VLUE vs. JAAA
VLUE (iShares Edge MSCI USA Value Factor ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - VLUE is a Large Cap Value Equities fund tracking the MSCI USA Value Weighted Index, while JAAA is a CLO fund actively managed by Janus Henderson. VLUE is passively managed, while JAAA is actively managed. Over the past 5 years, VLUE returned 15.73%/yr vs 4.80%/yr for JAAA. At a 0.11 correlation, their price movements are largely independent. VLUE charges 0.15%/yr vs 0.20%/yr for JAAA.
Performance
VLUE vs. JAAA - Performance Comparison
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Returns By Period
In the year-to-date period, VLUE achieves a 43.65% return, which is significantly higher than JAAA's 1.95% return.
VLUE
- 1D
- 1.90%
- 1M
- 7.11%
- YTD
- 43.65%
- 6M
- 46.05%
- 1Y
- 83.03%
- 3Y*
- 31.74%
- 5Y*
- 15.73%
- 10Y*
- 15.02%
JAAA
- 1D
- 0.02%
- 1M
- 0.35%
- YTD
- 1.95%
- 6M
- 2.57%
- 1Y
- 5.12%
- 3Y*
- 6.67%
- 5Y*
- 4.80%
- 10Y*
- —
VLUE vs. JAAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VLUE iShares Edge MSCI USA Value Factor ETF | 43.65% | 32.67% | 7.25% | 14.26% | -14.17% | 28.93% | 13.93% |
JAAA Janus Henderson AAA CLO ETF | 1.95% | 5.16% | 7.43% | 8.59% | 0.49% | 1.39% | 0.79% |
Correlation
The correlation between VLUE and JAAA is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2020 | 0.11 |
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Return for Risk
VLUE vs. JAAA — Risk / Return Rank
VLUE
JAAA
VLUE vs. JAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Value Factor ETF (VLUE) 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.
| VLUE | JAAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -4.46 | ||
| Omega ratioGain probability vs. loss probability | 1.79 | 2.77 | -0.97 |
| Calmar ratioReturn relative to maximum drawdown | 9.24 | 13.24 | -4.00 |
| Martin ratioReturn relative to average drawdown | 40.39 | 71.21 | -30.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VLUE | JAAA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.65 | 6.15 | -1.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 2.88 | -2.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.76 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 2.78 | -2.04 |
Drawdowns
VLUE vs. JAAA - Drawdown Comparison
The maximum VLUE drawdown since its inception was -39.47%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for VLUE and JAAA.
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Drawdown Indicators
| VLUE | JAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.47% | -2.64% | -36.83% |
Max Drawdown (1Y)Largest decline over 1 year | -9.04% | -0.39% | -8.65% |
Max Drawdown (3Y)Largest decline over 3 years | -17.89% | -1.46% | -16.43% |
Max Drawdown (5Y)Largest decline over 5 years | -27.12% | -2.64% | -24.48% |
Max Drawdown (10Y)Largest decline over 10 years | -39.47% | — | — |
Current DrawdownCurrent decline from peak | -3.99% | 0.00% | -3.99% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -0.25% | -5.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 0.07% | +1.99% |
Volatility
VLUE vs. JAAA - Volatility Comparison
iShares Edge MSCI USA Value Factor ETF (VLUE) has a higher volatility of 9.02% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.13%. This indicates that VLUE'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.
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Volatility by Period
| VLUE | JAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.02% | 0.13% | +8.89% |
Volatility (6M)Calculated over the trailing 6-month period | 14.83% | 0.64% | +14.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.97% | 0.84% | +17.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.91% | 1.68% | +16.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.88% | 1.64% | +18.24% |
VLUE vs. JAAA - Expense Ratio Comparison
VLUE has a 0.15% expense ratio, which is lower than JAAA's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VLUE vs. JAAA - Dividend Comparison
VLUE's dividend yield for the trailing twelve months is around 1.45%, less than JAAA's 4.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JAAA Janus Henderson AAA CLO ETF | 4.99% | 5.30% | 6.35% | 6.11% | 2.74% | 1.21% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VLUE iShares Edge MSCI USA Value Factor ETF | 1.45% | 2.11% | 2.73% | 2.66% | 3.18% | 2.22% | 2.42% | 2.61% | 2.70% | 2.14% | 2.07% | 2.39% |
Frequently Asked Questions
VLUE and JAAA have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VLUE has higher volatility (9.02%) compared to JAAA (0.13%). In terms of maximum drawdown, VLUE dropped -39.47% vs JAAA's -2.64%.
On 5-year performance, VLUE leads with 15.73% vs 4.80% for JAAA. On fees, VLUE is cheaper at 0.15% 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.
Over the 5-year period, VLUE has performed better with a 15.73% return vs 4.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VLUE is cheaper with a 0.15% expense ratio, compared with 0.20% for JAAA.
JAAA has the higher dividend yield at 4.99%, compared with 1.45% for VLUE.
VLUE is categorized as Large Cap Value Equities, while JAAA is CLO. They also come from different issuers: iShares and Janus Henderson. Their fees differ too: 0.15% for VLUE and 0.20% for JAAA.
JAAA currently has the higher Sharpe Ratio (6.15 vs 4.65), 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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