CLOO vs. JAAA

Last updated Jul 28, 2026

CLOO (NYLI Investment Grade CLO ETF) and JAAA (Janus Henderson AAA CLO ETF) are both CLO funds. Both are actively managed. Their 0.07 correlation means their historical movements had little consistent relationship. CLOO charges 0.25%/yr vs 0.20%/yr for JAAA.

Performance

CLOO vs. JAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI Investment Grade CLO ETF (CLOO) and Janus Henderson AAA CLO ETF (JAAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CLOO

• 1D: 0.04%
• 1M: 0.40%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

JAAA

• 1D: 0.02%
• 1M: 0.38%
• 6M: 2.13%
• YTD: 2.52%
• 1Y: 4.93%
• 3Y*: 6.24%
• 5Y*: 4.87%
• 10Y*: —
• ALL TIME*: 4.53%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CLOO NYLI Investment Grade CLO ETF	$7.64K	$259.67K	$370.21K
JAAA Janus Henderson AAA CLO ETF	$222.76M	$240.80M	$259.24M

CLOO vs. JAAA - Yearly Performance Comparison

	2026 (YTD)
CLOO NYLI Investment Grade CLO ETF	1.26%
JAAA Janus Henderson AAA CLO ETF	0.99%

Correlation

The correlation between CLOO and JAAA is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 6, 2026	0.07

Return for Risk

CLOO vs. JAAA — Risk / Return Rank

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

CLOO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

JAAA

JAAA Risk / Return Rank: 99
JAAA Sharpe Ratio Rank: 99
JAAA Sortino Ratio Rank: 99
JAAA Omega Ratio Rank: 99
JAAA Calmar Ratio Rank: 98
JAAA Martin Ratio Rank: 98

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.

CLOO vs. JAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI Investment Grade CLO ETF (CLOO) 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.

	CLOO	JAAA	Difference
Sharpe ratio: Return per unit of total volatility	—	6.22	—
Sortino ratio: Return per unit of downside risk	—	10.26	—
Omega ratio: Gain probability vs. loss probability	—	2.84	—
Calmar ratio: Return relative to maximum drawdown	—	12.74	—
Martin ratio: Return relative to average drawdown	—	69.23	—

Drawdowns

CLOO vs. JAAA - Drawdown Comparison

The maximum CLOO drawdown since its inception was -0.04%, smaller than the maximum JAAA drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for CLOO and JAAA.

Drawdown Indicators

	CLOO	JAAA	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-2.64%	+2.60%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.39%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.64%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	-0.24%	+0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.07%	—

Volatility

Volatility by Period

	CLOO	JAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.62%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.45%	0.80%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.45%	1.66%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.45%	1.62%	-1.17%

CLOO vs. JAAA - Expense Ratio Comparison

CLOO has a 0.25% expense ratio, which is higher than JAAA's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CLOO vs. JAAA - Dividend Comparison

CLOO's dividend yield for the trailing twelve months is around 0.59%, less than JAAA's 4.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CLOO NYLI Investment Grade CLO ETF	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JAAA Janus Henderson AAA CLO ETF	4.94%	5.30%	6.35%	6.11%	2.74%	1.21%	0.26%

Frequently Asked Questions

Can I hold both CLOO and JAAA in my portfolio?

CLOO and JAAA 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 ETF is better, CLOO or JAAA?

On fees, JAAA is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLOO or JAAA?

JAAA is cheaper with a 0.20% expense ratio, compared with 0.25% for CLOO.

Which ETF pays a higher dividend yield, CLOO or JAAA?

JAAA has the higher dividend yield at 4.94%, compared with 0.59% for CLOO.

What is the main difference between CLOO and JAAA?

They also come from different issuers: New York Life Investment Management and Janus Henderson. Their fees differ too: 0.25% for CLOO and 0.20% for JAAA.