SIHY vs. JAAA

Last updated Jun 14, 2026

SIHY (Harbor Scientific Alpha High-Yield ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - SIHY is a High Yield Bonds fund tracking the ICE BofA US High Yield, while JAAA is a CLO fund actively managed by Janus Henderson. SIHY is passively managed, while JAAA is actively managed. Over the past 3 years, SIHY returned 9.46%/yr vs 6.67%/yr for JAAA. At a 0.12 correlation, their price movements are largely independent. SIHY charges 0.48%/yr vs 0.20%/yr for JAAA.

Performance

SIHY vs. JAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Scientific Alpha High-Yield ETF (SIHY) 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, SIHY achieves a 2.17% return, which is significantly higher than JAAA's 1.99% return.

SIHY

• 1D: -0.09%
• 1M: 1.34%
• YTD: 2.17%
• 6M: 2.61%
• 1Y: 8.13%
• 3Y*: 9.46%
• 5Y*: —
• 10Y*: —

JAAA

• 1D: 0.02%
• 1M: 0.33%
• YTD: 1.99%
• 6M: 2.49%
• 1Y: 5.01%
• 3Y*: 6.67%
• 5Y*: 4.76%
• 10Y*: —

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

SIHY vs. JAAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SIHY Harbor Scientific Alpha High-Yield ETF	2.17%	8.13%	8.67%	13.31%	-7.73%	0.18%
JAAA Janus Henderson AAA CLO ETF	1.99%	5.16%	7.43%	8.59%	0.49%	0.23%

Correlation

The correlation between SIHY and JAAA is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (All Time) Calculated using the full available price history since Sep 16, 2021	0.12

The correlation between SIHY and JAAA shifts across timeframes, from 0.12 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SIHY vs. JAAA — Risk / Return Rank

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

SIHY

SIHY Risk / Return Rank: 66
SIHY Sharpe Ratio Rank: 65
SIHY Sortino Ratio Rank: 75
SIHY Omega Ratio Rank: 71
SIHY Calmar Ratio Rank: 57
SIHY Martin Ratio Rank: 64

JAAA

JAAA Risk / Return Rank: 98
JAAA Sharpe Ratio Rank: 99
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.

SIHY vs. JAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Scientific Alpha High-Yield ETF (SIHY) 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.

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.

	SIHY	JAAA	Difference
Sharpe ratio: Return per unit of total volatility	1.90	6.03	-4.13
Sortino ratio: Return per unit of downside risk	2.96	10.06	-7.10
Omega ratio: Gain probability vs. loss probability	1.37	2.72	-1.36
Calmar ratio: Return relative to maximum drawdown	2.51	12.91	-10.40
Martin ratio: Return relative to average drawdown	10.38	69.57	-59.20

SIHY vs. JAAA - Sharpe Ratio Comparison

The current SIHY Sharpe Ratio is 1.90, which is lower than the JAAA Sharpe Ratio of 6.03. The chart below compares the historical Sharpe Ratios of SIHY 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.

Drawdowns

SIHY vs. JAAA - Drawdown Comparison

The maximum SIHY drawdown since its inception was -13.30%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for SIHY and JAAA.

Drawdown Indicators

	SIHY	JAAA	Difference
Max Drawdown Largest peak-to-trough decline	-13.30%	-2.64%	-10.66%
Max Drawdown (1Y) Largest decline over 1 year	-3.17%	-0.39%	-2.78%
Max Drawdown (3Y) Largest decline over 3 years	-5.36%	-1.46%	-3.90%
Max Drawdown (5Y) Largest decline over 5 years	—	-2.64%	—
Current Drawdown Current decline from peak	-0.09%	0.00%	-0.09%
Average Drawdown Average peak-to-trough decline	-2.76%	-0.25%	-2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	0.07%	+0.69%

Volatility

SIHY vs. JAAA - Volatility Comparison

Harbor Scientific Alpha High-Yield ETF (SIHY) has a higher volatility of 1.19% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.12%. This indicates that SIHY'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

	SIHY	JAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	0.12%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	3.12%	0.63%	+2.49%
Volatility (1Y) Calculated over the trailing 1-year period	4.18%	0.83%	+3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.56%	1.67%	+5.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.56%	1.64%	+5.92%

SIHY vs. JAAA - Expense Ratio Comparison

SIHY has a 0.48% expense ratio, which is higher than JAAA's 0.20% expense ratio.

Dividends

SIHY vs. JAAA - Dividend Comparison

SIHY's dividend yield for the trailing twelve months is around 7.23%, more than JAAA's 4.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JAAA Janus Henderson AAA CLO ETF	4.99%	5.30%	6.35%	6.11%	2.74%	1.21%	0.26%
SIHY Harbor Scientific Alpha High-Yield ETF	7.23%	7.61%	7.54%	7.06%	6.31%	1.30%	0.00%

Frequently Asked Questions

Can I hold both SIHY and JAAA in my portfolio?

SIHY and JAAA have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIHY or JAAA?

SIHY has higher volatility (1.19%) compared to JAAA (0.12%). In terms of maximum drawdown, SIHY dropped -13.30% vs JAAA's -2.64%.

Which ETF is better, SIHY or JAAA?

On 3-year performance, SIHY leads with 9.46% vs 6.67% for JAAA. On fees, JAAA is cheaper at 0.20% per year. On volatility, JAAA has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIHY or JAAA?

Over the 3-year period, SIHY has performed better with a 9.46% return vs 6.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIHY or JAAA?

JAAA is cheaper with a 0.20% expense ratio, compared with 0.48% for SIHY.

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

SIHY has the higher dividend yield at 7.23%, compared with 4.99% for JAAA.

What is the main difference between SIHY and JAAA?

SIHY is categorized as High Yield Bonds, while JAAA is CLO. They also come from different issuers: Harbor and Janus Henderson. Their fees differ too: 0.48% for SIHY and 0.20% for JAAA.

Which has better risk-adjusted returns?

JAAA currently has the higher Sharpe Ratio (6.03 vs 1.90), 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.