DYNF vs. JAAA
DYNF (iShares U.S. Equity Factor Rotation Active ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - DYNF is a Large Cap Blend Equities fund actively managed by iShares, while JAAA is a CLO fund actively managed by Janus Henderson. Both are actively managed. Over the past 5 years, DYNF returned 14.62%/yr vs 4.76%/yr for JAAA. At a 0.13 correlation, their price movements are largely independent. DYNF charges 0.26%/yr vs 0.20%/yr for JAAA.
Performance
DYNF vs. JAAA - Performance Comparison
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Returns By Period
In the year-to-date period, DYNF achieves a 9.88% return, which is significantly higher than JAAA's 1.99% return.
DYNF
- 1D
- 0.57%
- 1M
- 0.54%
- YTD
- 9.88%
- 6M
- 10.36%
- 1Y
- 28.69%
- 3Y*
- 24.87%
- 5Y*
- 14.62%
- 10Y*
- —
JAAA
- 1D
- 0.02%
- 1M
- 0.33%
- YTD
- 1.99%
- 6M
- 2.49%
- 1Y
- 5.01%
- 3Y*
- 6.67%
- 5Y*
- 4.76%
- 10Y*
- —
DYNF vs. JAAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DYNF iShares U.S. Equity Factor Rotation Active ETF | 9.88% | 20.00% | 30.29% | 36.25% | -20.27% | 22.12% | 9.11% |
JAAA Janus Henderson AAA CLO ETF | 1.99% | 5.16% | 7.43% | 8.59% | 0.49% | 1.39% | 0.76% |
Correlation
The correlation between DYNF and JAAA is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2020 | 0.13 |
The correlation between DYNF and JAAA shifts across timeframes, from 0.13 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DYNF vs. JAAA — Risk / Return Rank
DYNF
JAAA
DYNF vs. JAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Equity Factor Rotation Active ETF (DYNF) 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.
| DYNF | JAAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.93 | ||
| Sortino ratioReturn per unit of downside risk | -7.24 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 2.72 | -1.35 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 12.91 | -9.76 |
| Martin ratioReturn relative to average drawdown | 14.77 | 69.57 | -54.81 |
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Drawdowns
DYNF vs. JAAA - Drawdown Comparison
The maximum DYNF drawdown since its inception was -34.72%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for DYNF and JAAA.
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Drawdown Indicators
| DYNF | JAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.72% | -2.64% | -32.08% |
Max Drawdown (1Y)Largest decline over 1 year | -8.67% | -0.39% | -8.28% |
Max Drawdown (3Y)Largest decline over 3 years | -18.70% | -1.46% | -17.24% |
Max Drawdown (5Y)Largest decline over 5 years | -28.65% | -2.64% | -26.01% |
Current DrawdownCurrent decline from peak | -2.06% | 0.00% | -2.06% |
Average DrawdownAverage peak-to-trough decline | -5.96% | -0.25% | -5.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 0.07% | +1.78% |
Volatility
DYNF vs. JAAA - Volatility Comparison
iShares U.S. Equity Factor Rotation Active ETF (DYNF) has a higher volatility of 4.91% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.12%. This indicates that DYNF'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
| DYNF | JAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.91% | 0.12% | +4.79% |
Volatility (6M)Calculated over the trailing 6-month period | 10.37% | 0.63% | +9.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 0.83% | +12.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.58% | 1.67% | +15.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.91% | 1.64% | +18.27% |
DYNF vs. JAAA - Expense Ratio Comparison
DYNF has a 0.26% 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
DYNF vs. JAAA - Dividend Comparison
DYNF's dividend yield for the trailing twelve months is around 0.90%, less than JAAA's 4.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
DYNF iShares U.S. Equity Factor Rotation Active ETF | 0.90% | 1.01% | 0.65% | 1.11% | 1.66% | 2.89% | 1.52% | 1.22% |
JAAA Janus Henderson AAA CLO ETF | 4.99% | 5.30% | 6.35% | 6.11% | 2.74% | 1.21% | 0.26% | 0.00% |
Frequently Asked Questions
DYNF and JAAA have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DYNF has higher volatility (4.91%) compared to JAAA (0.12%). In terms of maximum drawdown, DYNF dropped -34.72% vs JAAA's -2.64%.
On 5-year performance, DYNF leads with 14.62% vs 4.76% for JAAA. On fees, JAAA is cheaper at 0.20% per year. On volatility, JAAA has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DYNF has performed better with a 14.62% return vs 4.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JAAA is cheaper with a 0.20% expense ratio, compared with 0.26% for DYNF.
JAAA has the higher dividend yield at 4.99%, compared with 0.90% for DYNF.
DYNF is categorized as Large Cap Blend Equities, while JAAA is CLO. They also come from different issuers: iShares and Janus Henderson. Their fees differ too: 0.26% for DYNF and 0.20% for JAAA.
JAAA currently has the higher Sharpe Ratio (6.03 vs 2.10), 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.
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