JBBB vs. AAAD

Last updated Jul 17, 2026

JBBB (Janus Henderson B-BBB CLO ETF) and AAAD (PGIM AAA CLO Aggregate Duration ETF) are both CLO funds. Both are actively managed. At a 0.21 correlation, their price movements are largely independent. JBBB charges 0.49%/yr vs 0.19%/yr for AAAD.

Performance

JBBB vs. AAAD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson B-BBB CLO ETF (JBBB) and PGIM AAA CLO Aggregate Duration ETF (AAAD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

JBBB

• 1D: 0.11%
• 1M: 0.47%
• 6M: 1.93%
• YTD: 2.53%
• 1Y: 5.24%
• 3Y*: 8.62%
• 5Y*: —
• 10Y*: —

AAAD

• 1D: -0.03%
• 1M: -0.30%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JBBB vs. AAAD - Yearly Performance Comparison

	2026 (YTD)
JBBB Janus Henderson B-BBB CLO ETF	0.68%
AAAD PGIM AAA CLO Aggregate Duration ETF	0.20%

Correlation

The correlation between JBBB and AAAD is 0.21, 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 Jun 3, 2026	0.21

Return for Risk

JBBB vs. AAAD — Risk / Return Rank

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

JBBB

JBBB Risk / Return Rank: 58
JBBB Sharpe Ratio Rank: 55
JBBB Sortino Ratio Rank: 64
JBBB Omega Ratio Rank: 68
JBBB Calmar Ratio Rank: 52
JBBB Martin Ratio Rank: 52

AAAD

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

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.

JBBB vs. AAAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson B-BBB CLO ETF (JBBB) and PGIM AAA CLO Aggregate Duration ETF (AAAD). 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.

	JBBB	AAAD	Difference
Sharpe ratio: Return per unit of total volatility	1.51	—	—
Sortino ratio: Return per unit of downside risk	2.39	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.14	—	—
Martin ratio: Return relative to average drawdown	7.15	—	—

Drawdowns

JBBB vs. AAAD - Drawdown Comparison

The maximum JBBB drawdown since its inception was -10.79%, which is greater than AAAD's maximum drawdown of -1.13%. Use the drawdown chart below to compare losses from any high point for JBBB and AAAD.

Drawdown Indicators

	JBBB	AAAD	Difference
Max Drawdown Largest peak-to-trough decline	-10.79%	-1.13%	-9.66%
Max Drawdown (1Y) Largest decline over 1 year	-2.46%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.35%	—	—
Current Drawdown Current decline from peak	-0.10%	-0.76%	+0.66%
Average Drawdown Average peak-to-trough decline	-1.67%	-0.37%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	—	—

Volatility

Volatility by Period

	JBBB	AAAD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.06%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.50%	3.65%	-0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.19%	3.65%	+1.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.19%	3.65%	+1.54%

JBBB vs. AAAD - Expense Ratio Comparison

JBBB has a 0.49% expense ratio, which is higher than AAAD's 0.19% expense ratio.

Dividends

JBBB vs. AAAD - Dividend Comparison

JBBB's dividend yield for the trailing twelve months is around 6.46%, more than AAAD's 0.03% yield.

Position	TTM	2025	2024	2023	2022
AAAD PGIM AAA CLO Aggregate Duration ETF	0.03%	0.00%	0.00%	0.00%	0.00%
JBBB Janus Henderson B-BBB CLO ETF	6.46%	7.41%	7.65%	8.10%	5.03%

Frequently Asked Questions

Can I hold both JBBB and AAAD in my portfolio?

JBBB and AAAD have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JBBB or AAAD?

On fees, AAAD is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JBBB or AAAD?

AAAD is cheaper with a 0.19% expense ratio, compared with 0.49% for JBBB.

Which ETF pays a higher dividend yield, JBBB or AAAD?

JBBB has the higher dividend yield at 6.46%, compared with 0.03% for AAAD.

What is the main difference between JBBB and AAAD?

They also come from different issuers: Janus Henderson and PGIM. Their fees differ too: 0.49% for JBBB and 0.19% for AAAD.