ICLU.L vs. JBBB
ICLU.L (Invesco USD AAA CLO UCITS ETF Acc) and JBBB (Janus Henderson B-BBB CLO ETF) are both CLO funds. Both are actively managed. Over the past year, ICLU.L returned 5.34% vs 5.67% for JBBB. At a 0.00 correlation, their price movements are largely independent. ICLU.L charges 0.25%/yr vs 0.49%/yr for JBBB.
Performance
ICLU.L vs. JBBB - Performance Comparison
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Returns By Period
In the year-to-date period, ICLU.L achieves a 2.17% return, which is significantly higher than JBBB's 1.86% return.
ICLU.L
- 1D
- 0.00%
- 1M
- 0.47%
- YTD
- 2.17%
- 6M
- 2.52%
- 1Y
- 5.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JBBB
- 1D
- 0.02%
- 1M
- 0.62%
- YTD
- 1.86%
- 6M
- 2.34%
- 1Y
- 5.67%
- 3Y*
- 10.60%
- 5Y*
- —
- 10Y*
- —
ICLU.L vs. JBBB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ICLU.L Invesco USD AAA CLO UCITS ETF Acc | 2.17% | 4.23% |
JBBB Janus Henderson B-BBB CLO ETF | 1.86% | 4.15% |
Correlation
The correlation between ICLU.L and JBBB is -0.02, 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 | -0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2025 | 0.00 |
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Return for Risk
ICLU.L vs. JBBB — Risk / Return Rank
ICLU.L
JBBB
ICLU.L vs. JBBB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco USD AAA CLO UCITS ETF Acc (ICLU.L) 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.
| ICLU.L | JBBB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.52 | ||
| Sortino ratioReturn per unit of downside risk | +3.60 | ||
| Omega ratioGain probability vs. loss probability | 2.27 | 1.37 | +0.90 |
| Calmar ratioReturn relative to maximum drawdown | 8.47 | 2.31 | +6.16 |
| Martin ratioReturn relative to average drawdown | 39.67 | 7.84 | +31.83 |
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
| ICLU.L | JBBB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.22 | 1.70 | +2.52 |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.37 | 1.31 | +2.06 |
Drawdowns
ICLU.L vs. JBBB - Drawdown Comparison
The maximum ICLU.L drawdown since its inception was -0.91%, smaller than the maximum JBBB drawdown of -10.57%. Use the drawdown chart below to compare losses from any high point for ICLU.L and JBBB.
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Drawdown Indicators
| ICLU.L | JBBB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.91% | -10.57% | +9.66% |
Max Drawdown (1Y)Largest decline over 1 year | -0.63% | -2.46% | +1.83% |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.82% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -1.58% | +1.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.13% | 0.72% | -0.59% |
Volatility
ICLU.L vs. JBBB - Volatility Comparison
The current volatility for Invesco USD AAA CLO UCITS ETF Acc (ICLU.L) is 0.19%, while Janus Henderson B-BBB CLO ETF (JBBB) has a volatility of 0.45%. This indicates that ICLU.L experiences smaller price fluctuations and is considered to be less risky 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
| ICLU.L | JBBB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 0.45% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 0.82% | 2.76% | -1.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.26% | 3.34% | -2.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.46% | 5.26% | -3.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.46% | 5.26% | -3.80% |
ICLU.L vs. JBBB - Expense Ratio Comparison
ICLU.L has a 0.25% expense ratio, which is lower than JBBB's 0.49% expense ratio.
Dividends
ICLU.L vs. JBBB - Dividend Comparison
ICLU.L has not paid dividends to shareholders, while JBBB's dividend yield for the trailing twelve months is around 7.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ICLU.L Invesco USD AAA CLO UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JBBB Janus Henderson B-BBB CLO ETF | 7.13% | 8.41% | 9.24% | 8.71% | 5.71% |
Frequently Asked Questions
ICLU.L and JBBB have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICLU.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICLU.L is cheaper with a 0.25% expense ratio, compared with 0.49% for JBBB.
They also come from different issuers: Invesco and Janus Henderson. Their fees differ too: 0.25% for ICLU.L and 0.49% for JBBB.
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