LDUR vs. JAAA

Last updated Jun 4, 2026

LDUR (PIMCO Enhanced Low Duration Active ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - LDUR is a Short-Term Bond fund actively managed by PIMCO, while JAAA is a CLO fund actively managed by Janus Henderson. Both are actively managed. Over the past 5 years, LDUR returned 2.23%/yr vs 4.79%/yr for JAAA. At a correlation of -0.01, they often move in opposite directions. LDUR charges 0.54%/yr vs 0.21%/yr for JAAA.

Performance

LDUR vs. JAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Enhanced Low Duration Active ETF (LDUR) and Janus Henderson AAA CLO ETF (JAAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LDUR achieves a 0.91% return, which is significantly lower than JAAA's 1.87% return.

LDUR

• 1D: -0.02%
• 1M: 0.15%
• YTD: 0.91%
• 6M: 1.29%
• 1Y: 4.37%
• 3Y*: 5.11%
• 5Y*: 2.23%
• 10Y*: 2.43%

JAAA

• 1D: -0.02%
• 1M: 0.39%
• YTD: 1.87%
• 6M: 2.45%
• 1Y: 5.06%
• 3Y*: 6.71%
• 5Y*: 4.79%
• 10Y*: —

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

LDUR vs. JAAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
LDUR PIMCO Enhanced Low Duration Active ETF	0.91%	5.76%	5.14%	4.78%	-4.23%	-0.55%	0.41%
JAAA Janus Henderson AAA CLO ETF	1.87%	5.16%	7.43%	8.59%	0.49%	1.39%	0.79%

Correlation

The correlation between LDUR and JAAA is -0.00, 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	-0.00
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (5Y) Calculated over the trailing 5-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Oct 20, 2020	-0.01

Return for Risk

LDUR vs. JAAA — Risk / Return Rank

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

LDUR

LDUR Risk / Return Rank: 88
LDUR Sharpe Ratio Rank: 85
LDUR Sortino Ratio Rank: 91
LDUR Omega Ratio Rank: 88
LDUR Calmar Ratio Rank: 85
LDUR Martin Ratio Rank: 92

JAAA

JAAA Risk / Return Rank: 98
JAAA Sharpe Ratio Rank: 98
JAAA Sortino Ratio Rank: 99
JAAA Omega Ratio Rank: 99
JAAA Calmar Ratio Rank: 98
JAAA Martin Ratio Rank: 98

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.

LDUR vs. JAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Enhanced Low Duration Active ETF (LDUR) and Janus Henderson AAA CLO ETF (JAAA). 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.

	LDUR	JAAA	Difference
Sharpe ratio Return per unit of total volatility	2.83	5.98	-3.16
Sortino ratio Return per unit of downside risk	4.32	10.04	-5.73
Omega ratio Gain probability vs. loss probability	1.56	2.69	-1.13
Calmar ratio Return relative to maximum drawdown	4.70	13.07	-8.37
Martin ratio Return relative to average drawdown	22.64	70.18	-47.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LDUR vs. JAAA - Sharpe Ratio Comparison

The current LDUR Sharpe Ratio is 2.83, which is lower than the JAAA Sharpe Ratio of 5.98. The chart below compares the historical Sharpe Ratios of LDUR and JAAA, 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

	LDUR	JAAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	5.98	-3.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.10	2.87	-1.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	2.77	-1.91

Drawdowns

LDUR vs. JAAA - Drawdown Comparison

The maximum LDUR drawdown since its inception was -8.68%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for LDUR and JAAA.

Drawdown Indicators

	LDUR	JAAA	Difference
Max Drawdown Largest peak-to-trough decline	-8.68%	-2.64%	-6.04%
Max Drawdown (1Y) Largest decline over 1 year	-0.93%	-0.39%	-0.54%
Max Drawdown (3Y) Largest decline over 3 years	-1.17%	-1.46%	+0.29%
Max Drawdown (5Y) Largest decline over 5 years	-6.75%	-2.64%	-4.11%
Max Drawdown (10Y) Largest decline over 10 years	-8.68%	—	—
Current Drawdown Current decline from peak	-0.04%	-0.02%	-0.02%
Average Drawdown Average peak-to-trough decline	-0.85%	-0.25%	-0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	0.07%	+0.12%

Volatility

LDUR vs. JAAA - Volatility Comparison

PIMCO Enhanced Low Duration Active ETF (LDUR) has a higher volatility of 0.44% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.13%. This indicates that LDUR's price experiences larger fluctuations and is considered to be riskier than JAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LDUR	JAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.44%	0.13%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	1.08%	0.64%	+0.44%
Volatility (1Y) Calculated over the trailing 1-year period	1.55%	0.85%	+0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.03%	1.68%	+0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.77%	1.64%	+1.13%

LDUR vs. JAAA - Expense Ratio Comparison

LDUR has a 0.54% expense ratio, which is higher than JAAA's 0.21% expense ratio.

Dividends

LDUR vs. JAAA - Dividend Comparison

LDUR's dividend yield for the trailing twelve months is around 4.35%, less than JAAA's 5.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JAAA Janus Henderson AAA CLO ETF	5.00%	5.30%	6.35%	6.11%	2.74%	1.21%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%
LDUR PIMCO Enhanced Low Duration Active ETF	4.35%	4.60%	4.77%	4.11%	2.22%	0.90%	2.15%	3.14%	2.66%	2.08%	1.85%	2.92%

Frequently Asked Questions

Can I hold both LDUR and JAAA in my portfolio?

LDUR and JAAA have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LDUR or JAAA?

LDUR has higher volatility (0.44%) compared to JAAA (0.13%). In terms of maximum drawdown, LDUR dropped -8.68% vs JAAA's -2.64%.

Which ETF is better, LDUR or JAAA?

On 5-year performance, JAAA leads with 4.79% vs 2.23% for LDUR. On fees, JAAA is cheaper at 0.21% per year. On volatility, JAAA has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LDUR or JAAA?

Over the 5-year period, JAAA has performed better with a 4.79% return vs 2.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LDUR or JAAA?

JAAA is cheaper with a 0.21% expense ratio, compared with 0.54% for LDUR.

Which ETF pays a higher dividend yield, LDUR or JAAA?

JAAA has the higher dividend yield at 5.00%, compared with 4.35% for LDUR.

What is the main difference between LDUR and JAAA?

LDUR is categorized as Short-Term Bond, while JAAA is CLO. They also come from different issuers: PIMCO and Janus Henderson. Their fees differ too: 0.54% for LDUR and 0.21% for JAAA.

Which has better risk-adjusted returns?

JAAA currently has the higher Sharpe Ratio (5.98 vs 2.83), 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.