IGBH vs. JAAA
IGBH (iShares Interest Rate Hedged Long-Term Corporate Bond ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - IGBH is a Corporate Bonds fund tracking the BlackRock Interest Rate Hedged Long-Term Corporate Bond Index, while JAAA is a CLO fund actively managed by Janus Henderson. IGBH is passively managed, while JAAA is actively managed. Over the past 5 years, IGBH returned 5.30%/yr vs 4.79%/yr for JAAA. At a 0.16 correlation, their price movements are largely independent. IGBH charges 0.16%/yr vs 0.20%/yr for JAAA.
Performance
IGBH vs. JAAA - Performance Comparison
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Returns By Period
In the year-to-date period, IGBH achieves a 2.44% return, which is significantly higher than JAAA's 1.89% return.
IGBH
- 1D
- 0.12%
- 1M
- 1.52%
- YTD
- 2.44%
- 6M
- 3.11%
- 1Y
- 9.11%
- 3Y*
- 9.02%
- 5Y*
- 5.30%
- 10Y*
- 5.04%
JAAA
- 1D
- 0.02%
- 1M
- 0.37%
- YTD
- 1.89%
- 6M
- 2.47%
- 1Y
- 5.10%
- 3Y*
- 6.70%
- 5Y*
- 4.79%
- 10Y*
- —
IGBH vs. JAAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 2.44% | 7.90% | 7.80% | 12.12% | -2.82% | 2.20% | 6.33% |
JAAA Janus Henderson AAA CLO ETF | 1.89% | 5.16% | 7.43% | 8.59% | 0.49% | 1.39% | 0.79% |
Correlation
The correlation between IGBH and JAAA is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2020 | 0.16 |
The correlation between IGBH and JAAA shifts across timeframes, from 0.16 (5 years) to 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IGBH vs. JAAA — Risk / Return Rank
IGBH
JAAA
IGBH vs. JAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) 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.
| IGBH | JAAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.78 | ||
| Sortino ratioReturn per unit of downside risk | -6.73 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 2.71 | -1.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 13.18 | -11.03 |
| Martin ratioReturn relative to average drawdown | 7.90 | 70.92 | -63.02 |
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
| IGBH | JAAA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.26 | 6.04 | -3.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | 2.87 | -2.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 2.78 | -2.26 |
Drawdowns
IGBH vs. JAAA - Drawdown Comparison
The maximum IGBH drawdown since its inception was -33.67%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for IGBH and JAAA.
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Drawdown Indicators
| IGBH | JAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.67% | -2.64% | -31.03% |
Max Drawdown (1Y)Largest decline over 1 year | -4.24% | -0.39% | -3.85% |
Max Drawdown (3Y)Largest decline over 3 years | -6.93% | -1.46% | -5.47% |
Max Drawdown (5Y)Largest decline over 5 years | -10.48% | -2.64% | -7.84% |
Max Drawdown (10Y)Largest decline over 10 years | -33.67% | — | — |
Current DrawdownCurrent decline from peak | -0.07% | -0.00% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -2.66% | -0.25% | -2.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 0.07% | +1.08% |
Volatility
IGBH vs. JAAA - Volatility Comparison
iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) has a higher volatility of 0.82% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.13%. This indicates that IGBH'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
| IGBH | JAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.13% | +0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 0.64% | +2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 0.85% | +3.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.13% | 1.68% | +4.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.20% | 1.64% | +7.56% |
IGBH vs. JAAA - Expense Ratio Comparison
IGBH has a 0.16% 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
IGBH vs. JAAA - Dividend Comparison
IGBH's dividend yield for the trailing twelve months is around 5.66%, more than JAAA's 5.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 5.66% | 6.23% | 6.88% | 7.32% | 3.84% | 2.71% | 2.39% | 3.40% | 5.56% | 2.87% | 2.62% | 1.12% |
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
IGBH and JAAA have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGBH has higher volatility (0.82%) compared to JAAA (0.13%). In terms of maximum drawdown, IGBH dropped -33.67% vs JAAA's -2.64%.
On 5-year performance, IGBH leads with 5.30% vs 4.79% for JAAA. On fees, IGBH is cheaper at 0.16% per year. On volatility, JAAA has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IGBH has performed better with a 5.30% return vs 4.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGBH is cheaper with a 0.16% expense ratio, compared with 0.20% for JAAA.
IGBH has the higher dividend yield at 5.66%, compared with 5.00% for JAAA.
IGBH is categorized as Corporate Bonds, while JAAA is CLO. They also come from different issuers: iShares and Janus Henderson. Their fees differ too: 0.16% for IGBH and 0.20% for JAAA.
JAAA currently has the higher Sharpe Ratio (6.04 vs 2.26), 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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