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

JAAA AAA CLO ETF

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

NAV
$50.73
As of 10/29/2025

1-Day Change
$0.01 (0.02%)
 As of 10/29/2025

YTD Return
4.24%
As of 10/29/2025

Morningstar Rating

As of 09/30/2025

Morningstar Medalist Rating ™

Bronze Morningstar Analyst Rating
As of 04/08/2025

Overview

Quarterly Update

The investment team recap this quarter.

(Note: Recorded in October 2025).

Building the biggest CLO ETF in the world

In this article reprint, Creditflux explores how Janus Henderson’s CLO ETF came to life during COVID, weathered market chaos, and became a $23.3bn giant.

Read more

JHI

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.

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.

RATINGS AND AWARDS

ETF.com Award Winner of the year. 2025 Best Active ETF of the Year JAAA

*Designations

NAIC 1.B (2025 preliminary)

Portfolio Management

John Kerschner, CFA: Global Head of Securitised Products | Portfolio Manager
John Kerschner, CFA

Global Head of Securitised Products | Portfolio Manager

Industry since 1990. Joined Firm in 2010.

Nick Childs, CFA: Head of Structured and Quantitative Fixed Income | Portfolio Manager
Nick Childs, CFA

Head of Structured and Quantitative Fixed Income | Portfolio Manager

Industry since 2003. Joined Firm in 2017.

Jessica Shill: Portfolio Manager | Securitised Products Analyst
Jessica Shill

Portfolio Manager | Securitised Products Analyst

Industry since 2017.

Performance

RETURNS (%) (As of 09/30/2025)
Nav Market-Price J.P. Morgan CLO AAA Index
 
3M YTD 1YR 3YR Since Inception
(10/17/2020)
Nav 1.39 3.94 5.78 7.49 4.52
Market-Price 1.33 3.74 5.61 7.23 4.51
J.P. Morgan CLO AAA Index 1.43 4.17 5.83 7.52 4.67
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 09/30/2025)
Nav Market-Price J.P. Morgan CLO AAA Index
 
3M YTD 1YR 3YR Since Inception
(10/17/2020)
Nav 1.39 3.94 5.78 7.49 4.52
Market-Price 1.33 3.74 5.61 7.23 4.51
J.P. Morgan CLO AAA Index 1.43 4.17 5.83 7.52 4.67
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
2024 2023 2022 2021
Nav 7.41 8.58 0.49 1.35
J.P. Morgan CLO AAA Index 7.06 8.68 1.05 1.40
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.

Premium/Discount History

Morningstar Percentile

 (As of 09/30/2025)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 8 4 - - 4
US Fund Ultrashort Bond | Rank/Count 17/254 6/218 -/- -/- 5/197
 (As of 09/30/2025)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 8 4 - - 4
US Fund Ultrashort Bond | Rank / Count 17/254 6/218 -/- -/- 5/197

Returns-Based Statistics (As of 09/30/2025)

RISK / REWARD
VS. JPMorgan CLOIE AAA Index		 3YR 5YR
Information Ratio -0.08 -
Alpha -0.15 -
Tracking Error 0.29 -
Beta 1.05 -
R-squared (%) 93.08 -
UP/DOWN MARKET CAPTURE (%)
JPMorgan CLOIE AAA Index		 3YR 5YR
Up Capture Ratio 99.88 -
Down Capture Ratio 172.98 -
STANDARD DEVIATION 3YR 5YR
AAA CLO ETF 1.08 -
JPMorgan CLOIE AAA Index 0.97 -
SHARPE RATIO 3YR 5YR
AAA CLO ETF 2.25 -
JPMorgan CLOIE AAA Index 2.52 -
DISTRIBUTION OVERVIEW
Ex-DateRecord DatePayable DateOrdinary IncomeShort-Term Capital GainsLong-Term Capital GainsTotal Distribution
10/01/202510/01/202510/07/2025$0.2266640$0.0000000$0.0000000$0.2266640
09/02/202509/02/202509/08/2025$0.2225850$0.0000000$0.0000000$0.2225850
08/01/202508/01/202508/07/2025$0.2147380$0.0000000$0.0000000$0.2147380
07/01/202507/01/202507/08/2025$0.2234630$0.0000000$0.0000000$0.2234630
06/02/202506/02/202506/06/2025$0.2198550$0.0000000$0.0000000$0.2198550
05/01/202505/01/202505/07/2025$0.2455550$0.0000000$0.0000000$0.2455550
04/01/202504/01/202504/07/2025$0.2382910$0.0000000$0.0000000$0.2382910
View Full History

Portfolio

Index represents the J.P. Morgan CLO AAA Index

Top Holdings (As of 10/28/2025)
% of Fund
OCP CLO Ltd|5.04163|01/17/2037, 5.04%, 01/17/37 1.07
Octagon Investment Partners 51 Ltd|4.87444|07/20/2034, 4.87%, 07/20/34 1.06
KKR CLO 35 Ltd|5.08444|01/20/2038, 5.08%, 01/20/38 1.06
Ares LIII CLO Ltd|5.14541|10/24/2036, 5.15%, 10/24/36 1.02
Balboa Bay Loan Funding 2021-1 Ltd|4.87444|07/20/2034, 4.87%, 07/20/34 0.98
Ares Loan Funding VIII Ltd|5.11541|01/24/2038, 5.12%, 01/24/38 0.98
Magnetite XXXIX Ltd|5.02798|01/25/2037, 5.03%, 01/25/37 0.98
Anchorage Capital Clo 16 Ltd|5.13444|01/19/2038, 5.13%, 01/19/38 0.97
RAD CLO 21 Ltd|4.92798|01/25/2037, 4.93%, 01/25/37 0.93
KKR CLO 40 Ltd|5.18444|10/20/2034, 5.18%, 10/20/34 0.92
View full holdings

Download

Portfolio Characteristics (As of 10/28/2025)
 
Number of Holdings
Debt Issues		 468
Portfolio Turnover Rate
(1-year trailing)		 69.62%
Weighted Average Maturity
(years)		 4.61
Effective Duration
(years)		 0.23
Yield to Worst
 5.13%
Sector Allocation % of Fund % of Fund As of 10/28/2025
Fixed Income country and/or regional weights primarily based on Bloomberg classifications.
Credit Quality of Fixed Income Holdings % of Fund % of Fund As of October 28, 2025
The credit quality may total over 100% at times due to the purchase of newly issued CLOs directly from the issuers. New CLO issues may experience delayed settlement periods.

The credit rating displayed is determined based on the availability of ratings from specific agencies. If Moody's, S&P, and Fitch all provide ratings, the middle rating of the three is shown. If only two of these agencies provide ratings, the more conservative (lower) rating is displayed. Should only one of these agencies offer a rating, that rating alone is used. In cases where none of the primary agencies (Moody's, S&P, Fitch) provide a rating, ratings from secondary agencies KBRA or DBRS are considered. If both secondary agencies provide ratings, the more conservative of the two is shown. If only one secondary agency provides a rating, that rating is displayed.

Maturity Breakdown of Fixed Income Holdings % of Fund % of Fund As of 10/28/2025

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