CLOX vs. JAAA

Last updated Aug 2, 2026

CLOX (Eldridge AAA CLO ETF) and JAAA (Janus Henderson AAA CLO ETF) are both CLO funds. Both are actively managed. Over the past 3 years, CLOX returned 6.16%/yr vs 6.20%/yr for JAAA. Their 0.12 correlation means their historical movements had little consistent relationship. Both charge a 0.20% expense ratio.

Performance

CLOX vs. JAAA - Performance Comparison

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

Returns By Period

In the year-to-date period, CLOX achieves a 2.77% return, which is significantly higher than JAAA's 2.60% return.

CLOX

• 1D: 0.02%
• 1M: 0.11%
• 6M: 2.30%
• YTD: 2.77%
• 1Y: 5.23%
• 3Y*: 6.16%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.39%

JAAA

• 1D: 0.06%
• 1M: 0.30%
• 6M: 2.05%
• YTD: 2.60%
• 1Y: 4.89%
• 3Y*: 6.20%
• 5Y*: 4.88%
• 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)
CLOX Eldridge AAA CLO ETF	$4.44M	$3.63M	$4.03M
JAAA Janus Henderson AAA CLO ETF	$257.93M	$255.22M	$259.12M

CLOX vs. JAAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLOX Eldridge AAA CLO ETF	2.77%	5.52%	7.16%	3.85%
JAAA Janus Henderson AAA CLO ETF	2.60%	5.16%	7.43%	4.23%

Correlation

The correlation between CLOX and JAAA is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.09
Correlation (3Y) Balances recent behavior with more history.	0.11
Correlation (All Time) Calculated using the full available price history since Jul 19, 2023	0.12

Return for Risk

CLOX vs. JAAA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CLOX

CLOX Risk / Return Rank: 98
CLOX Sharpe Ratio Rank: 98
CLOX Sortino Ratio Rank: 98
CLOX Omega Ratio Rank: 98
CLOX Calmar Ratio Rank: 97
CLOX Martin Ratio Rank: 98

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: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CLOX vs. JAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eldridge AAA CLO ETF (CLOX) 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.

	CLOX	JAAA	Difference
Sharpe ratio: Return per unit of total volatility	4.14	6.19	-2.04
Sortino ratio: Return per unit of downside risk	6.83	10.21	-3.38
Omega ratio: Gain probability vs. loss probability	2.04	2.84	-0.80
Calmar ratio: Return relative to maximum drawdown	7.93	12.63	-4.70
Martin ratio: Return relative to average drawdown	41.18	68.67	-27.49

CLOX vs. JAAA - Sharpe Ratio Comparison

The current CLOX Sharpe Ratio is 4.14, which is lower than the JAAA Sharpe Ratio of 6.19. The chart below compares the historical Sharpe Ratios of CLOX 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.

Drawdowns

CLOX vs. JAAA - Drawdown Comparison

The maximum CLOX drawdown since its inception was -4.13%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for CLOX and JAAA.

Drawdown Indicators

	CLOX	JAAA	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	-2.64%	-1.49%
Max Drawdown (1Y) Largest decline over 1 year	-0.66%	-0.39%	-0.27%
Max Drawdown (3Y) Largest decline over 3 years	-4.13%	-1.46%	-2.67%
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	-0.08%	-0.24%	+0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.13%	0.07%	+0.06%

Volatility

CLOX vs. JAAA - Volatility Comparison

Eldridge AAA CLO ETF (CLOX) has a higher volatility of 0.31% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.16%. This indicates that CLOX'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.

Volatility by Period

	CLOX	JAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.31%	0.16%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	0.93%	0.62%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	1.26%	0.79%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.25%	1.66%	+1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.25%	1.62%	+1.63%

CLOX vs. JAAA - Expense Ratio Comparison

Both CLOX and JAAA have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

CLOX vs. JAAA - Dividend Comparison

CLOX's dividend yield for the trailing twelve months is around 4.94%, less than JAAA's 5.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CLOX Eldridge AAA CLO ETF	4.94%	5.18%	6.25%	2.90%	0.00%	0.00%	0.00%
JAAA Janus Henderson AAA CLO ETF	4.93%	5.30%	6.35%	6.11%	2.74%	1.21%	0.26%

Frequently Asked Questions

Can I hold both CLOX and JAAA in my portfolio?

CLOX and JAAA have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLOX or JAAA?

CLOX has higher volatility (0.31%) compared to JAAA (0.16%). In terms of maximum drawdown, CLOX dropped -4.13% vs JAAA's -2.64%.

Which ETF is better, CLOX or JAAA?

On 3-year performance, JAAA leads with 6.20% vs 6.16% for CLOX. Both ETFs have the same 0.20% expense ratio. On volatility, JAAA has been the lower-risk option at 0.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLOX or JAAA?

Over the 3-year period, JAAA has performed better with a 6.20% return vs 6.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLOX or JAAA?

CLOX and JAAA have the same expense ratio: 0.20% per year.

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

CLOX has the higher dividend yield at 4.94%, compared with 4.93% for JAAA.

What is the main difference between CLOX and JAAA?

They also come from different issuers: Eldridge and Janus Henderson.

Which has better risk-adjusted returns?

JAAA currently has the higher Sharpe Ratio (6.19 vs 4.14), 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.