FLDR vs. JAAA

Last updated Jun 14, 2026

FLDR (Fidelity Low Duration Bond Factor ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - FLDR is a Corporate Bonds fund tracking the Fidelity Low Duration Investment Grade Factor Index, while JAAA is a CLO fund actively managed by Janus Henderson. FLDR is passively managed, while JAAA is actively managed. Over the past 5 years, FLDR returned 3.70%/yr vs 4.76%/yr for JAAA. At a 0.04 correlation, their price movements are largely independent. FLDR charges 0.15%/yr vs 0.20%/yr for JAAA.

Performance

FLDR vs. JAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Low Duration Bond Factor ETF (FLDR) 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, FLDR achieves a 1.58% return, which is significantly lower than JAAA's 1.99% return.

FLDR

• 1D: 0.06%
• 1M: 0.43%
• YTD: 1.58%
• 6M: 1.88%
• 1Y: 4.76%
• 3Y*: 5.36%
• 5Y*: 3.70%
• 10Y*: —

JAAA

• 1D: 0.02%
• 1M: 0.31%
• YTD: 1.99%
• 6M: 2.49%
• 1Y: 5.01%
• 3Y*: 6.67%
• 5Y*: 4.76%
• 10Y*: —

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

FLDR vs. JAAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FLDR Fidelity Low Duration Bond Factor ETF	1.58%	5.41%	5.71%	6.32%	-0.33%	-0.18%	0.07%
JAAA Janus Henderson AAA CLO ETF	1.99%	5.16%	7.43%	8.59%	0.49%	1.39%	0.76%

Correlation

The correlation between FLDR and JAAA is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (All Time) Calculated using the full available price history since Oct 19, 2020	0.04

Return for Risk

FLDR vs. JAAA — Risk / Return Rank

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

FLDR

FLDR Risk / Return Rank: 98
FLDR Sharpe Ratio Rank: 99
FLDR Sortino Ratio Rank: 99
FLDR Omega Ratio Rank: 99
FLDR Calmar Ratio Rank: 97
FLDR Martin Ratio Rank: 98

JAAA

JAAA Risk / Return Rank: 98
JAAA Sharpe Ratio Rank: 99
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.

FLDR vs. JAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Low Duration Bond Factor ETF (FLDR) 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.

	FLDR	JAAA	Difference
Sharpe ratio: Return per unit of total volatility	5.90	6.03	-0.12
Sortino ratio: Return per unit of downside risk	9.99	10.06	-0.07
Omega ratio: Gain probability vs. loss probability	2.73	2.72	0.00
Calmar ratio: Return relative to maximum drawdown	10.19	12.91	-2.72
Martin ratio: Return relative to average drawdown	69.63	69.57	+0.05

FLDR vs. JAAA - Sharpe Ratio Comparison

The current FLDR Sharpe Ratio is 5.90, which is comparable to the JAAA Sharpe Ratio of 6.03. The chart below compares the historical Sharpe Ratios of FLDR 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

FLDR vs. JAAA - Drawdown Comparison

The maximum FLDR drawdown since its inception was -12.23%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for FLDR and JAAA.

Drawdown Indicators

	FLDR	JAAA	Difference
Max Drawdown Largest peak-to-trough decline	-12.23%	-2.64%	-9.59%
Max Drawdown (1Y) Largest decline over 1 year	-0.47%	-0.39%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-0.76%	-1.46%	+0.70%
Max Drawdown (5Y) Largest decline over 5 years	-2.33%	-2.64%	+0.31%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.35%	-0.25%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.07%	0.07%	0.00%

Volatility

FLDR vs. JAAA - Volatility Comparison

Fidelity Low Duration Bond Factor ETF (FLDR) has a higher volatility of 0.20% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.12%. This indicates that FLDR'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

	FLDR	JAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.20%	0.12%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	0.59%	0.63%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	0.81%	0.83%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.21%	1.67%	-0.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.25%	1.64%	+3.61%

FLDR vs. JAAA - Expense Ratio Comparison

FLDR has a 0.15% expense ratio, which is lower than JAAA's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FLDR vs. JAAA - Dividend Comparison

FLDR's dividend yield for the trailing twelve months is around 4.42%, less than JAAA's 4.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FLDR Fidelity Low Duration Bond Factor ETF	4.42%	4.66%	5.50%	5.28%	2.09%	0.51%	1.22%	2.69%	1.38%
JAAA Janus Henderson AAA CLO ETF	4.99%	5.30%	6.35%	6.11%	2.74%	1.21%	0.26%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLDR and JAAA in my portfolio?

FLDR and JAAA have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLDR or JAAA?

FLDR has higher volatility (0.20%) compared to JAAA (0.12%). In terms of maximum drawdown, FLDR dropped -12.23% vs JAAA's -2.64%.

Which ETF is better, FLDR or JAAA?

On 5-year performance, JAAA leads with 4.76% vs 3.70% for FLDR. On fees, FLDR is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLDR or JAAA?

Over the 5-year period, JAAA has performed better with a 4.76% return vs 3.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLDR or JAAA?

FLDR is cheaper with a 0.15% expense ratio, compared with 0.20% for JAAA.

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

JAAA has the higher dividend yield at 4.99%, compared with 4.42% for FLDR.

What is the main difference between FLDR and JAAA?

FLDR is categorized as Corporate Bonds, while JAAA is CLO. They also come from different issuers: Fidelity and Janus Henderson. Their fees differ too: 0.15% for FLDR and 0.20% for JAAA.

Which has better risk-adjusted returns?

JAAA currently has the higher Sharpe Ratio (6.03 vs 5.90), 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.