JABS vs. JAAA

Last updated Aug 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. Over the past year, JABS returned 3.98% vs 4.91% for JAAA. Their 0.12 correlation means their historical movements had little consistent relationship. 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 1.80% return, which is significantly lower than JAAA's 2.62% return.

JABS

• 1D: -0.10%
• 1M: 0.12%
• 6M: 1.48%
• YTD: 1.80%
• 1Y: 3.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.21%

JAAA

• 1D: 0.02%
• 1M: 0.32%
• 6M: 2.03%
• YTD: 2.62%
• 1Y: 4.91%
• 3Y*: 6.18%
• 5Y*: 4.89%
• 10Y*: —
• ALL TIME*: 4.53%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JAAA Janus Henderson AAA CLO ETF	$270.67M	$249.72M	$261.40M
JABS Janus Henderson Asset-Backed Securities ETF	$398.40K	$238.92K	$324.11K

JABS vs. JAAA - Yearly Performance Comparison

	2026 (YTD)	2025
JABS Janus Henderson Asset-Backed Securities ETF	1.80%	2.49%
JAAA Janus Henderson AAA CLO ETF	2.62%	2.39%

Correlation

The correlation between JABS and JAAA is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.12

Return for Risk

JABS vs. JAAA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JABS

JABS Risk / Return Rank: 86
JABS Sharpe Ratio Rank: 79
JABS Sortino Ratio Rank: 87
JABS Omega Ratio Rank: 82
JABS Calmar Ratio Rank: 90
JABS Martin Ratio Rank: 90

JAAA

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	JABS	JAAA	Difference
Sharpe ratio: Return per unit of total volatility	2.01	6.23	-4.22
Sortino ratio: Return per unit of downside risk	3.15	10.27	-7.13
Omega ratio: Gain probability vs. loss probability	1.38	2.86	-1.48
Calmar ratio: Return relative to maximum drawdown	4.11	12.71	-8.61
Martin ratio: Return relative to average drawdown	15.73	69.11	-53.38

JABS vs. JAAA - Sharpe Ratio Comparison

The current JABS Sharpe Ratio is 2.01, which is lower than the JAAA Sharpe Ratio of 6.23. The chart below compares the historical Sharpe Ratios of JABS and JAAA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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	-0.97%	-0.39%	-0.58%
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	-0.30%	0.00%	-0.30%
Average Drawdown Average peak-to-trough decline	-0.17%	-0.24%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.25%	0.07%	+0.18%

Volatility

JABS vs. JAAA - Volatility Comparison

Janus Henderson Asset-Backed Securities ETF (JABS) has a higher volatility of 0.74% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.13%. This indicates that JABS's price experiences larger fluctuations and is considered to be riskier than JAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JABS	JAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	0.13%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	1.47%	0.61%	+0.86%
Volatility (1Y) Calculated over the trailing 1-year period	2.00%	0.79%	+1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.02%	1.66%	+0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.02%	1.62%	+0.40%

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 5.00%, more than JAAA's 4.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JAAA Janus Henderson AAA CLO ETF	4.93%	5.30%	6.35%	6.11%	2.74%	1.21%	0.26%
JABS Janus Henderson Asset-Backed Securities ETF	5.00%	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 is riskier, JABS or JAAA?

JABS has higher volatility (0.74%) compared to JAAA (0.13%). In terms of maximum drawdown, JABS dropped -0.97% vs JAAA's -2.64%.

Which ETF is better, JABS or JAAA?

On 1-year performance, JAAA leads with 4.91% vs 3.98% for JABS. On fees, JAAA is cheaper at 0.20% per year. On volatility, JAAA has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JABS or JAAA?

Over the 1-year period, JAAA has performed better with a 4.91% return vs 3.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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?

JABS has the higher dividend yield at 5.00%, compared with 4.93% for JAAA.

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.

Which has better risk-adjusted returns?

JAAA currently has the higher Sharpe Ratio (6.23 vs 2.01), 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.