JBBB vs. JIII

Last updated Jun 25, 2026

JBBB (Janus Henderson B-BBB CLO ETF) and JIII (Janus Henderson Income ETF) are both exchange-traded funds - JBBB is a CLO fund actively managed by Janus Henderson, while JIII is a Multisector Bonds fund actively managed by Janus Henderson. Both are actively managed. Over the past year, JBBB returned 4.97% vs 6.29% for JIII. At a 0.23 correlation, their price movements are largely independent. JBBB charges 0.49%/yr vs 0.54%/yr for JIII.

Performance

JBBB vs. JIII - Performance Comparison

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

Returns By Period

In the year-to-date period, JBBB achieves a 2.10% return, which is significantly higher than JIII's 1.77% return.

JBBB

• 1D: 0.42%
• 1M: 0.59%
• YTD: 2.10%
• 6M: 2.18%
• 1Y: 4.97%
• 3Y*: 9.06%
• 5Y*: —
• 10Y*: —

JIII

• 1D: 0.20%
• 1M: 1.27%
• YTD: 1.77%
• 6M: 1.98%
• 1Y: 6.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JBBB vs. JIII - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JBBB Janus Henderson B-BBB CLO ETF	2.10%	4.40%	1.11%
JIII Janus Henderson Income ETF	1.77%	8.28%	0.54%

Correlation

The correlation between JBBB and JIII is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Nov 13, 2024	0.23

Return for Risk

JBBB vs. JIII — Risk / Return Rank

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

JBBB

JBBB Risk / Return Rank: 47
JBBB Sharpe Ratio Rank: 44
JBBB Sortino Ratio Rank: 51
JBBB Omega Ratio Rank: 53
JBBB Calmar Ratio Rank: 45
JBBB Martin Ratio Rank: 45

JIII

JIII Risk / Return Rank: 64
JIII Sharpe Ratio Rank: 60
JIII Sortino Ratio Rank: 63
JIII Omega Ratio Rank: 68
JIII Calmar Ratio Rank: 64
JIII Martin Ratio Rank: 66

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. JIII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson B-BBB CLO ETF (JBBB) and Janus Henderson Income ETF (JIII). 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	JIII	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.74	-0.33
Sortino ratio: Return per unit of downside risk	2.25	2.56	-0.31
Omega ratio: Gain probability vs. loss probability	1.30	1.35	-0.05
Calmar ratio: Return relative to maximum drawdown	2.03	2.78	-0.76
Martin ratio: Return relative to average drawdown	6.80	10.46	-3.66

JBBB vs. JIII - Sharpe Ratio Comparison

The current JBBB Sharpe Ratio is 1.41, which is comparable to the JIII Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of JBBB and JIII, 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

JBBB vs. JIII - Drawdown Comparison

The maximum JBBB drawdown since its inception was -10.79%, which is greater than JIII's maximum drawdown of -3.55%. Use the drawdown chart below to compare losses from any high point for JBBB and JIII.

Drawdown Indicators

	JBBB	JIII	Difference
Max Drawdown Largest peak-to-trough decline	-10.79%	-3.55%	-7.24%
Max Drawdown (1Y) Largest decline over 1 year	-2.46%	-2.27%	-0.19%
Max Drawdown (3Y) Largest decline over 3 years	-4.35%	—	—
Current Drawdown Current decline from peak	-0.52%	-0.28%	-0.24%
Average Drawdown Average peak-to-trough decline	-1.69%	-0.49%	-1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	0.60%	+0.13%

Volatility

JBBB vs. JIII - Volatility Comparison

Janus Henderson B-BBB CLO ETF (JBBB) and Janus Henderson Income ETF (JIII) have volatilities of 1.35% and 1.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JBBB	JIII	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	1.29%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	3.02%	2.88%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	3.54%	3.63%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.21%	4.00%	+1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.21%	4.00%	+1.21%

JBBB vs. JIII - Expense Ratio Comparison

JBBB has a 0.49% expense ratio, which is lower than JIII's 0.54% expense ratio.

Dividends

JBBB vs. JIII - Dividend Comparison

JBBB's dividend yield for the trailing twelve months is around 6.67%, less than JIII's 7.39% yield.

Position	TTM	2025	2024	2023	2022
JBBB Janus Henderson B-BBB CLO ETF	6.67%	7.41%	7.65%	8.10%	5.03%
JIII Janus Henderson Income ETF	7.39%	7.33%	0.44%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JBBB and JIII in my portfolio?

JBBB and JIII have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JBBB or JIII?

JBBB has higher volatility (1.35%) compared to JIII (1.29%). In terms of maximum drawdown, JBBB dropped -10.79% vs JIII's -3.55%.

Which ETF is better, JBBB or JIII?

On 1-year performance, JIII leads with 6.29% vs 4.97% for JBBB. On fees, JBBB is cheaper at 0.49% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JBBB or JIII?

Over the 1-year period, JIII has performed better with a 6.29% return vs 4.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JBBB or JIII?

JBBB is cheaper with a 0.49% expense ratio, compared with 0.54% for JIII.

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

JIII has the higher dividend yield at 7.39%, compared with 6.67% for JBBB.

What is the main difference between JBBB and JIII?

JBBB is categorized as CLO, while JIII is Multisector Bonds. Their fees differ too: 0.49% for JBBB and 0.54% for JIII.

Which has better risk-adjusted returns?

JIII currently has the higher Sharpe Ratio (1.74 vs 1.41), 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.