JAAA vs. ICLO
Compare and contrast key facts about Janus Henderson AAA CLO ETF (JAAA) and Invesco Aaa Clo Floating Rate Note ETF (ICLO).
JAAA and ICLO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JAAA is an actively managed fund by Janus Henderson. It was launched on Oct 16, 2020. ICLO is an actively managed fund by Invesco. It was launched on Dec 9, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: JAAA or ICLO.
Performance
JAAA vs. ICLO - Performance Comparison
Returns By Period
The year-to-date returns for both stocks are quite close, with JAAA having a 6.62% return and ICLO slightly lower at 6.37%.
JAAA
6.62%
0.62%
3.35%
7.85%
N/A
N/A
ICLO
6.37%
0.55%
3.38%
7.80%
N/A
N/A
Key characteristics
| JAAA | ICLO | |
|---|---|---|
| Sharpe Ratio | 10.16 | 6.44 |
| Sortino Ratio | 21.23 | 10.01 |
| Omega Ratio | 6.33 | 3.63 |
| Calmar Ratio | 24.05 | 12.71 |
| Martin Ratio | 233.35 | 102.86 |
| Ulcer Index | 0.03% | 0.08% |
| Daily Std Dev | 0.77% | 1.23% |
| Max Drawdown | -2.60% | -0.83% |
| Current Drawdown | -0.06% | 0.00% |
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JAAA vs. ICLO - Expense Ratio Comparison
JAAA has a 0.21% expense ratio, which is lower than ICLO's 0.26% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Correlation
The correlation between JAAA and ICLO is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Risk-Adjusted Performance
JAAA vs. ICLO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson AAA CLO ETF (JAAA) and Invesco Aaa Clo Floating Rate Note ETF (ICLO). 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.
Dividends
JAAA vs. ICLO - Dividend Comparison
JAAA's dividend yield for the trailing twelve months is around 6.39%, less than ICLO's 7.02% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
JAAA Janus Henderson AAA CLO ETF | 6.39% | 6.10% | 2.77% | 1.21% | 0.26% |
ICLO Invesco Aaa Clo Floating Rate Note ETF | 7.02% | 7.09% | 0.00% | 0.00% | 0.00% |
Drawdowns
JAAA vs. ICLO - Drawdown Comparison
The maximum JAAA drawdown since its inception was -2.60%, which is greater than ICLO's maximum drawdown of -0.83%. Use the drawdown chart below to compare losses from any high point for JAAA and ICLO. For additional features, visit the drawdowns tool.
Volatility
JAAA vs. ICLO - Volatility Comparison
Janus Henderson AAA CLO ETF (JAAA) and Invesco Aaa Clo Floating Rate Note ETF (ICLO) have volatilities of 0.23% and 0.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.