VONE vs. JAAA
VONE (Vanguard Russell 1000 ETF) and JAAA (Janus Henderson AAA CLO ETF) are both exchange-traded funds - VONE is a Large Cap Blend Equities fund tracking the Russell 1000 Index, while JAAA is a CLO fund actively managed by Janus Henderson. VONE is passively managed, while JAAA is actively managed. Over the past 5 years, VONE returned 12.68%/yr vs 4.80%/yr for JAAA. At a 0.13 correlation, their price movements are largely independent. VONE charges 0.08%/yr vs 0.20%/yr for JAAA.
Performance
VONE vs. JAAA - Performance Comparison
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Returns By Period
In the year-to-date period, VONE achieves a 8.46% return, which is significantly higher than JAAA's 1.95% return.
VONE
- 1D
- 0.18%
- 1M
- 0.42%
- YTD
- 8.46%
- 6M
- 8.48%
- 1Y
- 24.02%
- 3Y*
- 21.14%
- 5Y*
- 12.68%
- 10Y*
- 15.05%
JAAA
- 1D
- 0.02%
- 1M
- 0.35%
- YTD
- 1.95%
- 6M
- 2.57%
- 1Y
- 5.12%
- 3Y*
- 6.67%
- 5Y*
- 4.80%
- 10Y*
- —
VONE vs. JAAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VONE Vanguard Russell 1000 ETF | 8.46% | 17.21% | 24.51% | 26.41% | -19.14% | 26.49% | 10.84% |
JAAA Janus Henderson AAA CLO ETF | 1.95% | 5.16% | 7.43% | 8.59% | 0.49% | 1.39% | 0.79% |
Correlation
The correlation between VONE and JAAA is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2020 | 0.13 |
The correlation between VONE and JAAA shifts across timeframes, from 0.13 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VONE vs. JAAA — Risk / Return Rank
VONE
JAAA
VONE vs. JAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 ETF (VONE) 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.
| VONE | JAAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.17 | ||
| Sortino ratioReturn per unit of downside risk | -7.61 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 2.77 | -1.41 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 13.24 | -10.51 |
| Martin ratioReturn relative to average drawdown | 12.47 | 71.21 | -58.74 |
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
| VONE | JAAA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.98 | 6.15 | -4.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 2.88 | -2.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.84 | 2.78 | -1.94 |
Drawdowns
VONE vs. JAAA - Drawdown Comparison
The maximum VONE drawdown since its inception was -34.66%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for VONE and JAAA.
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Drawdown Indicators
| VONE | JAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.66% | -2.64% | -32.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.85% | -0.39% | -8.46% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -1.46% | -17.60% |
Max Drawdown (5Y)Largest decline over 5 years | -25.12% | -2.64% | -22.48% |
Max Drawdown (10Y)Largest decline over 10 years | -34.66% | — | — |
Current DrawdownCurrent decline from peak | -2.59% | 0.00% | -2.59% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -0.25% | -3.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 0.07% | +1.86% |
Volatility
VONE vs. JAAA - Volatility Comparison
Vanguard Russell 1000 ETF (VONE) has a higher volatility of 3.68% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.13%. This indicates that VONE'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
| VONE | JAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 0.13% | +3.55% |
Volatility (6M)Calculated over the trailing 6-month period | 9.37% | 0.64% | +8.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.22% | 0.84% | +11.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 1.68% | +15.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.27% | 1.64% | +16.63% |
VONE vs. JAAA - Expense Ratio Comparison
VONE has a 0.08% 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
VONE vs. JAAA - Dividend Comparison
VONE's dividend yield for the trailing twelve months is around 1.01%, 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% |
VONE Vanguard Russell 1000 ETF | 1.01% | 1.07% | 1.20% | 1.40% | 1.59% | 1.16% | 1.45% | 1.65% | 1.96% | 1.69% | 1.89% | 1.89% |
Frequently Asked Questions
VONE and JAAA have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VONE has higher volatility (3.68%) compared to JAAA (0.13%). In terms of maximum drawdown, VONE dropped -34.66% vs JAAA's -2.64%.
On 5-year performance, VONE leads with 12.68% vs 4.80% for JAAA. On fees, VONE is cheaper at 0.08% 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, VONE has performed better with a 12.68% return vs 4.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VONE is cheaper with a 0.08% expense ratio, compared with 0.20% for JAAA.
JAAA has the higher dividend yield at 4.99%, compared with 1.01% for VONE.
VONE is categorized as Large Cap Blend Equities, while JAAA is CLO. They also come from different issuers: Vanguard and Janus Henderson. Their fees differ too: 0.08% for VONE and 0.20% for JAAA.
JAAA currently has the higher Sharpe Ratio (6.15 vs 1.98), 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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