GBDC vs. JBBB
GBDC (Golub Capital BDC, Inc.) is a stock, while JBBB (Janus Henderson B-BBB CLO ETF) is CLO fund actively managed by Janus Henderson. Over the past 3 years, GBDC returned 10.86%/yr vs 8.66%/yr for JBBB. At a 0.12 correlation, their price movements are largely independent.
Performance
GBDC vs. JBBB - Performance Comparison
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Returns By Period
In the year-to-date period, GBDC achieves a 1.14% return, which is significantly lower than JBBB's 2.48% return.
GBDC
- 1D
- 0.77%
- 1M
- 0.46%
- 6M
- 0.55%
- YTD
- 1.14%
- 1Y
- -5.14%
- 3Y*
- 10.86%
- 5Y*
- 6.59%
- 10Y*
- 5.98%
JBBB
- 1D
- 0.16%
- 1M
- 0.44%
- 6M
- 1.84%
- YTD
- 2.48%
- 1Y
- 5.19%
- 3Y*
- 8.66%
- 5Y*
- —
- 10Y*
- —
GBDC vs. JBBB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 1.14% | -0.50% | 13.57% | 27.69% | -8.18% |
JBBB Janus Henderson B-BBB CLO ETF | 2.48% | 4.40% | 10.72% | 16.91% | -6.51% |
Correlation
The correlation between GBDC and JBBB 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 | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2022 | 0.12 |
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Return for Risk
GBDC vs. JBBB — Risk / Return Rank
GBDC
JBBB
GBDC vs. JBBB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Golub Capital BDC, Inc. (GBDC) and Janus Henderson B-BBB CLO ETF (JBBB). 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.
| GBDC | JBBB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.75 | ||
| Sortino ratioReturn per unit of downside risk | -2.60 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.32 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 2.11 | -2.40 |
| Martin ratioReturn relative to average drawdown | -0.58 | 7.07 | -7.65 |
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Drawdowns
GBDC vs. JBBB - Drawdown Comparison
The maximum GBDC drawdown since its inception was -47.30%, which is greater than JBBB's maximum drawdown of -10.79%. Use the drawdown chart below to compare losses from any high point for GBDC and JBBB.
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Drawdown Indicators
| GBDC | JBBB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.30% | -10.79% | -36.51% |
Max Drawdown (1Y)Largest decline over 1 year | -18.20% | -2.46% | -15.74% |
Max Drawdown (3Y)Largest decline over 3 years | -18.20% | -4.35% | -13.85% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.30% | — | — |
Current DrawdownCurrent decline from peak | -6.36% | -0.15% | -6.21% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -1.68% | -4.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.91% | 0.74% | +8.17% |
Volatility
GBDC vs. JBBB - Volatility Comparison
Golub Capital BDC, Inc. (GBDC) has a higher volatility of 5.31% compared to Janus Henderson B-BBB CLO ETF (JBBB) at 1.22%. This indicates that GBDC's price experiences larger fluctuations and is considered to be riskier than JBBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBDC | JBBB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.31% | 1.22% | +4.09% |
Volatility (6M)Calculated over the trailing 6-month period | 16.08% | 3.08% | +13.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.29% | 3.52% | +15.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.21% | 5.19% | +12.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.61% | 5.19% | +16.42% |
Dividends
GBDC vs. JBBB - Dividend Comparison
GBDC's dividend yield for the trailing twelve months is around 11.06%, more than JBBB's 6.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 11.06% | 11.50% | 12.73% | 10.00% | 9.35% | 7.58% | 8.44% | 7.70% | 8.49% | 7.47% | 8.32% | 7.70% |
JBBB Janus Henderson B-BBB CLO ETF | 6.46% | 7.41% | 7.65% | 8.10% | 5.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GBDC and JBBB 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.
GBDC has higher volatility (5.31%) compared to JBBB (1.22%). In terms of maximum drawdown, GBDC dropped -47.30% vs JBBB's -10.79%.
JBBB currently has the higher Sharpe Ratio (1.49 vs -0.27), 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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