DFAX vs. JAAA

Last updated Apr 1, 2026

Compare and contrast key facts about Dimensional World ex US Core Equity 2 ETF (DFAX) and Janus Henderson AAA CLO ETF (JAAA).

DFAX and JAAA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFAX is a passively managed fund by Dimensional that tracks the performance of the MSCI All Country World ex USA Index. It was launched on Mar 6, 2008. JAAA is an actively managed fund by Janus Henderson. It was launched on Oct 16, 2020.

Performance

DFAX vs. JAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional World ex US Core Equity 2 ETF (DFAX) and Janus Henderson AAA CLO ETF (JAAA). The values are adjusted to include any dividend payments, if applicable.

DFAX vs. JAAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFAX Dimensional World ex US Core Equity 2 ETF	3.97%	35.42%	4.78%	16.66%	-14.48%	-2.68%
JAAA Janus Henderson AAA CLO ETF	0.73%	5.16%	7.43%	8.59%	0.49%	0.22%

Returns By Period

In the year-to-date period, DFAX achieves a 3.97% return, which is significantly higher than JAAA's 0.73% return.

DFAX

• 1D: 3.06%
• 1M: -8.01%
• YTD: 3.97%
• 6M: 9.21%
• 1Y: 33.25%
• 3Y*: 17.18%
• 5Y*: —
• 10Y*: —

JAAA

• 1D: 0.12%
• 1M: 0.38%
• YTD: 0.73%
• 6M: 2.11%
• 1Y: 5.05%
• 3Y*: 6.82%
• 5Y*: 4.57%
• 10Y*: —

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

DFAX vs. JAAA - Expense Ratio Comparison

DFAX has a 0.30% expense ratio, which is higher than JAAA's 0.21% expense ratio.

DFAX

Dimensional World ex US Core Equity 2 ETF

JAAA

Janus Henderson AAA CLO ETF

Return for Risk

DFAX vs. JAAA — Risk / Return Rank

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

DFAX

DFAX Risk / Return Rank: 91
DFAX Sharpe Ratio Rank: 91
DFAX Sortino Ratio Rank: 92
DFAX Omega Ratio Rank: 93
DFAX Calmar Ratio Rank: 90
DFAX Martin Ratio Rank: 90

JAAA

JAAA Risk / Return Rank: 97
JAAA Sharpe Ratio Rank: 97
JAAA Sortino Ratio Rank: 97
JAAA Omega Ratio Rank: 98
JAAA Calmar Ratio Rank: 94
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.

DFAX vs. JAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional World ex US Core Equity 2 ETF (DFAX) 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.

	DFAX	JAAA	Difference
Sharpe ratio Return per unit of total volatility	1.98	2.80	-0.82
Sortino ratio Return per unit of downside risk	2.62	3.60	-0.98
Omega ratio Gain probability vs. loss probability	1.41	1.91	-0.51
Calmar ratio Return relative to maximum drawdown	2.84	3.54	-0.70
Martin ratio Return relative to average drawdown	11.22	24.70	-13.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFAX vs. JAAA - Sharpe Ratio Comparison

The current DFAX Sharpe Ratio is 1.98, which is comparable to the JAAA Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of DFAX and JAAA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DFAX	JAAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	2.80	-0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	2.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	2.70	-2.17

Correlation

The correlation between DFAX and JAAA is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

DFAX vs. JAAA - Dividend Comparison

DFAX's dividend yield for the trailing twelve months is around 2.46%, less than JAAA's 5.62% yield.

	TTM	2025	2024	2023	2022	2021	2020
DFAX Dimensional World ex US Core Equity 2 ETF	2.46%	2.58%	2.98%	3.01%	3.30%	1.40%	0.00%
JAAA Janus Henderson AAA CLO ETF	5.15%	5.30%	6.35%	6.11%	2.74%	1.21%	0.26%

Drawdowns

DFAX vs. JAAA - Drawdown Comparison

The maximum DFAX drawdown since its inception was -28.15%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for DFAX and JAAA.

Drawdown Indicators

	DFAX	JAAA	Difference
Max Drawdown Largest peak-to-trough decline	-28.15%	-2.64%	-25.51%
Max Drawdown (1Y) Largest decline over 1 year	-11.31%	-1.46%	-9.85%
Max Drawdown (5Y) Largest decline over 5 years	—	-2.64%	—
Current Drawdown Current decline from peak	-8.28%	-0.03%	-8.25%
Average Drawdown Average peak-to-trough decline	-6.86%	-0.26%	-6.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	0.21%	+2.66%

Volatility

DFAX vs. JAAA - Volatility Comparison

Dimensional World ex US Core Equity 2 ETF (DFAX) has a higher volatility of 8.05% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.41%. This indicates that DFAX'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

	DFAX	JAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.05%	0.41%	+7.64%
Volatility (6M) Calculated over the trailing 6-month period	11.27%	0.68%	+10.59%
Volatility (1Y) Calculated over the trailing 1-year period	16.86%	1.81%	+15.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.86%	1.69%	+14.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.86%	1.67%	+14.19%