JBBB vs. SGOV

Last updated Jun 9, 2026

JBBB (Janus Henderson B-BBB CLO ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - JBBB is a CLO fund actively managed by Janus Henderson, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. JBBB is actively managed, while SGOV is passively managed. Over the past 3 years, JBBB returned 10.39%/yr vs 4.70%/yr for SGOV. At a 0.05 correlation, their price movements are largely independent. JBBB charges 0.49%/yr vs 0.09%/yr for SGOV.

Performance

JBBB vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson B-BBB CLO ETF (JBBB) and iShares 0-3 Month Treasury Bond ETF (SGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JBBB achieves a 1.88% return, which is significantly higher than SGOV's 1.56% return.

JBBB

• 1D: 0.53%
• 1M: 0.43%
• YTD: 1.88%
• 6M: 2.28%
• 1Y: 5.34%
• 3Y*: 10.39%
• 5Y*: —
• 10Y*: —

SGOV

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.56%
• 6M: 1.80%
• 1Y: 3.95%
• 3Y*: 4.70%
• 5Y*: 3.55%
• 10Y*: —

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

JBBB vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JBBB Janus Henderson B-BBB CLO ETF	1.88%	5.43%	12.50%	17.63%	-5.88%
SGOV iShares 0-3 Month Treasury Bond ETF	1.56%	4.24%	5.27%	5.12%	1.58%

Correlation

The correlation between JBBB and SGOV is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since Jan 12, 2022	0.05

Return for Risk

JBBB vs. SGOV — Risk / Return Rank

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

JBBB

JBBB Risk / Return Rank: 53
JBBB Sharpe Ratio Rank: 50
JBBB Sortino Ratio Rank: 59
JBBB Omega Ratio Rank: 61
JBBB Calmar Ratio Rank: 48
JBBB Martin Ratio Rank: 48

SGOV

SGOV Risk / Return Rank: 100
SGOV Sharpe Ratio Rank: 100
SGOV Sortino Ratio Rank: 100
SGOV Omega Ratio Rank: 100
SGOV Calmar Ratio Rank: 100
SGOV Martin Ratio Rank: 100

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. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson B-BBB CLO ETF (JBBB) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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	SGOV	Difference
Sharpe ratio: Return per unit of total volatility	1.57	20.28	-18.71
Sortino ratio: Return per unit of downside risk	2.51	275.69	-273.17
Omega ratio: Gain probability vs. loss probability	1.34	195.55	-194.22
Calmar ratio: Return relative to maximum drawdown	2.18	398.20	-396.02
Martin ratio: Return relative to average drawdown	7.38	4,461.99	-4,454.61
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. SGOV - Sharpe Ratio Comparison

The current JBBB Sharpe Ratio is 1.57, which is lower than the SGOV Sharpe Ratio of 20.28. The chart below compares the historical Sharpe Ratios of JBBB and SGOV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JBBB	SGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.57	20.28	-18.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	14.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	12.50	-11.20

Drawdowns

JBBB vs. SGOV - Drawdown Comparison

The maximum JBBB drawdown since its inception was -10.57%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for JBBB and SGOV.

Drawdown Indicators

	JBBB	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-10.57%	-0.03%	-10.54%
Max Drawdown (1Y) Largest decline over 1 year	-2.46%	-0.01%	-2.45%
Max Drawdown (3Y) Largest decline over 3 years	-3.82%	-0.01%	-3.81%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.03%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.58%	-0.00%	-1.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	0.00%	+0.72%

Volatility

JBBB vs. SGOV - Volatility Comparison

Janus Henderson B-BBB CLO ETF (JBBB) has a higher volatility of 0.88% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that JBBB's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JBBB	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	0.06%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	2.85%	0.13%	+2.72%
Volatility (1Y) Calculated over the trailing 1-year period	3.42%	0.20%	+3.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.26%	0.24%	+5.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.26%	0.24%	+5.02%

JBBB vs. SGOV - Expense Ratio Comparison

JBBB has a 0.49% expense ratio, which is higher than SGOV's 0.09% expense ratio.

Dividends

JBBB vs. SGOV - Dividend Comparison

JBBB's dividend yield for the trailing twelve months is around 7.12%, more than SGOV's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JBBB Janus Henderson B-BBB CLO ETF	7.12%	8.41%	9.24%	8.71%	5.71%	0.00%	0.00%
SGOV iShares 0-3 Month Treasury Bond ETF	3.85%	4.10%	5.10%	4.87%	1.45%	0.03%	0.05%

Frequently Asked Questions

Can I hold both JBBB and SGOV in my portfolio?

JBBB and SGOV have a correlation of -0.04, 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 SGOV?

JBBB has higher volatility (0.88%) compared to SGOV (0.06%). In terms of maximum drawdown, JBBB dropped -10.57% vs SGOV's -0.03%.

Which ETF is better, JBBB or SGOV?

On 3-year performance, JBBB leads with 10.39% vs 4.70% for SGOV. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JBBB or SGOV?

Over the 3-year period, JBBB has performed better with a 10.39% return vs 4.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JBBB or SGOV?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.49% for JBBB.

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

JBBB has the higher dividend yield at 7.12%, compared with 3.85% for SGOV.

What is the main difference between JBBB and SGOV?

JBBB is categorized as CLO, while SGOV is Ultrashort Bond. They also come from different issuers: Janus Henderson and iShares. Their fees differ too: 0.49% for JBBB and 0.09% for SGOV.

Which has better risk-adjusted returns?

SGOV currently has the higher Sharpe Ratio (20.28 vs 1.57), 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.