DOC vs. JAAA

Last updated Jun 5, 2026

DOC (Physicians Realty Trust) is a stock, while JAAA (Janus Henderson AAA CLO ETF) is CLO fund actively managed by Janus Henderson. Over the past 5 years, DOC returned -5.23%/yr vs 4.79%/yr for JAAA. At a 0.08 correlation, their price movements are largely independent.

Performance

DOC vs. JAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Physicians Realty Trust (DOC) 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, DOC achieves a 25.50% return, which is significantly higher than JAAA's 1.89% return.

DOC

• 1D: 2.78%
• 1M: 19.34%
• YTD: 25.50%
• 6M: 18.19%
• 1Y: 22.87%
• 3Y*: 4.79%
• 5Y*: -5.23%
• 10Y*: -0.07%

JAAA

• 1D: 0.02%
• 1M: 0.37%
• YTD: 1.89%
• 6M: 2.47%
• 1Y: 5.10%
• 3Y*: 6.70%
• 5Y*: 4.79%
• 10Y*: —

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

DOC vs. JAAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DOC Physicians Realty Trust	25.50%	-15.17%	8.79%	-16.40%	-27.53%	23.74%	15.37%
JAAA Janus Henderson AAA CLO ETF	1.89%	5.16%	7.43%	8.59%	0.49%	1.39%	0.79%

Correlation

The correlation between DOC and JAAA is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since Oct 20, 2020	0.08

The correlation between DOC and JAAA shifts across timeframes, from 0.08 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DOC vs. JAAA — Risk / Return Rank

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

DOC

DOC Risk / Return Rank: 65
DOC Sharpe Ratio Rank: 67
DOC Sortino Ratio Rank: 65
DOC Omega Ratio Rank: 63
DOC Calmar Ratio Rank: 67
DOC Martin Ratio Rank: 66

JAAA

JAAA Risk / Return Rank: 98
JAAA Sharpe Ratio Rank: 98
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.

DOC vs. JAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Physicians Realty Trust (DOC) 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.

	DOC	JAAA	Difference
Sharpe ratio: Return per unit of total volatility	0.78	6.04	-5.26
Sortino ratio: Return per unit of downside risk	1.46	10.13	-8.68
Omega ratio: Gain probability vs. loss probability	1.18	2.71	-1.53
Calmar ratio: Return relative to maximum drawdown	1.34	13.18	-11.84
Martin ratio: Return relative to average drawdown	2.80	70.92	-68.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DOC vs. JAAA - Sharpe Ratio Comparison

The current DOC Sharpe Ratio is 0.78, which is lower than the JAAA Sharpe Ratio of 6.04. The chart below compares the historical Sharpe Ratios of DOC 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.

Sharpe Ratios by Period

	DOC	JAAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	6.04	-5.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.20	2.87	-3.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	2.78	-2.43

Drawdowns

DOC vs. JAAA - Drawdown Comparison

The maximum DOC drawdown since its inception was -61.03%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for DOC and JAAA.

Drawdown Indicators

	DOC	JAAA	Difference
Max Drawdown Largest peak-to-trough decline	-61.03%	-2.64%	-58.39%
Max Drawdown (1Y) Largest decline over 1 year	-17.09%	-0.39%	-16.70%
Max Drawdown (3Y) Largest decline over 3 years	-29.00%	-1.46%	-27.54%
Max Drawdown (5Y) Largest decline over 5 years	-54.07%	-2.64%	-51.43%
Max Drawdown (10Y) Largest decline over 10 years	-54.07%	—	—
Current Drawdown Current decline from peak	-31.07%	-0.00%	-31.07%
Average Drawdown Average peak-to-trough decline	-14.83%	-0.25%	-14.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.18%	0.07%	+8.11%

Volatility

DOC vs. JAAA - Volatility Comparison

Physicians Realty Trust (DOC) has a higher volatility of 17.72% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.13%. This indicates that DOC'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

	DOC	JAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.72%	0.13%	+17.59%
Volatility (6M) Calculated over the trailing 6-month period	23.58%	0.64%	+22.94%
Volatility (1Y) Calculated over the trailing 1-year period	29.33%	0.85%	+28.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.31%	1.68%	+24.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.61%	1.64%	+27.97%

Dividends

DOC vs. JAAA - Dividend Comparison

DOC's dividend yield for the trailing twelve months is around 6.22%, more than JAAA's 5.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DOC Physicians Realty Trust	6.22%	7.59%	5.92%	6.06%	4.79%	3.33%	4.90%	4.29%	5.30%	5.67%	7.05%	5.91%
JAAA Janus Henderson AAA CLO ETF	5.00%	5.30%	6.35%	6.11%	2.74%	1.21%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DOC and JAAA in my portfolio?

DOC and JAAA have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DOC or JAAA?

DOC has higher volatility (17.72%) compared to JAAA (0.13%). In terms of maximum drawdown, DOC dropped -61.03% vs JAAA's -2.64%.

Which has better risk-adjusted returns?

JAAA currently has the higher Sharpe Ratio (6.04 vs 0.78), 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.