Please ensure Javascript is enabled for purposes of website accessibility AAA CLO ETF - Janus Henderson Investors
For Financial Professionals in the US

JAAA AAA CLO ETF

Provides exposure to the high-quality, floating rate CLO market in a liquid, transparent manner

NAV
$50.63
As of 04/19/2024

1-Day Change
$0.03 (0.06%)
 As of 04/19/2024

YTD Return
2.39%
As of 04/19/2024

Morningstar Rating

As of 03/31/2024

Overview

ABOUT THIS ETF

An ETF investing in high-quality CLOs which seeks to deliver investors risk-managed access to an asset class that may provide consistent risk-adjusted returns and low correlation to traditional fixed income asset classes while exhibiting low volatility with low downgrade risk.

JAAA in the news

Bloomberg recently featured Portfolio Manager John Kerschner's comments on how JAAA is dominating the CLO ETF market in terms of inflows and where he sees further opportunity in the space.

Learn more

WHY INVEST IN THIS ETF

High-Quality Asset Class
A robust asset class during uncertain times, AAA-rated CLOs have endured through the Global Financial Crisis and the COVID-19 pandemic, eliciting growth in the CLO market.

Risk Management
AAA-rated CLOs may help diversify a traditional fixed income portfolio, while exhibiting low volatility and low downgrade risk.

Efficient ETF Structure
Provides exposure to AAA-rated CLO markets historically available only to institutional investors with the lower cost, transparency, and liquidity characteristics of the ETF structure.

PORTFOLIO MANAGEMENT

John Kerschner, CFA

John Kerschner, CFA

Head of US Securitised Products | Portfolio Manager

Industry since 1990. Joined Firm in 2010.

Nick Childs, CFA

Nick Childs, CFA

Portfolio Manager

Industry since 2003. Joined Firm in 2017.

Jessica Shill

Jessica Shill

Portfolio Manager | Securitised Products Analyst

Industry since 2017.

Performance

RETURNS (%) (As of 03/31/2024)
Nav Market-Price J.P. Morgan CLO AAA Index
 
3M YTD 1YR 3YR Since Inception
(10/16/2020)
Nav 1.92 1.92 9.08 3.89 3.77
Market-Price 1.92 1.92 9.12 3.89 3.81
J.P. Morgan CLO AAA Index 1.84 1.84 8.77 4.11 4.00
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Eastern time (when NAV is normally determined for most ETFs), and do not represent the returns you would receive if you traded shares at other times. Ordinary brokerage commissions apply and will reduce returns.
RETURNS (%) (As of 03/31/2024)
Nav Market-Price J.P. Morgan CLO AAA Index
 
3M YTD 1YR 3YR Since Inception
(10/16/2020)
Nav 1.92 1.92 9.08 3.89 3.77
Market-Price 1.92 1.92 9.12 3.89 3.81
J.P. Morgan CLO AAA Index 1.84 1.84 8.77 4.11 4.00
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Eastern time (when NAV is normally determined for most ETFs), and do not represent the returns you would receive if you traded shares at other times. Ordinary brokerage commissions apply and will reduce returns.
Calendar Year Returns (%)
Nav J.P. Morgan CLO AAA Index
2023 2022 2021
Nav 8.58 0.49 1.35
J.P. Morgan CLO AAA Index 8.68 1.05 1.40

MORNINGSTAR PERCENTILE

(As Of 03/31/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 4 3 - - 4
Ultrashort Bond | Rank/Count 7/244 4/214 -/- -/- 5/213
(As Of 03/31/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 4 3 - - 4
Ultrashort Bond | Rank / Count 7/244 4/214 -/- -/- 5/213

GROWTH OF A HYPOTHETICAL INVESTMENT

@Nav J.P. Morgan CLO AAA Index Ultrashort Bond
Source: Morningstar, Inc.
This graph compares the performance of a hypothetical $1 investment in the fund, the fund’s Morningstar category average and its benchmark(s).

RETURNS-BASED STATISTICS (As of 03/31/2024 )

RISK / REWARD
VS. JPMorgan CLO AAA Index		 3YR 5YR
Information Ratio -0.82 -
Alpha -0.28 -
Tracking Error 0.26 -
Beta 1.05 -
R-squared (%) 98.37 -
UP/DOWN MARKET CAPTURE (%)
VS. JPMorgan CLO AAA Index		 3YR 5YR
Up Capture Ratio 98.08 -
Down Capture Ratio 112.15 -
STANDARD DEVIATION 3YR 5YR
AAA CLO ETF 1.95 -
JPMorgan CLO AAA Index 1.85 -
SHARPE RATIO 3YR 5YR
AAA CLO ETF 0.58 -
JPMorgan CLO AAA Index 0.72 -

PREMIUM/DISCOUNT HISTORY
DISTRIBUTION OVERVIEW
Ex-DateRecord DatePayable DateOrdinary IncomeShort-Term Capital GainsLong-Term Capital GainsTotal Distribution
04/01/202404/02/202404/05/2024$0.269852$0.000000$0.000000$0.269852
03/01/202403/04/202403/07/2024$0.261966$0.000000$0.000000$0.261966
02/01/202402/02/202402/07/2025$0.270294$0.000000$0.000000$0.270294
12/22/202312/26/202312/29/2023$0.276579$0.000000$0.000000$0.276579
12/01/202312/04/202312/07/2023$0.296171$0.000000$0.000000$0.296171
11/01/202312/04/202311/07/2023$0.263299$0.000000$0.000000$0.263299
10/02/202310/03/202310/06/2023$0.276399$0.000000$0.000000$0.276399
09/01/202309/05/202309/08/2023$0.274335$0.000000$0.000000$0.274335
View Full History

Portfolio

Index represents the J.P. Morgan CLO AAA Index

Top Holdings (As of 04/19/2024)
% of Fund
Wind River 2024-1 CLO Ltd|6.89|04/20/2037, 6.89%, 04/20/37 1.65
OHA Credit Funding 3 LTD|6.71942|07/02/2035, 6.72%, 07/02/35 1.37
Octagon Investment Partners 49 Ltd|6.81092|04/15/2037, 6.81%, 04/15/37 1.36
Sycamore Tree CLO 2023-3 Ltd|6.97|04/20/2037, 6.97%, 04/20/37 1.29
RAD CLO 23 Ltd|6.88462|04/20/2037, 6.88%, 04/20/37 1.24
Silver Point Clo 4 Ltd|6.88711|04/15/2037, 6.89%, 04/15/37 1.25
Sandstone Peak III Ltd|6.95|04/25/2037, 6.95%, 04/25/37 1.23
AGL CLO 17 Ltd|6.64781|01/21/2035, 6.65%, 01/21/35 1.17
Madison Park Funding XXI Ltd|6.67017|10/15/2032, 6.67%, 10/15/32 1.16
Carlyle US CLO 2022-3 Ltd|6.87305|04/20/2037, 6.87%, 04/20/37 1.12
View full holdings

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Portfolio Characteristics (As of 04/19/2024)
 
Number of Holdings
Debt Issues		 320
Portfolio Turnover Rate
(1-year trailing)		 39.24%
Weighted Average Maturity
(years)		 3.90
Effective Duration
(years)		 0.23
Yield to Worst
 7.01%
Sector Allocation % OF FUND % OF FUND (As of 04/19/2024)
Fixed Income country and/or regional weights primarily based on Bloomberg classifications.
Regional Allocation % OF FUND % OF FUND (As of 04/19/2024)
Maturity Breakdown of Fixed Income Holdings % OF FUND % OF FUND (As of 04/19/2024)
Credit Quality of Fixed Income Holdings % OF FUND % OF FUND (As of 04/19/2024)
Credit quality ratings reflect the middle rating received from Moody’s, Standard & Poor’s and Fitch, where all three agencies have provided a rating. If only two agencies rate a security, the lowest rating is used. If only one agency rates a security, that rating is used. Ratings are measured on a scale that ranges from Aaa (highest) to D (lowest).

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