JBBB vs. BCLO

Last updated Apr 1, 2026

Compare and contrast key facts about Janus Henderson B-BBB CLO ETF (JBBB) and iShares BBB-B CLO Active ETF (BCLO).

JBBB and BCLO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JBBB is an actively managed fund by Janus Henderson. It was launched on Jan 11, 2022. BCLO is a passively managed fund by iShares that tracks the performance of the JP Morgan CLOIE High Quality Mezzanine Index. It was launched on Jan 29, 2025.

Performance

JBBB vs. BCLO - Performance Comparison

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

JBBB vs. BCLO - Yearly Performance Comparison

	2026 (YTD)	2025
JBBB Janus Henderson B-BBB CLO ETF	-0.81%	4.37%
BCLO iShares BBB-B CLO Active ETF	-0.18%	5.43%

Returns By Period

In the year-to-date period, JBBB achieves a -0.81% return, which is significantly lower than BCLO's -0.18% return.

JBBB

• 1D: -0.05%
• 1M: 0.25%
• YTD: -0.81%
• 6M: 0.58%
• 1Y: 3.88%
• 3Y*: 10.83%
• 5Y*: —
• 10Y*: —

BCLO

• 1D: 0.00%
• 1M: 0.07%
• YTD: -0.18%
• 6M: 0.88%
• 1Y: 5.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JBBB vs. BCLO - Expense Ratio Comparison

JBBB has a 0.49% expense ratio, which is higher than BCLO's 0.45% expense ratio.

JBBB

Janus Henderson B-BBB CLO ETF

BCLO

iShares BBB-B CLO Active ETF

Return for Risk

JBBB vs. BCLO — Risk / Return Rank

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

JBBB

JBBB Risk / Return Rank: 49
JBBB Sharpe Ratio Rank: 45
JBBB Sortino Ratio Rank: 42
JBBB Omega Ratio Rank: 51
JBBB Calmar Ratio Rank: 52
JBBB Martin Ratio Rank: 56

BCLO

BCLO Risk / Return Rank: 66
BCLO Sharpe Ratio Rank: 65
BCLO Sortino Ratio Rank: 54
BCLO Omega Ratio Rank: 90
BCLO Calmar Ratio Rank: 51
BCLO Martin Ratio Rank: 67

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. BCLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson B-BBB CLO ETF (JBBB) and iShares BBB-B CLO Active ETF (BCLO). 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.

	JBBB	BCLO	Difference
Sharpe ratio Return per unit of total volatility	0.78	1.15	-0.37
Sortino ratio Return per unit of downside risk	1.11	1.43	-0.32
Omega ratio Gain probability vs. loss probability	1.18	1.38	-0.20
Calmar ratio Return relative to maximum drawdown	1.22	1.32	-0.10
Martin ratio Return relative to average drawdown	5.00	6.82	-1.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JBBB vs. BCLO - Sharpe Ratio Comparison

The current JBBB Sharpe Ratio is 0.78, which is lower than the BCLO Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of JBBB and BCLO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JBBB	BCLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	1.15	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	1.22	0.98	+0.23

Correlation

The correlation between JBBB and BCLO is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

JBBB vs. BCLO - Dividend Comparison

JBBB's dividend yield for the trailing twelve months is around 8.38%, more than BCLO's 6.92% yield.

	TTM	2025	2024	2023	2022
JBBB Janus Henderson B-BBB CLO ETF	8.38%	8.41%	9.24%	8.71%	5.71%
BCLO iShares BBB-B CLO Active ETF	6.92%	6.45%	0.00%	0.00%	0.00%

Drawdowns

JBBB vs. BCLO - Drawdown Comparison

The maximum JBBB drawdown since its inception was -10.57%, which is greater than BCLO's maximum drawdown of -4.45%. Use the drawdown chart below to compare losses from any high point for JBBB and BCLO.

Drawdown Indicators

	JBBB	BCLO	Difference
Max Drawdown Largest peak-to-trough decline	-10.57%	-4.45%	-6.12%
Max Drawdown (1Y) Largest decline over 1 year	-3.49%	-3.91%	+0.42%
Current Drawdown Current decline from peak	-2.01%	-1.23%	-0.78%
Average Drawdown Average peak-to-trough decline	-1.62%	-0.43%	-1.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	0.76%	+0.09%

Volatility

JBBB vs. BCLO - Volatility Comparison

Janus Henderson B-BBB CLO ETF (JBBB) has a higher volatility of 1.96% compared to iShares BBB-B CLO Active ETF (BCLO) at 0.79%. This indicates that JBBB's price experiences larger fluctuations and is considered to be riskier than BCLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JBBB	BCLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.96%	0.79%	+1.17%
Volatility (6M) Calculated over the trailing 6-month period	2.60%	1.51%	+1.09%
Volatility (1Y) Calculated over the trailing 1-year period	5.04%	4.80%	+0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.33%	4.58%	+0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.33%	4.58%	+0.75%