JBBB vs. VRP
JBBB (Janus Henderson B-BBB CLO ETF) and VRP (Invesco Variable Rate Preferred ETF) are both exchange-traded funds - JBBB is a CLO fund actively managed by Janus Henderson, while VRP is a Preferred Stock fund tracking the Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index. JBBB is actively managed, while VRP is passively managed. Over the past 3 years, JBBB returned 7.87%/yr vs 8.37%/yr for VRP. Their 0.16 correlation means their historical movements had little consistent relationship. JBBB charges 0.49%/yr vs 0.50%/yr for VRP.
Performance
JBBB vs. VRP - Performance Comparison
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Returns By Period
In the year-to-date period, JBBB achieves a 2.73% return, which is significantly higher than VRP's 1.98% return.
JBBB
- 1D
- 0.14%
- 1M
- 0.31%
- 6M
- 1.91%
- YTD
- 2.73%
- 1Y
- 5.02%
- 3Y*
- 7.87%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.90%
VRP
- 1D
- 0.17%
- 1M
- -0.74%
- 6M
- 1.09%
- YTD
- 1.98%
- 1Y
- 5.08%
- 3Y*
- 8.37%
- 5Y*
- 4.06%
- 10Y*
- 4.86%
- ALL TIME*
- 5.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.42M | $11.95M | $15.50M | |
| $11.39M | $12.80M | $16.85M |
JBBB vs. VRP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JBBB Janus Henderson B-BBB CLO ETF | 2.73% | 4.40% | 10.72% | 16.91% | -6.51% |
VRP Invesco Variable Rate Preferred ETF | 1.98% | 7.34% | 11.10% | 10.35% | -8.72% |
Correlation
The correlation between JBBB and VRP is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2022 | 0.16 |
The correlation between JBBB and VRP shifts across timeframes, from 0.16 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JBBB vs. VRP — Risk / Return Rank
JBBB
VRP
JBBB vs. VRP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson B-BBB CLO ETF (JBBB) and Invesco Variable Rate Preferred ETF (VRP). 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 | VRP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.34 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 1.71 | +0.20 |
| Martin ratioReturn relative to average drawdown | 6.39 | 8.89 | -2.50 |
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Drawdowns
JBBB vs. VRP - Drawdown Comparison
The maximum JBBB drawdown since its inception was -10.79%, smaller than the maximum VRP drawdown of -46.04%. Use the drawdown chart below to compare losses from any high point for JBBB and VRP.
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Drawdown Indicators
| JBBB | VRP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.79% | -46.04% | +35.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.46% | -2.89% | +0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -4.35% | -4.26% | -0.09% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.04% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.78% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -1.66% | -2.28% | +0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.55% | +0.18% |
Volatility
JBBB vs. VRP - Volatility Comparison
The current volatility for Janus Henderson B-BBB CLO ETF (JBBB) is 0.56%, while Invesco Variable Rate Preferred ETF (VRP) has a volatility of 0.69%. This indicates that JBBB experiences smaller price fluctuations and is considered to be less risky than VRP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JBBB | VRP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.56% | 0.69% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 2.38% | +0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | 2.94% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.16% | 6.55% | -1.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.16% | 14.53% | -9.37% |
JBBB vs. VRP - Expense Ratio Comparison
JBBB has a 0.49% expense ratio, which is lower than VRP's 0.50% expense ratio.
Dividends
JBBB vs. VRP - Dividend Comparison
JBBB's dividend yield for the trailing twelve months is around 7.06%, more than VRP's 6.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JBBB Janus Henderson B-BBB CLO ETF | 6.54% | 7.41% | 7.65% | 8.10% | 5.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VRP Invesco Variable Rate Preferred ETF | 6.19% | 6.53% | 5.78% | 6.61% | 5.38% | 4.25% | 4.17% | 4.71% | 5.28% | 4.69% | 5.10% | 5.02% |
Frequently Asked Questions
JBBB and VRP 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.
VRP has higher volatility (0.69%) compared to JBBB (0.56%). In terms of maximum drawdown, JBBB dropped -10.79% vs VRP's -46.04%.
On 3-year performance, VRP leads with 8.37% vs 7.87% for JBBB. On fees, JBBB is cheaper at 0.49% per year. On volatility, JBBB has been the lower-risk option at 0.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VRP has performed better with a 8.37% return vs 7.87%. 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 0.50% for VRP.
JBBB has the higher dividend yield at 6.54%, compared with 6.19% for VRP.
JBBB is categorized as CLO, while VRP is Preferred Stock. They also come from different issuers: Janus Henderson and Invesco. Their fees differ too: 0.49% for JBBB and 0.50% for VRP.
VRP currently has the higher Sharpe Ratio (1.68 vs 1.36), 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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