HYBB vs. JBBB

Last updated Jun 9, 2026

HYBB (iShares BB Rated Corporate Bond ETF) and JBBB (Janus Henderson B-BBB CLO ETF) are both exchange-traded funds - HYBB is a High Yield Bonds fund tracking the ICE BofA BB US High Yield Constrained Index (USD), while JBBB is a CLO fund actively managed by Janus Henderson. HYBB is passively managed, while JBBB is actively managed. Over the past 3 years, HYBB returned 7.83%/yr vs 10.39%/yr for JBBB. At a 0.11 correlation, their price movements are largely independent. HYBB charges 0.25%/yr vs 0.49%/yr for JBBB.

Performance

HYBB vs. JBBB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares BB Rated Corporate Bond ETF (HYBB) and Janus Henderson B-BBB CLO ETF (JBBB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYBB achieves a 1.17% return, which is significantly lower than JBBB's 1.88% return.

HYBB

• 1D: 0.04%
• 1M: 0.03%
• YTD: 1.17%
• 6M: 1.84%
• 1Y: 6.45%
• 3Y*: 7.83%
• 5Y*: 3.53%
• 10Y*: —

JBBB

• 1D: 0.53%
• 1M: 0.43%
• YTD: 1.88%
• 6M: 2.28%
• 1Y: 5.34%
• 3Y*: 10.39%
• 5Y*: —
• 10Y*: —

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

HYBB vs. JBBB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HYBB iShares BB Rated Corporate Bond ETF	1.17%	8.95%	6.35%	10.53%	-9.22%
JBBB Janus Henderson B-BBB CLO ETF	1.88%	5.43%	12.50%	17.63%	-5.88%

Correlation

The correlation between HYBB and JBBB is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jan 12, 2022	0.11

Over the past year, HYBB and JBBB have become more correlated (0.33) than their long-term average of 0.11, meaning their price movements have been converging.

HYBB vs. JBBB - Sectors Allocation Comparison

Sectors	HYBB	JBBB
Financial Services	100.0%	4.2%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

HYBB vs. JBBB — Risk / Return Rank

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

HYBB

HYBB Risk / Return Rank: 68
HYBB Sharpe Ratio Rank: 66
HYBB Sortino Ratio Rank: 73
HYBB Omega Ratio Rank: 72
HYBB Calmar Ratio Rank: 58
HYBB Martin Ratio Rank: 70

JBBB

JBBB Risk / Return Rank: 53
JBBB Sharpe Ratio Rank: 50
JBBB Sortino Ratio Rank: 59
JBBB Omega Ratio Rank: 61
JBBB Calmar Ratio Rank: 48
JBBB Martin Ratio Rank: 48

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.

HYBB vs. JBBB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares BB Rated Corporate Bond ETF (HYBB) 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.

	HYBB	JBBB	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.57	+0.41
Sortino ratio: Return per unit of downside risk	2.95	2.51	+0.44
Omega ratio: Gain probability vs. loss probability	1.38	1.34	+0.05
Calmar ratio: Return relative to maximum drawdown	2.61	2.18	+0.43
Martin ratio: Return relative to average drawdown	11.74	7.38	+4.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYBB vs. JBBB - Sharpe Ratio Comparison

The current HYBB Sharpe Ratio is 1.98, which is comparable to the JBBB Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of HYBB and JBBB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HYBB	JBBB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	1.57	+0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	1.30	-0.68

Drawdowns

HYBB vs. JBBB - Drawdown Comparison

The maximum HYBB drawdown since its inception was -15.28%, which is greater than JBBB's maximum drawdown of -10.57%. Use the drawdown chart below to compare losses from any high point for HYBB and JBBB.

Drawdown Indicators

	HYBB	JBBB	Difference
Max Drawdown Largest peak-to-trough decline	-15.28%	-10.57%	-4.71%
Max Drawdown (1Y) Largest decline over 1 year	-2.48%	-2.46%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-4.01%	-3.82%	-0.19%
Max Drawdown (5Y) Largest decline over 5 years	-15.28%	—	—
Current Drawdown Current decline from peak	-0.47%	0.00%	-0.47%
Average Drawdown Average peak-to-trough decline	-3.22%	-1.58%	-1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	0.72%	-0.17%

Volatility

HYBB vs. JBBB - Volatility Comparison

iShares BB Rated Corporate Bond ETF (HYBB) and Janus Henderson B-BBB CLO ETF (JBBB) have volatilities of 0.92% and 0.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYBB	JBBB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	0.88%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	2.57%	2.85%	-0.28%
Volatility (1Y) Calculated over the trailing 1-year period	3.29%	3.42%	-0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.93%	5.26%	+1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.67%	5.26%	+1.41%

HYBB vs. JBBB - Expense Ratio Comparison

HYBB has a 0.25% expense ratio, which is lower than JBBB's 0.49% expense ratio.

Dividends

HYBB vs. JBBB - Dividend Comparison

HYBB's dividend yield for the trailing twelve months is around 5.88%, less than JBBB's 7.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
HYBB iShares BB Rated Corporate Bond ETF	5.88%	6.08%	6.22%	6.28%	5.04%	3.86%	0.76%
JBBB Janus Henderson B-BBB CLO ETF	7.12%	8.41%	9.24%	8.71%	5.71%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYBB and JBBB in my portfolio?

HYBB and JBBB have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYBB or JBBB?

HYBB has higher volatility (0.92%) compared to JBBB (0.88%). In terms of maximum drawdown, HYBB dropped -15.28% vs JBBB's -10.57%.

Which ETF is better, HYBB or JBBB?

On 3-year performance, JBBB leads with 10.39% vs 7.83% for HYBB. On fees, HYBB is cheaper at 0.25% 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, HYBB or JBBB?

Over the 3-year period, JBBB has performed better with a 10.39% return vs 7.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYBB or JBBB?

HYBB is cheaper with a 0.25% expense ratio, compared with 0.49% for JBBB.

Which ETF pays a higher dividend yield, HYBB or JBBB?

JBBB has the higher dividend yield at 7.12%, compared with 5.88% for HYBB.

What is the main difference between HYBB and JBBB?

HYBB is categorized as High Yield Bonds, while JBBB is CLO. They also come from different issuers: iShares and Janus Henderson. Their fees differ too: 0.25% for HYBB and 0.49% for JBBB.

Which has better risk-adjusted returns?

HYBB currently has the higher Sharpe Ratio (1.98 vs 1.57), 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.