ILS vs. JAAA

Last updated Jun 23, 2026

ILS (Brookmont Catastrophic Bond ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - ILS is a Nontraditional Bonds fund actively managed by Brookmont, while JAAA is a CLO fund actively managed by Janus Henderson. Both are actively managed. Over the past year, ILS returned 7.46% vs 5.12% for JAAA. At a correlation of -0.03, they often move in opposite directions. ILS charges 1.58%/yr vs 0.20%/yr for JAAA.

Performance

ILS vs. JAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brookmont Catastrophic Bond ETF (ILS) and Janus Henderson AAA CLO ETF (JAAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ILS having a 2.17% return and JAAA slightly lower at 2.09%.

ILS

• 1D: 0.15%
• 1M: 1.16%
• YTD: 2.17%
• 6M: 2.46%
• 1Y: 7.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JAAA

• 1D: 0.02%
• 1M: 0.31%
• YTD: 2.09%
• 6M: 2.37%
• 1Y: 5.12%
• 3Y*: 6.59%
• 5Y*: 4.82%
• 10Y*: —

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

ILS vs. JAAA - Yearly Performance Comparison

	2026 (YTD)	2025
ILS Brookmont Catastrophic Bond ETF	2.17%	3.54%
JAAA Janus Henderson AAA CLO ETF	2.09%	4.29%

Correlation

The correlation between ILS and JAAA is -0.00, 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	-0.00
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025	-0.03

Return for Risk

ILS vs. JAAA — Risk / Return Rank

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

ILS

ILS Risk / Return Rank: 95
ILS Sharpe Ratio Rank: 90
ILS Sortino Ratio Rank: 95
ILS Omega Ratio Rank: 94
ILS Calmar Ratio Rank: 98
ILS Martin Ratio Rank: 98

JAAA

JAAA Risk / Return Rank: 98
JAAA Sharpe Ratio Rank: 99
JAAA Sortino Ratio Rank: 99
JAAA Omega Ratio Rank: 99
JAAA Calmar Ratio Rank: 98
JAAA Martin Ratio Rank: 98

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.

ILS vs. JAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brookmont Catastrophic Bond ETF (ILS) 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.

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.

	ILS	JAAA	Difference
Sharpe ratio: Return per unit of total volatility	2.91	6.19	-3.28
Sortino ratio: Return per unit of downside risk	4.78	10.34	-5.56
Omega ratio: Gain probability vs. loss probability	1.65	2.79	-1.15
Calmar ratio: Return relative to maximum drawdown	13.55	13.24	+0.31
Martin ratio: Return relative to average drawdown	49.81	71.33	-21.52

ILS vs. JAAA - Sharpe Ratio Comparison

The current ILS Sharpe Ratio is 2.91, which is lower than the JAAA Sharpe Ratio of 6.19. The chart below compares the historical Sharpe Ratios of ILS and JAAA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ILS vs. JAAA - Drawdown Comparison

The maximum ILS drawdown since its inception was -2.46%, smaller than the maximum JAAA drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for ILS and JAAA.

Drawdown Indicators

	ILS	JAAA	Difference
Max Drawdown Largest peak-to-trough decline	-2.46%	-2.64%	+0.18%
Max Drawdown (1Y) Largest decline over 1 year	-0.55%	-0.39%	-0.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.64%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.54%	-0.25%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.15%	0.07%	+0.08%

Volatility

ILS vs. JAAA - Volatility Comparison

Brookmont Catastrophic Bond ETF (ILS) has a higher volatility of 0.83% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.12%. This indicates that ILS'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.

Volatility by Period

	ILS	JAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.83%	0.12%	+0.71%
Volatility (6M) Calculated over the trailing 6-month period	1.68%	0.64%	+1.04%
Volatility (1Y) Calculated over the trailing 1-year period	2.58%	0.83%	+1.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.78%	1.67%	+2.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.78%	1.64%	+2.14%

ILS vs. JAAA - Expense Ratio Comparison

ILS has a 1.58% expense ratio, which is higher than JAAA's 0.20% expense ratio.

Dividends

ILS vs. JAAA - Dividend Comparison

ILS's dividend yield for the trailing twelve months is around 8.06%, more than JAAA's 4.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
ILS Brookmont Catastrophic Bond ETF	8.06%	6.06%	0.00%	0.00%	0.00%	0.00%	0.00%
JAAA Janus Henderson AAA CLO ETF	4.99%	5.30%	6.35%	6.11%	2.74%	1.21%	0.26%

Frequently Asked Questions

Can I hold both ILS and JAAA in my portfolio?

ILS and JAAA have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ILS or JAAA?

ILS has higher volatility (0.83%) compared to JAAA (0.12%). In terms of maximum drawdown, ILS dropped -2.46% vs JAAA's -2.64%.

Which ETF is better, ILS or JAAA?

On 1-year performance, ILS leads with 7.46% vs 5.12% for JAAA. On fees, JAAA is cheaper at 0.20% per year. On volatility, JAAA has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ILS or JAAA?

Over the 1-year period, ILS has performed better with a 7.46% return vs 5.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ILS or JAAA?

JAAA is cheaper with a 0.20% expense ratio, compared with 1.58% for ILS.

Which ETF pays a higher dividend yield, ILS or JAAA?

ILS has the higher dividend yield at 8.06%, compared with 4.99% for JAAA.

What is the main difference between ILS and JAAA?

ILS is categorized as Nontraditional Bonds, while JAAA is CLO. They also come from different issuers: Brookmont and Janus Henderson. Their fees differ too: 1.58% for ILS and 0.20% for JAAA.

Which has better risk-adjusted returns?

JAAA currently has the higher Sharpe Ratio (6.19 vs 2.91), 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.