JA vs. AAAD

Last updated Jul 17, 2026

JA (Janus Henderson AA-A CLO ETF) and AAAD (PGIM AAA CLO Aggregate Duration ETF) are both CLO funds. Both are actively managed. At a 0.06 correlation, their price movements are largely independent. JA charges 0.29%/yr vs 0.19%/yr for AAAD.

Performance

JA vs. AAAD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson AA-A CLO ETF (JA) and PGIM AAA CLO Aggregate Duration ETF (AAAD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

JA

• 1D: 0.00%
• 1M: 0.42%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAAD

• 1D: -0.03%
• 1M: -0.30%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JA vs. AAAD - Yearly Performance Comparison

	2026 (YTD)
JA Janus Henderson AA-A CLO ETF	0.58%
AAAD PGIM AAA CLO Aggregate Duration ETF	0.20%

Correlation

The correlation between JA and AAAD is 0.06, 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 (All Time) Calculated using the full available price history since Jun 3, 2026	0.06

Return for Risk

JA vs. AAAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson AA-A CLO ETF (JA) and PGIM AAA CLO Aggregate Duration ETF (AAAD). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

JA vs. AAAD - Drawdown Comparison

The maximum JA drawdown since its inception was -0.51%, smaller than the maximum AAAD drawdown of -1.13%. Use the drawdown chart below to compare losses from any high point for JA and AAAD.

Drawdown Indicators

	JA	AAAD	Difference
Max Drawdown Largest peak-to-trough decline	-0.51%	-1.13%	+0.62%
Current Drawdown Current decline from peak	0.00%	-0.76%	+0.76%
Average Drawdown Average peak-to-trough decline	-0.05%	-0.37%	+0.32%

Volatility

Volatility by Period

	JA	AAAD	Difference
Volatility (1Y) Calculated over the trailing 1-year period	1.44%	3.65%	-2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.44%	3.65%	-2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.44%	3.65%	-2.21%

JA vs. AAAD - Expense Ratio Comparison

JA has a 0.29% expense ratio, which is higher than AAAD's 0.19% expense ratio.

Dividends

JA vs. AAAD - Dividend Comparison

JA's dividend yield for the trailing twelve months is around 1.72%, more than AAAD's 0.03% yield.

Position	TTM
AAAD PGIM AAA CLO Aggregate Duration ETF	0.03%
JA Janus Henderson AA-A CLO ETF	1.72%

Frequently Asked Questions

Can I hold both JA and AAAD in my portfolio?

JA and AAAD have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JA or AAAD?

On fees, AAAD is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JA or AAAD?

AAAD is cheaper with a 0.19% expense ratio, compared with 0.29% for JA.

Which ETF pays a higher dividend yield, JA or AAAD?

JA has the higher dividend yield at 1.72%, compared with 0.03% for AAAD.

What is the main difference between JA and AAAD?

They also come from different issuers: Janus Henderson and PGIM. Their fees differ too: 0.29% for JA and 0.19% for AAAD.