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JAAA vs. SWVXX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JAAA vs. SWVXX

Last updated Jun 14, 2026

JAAA (Janus Henderson AAA CLO ETF) and SWVXX (Schwab Prime Advantage Money Fund Investor Shares) are both funds - JAAA is a CLO fund actively managed by Janus Henderson, while SWVXX is a Money Market fund actively managed by Charles Schwab. Both are actively managed. Over the past 5 years, JAAA returned 4.76%/yr vs 3.14%/yr for SWVXX. At a 0.04 correlation, their price movements are largely independent. JAAA charges 0.20%/yr vs 0.34%/yr for SWVXX.

Performance

JAAA vs. SWVXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson AAA CLO ETF (JAAA) and Schwab Prime Advantage Money Fund Investor Shares (SWVXX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JAAA achieves a 1.99% return, which is significantly higher than SWVXX's 1.45% return.

JAAA

1D
0.02%
1M
0.31%
YTD
1.99%
6M
2.49%
1Y
5.01%
3Y*
6.67%
5Y*
4.76%
10Y*
—

SWVXX

1D
0.00%
1M
0.29%
YTD
1.45%
6M
1.77%
1Y
3.85%
3Y*
4.71%
5Y*
3.14%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

JAAA vs. SWVXX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
JAAA
Janus Henderson AAA CLO ETF		1.99%5.16%7.43%8.59%0.49%0.94%
SWVXX
Schwab Prime Advantage Money Fund Investor Shares		1.45%4.15%5.16%5.04%0.00%0.00%

Correlation

The correlation between JAAA and SWVXX is 0.10, 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

0.10

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

0.03

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

0.04

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

0.04

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Janus Henderson AAA CLO ETF

Schwab Prime Advantage Money Fund Investor Shares

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Often compared with SWVXX:
SWVXX vs. SGOVSWVXX vs. VMFXXSWVXX vs. SNSXXSWVXX vs. SPAXXSWVXX vs. SHVSWVXX vs. BILSWVXX vs. SWAGX

Return for Risk

JAAA vs. SWVXX — 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
SWVXX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. SWVXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson AAA CLO ETF (JAAA) and Schwab Prime Advantage Money Fund Investor Shares (SWVXX). 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.

JAAASWVXXDifference
Sharpe ratioReturn per unit of total volatility
6.03
3.71

+2.32

Sortino ratioReturn per unit of downside risk
10.06

—

—

Omega ratioGain probability vs. loss probability

2.72

—

—

Calmar ratioReturn relative to maximum drawdown

12.91

—

—

Martin ratioReturn relative to average drawdown

69.57

—

—

JAAA vs. SWVXX - Sharpe Ratio Comparison

The current JAAA Sharpe Ratio is 6.03, which is higher than the SWVXX Sharpe Ratio of 3.71. The chart below compares the historical Sharpe Ratios of JAAA and SWVXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

JAAA vs. SWVXX - Drawdown Comparison

The maximum JAAA drawdown since its inception was -2.64%, which is greater than SWVXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for JAAA and SWVXX.

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Drawdown Indicators

JAAASWVXXDifference

Max Drawdown

Largest peak-to-trough decline

-2.64%

0.00%

-2.64%

Max Drawdown (1Y)

Largest decline over 1 year

-0.39%

0.00%

-0.39%

Max Drawdown (3Y)

Largest decline over 3 years

-1.46%

0.00%

-1.46%

Max Drawdown (5Y)

Largest decline over 5 years

-2.64%

0.00%

-2.64%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-0.25%

0.00%

-0.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.07%

0.00%

+0.07%

Volatility

JAAA vs. SWVXX - Volatility Comparison

The current volatility for Janus Henderson AAA CLO ETF (JAAA) is 0.12%, while Schwab Prime Advantage Money Fund Investor Shares (SWVXX) has a volatility of 0.29%. This indicates that JAAA experiences smaller price fluctuations and is considered to be less risky than SWVXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JAAASWVXXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.12%

0.29%

-0.17%

Volatility (6M)

Calculated over the trailing 6-month period

0.63%

0.76%

-0.13%

Volatility (1Y)

Calculated over the trailing 1-year period

0.83%

1.10%

-0.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.67%

1.09%

+0.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.64%

1.09%

+0.55%

JAAA vs. SWVXX - Expense Ratio Comparison

JAAA has a 0.20% expense ratio, which is lower than SWVXX's 0.34% expense ratio.

Dividends

JAAA vs. SWVXX - Dividend Comparison

JAAA's dividend yield for the trailing twelve months is around 4.99%, more than SWVXX's 3.77% yield.

PositionTTM202520242023202220212020
JAAA
Janus Henderson AAA CLO ETF		4.99%5.30%6.35%6.11%2.74%1.21%0.26%
SWVXX
Schwab Prime Advantage Money Fund Investor Shares		3.77%4.06%5.02%4.91%0.00%0.00%0.00%

Frequently Asked Questions

JAAA and SWVXX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SWVXX has higher volatility (0.29%) compared to JAAA (0.12%). In terms of maximum drawdown, JAAA dropped -2.64% vs SWVXX's 0.00%.

JAAA currently has the higher Sharpe Ratio (6.03 vs 3.71), 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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