STRF vs. JAAA

Last updated Jul 14, 2026

STRF (Strategy 10.00% Series A Perpetual Strife Preferred Stock) is a stock, while JAAA (Janus Henderson AAA CLO ETF) is CLO fund actively managed by Janus Henderson. Over the past year, STRF returned -12.05% vs 4.97% for JAAA. At a 0.14 correlation, their price movements are largely independent.

Performance

STRF vs. JAAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strategy 10.00% Series A Perpetual Strife Preferred Stock (STRF) 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, STRF achieves a 1.79% return, which is significantly lower than JAAA's 2.33% return.

STRF

• 1D: -1.06%
• 1M: 5.32%
• 6M: -1.37%
• YTD: 1.79%
• 1Y: -12.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JAAA

• 1D: 0.04%
• 1M: 0.34%
• 6M: 2.21%
• YTD: 2.33%
• 1Y: 4.97%
• 3Y*: 6.46%
• 5Y*: 4.83%
• 10Y*: —

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

STRF vs. JAAA - Yearly Performance Comparison

	2026 (YTD)	2025
STRF Strategy 10.00% Series A Perpetual Strife Preferred Stock	1.79%	14.48%
JAAA Janus Henderson AAA CLO ETF	2.33%	4.59%

Correlation

The correlation between STRF and JAAA is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025	0.14

Return for Risk

STRF vs. JAAA — Risk / Return Rank

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

STRF

STRF Risk / Return Rank: 22
STRF Sharpe Ratio Rank: 23
STRF Sortino Ratio Rank: 22
STRF Omega Ratio Rank: 21
STRF Calmar Ratio Rank: 24
STRF Martin Ratio Rank: 19

JAAA

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

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.

STRF vs. JAAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strategy 10.00% Series A Perpetual Strife Preferred Stock (STRF) 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.

	STRF	JAAA	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	6.22	-6.69
Sortino ratio: Return per unit of downside risk	-0.55	10.31	-10.86
Omega ratio: Gain probability vs. loss probability	0.93	2.83	-1.90
Calmar ratio: Return relative to maximum drawdown	-0.57	12.84	-13.42
Martin ratio: Return relative to average drawdown	-1.11	69.71	-70.83

STRF vs. JAAA - Sharpe Ratio Comparison

The current STRF Sharpe Ratio is -0.47, which is lower than the JAAA Sharpe Ratio of 6.22. The chart below compares the historical Sharpe Ratios of STRF 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

STRF vs. JAAA - Drawdown Comparison

The maximum STRF drawdown since its inception was -24.48%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for STRF and JAAA.

Drawdown Indicators

	STRF	JAAA	Difference
Max Drawdown Largest peak-to-trough decline	-24.48%	-2.64%	-21.84%
Max Drawdown (1Y) Largest decline over 1 year	-21.19%	-0.39%	-20.80%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.64%	—
Current Drawdown Current decline from peak	-14.90%	0.00%	-14.90%
Average Drawdown Average peak-to-trough decline	-11.15%	-0.25%	-10.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.64%	0.07%	+11.57%

Volatility

STRF vs. JAAA - Volatility Comparison

Strategy 10.00% Series A Perpetual Strife Preferred Stock (STRF) has a higher volatility of 12.52% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.14%. This indicates that STRF'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

	STRF	JAAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.52%	0.14%	+12.38%
Volatility (6M) Calculated over the trailing 6-month period	18.18%	0.63%	+17.55%
Volatility (1Y) Calculated over the trailing 1-year period	25.55%	0.80%	+24.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.16%	1.67%	+24.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.16%	1.63%	+24.53%

Dividends

STRF vs. JAAA - Dividend Comparison

STRF's dividend yield for the trailing twelve months is around 13.15%, more than JAAA's 4.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
JAAA Janus Henderson AAA CLO ETF	4.95%	5.30%	6.35%	6.11%	2.74%	1.21%	0.26%
STRF Strategy 10.00% Series A Perpetual Strife Preferred Stock	13.15%	7.56%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both STRF and JAAA in my portfolio?

STRF and JAAA have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, STRF or JAAA?

STRF has higher volatility (12.52%) compared to JAAA (0.14%). In terms of maximum drawdown, STRF dropped -24.48% vs JAAA's -2.64%.

Which has better risk-adjusted returns?

JAAA currently has the higher Sharpe Ratio (6.22 vs -0.47), 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.