JBBB vs. HYGH
JBBB (Janus Henderson B-BBB CLO ETF) and HYGH (iShares Interest Rate Hedged High Yield Bond ETF) are both exchange-traded funds - JBBB is a CLO fund actively managed by Janus Henderson, while HYGH is a High Yield Bonds fund actively managed by iShares. Both are actively managed. Over the past 3 years, JBBB returned 10.46%/yr vs 9.63%/yr for HYGH. At a 0.13 correlation, their price movements are largely independent. JBBB charges 0.49%/yr vs 0.53%/yr for HYGH.
Performance
JBBB vs. HYGH - Performance Comparison
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Returns By Period
In the year-to-date period, JBBB achieves a 2.03% return, which is significantly lower than HYGH's 3.24% return.
JBBB
- 1D
- 0.15%
- 1M
- 0.71%
- YTD
- 2.03%
- 6M
- 2.43%
- 1Y
- 5.67%
- 3Y*
- 10.46%
- 5Y*
- —
- 10Y*
- —
HYGH
- 1D
- 0.17%
- 1M
- 0.91%
- YTD
- 3.24%
- 6M
- 3.69%
- 1Y
- 8.03%
- 3Y*
- 9.63%
- 5Y*
- 7.00%
- 10Y*
- 6.50%
JBBB vs. HYGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JBBB Janus Henderson B-BBB CLO ETF | 2.03% | 5.43% | 12.50% | 17.63% | -5.88% |
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 3.24% | 6.94% | 11.22% | 12.17% | -0.94% |
Correlation
The correlation between JBBB and HYGH is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2022 | 0.13 |
Over the past year, JBBB and HYGH have become more correlated (0.40) than their long-term average of 0.13, meaning their price movements have been converging.
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Return for Risk
JBBB vs. HYGH — Risk / Return Rank
JBBB
HYGH
JBBB vs. HYGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson B-BBB CLO ETF (JBBB) and iShares Interest Rate Hedged High Yield Bond ETF (HYGH). 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 | HYGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.41 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 4.88 | -2.67 |
| Martin ratioReturn relative to average drawdown | 7.50 | 19.08 | -11.58 |
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Drawdowns
JBBB vs. HYGH - Drawdown Comparison
The maximum JBBB drawdown since its inception was -10.57%, smaller than the maximum HYGH drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for JBBB and HYGH.
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Drawdown Indicators
| JBBB | HYGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.57% | -23.88% | +13.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.46% | -1.62% | -0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -3.82% | -8.06% | +4.24% |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.24% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.88% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -2.22% | +0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 0.41% | +0.31% |
Volatility
JBBB vs. HYGH - Volatility Comparison
Janus Henderson B-BBB CLO ETF (JBBB) has a higher volatility of 1.02% compared to iShares Interest Rate Hedged High Yield Bond ETF (HYGH) at 0.68%. This indicates that JBBB's price experiences larger fluctuations and is considered to be riskier than HYGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JBBB | HYGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 0.68% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 2.80% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.45% | 3.66% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.26% | 7.07% | -1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 8.34% | -3.08% |
JBBB vs. HYGH - Expense Ratio Comparison
JBBB has a 0.49% expense ratio, which is lower than HYGH's 0.53% expense ratio.
Dividends
JBBB vs. HYGH - Dividend Comparison
JBBB's dividend yield for the trailing twelve months is around 7.11%, more than HYGH's 6.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGH iShares Interest Rate Hedged High Yield Bond ETF | 6.60% | 6.86% | 7.85% | 8.95% | 6.21% | 3.74% | 4.06% | 4.89% | 6.45% | 4.79% | 4.60% | 5.75% |
JBBB Janus Henderson B-BBB CLO ETF | 7.11% | 8.41% | 9.24% | 8.71% | 5.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JBBB and HYGH have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JBBB has higher volatility (1.02%) compared to HYGH (0.68%). In terms of maximum drawdown, JBBB dropped -10.57% vs HYGH's -23.88%.
On 3-year performance, JBBB leads with 10.46% vs 9.63% for HYGH. On fees, JBBB is cheaper at 0.49% per year. On volatility, HYGH has been the lower-risk option at 0.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JBBB has performed better with a 10.46% return vs 9.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JBBB is cheaper with a 0.49% expense ratio, compared with 0.53% for HYGH.
JBBB has the higher dividend yield at 7.11%, compared with 6.60% for HYGH.
JBBB is categorized as CLO, while HYGH is High Yield Bonds. They also come from different issuers: Janus Henderson and iShares. Their fees differ too: 0.49% for JBBB and 0.53% for HYGH.
HYGH currently has the higher Sharpe Ratio (2.16 vs 1.58), 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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