VRP vs. JBBB
VRP (Invesco Variable Rate Preferred ETF) and JBBB (Janus Henderson B-BBB CLO ETF) are both exchange-traded funds - VRP is a Preferred Stock/Convertible Bonds fund tracking the Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index, while JBBB is a CLO fund actively managed by Janus Henderson. VRP is passively managed, while JBBB is actively managed. Over the past 3 years, VRP returned 9.66%/yr vs 10.33%/yr for JBBB. At a 0.16 correlation, their price movements are largely independent. VRP charges 0.50%/yr vs 0.49%/yr for JBBB.
Performance
VRP vs. JBBB - Performance Comparison
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Returns By Period
In the year-to-date period, VRP achieves a 2.02% return, which is significantly higher than JBBB's 1.34% return.
VRP
- 1D
- -0.16%
- 1M
- 0.21%
- YTD
- 2.02%
- 6M
- 2.53%
- 1Y
- 6.78%
- 3Y*
- 9.66%
- 5Y*
- 4.36%
- 10Y*
- 5.21%
JBBB
- 1D
- -0.51%
- 1M
- 0.04%
- YTD
- 1.34%
- 6M
- 1.72%
- 1Y
- 4.90%
- 3Y*
- 10.33%
- 5Y*
- —
- 10Y*
- —
VRP vs. JBBB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VRP Invesco Variable Rate Preferred ETF | 2.02% | 7.34% | 11.10% | 10.35% | -8.72% |
JBBB Janus Henderson B-BBB CLO ETF | 1.34% | 5.43% | 12.50% | 17.63% | -5.99% |
Correlation
The correlation between VRP and JBBB is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2022 | 0.16 |
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Return for Risk
VRP vs. JBBB — Risk / Return Rank
VRP
JBBB
VRP vs. JBBB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Variable Rate Preferred ETF (VRP) and Janus Henderson B-BBB CLO ETF (JBBB). 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.
| VRP | JBBB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.31 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 1.99 | +0.36 |
| Martin ratioReturn relative to average drawdown | 12.69 | 6.77 | +5.92 |
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
| VRP | JBBB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.36 | 1.45 | +0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 1.28 | -0.90 |
Drawdowns
VRP vs. JBBB - Drawdown Comparison
The maximum VRP drawdown since its inception was -46.04%, which is greater than JBBB's maximum drawdown of -10.57%. Use the drawdown chart below to compare losses from any high point for VRP and JBBB.
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Drawdown Indicators
| VRP | JBBB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.04% | -10.57% | -35.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -2.46% | -0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -4.26% | -3.82% | -0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -13.76% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.04% | — | — |
Current DrawdownCurrent decline from peak | -0.21% | -0.51% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -1.58% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 0.72% | -0.18% |
Volatility
VRP vs. JBBB - Volatility Comparison
The current volatility for Invesco Variable Rate Preferred ETF (VRP) is 0.63%, while Janus Henderson B-BBB CLO ETF (JBBB) has a volatility of 0.70%. This indicates that VRP experiences smaller price fluctuations and is considered to be less risky than JBBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VRP | JBBB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.70% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.33% | 2.80% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.89% | 3.38% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.55% | 5.26% | +1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.53% | 5.26% | +9.27% |
VRP vs. JBBB - Expense Ratio Comparison
VRP has a 0.50% expense ratio, which is higher than JBBB's 0.49% expense ratio.
Dividends
VRP vs. JBBB - Dividend Comparison
VRP's dividend yield for the trailing twelve months is around 6.30%, less than JBBB's 7.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JBBB Janus Henderson B-BBB CLO ETF | 7.16% | 8.41% | 9.24% | 8.71% | 5.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VRP Invesco Variable Rate Preferred ETF | 6.30% | 6.53% | 5.78% | 6.61% | 5.38% | 4.25% | 4.17% | 4.71% | 5.28% | 4.69% | 5.10% | 5.02% |
Frequently Asked Questions
VRP and JBBB have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JBBB has higher volatility (0.70%) compared to VRP (0.63%). In terms of maximum drawdown, VRP dropped -46.04% vs JBBB's -10.57%.
On 3-year performance, JBBB leads with 10.33% vs 9.66% for VRP. On fees, JBBB is cheaper at 0.49% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JBBB has performed better with a 10.33% return vs 9.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JBBB is cheaper with a 0.49% expense ratio, compared with 0.50% for VRP.
JBBB has the higher dividend yield at 7.16%, compared with 6.30% for VRP.
VRP is categorized as Preferred Stock/Convertible Bonds, while JBBB is CLO. They also come from different issuers: Invesco and Janus Henderson. Their fees differ too: 0.50% for VRP and 0.49% for JBBB.
VRP currently has the higher Sharpe Ratio (2.36 vs 1.45), 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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