FLOT vs. JAAA
FLOT (iShares Floating Rate Bond ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - FLOT is a Corporate Bonds fund tracking the Bloomberg US Floating Rate Notes (<5 Y), while JAAA is a CLO fund actively managed by Janus Henderson. FLOT is passively managed, while JAAA is actively managed. Over the past 5 years, FLOT returned 4.19%/yr vs 4.79%/yr for JAAA. At a 0.17 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.
Performance
FLOT vs. JAAA - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FLOT having a 1.81% return and JAAA slightly higher at 1.89%.
FLOT
- 1D
- -0.08%
- 1M
- 0.41%
- YTD
- 1.81%
- 6M
- 2.13%
- 1Y
- 4.80%
- 3Y*
- 5.58%
- 5Y*
- 4.19%
- 10Y*
- 3.02%
JAAA
- 1D
- 0.02%
- 1M
- 0.37%
- YTD
- 1.89%
- 6M
- 2.47%
- 1Y
- 5.10%
- 3Y*
- 6.70%
- 5Y*
- 4.79%
- 10Y*
- —
FLOT vs. JAAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 1.81% | 4.91% | 6.53% | 6.43% | 1.28% | 0.45% | 0.21% |
JAAA Janus Henderson AAA CLO ETF | 1.89% | 5.16% | 7.43% | 8.59% | 0.49% | 1.39% | 0.79% |
Correlation
The correlation between FLOT and JAAA is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2020 | 0.17 |
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Return for Risk
FLOT vs. JAAA — Risk / Return Rank
FLOT
JAAA
FLOT vs. JAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Floating Rate Bond ETF (FLOT) 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.
| FLOT | JAAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +1.54 | ||
| Omega ratioGain probability vs. loss probability | 3.18 | 2.71 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 11.18 | 13.18 | -2.00 |
| Martin ratioReturn relative to average drawdown | 104.01 | 70.92 | +33.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLOT | JAAA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.48 | 6.04 | +0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.37 | 2.87 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 2.78 | -2.12 |
Drawdowns
FLOT vs. JAAA - Drawdown Comparison
The maximum FLOT drawdown since its inception was -13.54%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for FLOT and JAAA.
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Drawdown Indicators
| FLOT | JAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.54% | -2.64% | -10.90% |
Max Drawdown (1Y)Largest decline over 1 year | -0.43% | -0.39% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -1.57% | -1.46% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -2.36% | -2.64% | +0.28% |
Max Drawdown (10Y)Largest decline over 10 years | -13.54% | — | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.00% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -0.25% | +0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.07% | -0.02% |
Volatility
FLOT vs. JAAA - Volatility Comparison
iShares Floating Rate Bond ETF (FLOT) has a higher volatility of 0.20% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.13%. This indicates that FLOT'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
| FLOT | JAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 0.13% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 0.63% | 0.64% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.74% | 0.85% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.77% | 1.68% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 1.64% | +2.51% |
FLOT vs. JAAA - Expense Ratio Comparison
Both FLOT and JAAA have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
FLOT vs. JAAA - Dividend Comparison
FLOT's dividend yield for the trailing twelve months is around 4.54%, less than JAAA's 5.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 4.54% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
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
FLOT and JAAA have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLOT has higher volatility (0.20%) compared to JAAA (0.13%). In terms of maximum drawdown, FLOT dropped -13.54% vs JAAA's -2.64%.
On 5-year performance, JAAA leads with 4.79% vs 4.19% for FLOT. Both ETFs have the same 0.20% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JAAA has performed better with a 4.79% return vs 4.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLOT and JAAA have the same expense ratio: 0.20% per year.
JAAA has the higher dividend yield at 5.00%, compared with 4.54% for FLOT.
FLOT is categorized as Corporate Bonds, while JAAA is CLO. They also come from different issuers: iShares and Janus Henderson.
FLOT currently has the higher Sharpe Ratio (6.48 vs 6.04), 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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