JABS vs. JAAA

Last updated Jun 4, 2026

JABS (Janus Henderson Asset-Backed Securities ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - JABS is a Short-Term Bond fund actively managed by Janus Henderson, while JAAA is a CLO fund actively managed by Janus Henderson. Both are actively managed. At a 0.14 correlation, their price movements are largely independent. JABS charges 0.33%/yr vs 0.20%/yr for JAAA.

Performance

JABS vs. JAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Asset-Backed Securities ETF (JABS) and Janus Henderson AAA CLO ETF (JAAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JABS achieves a 1.29% return, which is significantly lower than JAAA's 1.87% return.

JABS

• 1D: -0.12%
• 1M: 0.33%
• YTD: 1.29%
• 6M: 1.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JAAA

• 1D: -0.02%
• 1M: 0.39%
• YTD: 1.87%
• 6M: 2.45%
• 1Y: 5.06%
• 3Y*: 6.71%
• 5Y*: 4.79%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

JABS vs. JAAA - Yearly Performance Comparison

	2026 (YTD)	2025
JABS Janus Henderson Asset-Backed Securities ETF	1.29%	2.49%
JAAA Janus Henderson AAA CLO ETF	1.87%	2.45%

Correlation

The correlation between JABS and JAAA is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.14

Return for Risk

JABS vs. JAAA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JAAA

JAAA Risk / Return Rank: 98
JAAA Sharpe Ratio Rank: 98
JAAA Sortino Ratio Rank: 99
JAAA Omega Ratio Rank: 99
JAAA Calmar Ratio Rank: 98
JAAA Martin Ratio Rank: 98

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.

JABS vs. JAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Asset-Backed Securities ETF (JABS) and Janus Henderson AAA CLO ETF (JAAA). 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.

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

Sharpe Ratios by Period

	JABS	JAAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	5.98	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	2.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.23	2.77	-0.55

Drawdowns

JABS vs. JAAA - Drawdown Comparison

The maximum JABS drawdown since its inception was -0.97%, smaller than the maximum JAAA drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for JABS and JAAA.

Drawdown Indicators

	JABS	JAAA	Difference
Max Drawdown Largest peak-to-trough decline	-0.97%	-2.64%	+1.67%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.39%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.64%	—
Current Drawdown Current decline from peak	-0.12%	-0.02%	-0.10%
Average Drawdown Average peak-to-trough decline	-0.18%	-0.25%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.07%	—

Volatility

Volatility by Period

	JABS	JAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.13%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.64%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.00%	0.85%	+1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.00%	1.68%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.00%	1.64%	+0.36%

JABS vs. JAAA - Expense Ratio Comparison

JABS has a 0.33% expense ratio, which is higher than JAAA's 0.20% expense ratio.

Dividends

JABS vs. JAAA - Dividend Comparison

JABS's dividend yield for the trailing twelve months is around 4.19%, less than JAAA's 5.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JAAA Janus Henderson AAA CLO ETF	5.00%	5.30%	6.35%	6.11%	2.74%	1.21%	0.26%
JABS Janus Henderson Asset-Backed Securities ETF	4.19%	2.19%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JABS and JAAA in my portfolio?

JABS and JAAA 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.

Which ETF is better, JABS or JAAA?

On fees, JAAA is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JABS or JAAA?

JAAA is cheaper with a 0.20% expense ratio, compared with 0.33% for JABS.

Which ETF pays a higher dividend yield, JABS or JAAA?

JAAA has the higher dividend yield at 5.00%, compared with 4.19% for JABS.

What is the main difference between JABS and JAAA?

JABS is categorized as Short-Term Bond, while JAAA is CLO. Their fees differ too: 0.33% for JABS and 0.20% for JAAA.