JAAA vs. XFLT
JAAA (Janus Henderson AAA CLO ETF) is CLO fund actively managed by Janus Henderson, while XFLT (XAI Octagon Floating Rate & Alternative Income Term Trust) is a stock. Over the past 5 years, JAAA returned 4.76%/yr vs -4.53%/yr for XFLT. At a 0.08 correlation, their price movements are largely independent.
Performance
JAAA vs. XFLT - Performance Comparison
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Returns By Period
In the year-to-date period, JAAA achieves a 1.99% return, which is significantly higher than XFLT's -19.80% return.
JAAA
- 1D
- 0.02%
- 1M
- 0.33%
- YTD
- 1.99%
- 6M
- 2.49%
- 1Y
- 4.99%
- 3Y*
- 6.67%
- 5Y*
- 4.76%
- 10Y*
- —
XFLT
- 1D
- 0.28%
- 1M
- -6.21%
- YTD
- -19.80%
- 6M
- -15.02%
- 1Y
- -26.28%
- 3Y*
- -4.75%
- 5Y*
- -4.53%
- 10Y*
- —
JAAA vs. XFLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JAAA Janus Henderson AAA CLO ETF | 1.99% | 5.16% | 7.43% | 8.59% | 0.49% | 1.39% | 0.76% |
XFLT XAI Octagon Floating Rate & Alternative Income Term Trust | -19.80% | -15.35% | 7.37% | 30.40% | -20.30% | 31.30% | 9.56% |
Correlation
The correlation between JAAA and XFLT is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2020 | 0.08 |
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Return for Risk
JAAA vs. XFLT — Risk / Return Rank
JAAA
XFLT
JAAA vs. XFLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson AAA CLO ETF (JAAA) and XAI Octagon Floating Rate & Alternative Income Term Trust (XFLT). 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 | XFLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.32 | ||
| Sortino ratioReturn per unit of downside risk | +11.96 | ||
| Omega ratioGain probability vs. loss probability | 2.72 | 0.78 | +1.95 |
| Calmar ratioReturn relative to maximum drawdown | 12.91 | -0.65 | +13.56 |
| Martin ratioReturn relative to average drawdown | 69.57 | -1.34 | +70.91 |
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Drawdowns
JAAA vs. XFLT - Drawdown Comparison
The maximum JAAA drawdown since its inception was -2.64%, smaller than the maximum XFLT drawdown of -55.43%. Use the drawdown chart below to compare losses from any high point for JAAA and XFLT.
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Drawdown Indicators
| JAAA | XFLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.64% | -55.43% | +52.79% |
Max Drawdown (1Y)Largest decline over 1 year | -0.39% | -40.67% | +40.28% |
Max Drawdown (3Y)Largest decline over 3 years | -1.46% | -47.04% | +45.58% |
Max Drawdown (5Y)Largest decline over 5 years | -2.64% | -47.04% | +44.40% |
Current DrawdownCurrent decline from peak | 0.00% | -36.23% | +36.23% |
Average DrawdownAverage peak-to-trough decline | -0.25% | -14.43% | +14.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 19.64% | -19.57% |
Volatility
JAAA vs. XFLT - Volatility Comparison
The current volatility for Janus Henderson AAA CLO ETF (JAAA) is 0.12%, while XAI Octagon Floating Rate & Alternative Income Term Trust (XFLT) has a volatility of 3.23%. This indicates that JAAA experiences smaller price fluctuations and is considered to be less risky than XFLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JAAA | XFLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.12% | 3.23% | -3.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.63% | 18.38% | -17.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.83% | 20.44% | -19.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.67% | 21.11% | -19.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.64% | 26.14% | -24.50% |
Dividends
JAAA vs. XFLT - Dividend Comparison
JAAA's dividend yield for the trailing twelve months is around 4.99%, less than XFLT's 21.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
XFLT XAI Octagon Floating Rate & Alternative Income Term Trust | 21.19% | 18.23% | 15.24% | 13.61% | 13.86% | 9.82% | 10.64% | 10.63% | 11.33% | 1.47% |
Frequently Asked Questions
JAAA and XFLT have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XFLT has higher volatility (3.23%) compared to JAAA (0.12%). In terms of maximum drawdown, JAAA dropped -2.64% vs XFLT's -55.43%.
JAAA currently has the higher Sharpe Ratio (6.03 vs -1.29), 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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