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Launched · SEC filings

Janus Henderson AA-A CLO ETF

JANYSE ArcaJanus HendersonC

$50.07−0.01 (−0.01%)

As of Nov 2, 2026, 3:59 PM ET

C48/ 100

Rank 19 of 34 in Collateralized Loan Obligations (CLO)

C48/100Rank 19 of 34inCollateralized Loan Obligations (CLO)
Intraday session: down, 75 prints from 50.08 to 50.07. Range 50.07 to 50.10. Use the arrow keys to read each point.50.0850.0950.0950.0950.1010 AM12 PM2 PM4 PM
Expense ratio
0.29%*
Fund size
$183M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
69
Avg volume · 30D
20.7K sh
52W range
low $49.85high $50.38
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Feb 28, 2028. Without it: 0.32%.

The ETF.net JA Grade

Based on 5 of 6 pillars

C

Score 48 out of 100

Category
Collateralized Loan Obligations (CLO)⁠
Rank
19 of 34
Six-pillar profile for JA. Scores out of 100: Cost 45, Risk 64, Mission not scored, Tradability 48, Holdings 36, Durability 50. Strongest: Risk (64). Weakest: Holdings (36). Based on 5 of 6 pillars.

Score 48 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C45 out of 100
    Rank 18 of 34

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B64 out of 100
    Rank 12 of 33

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C48 out of 100
    Rank 16 of 34

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D36 out of 100
    Rank 29 of 34

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C50 out of 100
    Rank 21 of 34

Our read on JA

ETF.net Research

In short

CMost CLO ETFs pile into the AAA tranche. JA steps one rung down to AA and A rated, floating-rate CLOs, run by the same Janus securitized desk behind JAAA and JBBB. Fee: 0.29% net of a waiver through February 28, 2028.

Stated mandate

The fund seeks capital preservation and current income through an actively managed portfolio focused on high-quality AA to A rated collateralized loan obligations.

Why people hold it

  • The mandate names its rung: AA and A rated, floating-rate CLOs, benchmarked to a 70/30 blend of the JPMorgan CLO A and CLO AA indexes. You know where in the capital stack you sit.janushenderson.comjanushenderson.com 2
  • Coupons reset with short-term rates, so interest-rate duration stays short and the fund behaves unlike a fixed-rate bond fund. Income is paid monthly.janushenderson.com
  • Same securitized desk that runs the firm's established AAA and B-BBB CLO ETFs (JAAA and JBBB). JA fills the middle rung their lineup was missing.janushenderson.com
  • 0.29% net of a waiver through February 28, 2028 (0.32% gross), near the category median. AAA-only JAAA charges 0.20% and PAAA 0.19%, but those buy a different tranche.

Worth knowing

  • AA and A tranches sit below AAA in a CLO's payment waterfall: more spread on offer, more exposure to downgrades and to defaults in the underlying loan pool.sec.gov
  • Launched in February 2026, so the track record is short and has not yet been tested across a full credit cycle.
  • Thinly traded and modest in size next to the AAA heavyweights, which can mean wider bid-ask spreads.

JA Performance

Launched Feb 18, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
JA$10,120
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. JA $10,120. SPY $10,141. Use the arrow keys to read each point.$10,000$10,200$10,400Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for JA. Periods over one year show the average yearly return.
PeriodJA
Year to dateFund launched this yearNo data
1 month+0.5%
3 months+1.2%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for JA
YearReturn barJA
2026 YTD+3.4%

History from Feb 19, 2026

JA in the news

JA Dividends

Upcoming payment
$0.20 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 8 payments in 2026 YTD. Mar 31, 2026 $0.26; Apr 30, 2026 $0.21; May 29, 2026 $0.18; Jun 30, 2026 $0.22; Jul 31, 2026 $0.20; Aug 31, 2026 $0.20; Sep 30, 2026 $0.21; Oct 30, 2026 $0.20. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Oct 30, 2026Pays Nov 5, 2026$0.20
Sep 30, 2026Oct 6, 2026$0.21
Aug 31, 2026Sep 4, 2026$0.20
Jul 31, 2026Aug 6, 2026$0.20
Jun 30, 2026Jul 7, 2026$0.22
May 29, 2026Jun 4, 2026$0.18
Apr 30, 2026May 6, 2026$0.21
Mar 31, 2026Apr 1, 2026$0.26

JA Risk

Risk pillarB64 out of 100Rank 12 of 33 in Collateralized Loan Obligations (CLO)
How much the fund’s monthly returns vary, scaled to a year.
Launched Feb 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
Launched Feb 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
Launched Feb 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.04
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

JA Cost

Compare JA and CLOC

Overpaying vs CLOC, cheapest in Collateralized Loan Obligations (CLO)

$2,203

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • JA 0.29%

    $5,952

  • CLOC 0.18% Cheapest

    $3,749

$10,000
30 years

Cost over time

  • JA 0.29%
  • CLOC 0.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530JA $5,952CLOC $3,749

Year by year

YearJACLOCOverpaying
10$527$328$199
20$2,044$1,281$763
30$5,952$3,749$2,203
How the 0.29% is worked out

Full fee 0.32%− waiver 0.03%= you pay 0.29%

The waiver ends Feb 28, 2028. After that the fee is 0.32% unless Janus Henderson renews it. Source: prospectus, Feb 2026.

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