0.12%

+0.21%

Volatility (6M)

Calculated over the trailing 6-month period

1.14%

0.64%

+0.50%

Volatility (1Y)

Calculated over the trailing 1-year period

1.40%

0.83%

+0.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.59%

1.67%

-0.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.82%

1.64%

+0.18%

CBLDX vs. JAAA - Expense Ratio Comparison

CBLDX has a 0.88% expense ratio, which is higher than JAAA's 0.20% expense ratio.

Dividends

CBLDX vs. JAAA - Dividend Comparison

CBLDX's dividend yield for the trailing twelve months is around 6.22%, more than JAAA's 4.99% yield.

PositionTTM20252024202320222021202020192018
CBLDX
CrossingBridge Low Duration High Yield Fund		6.22%6.43%7.12%7.65%5.07%5.13%3.97%2.85%2.18%
JAAA
Janus Henderson AAA CLO ETF		4.99%5.30%6.35%6.11%2.74%1.21%0.26%0.00%0.00%

Frequently Asked Questions

CBLDX and JAAA have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CBLDX has higher volatility (0.33%) compared to JAAA (0.12%). In terms of maximum drawdown, CBLDX dropped -8.15% vs JAAA's -2.64%.

JAAA currently has the higher Sharpe Ratio (6.19 vs 3.56), 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.

Portfolio Optimizer

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