JANW vs. BBDC
JANW (AllianzIM U.S. Large Cap Buffer20 Jan ETF) is Options Trading fund actively managed by Allianz, while BBDC (Barings BDC, Inc.) is a stock. Over the past 5 years, JANW returned 8.08%/yr vs 6.45%/yr for BBDC. At a 0.39 correlation, their price movements are largely independent.
Performance
JANW vs. BBDC - Performance Comparison
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Returns By Period
In the year-to-date period, JANW achieves a 4.00% return, which is significantly higher than BBDC's -2.86% return.
JANW
- 1D
- 0.18%
- 1M
- 0.23%
- YTD
- 4.00%
- 6M
- 4.45%
- 1Y
- 12.31%
- 3Y*
- 10.44%
- 5Y*
- 8.08%
- 10Y*
- —
BBDC
- 1D
- 0.00%
- 1M
- 0.43%
- YTD
- -2.86%
- 6M
- -1.25%
- 1Y
- 4.66%
- 3Y*
- 14.63%
- 5Y*
- 6.45%
- 10Y*
- —
JANW vs. BBDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JANW AllianzIM U.S. Large Cap Buffer20 Jan ETF | 4.00% | 10.05% | 10.99% | 14.56% | -0.60% | 6.31% |
BBDC Barings BDC, Inc. | -2.86% | 8.84% | 23.86% | 18.53% | -18.59% | 29.31% |
Correlation
The correlation between JANW and BBDC is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2021 | 0.39 |
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Return for Risk
JANW vs. BBDC — Risk / Return Rank
JANW
BBDC
JANW vs. BBDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) and Barings BDC, Inc. (BBDC). 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.
| JANW | BBDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.28 | ||
| Sortino ratioReturn per unit of downside risk | +3.26 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.05 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 0.33 | +2.90 |
| Martin ratioReturn relative to average drawdown | 17.55 | 0.73 | +16.82 |
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Drawdowns
JANW vs. BBDC - Drawdown Comparison
The maximum JANW drawdown since its inception was -9.69%, smaller than the maximum BBDC drawdown of -48.45%. Use the drawdown chart below to compare losses from any high point for JANW and BBDC.
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Drawdown Indicators
| JANW | BBDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.69% | -48.45% | +38.76% |
Max Drawdown (1Y)Largest decline over 1 year | -3.65% | -12.28% | +8.63% |
Max Drawdown (3Y)Largest decline over 3 years | -8.66% | -24.51% | +15.85% |
Max Drawdown (5Y)Largest decline over 5 years | -9.69% | -27.55% | +17.86% |
Current DrawdownCurrent decline from peak | -0.54% | -6.42% | +5.88% |
Average DrawdownAverage peak-to-trough decline | -1.23% | -7.98% | +6.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 5.59% | -4.92% |
Volatility
JANW vs. BBDC - Volatility Comparison
The current volatility for AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) is 1.31%, while Barings BDC, Inc. (BBDC) has a volatility of 6.34%. This indicates that JANW experiences smaller price fluctuations and is considered to be less risky than BBDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JANW | BBDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 6.34% | -5.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.83% | 15.12% | -11.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.71% | 18.60% | -13.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.79% | 19.39% | -12.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.67% | 24.21% | -17.54% |
Dividends
JANW vs. BBDC - Dividend Comparison
JANW has not paid dividends to shareholders, while BBDC's dividend yield for the trailing twelve months is around 12.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBDC Barings BDC, Inc. | 12.99% | 12.96% | 10.87% | 11.89% | 11.66% | 7.44% | 7.07% | 5.25% | 21.24% |
JANW AllianzIM U.S. Large Cap Buffer20 Jan ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JANW and BBDC have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BBDC has higher volatility (6.34%) compared to JANW (1.31%). In terms of maximum drawdown, JANW dropped -9.69% vs BBDC's -48.45%.
JANW currently has the higher Sharpe Ratio (2.50 vs 0.22), 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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