JANW vs. PSEC

Last updated Jun 13, 2026

JANW (AllianzIM U.S. Large Cap Buffer20 Jan ETF) is Options Trading fund actively managed by Allianz, while PSEC (Prospect Capital Corporation) is a stock. Over the past 5 years, JANW returned 8.08%/yr vs -13.87%/yr for PSEC. At a 0.43 correlation, their price movements are largely independent.

Performance

JANW vs. PSEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) and Prospect Capital Corporation (PSEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JANW achieves a 4.00% return, which is significantly higher than PSEC's -3.27% return.

JANW

• 1D: 0.18%
• 1M: 0.23%
• YTD: 4.00%
• 6M: 4.45%
• 1Y: 12.31%
• 3Y*: 10.44%
• 5Y*: 8.08%
• 10Y*: —

PSEC

• 1D: 1.32%
• 1M: 7.59%
• YTD: -3.27%
• 6M: -2.63%
• 1Y: -14.85%
• 3Y*: -16.85%
• 5Y*: -13.87%
• 10Y*: 0.41%

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

JANW vs. PSEC - 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%
PSEC Prospect Capital Corporation	-3.27%	-28.86%	-18.16%	-4.13%	-8.61%	70.00%

Correlation

The correlation between JANW and PSEC is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jan 4, 2021	0.43

The correlation between JANW and PSEC shifts across timeframes, from 0.29 (1 year) to 0.45 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

JANW vs. PSEC — Risk / Return Rank

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

JANW

JANW Risk / Return Rank: 86
JANW Sharpe Ratio Rank: 87
JANW Sortino Ratio Rank: 90
JANW Omega Ratio Rank: 91
JANW Calmar Ratio Rank: 72
JANW Martin Ratio Rank: 89

PSEC

PSEC Risk / Return Rank: 20
PSEC Sharpe Ratio Rank: 21
PSEC Sortino Ratio Rank: 20
PSEC Omega Ratio Rank: 21
PSEC Calmar Ratio Rank: 20
PSEC Martin Ratio Rank: 18

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.

JANW vs. PSEC - 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 Prospect Capital Corporation (PSEC). 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	PSEC	Difference
Sharpe ratio: Return per unit of total volatility	2.50	-0.50	+3.00
Sortino ratio: Return per unit of downside risk	3.71	-0.54	+4.25
Omega ratio: Gain probability vs. loss probability	1.54	0.94	+0.60
Calmar ratio: Return relative to maximum drawdown	3.23	-0.63	+3.86
Martin ratio: Return relative to average drawdown	17.55	-1.13	+18.67

JANW vs. PSEC - Sharpe Ratio Comparison

The current JANW Sharpe Ratio is 2.50, which is higher than the PSEC Sharpe Ratio of -0.50. The chart below compares the historical Sharpe Ratios of JANW and PSEC, 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

JANW vs. PSEC - Drawdown Comparison

The maximum JANW drawdown since its inception was -9.69%, smaller than the maximum PSEC drawdown of -61.51%. Use the drawdown chart below to compare losses from any high point for JANW and PSEC.

Drawdown Indicators

	JANW	PSEC	Difference
Max Drawdown Largest peak-to-trough decline	-9.69%	-61.51%	+51.82%
Max Drawdown (1Y) Largest decline over 1 year	-3.65%	-27.04%	+23.39%
Max Drawdown (3Y) Largest decline over 3 years	-8.66%	-50.64%	+41.98%
Max Drawdown (5Y) Largest decline over 5 years	-9.69%	-57.21%	+47.52%
Max Drawdown (10Y) Largest decline over 10 years	—	-57.21%	—
Current Drawdown Current decline from peak	-0.54%	-53.33%	+52.79%
Average Drawdown Average peak-to-trough decline	-1.23%	-15.65%	+14.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	15.04%	-14.37%

Volatility

JANW vs. PSEC - Volatility Comparison

The current volatility for AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) is 1.31%, while Prospect Capital Corporation (PSEC) has a volatility of 10.61%. This indicates that JANW experiences smaller price fluctuations and is considered to be less risky than PSEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JANW	PSEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	10.61%	-9.30%
Volatility (6M) Calculated over the trailing 6-month period	3.83%	27.53%	-23.70%
Volatility (1Y) Calculated over the trailing 1-year period	4.71%	33.82%	-29.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.79%	28.06%	-21.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.67%	27.36%	-20.69%

Dividends

JANW vs. PSEC - Dividend Comparison

JANW has not paid dividends to shareholders, while PSEC's dividend yield for the trailing twelve months is around 22.94%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%	0.00%
PSEC Prospect Capital Corporation	22.94%	20.85%	16.01%	12.02%	10.30%	8.56%	13.31%	11.18%	11.41%	13.45%	11.98%	14.72%

Frequently Asked Questions

Can I hold both JANW and PSEC in my portfolio?

JANW and PSEC have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JANW or PSEC?

PSEC has higher volatility (10.61%) compared to JANW (1.31%). In terms of maximum drawdown, JANW dropped -9.69% vs PSEC's -61.51%.

Which has better risk-adjusted returns?

JANW currently has the higher Sharpe Ratio (2.50 vs -0.50), 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.