JAAA vs. BAMU

Last updated Jun 4, 2026

JAAA (Janus Henderson AAA CLO ETF) and BAMU (Brookstone Ultra-Short Bond ETF) are both exchange-traded funds - JAAA is a CLO fund actively managed by Janus Henderson, while BAMU is a Ultrashort Bond fund actively managed by Brookstone. Both are actively managed. Over the past year, JAAA returned 5.06% vs 2.93% for BAMU. At a 0.00 correlation, their price movements are largely independent. JAAA charges 0.20%/yr vs 1.09%/yr for BAMU.

Performance

JAAA vs. BAMU - Performance Comparison

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

Returns By Period

In the year-to-date period, JAAA achieves a 1.87% return, which is significantly higher than BAMU's 1.06% return.

JAAA

• 1D: -0.02%
• 1M: 0.39%
• YTD: 1.87%
• 6M: 2.45%
• 1Y: 5.06%
• 3Y*: 6.71%
• 5Y*: 4.79%
• 10Y*: —

BAMU

• 1D: 0.02%
• 1M: 0.20%
• YTD: 1.06%
• 6M: 1.25%
• 1Y: 2.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JAAA vs. BAMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JAAA Janus Henderson AAA CLO ETF	1.87%	5.16%	7.43%	2.20%
BAMU Brookstone Ultra-Short Bond ETF	1.06%	3.21%	4.14%	1.20%

Correlation

The correlation between JAAA and BAMU is -0.14, 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 (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Sep 28, 2023	0.00

The correlation between JAAA and BAMU shifts across timeframes, from -0.14 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JAAA vs. BAMU — Risk / Return Rank

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

JAAA

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

BAMU

BAMU Risk / Return Rank: 98
BAMU Sharpe Ratio Rank: 97
BAMU Sortino Ratio Rank: 98
BAMU Omega Ratio Rank: 98
BAMU Calmar Ratio Rank: 99
BAMU Martin Ratio Rank: 99

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.

JAAA vs. BAMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson AAA CLO ETF (JAAA) and Brookstone Ultra-Short Bond ETF (BAMU). 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.

	JAAA	BAMU	Difference
Sharpe ratio: Return per unit of total volatility	5.98	4.98	+1.00
Sortino ratio: Return per unit of downside risk	10.04	8.77	+1.28
Omega ratio: Gain probability vs. loss probability	2.69	2.41	+0.28
Calmar ratio: Return relative to maximum drawdown	13.07	24.89	-11.82
Martin ratio: Return relative to average drawdown	70.18	97.89	-27.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JAAA vs. BAMU - Sharpe Ratio Comparison

The current JAAA Sharpe Ratio is 5.98, which is comparable to the BAMU Sharpe Ratio of 4.98. The chart below compares the historical Sharpe Ratios of JAAA and BAMU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JAAA	BAMU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.98	4.98	+1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.77	4.14	-1.37

Drawdowns

JAAA vs. BAMU - Drawdown Comparison

The maximum JAAA drawdown since its inception was -2.64%, which is greater than BAMU's maximum drawdown of -0.36%. Use the drawdown chart below to compare losses from any high point for JAAA and BAMU.

Drawdown Indicators

	JAAA	BAMU	Difference
Max Drawdown Largest peak-to-trough decline	-2.64%	-0.36%	-2.28%
Max Drawdown (1Y) Largest decline over 1 year	-0.39%	-0.12%	-0.27%
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	-0.02%	0.00%	-0.02%
Average Drawdown Average peak-to-trough decline	-0.25%	-0.02%	-0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.07%	0.03%	+0.04%

Volatility

JAAA vs. BAMU - Volatility Comparison

Janus Henderson AAA CLO ETF (JAAA) has a higher volatility of 0.13% compared to Brookstone Ultra-Short Bond ETF (BAMU) at 0.07%. This indicates that JAAA's price experiences larger fluctuations and is considered to be riskier than BAMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JAAA	BAMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.13%	0.07%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	0.64%	0.43%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	0.85%	0.59%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.68%	0.87%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.64%	0.87%	+0.77%

JAAA vs. BAMU - Expense Ratio Comparison

JAAA has a 0.20% expense ratio, which is lower than BAMU's 1.09% expense ratio.

Dividends

JAAA vs. BAMU - Dividend Comparison

JAAA's dividend yield for the trailing twelve months is around 5.00%, more than BAMU's 3.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BAMU Brookstone Ultra-Short Bond ETF	3.06%	3.20%	3.97%	0.84%	0.00%	0.00%	0.00%
JAAA Janus Henderson AAA CLO ETF	5.00%	5.30%	6.35%	6.11%	2.74%	1.21%	0.26%

Frequently Asked Questions

Can I hold both JAAA and BAMU in my portfolio?

JAAA and BAMU have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JAAA or BAMU?

JAAA has higher volatility (0.13%) compared to BAMU (0.07%). In terms of maximum drawdown, JAAA dropped -2.64% vs BAMU's -0.36%.

Which ETF is better, JAAA or BAMU?

On 1-year performance, JAAA leads with 5.06% vs 2.93% for BAMU. On fees, JAAA is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JAAA or BAMU?

Over the 1-year period, JAAA has performed better with a 5.06% return vs 2.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JAAA or BAMU?

JAAA is cheaper with a 0.20% expense ratio, compared with 1.09% for BAMU.

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

JAAA has the higher dividend yield at 5.00%, compared with 3.06% for BAMU.

What is the main difference between JAAA and BAMU?

JAAA is categorized as CLO, while BAMU is Ultrashort Bond. They also come from different issuers: Janus Henderson and Brookstone. Their fees differ too: 0.20% for JAAA and 1.09% for BAMU.

Which has better risk-adjusted returns?

JAAA currently has the higher Sharpe Ratio (5.98 vs 4.98), 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.