PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
JAAA vs. JMSIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JAAA vs. JMSIX

Last updated Jun 14, 2026

JAAA (Janus Henderson AAA CLO ETF) and JMSIX (JPMorgan Income Fund) are both funds - JAAA is a CLO fund actively managed by Janus Henderson, while JMSIX is a Multisector Bonds fund managed by JPMorgan. Over the past 5 years, JAAA returned 4.76%/yr vs 2.76%/yr for JMSIX. At a 0.05 correlation, their price movements are largely independent. JAAA charges 0.20%/yr vs 0.40%/yr for JMSIX.

Performance

JAAA vs. JMSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson AAA CLO ETF (JAAA) and JPMorgan Income Fund (JMSIX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, JAAA achieves a 1.99% return, which is significantly higher than JMSIX's 1.23% return.

JAAA

1D
0.02%
1M
0.33%
YTD
1.99%
6M
2.49%
1Y
5.01%
3Y*
6.67%
5Y*
4.76%
10Y*
—

JMSIX

1D
0.12%
1M
0.74%
YTD
1.23%
6M
1.85%
1Y
5.68%
3Y*
7.12%
5Y*
2.76%
10Y*
3.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JAAA vs. JMSIX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
JAAA
Janus Henderson AAA CLO ETF		1.99%5.16%7.43%8.59%0.49%1.39%0.76%
JMSIX
JPMorgan Income Fund		1.23%7.68%7.78%6.14%-8.24%3.59%3.33%

Correlation

The correlation between JAAA and JMSIX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.11

Correlation (3Y)
Calculated over the trailing 3-year period

0.03

Correlation (5Y)
Calculated over the trailing 5-year period

0.06

Correlation (All Time)
Calculated using the full available price history since Oct 19, 2020

0.05

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Janus Henderson AAA CLO ETF

JPMorgan Income Fund

Often compared with JAAA:
JAAA vs. PAAAJAAA vs. JBBBJAAA vs. AAAJAAA vs. CLOZJAAA vs. BINCJAAA vs. BOXXJAAA vs. SGOV
Often compared with JMSIX:
JMSIX vs. PIMIXJMSIX vs. PONPXJMSIX vs. VCOBXJMSIX vs. VFIDXJMSIX vs. IIBAXJMSIX vs. DINDXJMSIX vs. POMIX

Return for Risk

JAAA vs. JMSIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JAAA
JAAA Risk / Return Rank: 9898
Overall Rank
JAAA Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
JAAA Sortino Ratio Rank: 9999
Sortino Ratio Rank
JAAA Omega Ratio Rank: 9999
Omega Ratio Rank
JAAA Calmar Ratio Rank: 9898
Calmar Ratio Rank
JAAA Martin Ratio Rank: 9898
Martin Ratio Rank
JMSIX
JMSIX Risk / Return Rank: 8989
Overall Rank
JMSIX Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
JMSIX Sortino Ratio Rank: 9494
Sortino Ratio Rank
JMSIX Omega Ratio Rank: 9090
Omega Ratio Rank
JMSIX Calmar Ratio Rank: 8787
Calmar Ratio Rank
JMSIX Martin Ratio Rank: 9090
Martin Ratio Rank
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. JMSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson AAA CLO ETF (JAAA) and JPMorgan Income Fund (JMSIX). 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.

JAAAJMSIXDifference
Sharpe ratioReturn per unit of total volatility
6.03
2.27

+3.76

Sortino ratioReturn per unit of downside risk
10.06
4.50

+5.56

Omega ratioGain probability vs. loss probability

2.72

1.60

+1.13

Calmar ratioReturn relative to maximum drawdown

12.91

3.51

+9.40

Martin ratioReturn relative to average drawdown

69.57

14.54

+55.03

JAAA vs. JMSIX - Sharpe Ratio Comparison

The current JAAA Sharpe Ratio is 6.03, which is higher than the JMSIX Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of JAAA and JMSIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

JAAA vs. JMSIX - Drawdown Comparison

The maximum JAAA drawdown since its inception was -2.64%, smaller than the maximum JMSIX drawdown of -18.40%. Use the drawdown chart below to compare losses from any high point for JAAA and JMSIX.

Loading charts...

Drawdown Indicators

JAAAJMSIXDifference

Max Drawdown

Largest peak-to-trough decline

-2.64%

-18.40%

+15.76%

Max Drawdown (1Y)

Largest decline over 1 year

-0.39%

-1.62%

+1.23%

Max Drawdown (3Y)

Largest decline over 3 years

-1.46%

-2.31%

+0.85%

Max Drawdown (5Y)

Largest decline over 5 years

-2.64%

-11.39%

+8.75%

Max Drawdown (10Y)

Largest decline over 10 years

—

-18.40%

—

Current Drawdown

Current decline from peak

0.00%

-0.12%

+0.12%

Average Drawdown

Average peak-to-trough decline

-0.25%

-2.56%

+2.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.07%

0.39%

-0.32%

Volatility

JAAA vs. JMSIX - Volatility Comparison

The current volatility for Janus Henderson AAA CLO ETF (JAAA) is 0.12%, while JPMorgan Income Fund (JMSIX) has a volatility of 0.79%. This indicates that JAAA experiences smaller price fluctuations and is considered to be less risky than JMSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

JAAAJMSIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.12%

0.79%

-0.67%

Volatility (6M)

Calculated over the trailing 6-month period

0.63%

1.89%

-1.26%

Volatility (1Y)

Calculated over the trailing 1-year period

0.83%

2.52%

-1.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.67%

3.73%

-2.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.64%

3.87%

-2.23%

JAAA vs. JMSIX - Expense Ratio Comparison

JAAA has a 0.20% expense ratio, which is lower than JMSIX's 0.40% expense ratio.

Dividends

JAAA vs. JMSIX - Dividend Comparison

JAAA's dividend yield for the trailing twelve months is around 4.99%, less than JMSIX's 6.03% yield.

PositionTTM2025202420232022202120202019201820172016
JAAA
Janus Henderson AAA CLO ETF		4.99%5.30%6.35%6.11%2.74%1.21%0.26%0.00%0.00%0.00%0.00%
JMSIX
JPMorgan Income Fund		6.03%5.95%5.78%4.43%4.78%4.00%4.95%5.10%5.43%5.42%0.46%

Frequently Asked Questions

JAAA and JMSIX 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.

JMSIX has higher volatility (0.79%) compared to JAAA (0.12%). In terms of maximum drawdown, JAAA dropped -2.64% vs JMSIX's -18.40%.

JAAA currently has the higher Sharpe Ratio (6.03 vs 2.27), 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.

Portfolio Optimizer

Find the right allocation for JAAA and JMSIX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer