JA vs. JRE

Last updated Jun 30, 2026

JA (Janus Henderson AA-A CLO ETF) and JRE (Janus Henderson U.S. Real Estate ETF) are both exchange-traded funds - JA is a CLO fund actively managed by Janus Henderson, while JRE is a fund fund actively managed by Janus Henderson. Both are actively managed. At a correlation of -0.11, they often move in opposite directions. JA charges 0.29%/yr vs 0.65%/yr for JRE.

Performance

JA vs. JRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson AA-A CLO ETF (JA) and Janus Henderson U.S. Real Estate ETF (JRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

JA

• 1D: 0.02%
• 1M: 0.30%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JRE

• 1D: -0.48%
• 1M: 4.99%
• YTD: 19.66%
• 6M: 19.04%
• 1Y: 24.17%
• 3Y*: 11.40%
• 5Y*: 5.40%
• 10Y*: —

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

JA vs. JRE - Yearly Performance Comparison

	2026 (YTD)
JA Janus Henderson AA-A CLO ETF	1.64%
JRE Janus Henderson U.S. Real Estate ETF	9.85%

Correlation

The correlation between JA and JRE is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 19, 2026	-0.11

Return for Risk

JA vs. JRE — Risk / Return Rank

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

JA

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

JRE

JRE Risk / Return Rank: 66
JRE Sharpe Ratio Rank: 64
JRE Sortino Ratio Rank: 61
JRE Omega Ratio Rank: 60
JRE Calmar Ratio Rank: 77
JRE Martin Ratio Rank: 70

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.

JA vs. JRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson AA-A CLO ETF (JA) and Janus Henderson U.S. Real Estate ETF (JRE). 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.

	JA	JRE	Difference
Sharpe ratio: Return per unit of total volatility	—	1.79	—
Sortino ratio: Return per unit of downside risk	—	2.44	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	3.40	—
Martin ratio: Return relative to average drawdown	—	10.85	—

Drawdowns

JA vs. JRE - Drawdown Comparison

The maximum JA drawdown since its inception was -0.51%, smaller than the maximum JRE drawdown of -31.69%. Use the drawdown chart below to compare losses from any high point for JA and JRE.

Drawdown Indicators

	JA	JRE	Difference
Max Drawdown Largest peak-to-trough decline	-0.51%	-31.69%	+31.18%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.14%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.69%	—
Current Drawdown Current decline from peak	0.00%	-0.48%	+0.48%
Average Drawdown Average peak-to-trough decline	-0.05%	-12.46%	+12.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.23%	—

Volatility

Volatility by Period

	JA	JRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.56%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.52%	13.57%	-12.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.52%	18.74%	-17.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.52%	18.71%	-17.19%

JA vs. JRE - Expense Ratio Comparison

JA has a 0.29% expense ratio, which is lower than JRE's 0.65% expense ratio.

Dividends

JA vs. JRE - Dividend Comparison

JA's dividend yield for the trailing twelve months is around 1.28%, less than JRE's 4.72% yield.

Position	TTM	2025	2024	2023	2022	2021
JA Janus Henderson AA-A CLO ETF	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%
JRE Janus Henderson U.S. Real Estate ETF	4.72%	5.81%	2.20%	2.77%	2.87%	0.90%

Frequently Asked Questions

Can I hold both JA and JRE in my portfolio?

JA and JRE have a correlation of -0.11, 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 JRE?

On fees, JA is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JA or JRE?

JA is cheaper with a 0.29% expense ratio, compared with 0.65% for JRE.

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

JRE has the higher dividend yield at 4.72%, compared with 1.28% for JA.

What is the main difference between JA and JRE?

Their fees differ too: 0.29% for JA and 0.65% for JRE.