Launched Oct 16, 2020 · SEC filings

Janus Henderson AAA CLO ETF

JAAANYSE ArcaJanus HendersonA

$50.49+0.05 (+0.10%)

At close: Nov 2, 2026, 4:00 PM ET

A83/ 100

Rank 1 of 34 in Collateralized Loan Obligations (CLO)

A83/100Rank 1 of 34inCollateralized Loan Obligations (CLO)

Expense ratio: 0.20%
Fund size: $32.5B
1Y total return: +4.8%
Yield · Last 12 months: 5.26%
Holdings: 635
Avg volume · 30D: 6.54M sh
52W range: low $50.32high $50.82
Launched: Oct 16, 2020
Filings: SEC EDGAR

The ETF.net JAAA Grade

Based on 5 of 6 pillars

Score 83 out of 100

Category: Collateralized Loan Obligations (CLO)⁠
Rank: 1 of 34

Cost
A80 out of 100
Rank 2 of 34
Mission
Not scored
Risk
A73 out of 100
Rank 7 of 33
Tradability
A98 out of 100
Rank 1 of 34
Holdings
A81 out of 100
Rank 4 of 34
Durability
A93 out of 100
Rank 1 of 34

Our read on JAAA

ETF.net Research

In short

AThe AAA CLO trade in an ETF wrapper, running since 2020: floating-rate exposure to the senior slice of the corporate loan stack, aiming for capital preservation and income, at a fee below the group norm.

Stated mandate

The fund seeks capital preservation and current income through floating-rate exposure to high-quality AAA-rated collateralized loan obligations.

Why people hold it

Costs 0.20% a year, under the typical fee in its CLO peer group, and the newer AAA CLO rivals (CLOA, FAAA, ACLO) cluster at that same number rather than undercutting it.
Very actively traded and a multi-billion-dollar fund, which is real market depth for an asset class that mostly lives in institutional hands.
AAA CLO tranches pay floating coupons, so income resets as short-term rates move instead of being locked in. Distributions land monthly.
Spread across roughly 400 positions at the top AAA rung of the loan capital stack, so no single deal carries the fund. One of the stronger builds in its peer group.

Worth knowing

Actively managed with no declared index behind it, so which deals and tranches the fund owns comes down to the manager, not a published rulebook.
Floating rate cuts both ways: when short-term rates fall, the income these deals throw off falls with them.
AAA is the senior rung, but it is still corporate loan credit, not Treasuries. The fund's stated aim is capital preservation, not a guarantee of it.

JAAA Holdings

Holdings pillarA81Rank 4 of 34 in Collateralized Loan Obligations (CLO)

Asset class: Bonds
Holdings: 635
Top-10 weight: 7%
Largest holding: FX Forward|USD|01/25/20271.3%

Geography

Cayman Islands92.35%
United States4.43%
United Kingdom1.77%

Bermuda1.10%
Ireland0.34%

Developed 2% · Emerging 98% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 43.
#	Ticker	Company	Weight %	Shares	Market value	Held by ETFs
1	No data	FX Forward\|USD\|01/25/2027	1.28%	413,868,783	$414M	5
2	No data	Kkr Clo 35 Ar 5.28444% 20-JAN-2038, 5.28%, 01/20/38	0.78%	249,004,000	$253M	1
3	No data	Ab Bsl Clo 1 A1R2 5.29249% 15-OCT-2038, 5.29%, 10/15/38	0.71%	229,000,000	$230M	1
4	No data	Madison Park Funding XXXI A1AR3 5.27803% 23-JUL-2037, 5.28%, 07/23/37	0.71%	229,100,000	$229M	1
5	No data	Oaktree CLO 2019-4 AR3 5.31444% 20-JUL-2037, 5.31%, 07/20/37	0.70%	225,000,000	$225M	2
6	No data	Anchorage Capital Clo 16 Ltd\|5.36624\|01/19/2038, 5.37%, 01/19/38	0.67%	215,775,000	$216M	1
7	No data	Bear Mountain Park CLO AB FLTG 37, 5.26%, 07/15/37	0.62%	200,000,000	$201M	3
8	No data	Ares LXI CLO A1R2 5.29444% 20-APR-2037, 5.29%, 04/20/37	0.61%	197,500,000	$198M	1
9	No data	Carlyle Us Clo 2021-8 Ltd, 5.31%, 10/15/38	0.56%	181,550,000	$182M	2
10	No data	Madison Park Funding LIX A1R2 5.08375% 18-APR-2037, 5.31%, 04/18/37	0.56%	181,000,000	$182M	1
11	No data	Madison Park Funding XXXVII Ltd., 5.24%, 04/15/37	0.56%	181,325,000	$182M	1
12	No data	Wise CLO 2024-1 AR 5.28249% 15-APR-2037, 5.28%, 04/15/37	0.56%	180,500,000	$181M	1
13	No data	Carlyle U.S. CLO 2021-10 A1R 5.39444% 20-JAN-2038, 5.39%, 01/20/38	0.55%	174,750,000	$177M	1
14	No data	Magnetite XXXII AR 5.19249% 15-OCT-2037, 5.19%, 10/15/37	0.54%	175,000,000	$176M	3
15	No data	Regatta XIX Funding A1R 4.96921% 20-OCT-2038, 5.32%, 10/20/38	0.54%	175,000,000	$176M	1

Showing 1–15 of 635 holdings

JAAA Performance

Launched Oct 16, 2020

JAAA$10,476

$11,199

Oct 31, 2025 – Oct 30, 2026

Trailing total return for JAAA. Periods over one year show the average yearly return.
Period	JAAA
Year to date	+3.7%
1 month	+0.3%
3 months	+1.1%
1 year	+4.8%
3 years	per year+6.0%
5 years	per year+5.1%
10 yearsFund is under 10 years old	per yearNo data

With distributions reinvested.

Annual total returns for JAAA
Year	Return bar	JAAA
2026 YTD		+3.7%
2025		+5.2%
2024		+7.4%
2023		+8.6%
2022		+0.5%
2021		+1.4%
2020		+0.8%

History from Oct 19, 2020

JAAA in the news

ETF Filings
PGIM files for a CLO fund at 0.28% and a real estate fund at 0.49%
Sep 28, 2026
ETF Filings
First Trust files for FFLT, an investment-grade floating-rate ETF with a 50% CLO floor
Sep 21, 2026
ETF Launch Alert
T. Rowe Price's TSCZ enters a crowded securitized-income sleeve at 0.20%
Sep 4, 2026

JAAA Dividends

: 5.26%Last 12 months
Payout per share: $2.65Last 12 months

Upcoming payment: $0.21 per share
Pays on: Nov 5, 2026
: Oct 30, 2026
Frequency: Monthly

Distribution history

2023–2026

Ex-date	Pay date	Amount per share
Oct 30, 2026	Pays Nov 5, 2026	$0.21
Sep 30, 2026	Oct 6, 2026	$0.20
Aug 31, 2026	Sep 4, 2026	$0.21
Jul 31, 2026	Aug 6, 2026	$0.20
Jun 30, 2026	Jul 7, 2026	$0.20
May 29, 2026	Jun 4, 2026	$0.20
Apr 30, 2026	May 6, 2026	$0.20
Mar 31, 2026	Apr 7, 2026	$0.20
Feb 27, 2026	Mar 5, 2026	$0.19
Jan 30, 2026	Feb 5, 2026	$0.18
Dec 22, 2025	Dec 29, 2025	$0.25
Dec 1, 2025	Dec 5, 2025	$0.19

See all 72 payments⁠

$10,000 in JAAA 5 years ago paid $2,477 in dividends.⁠

JAAA Risk

Risk pillarA73Rank 7 of 33 in Collateralized Loan Obligations (CLO)

: 0.8%; Annualised · 36 months to Oct 2026; 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.
: 1.98; vs 3-month T-bills · to Oct 2026; 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.
: −2.6%; Trough Jul 2022; 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.
: 0.02; 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.

JAAA Cost

Compare JAAA and CLOC

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

$406

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

JAAA 0.20%
$4,155
CLOC 0.18% Cheapest
$3,749

Amount$10,000

Years30 years

Cost over time

JAAA 0.20%
CLOC 0.18%
Overpaying

Year by year

Year	JAAA	CLOC	Overpaying
10	$365	$328	$37
20	$1,421	$1,281	$140
30	$4,155	$3,749	$406

Other funds in Collateralized Loan Obligations (CLO)

ACLOAiShares AAA CLO Active ETFExpense ratio 0.20%1 year return +5.0%
APAAAPGIM AAA CLO ETFExpense ratio 0.19%1 year return +4.8%
AACLOTCW AAA CLO ETFExpense ratio 0.20%1 year return +5.0%
AFAAAFIDELITY AAA CLO ETFExpense ratio 0.20%1 year return No data
AICLOInvesco AAA CLO Floating Rate Note ETFExpense ratio 0.19%1 year return +4.7%

See others

Janus Henderson AAA CLO ETF

Cost

Mission

Risk

Tradability

Holdings

Durability

In short

Stated mandate

Why people hold it

Worth knowing

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

Trailing returnsReturns 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.

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

PGIM files for a CLO fund at 0.28% and a real estate fund at 0.49%

First Trust files for FFLT, an investment-grade floating-rate ETF with a 50% CLO floor

T. Rowe Price's TSCZ enters a crowded securitized-income sleeve at 0.20%