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 4.80%/yr vs 10.82%/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 1.95% return, which is significantly higher than BTC-USD's -28.54% return.
JAAA
- 1D
- 0.02%
- 1M
- 0.35%
- YTD
- 1.95%
- 6M
- 2.57%
- 1Y
- 5.12%
- 3Y*
- 6.67%
- 5Y*
- 4.80%
- 10Y*
- —
BTC-USD
- 1D
- -1.22%
- 1M
- -22.47%
- YTD
- -28.54%
- 6M
- -31.02%
- 1Y
- -40.89%
- 3Y*
- 33.16%
- 5Y*
- 10.82%
- 10Y*
- 59.68%
JAAA vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JAAA Janus Henderson AAA CLO ETF | 1.95% | 5.16% | 7.43% | 8.59% | 0.49% | 1.39% | 0.79% |
BTC-USD Bitcoin | -28.54% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 146.50% |
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 20, 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.
| JAAA | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.10 | ||
| Sortino ratioReturn per unit of downside risk | +11.66 | ||
| Omega ratioGain probability vs. loss probability | 2.77 | 0.86 | +1.90 |
| Calmar ratioReturn relative to maximum drawdown | 13.24 | -0.80 | +14.03 |
| Martin ratioReturn relative to average drawdown | 71.21 | -1.42 | +72.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JAAA | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.15 | -0.95 | +7.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.88 | 0.20 | +2.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.78 | 1.13 | +1.65 |
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% | -51.21% | +50.82% |
Max Drawdown (3Y)Largest decline over 3 years | -1.46% | -51.21% | +49.75% |
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% | -49.86% | +49.86% |
Average DrawdownAverage peak-to-trough decline | -0.25% | -42.32% | +42.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 34.46% | -34.39% |
Volatility
JAAA vs. BTC-USD - Volatility Comparison
The current volatility for Janus Henderson AAA CLO ETF (JAAA) is 0.13%, while Bitcoin (BTC-USD) has a volatility of 11.59%. 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 | 0.13% | 11.59% | -11.46% |
Volatility (6M)Calculated over the trailing 6-month period | 0.64% | 34.53% | -33.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.84% | 35.67% | -34.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.68% | 44.95% | -43.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.64% | 56.71% | -55.07% |
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 (11.59%) compared to JAAA (0.13%). 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 -0.95), 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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