EFV vs. JAAA

Last updated Jul 21, 2026

EFV (iShares MSCI EAFE Value ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - EFV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Value Index (Net), while JAAA is a CLO fund actively managed by Janus Henderson. EFV is passively managed, while JAAA is actively managed. Over the past 5 years, EFV returned 13.80%/yr vs 4.84%/yr for JAAA. At a 0.10 correlation, their price movements are largely independent. EFV charges 0.31%/yr vs 0.20%/yr for JAAA.

Performance

EFV vs. JAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EAFE Value ETF (EFV) 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, EFV achieves a 12.03% return, which is significantly higher than JAAA's 2.37% return.

EFV

• 1D: -0.69%
• 1M: 1.68%
• 6M: 8.90%
• YTD: 12.03%
• 1Y: 29.67%
• 3Y*: 20.66%
• 5Y*: 13.80%
• 10Y*: 10.23%
• ALL TIME*: 5.96%

JAAA

• 1D: 0.00%
• 1M: 0.30%
• 6M: 2.03%
• YTD: 2.37%
• 1Y: 4.95%
• 3Y*: 6.30%
• 5Y*: 4.84%
• 10Y*: —
• ALL TIME*: 4.52%

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

EFV vs. JAAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EFV iShares MSCI EAFE Value ETF	12.03%	42.22%	5.35%	18.85%	-5.22%	11.08%	16.98%
JAAA Janus Henderson AAA CLO ETF	2.37%	5.16%	7.43%	8.59%	0.49%	1.39%	0.76%

Correlation

The correlation between EFV and JAAA is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since Oct 19, 2020	0.10

Return for Risk

EFV vs. JAAA — Risk / Return Rank

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

EFV

EFV Risk / Return Rank: 80
EFV Sharpe Ratio Rank: 85
EFV Sortino Ratio Rank: 84
EFV Omega Ratio Rank: 83
EFV Calmar Ratio Rank: 73
EFV Martin Ratio Rank: 74

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) 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.

EFV vs. JAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE Value ETF (EFV) 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.

	EFV	JAAA	Difference
Sharpe ratio: Return per unit of total volatility	2.06	6.19	-4.13
Sortino ratio: Return per unit of downside risk	2.88	10.23	-7.34
Omega ratio: Gain probability vs. loss probability	1.37	2.81	-1.44
Calmar ratio: Return relative to maximum drawdown	2.74	12.79	-10.06
Martin ratio: Return relative to average drawdown	10.04	69.42	-59.38

EFV vs. JAAA - Sharpe Ratio Comparison

The current EFV Sharpe Ratio is 2.06, which is lower than the JAAA Sharpe Ratio of 6.19. The chart below compares the historical Sharpe Ratios of EFV 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

EFV vs. JAAA - Drawdown Comparison

The maximum EFV drawdown since its inception was -63.94%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for EFV and JAAA.

Drawdown Indicators

	EFV	JAAA	Difference
Max Drawdown Largest peak-to-trough decline	-63.94%	-2.64%	-61.30%
Max Drawdown (1Y) Largest decline over 1 year	-10.90%	-0.39%	-10.51%
Max Drawdown (3Y) Largest decline over 3 years	-13.72%	-1.46%	-12.26%
Max Drawdown (5Y) Largest decline over 5 years	-25.84%	-2.64%	-23.20%
Max Drawdown (10Y) Largest decline over 10 years	-43.16%	—	—
Current Drawdown Current decline from peak	-1.39%	0.00%	-1.39%
Average Drawdown Average peak-to-trough decline	-14.75%	-0.25%	-14.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	0.07%	+2.89%

Volatility

EFV vs. JAAA - Volatility Comparison

iShares MSCI EAFE Value ETF (EFV) has a higher volatility of 3.17% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.16%. This indicates that EFV'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

	EFV	JAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.17%	0.16%	+3.01%
Volatility (6M) Calculated over the trailing 6-month period	12.15%	0.64%	+11.51%
Volatility (1Y) Calculated over the trailing 1-year period	14.48%	0.80%	+13.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.91%	1.66%	+14.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.44%	1.63%	+15.81%

EFV vs. JAAA - Expense Ratio Comparison

EFV has a 0.31% expense ratio, which is higher than JAAA's 0.20% expense ratio.

Dividends

EFV vs. JAAA - Dividend Comparison

EFV's dividend yield for the trailing twelve months is around 4.69%, less than JAAA's 4.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFV iShares MSCI EAFE Value ETF	4.69%	4.16%	4.66%	4.36%	4.17%	4.07%	2.42%	4.62%	4.56%	3.56%	3.28%	3.59%
JAAA Janus Henderson AAA CLO ETF	4.95%	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 EFV and JAAA in my portfolio?

EFV and JAAA have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFV or JAAA?

EFV has higher volatility (3.17%) compared to JAAA (0.16%). In terms of maximum drawdown, EFV dropped -63.94% vs JAAA's -2.64%.

Which ETF is better, EFV or JAAA?

On 5-year performance, EFV leads with 13.80% vs 4.84% for JAAA. On fees, JAAA is cheaper at 0.20% per year. 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, EFV or JAAA?

Over the 5-year period, EFV has performed better with a 13.80% return vs 4.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFV or JAAA?

JAAA is cheaper with a 0.20% expense ratio, compared with 0.31% for EFV.

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

JAAA has the higher dividend yield at 4.95%, compared with 4.69% for EFV.

What is the main difference between EFV and JAAA?

EFV is categorized as Foreign Large Cap Equities, while JAAA is CLO. They also come from different issuers: iShares and Janus Henderson. Their fees differ too: 0.31% for EFV and 0.20% for JAAA.

Which has better risk-adjusted returns?

JAAA currently has the higher Sharpe Ratio (6.19 vs 2.06), 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.