JAAA vs. BTC-USD
JAAA (Janus Henderson AAA CLO ETF) is CLO fund actively managed by Janus Henderson, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 5 years, JAAA returned 4.85%/yr vs 15.58%/yr for BTC-USD. At a 0.03 correlation, their price movements are largely independent.
Performance
JAAA vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, JAAA achieves a 2.39% return, which is significantly higher than BTC-USD's -23.90% return.
JAAA
- 1D
- 0.02%
- 1M
- 0.32%
- 6M
- 2.05%
- YTD
- 2.39%
- 1Y
- 4.90%
- 3Y*
- 6.31%
- 5Y*
- 4.85%
- 10Y*
- —
- ALL TIME*
- 4.52%
BTC-USD
- 1D
- 2.10%
- 1M
- 5.29%
- 6M
- -24.60%
- YTD
- -23.90%
- 1Y
- -43.30%
- 3Y*
- 30.74%
- 5Y*
- 15.58%
- 10Y*
- 58.69%
- ALL TIME*
- 89.03%
JAAA vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JAAA Janus Henderson AAA CLO ETF | 2.39% | 5.16% | 7.43% | 8.59% | 0.49% | 1.39% | 0.76% |
BTC-USD Bitcoin | -23.90% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 151.78% |
Correlation
The correlation between JAAA and BTC-USD is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2020 | 0.03 |
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Return for Risk
JAAA vs. BTC-USD — Risk / Return Rank
JAAA
BTC-USD
JAAA vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson AAA CLO ETF (JAAA) and Bitcoin (BTC-USD). 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.
| JAAA | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.15 | ||
| Sortino ratioReturn per unit of downside risk | +11.61 | ||
| Omega ratioGain probability vs. loss probability | 2.79 | 0.85 | +1.94 |
| Calmar ratioReturn relative to maximum drawdown | 12.68 | -0.82 | +13.50 |
| Martin ratioReturn relative to average drawdown | 68.84 | -1.30 | +70.14 |
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Drawdowns
JAAA vs. BTC-USD - Drawdown Comparison
The maximum JAAA drawdown since its inception was -2.64%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for JAAA and BTC-USD.
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Drawdown Indicators
| JAAA | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.64% | -85.30% | +82.66% |
Max Drawdown (1Y)Largest decline over 1 year | -0.39% | -53.08% | +52.69% |
Max Drawdown (3Y)Largest decline over 3 years | -1.46% | -53.08% | +51.62% |
Max Drawdown (5Y)Largest decline over 5 years | -2.64% | -76.67% | +74.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | 0.00% | -46.61% | +46.61% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -42.62% | +42.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 27.11% | -27.04% |
Volatility
JAAA vs. BTC-USD - Volatility Comparison
The current volatility for Janus Henderson AAA CLO ETF (JAAA) is 0.15%, while Bitcoin (BTC-USD) has a volatility of 9.38%. This indicates that JAAA experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JAAA | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 9.38% | -9.23% |
Volatility (6M)Calculated over the trailing 6-month period | 0.62% | 34.69% | -34.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.80% | 35.80% | -35.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.66% | 43.84% | -42.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.63% | 56.33% | -54.70% |
Frequently Asked Questions
JAAA and BTC-USD have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (9.38%) compared to JAAA (0.15%). In terms of maximum drawdown, JAAA dropped -2.64% vs BTC-USD's -85.30%.
JAAA currently has the higher Sharpe Ratio (6.15 vs -1.01), 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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