Please ensure Javascript is enabled for purposes of website accessibility B-BBB CLO ETF - Janus Henderson Investors - US Investor
{{banner.link_text}}
For Individual Investors in the US

JBBB B-BBB CLO ETF

Provides exposure to floating-rate collateralized loan obligations (CLOs) generally rated from B to BBB in a liquid, transparent manner.

How to buy

NAV
$47.97
As of 04/24/2025

1-Day Change
$0.04 (0.08%)
 As of 04/24/2025

YTD Return
-0.63%
As of 04/24/2025

Morningstar Rating

As of 03/31/2025

Overview

About this ETF

An ETF with floating rate exposure to CLOs rated from B to BBB and seeking to deliver investors access to securities with low default risk, low correlations to traditional fixed income asset classes and yield potential.

Why Invest in this ETF

Diversification Potential
B to BBB-rated CLOs may help diversify a traditional fixed income portfolio.

Floating Rate Exposure
Floating-rate coupons can help limit the impact during periods of rising rates.

Efficient ETF Structure
Provides exposure to CLOs rated from B to BBB historically available only to institutional investors, with the liquidity, lower cost, and transparency characteristics of an ETF structure.

*Designations

NAIC 2.C (2024 preliminary)

What are CLOs?

Hear from Jess Shill, CLO Portfolio Manager, as she dives into the intricate world of Collateralized Loan Obligations, or CLOs. Learn how these financial instruments can play a pivotal role in financing smaller, innovative companies and offer investors distinct advantages.

Portfolio Management

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

Head of US 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 03/31/2025)
Nav Market-Price JP Morgan CLO BBB Index
 
3M YTD 1YR 3YR Since Inception
(01/12/2022)
Nav 0.26 0.26 7.85 7.12 6.24
Market-Price 0.16 0.16 7.41 7.06 6.23
JP Morgan CLO BBB Index 1.10 1.10 9.20 8.94 8.20
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 03/31/2025)
Nav Market-Price JP Morgan CLO BBB Index
 
3M YTD 1YR 3YR Since Inception
(01/12/2022)
Nav 0.26 0.26 7.85 7.12 6.24
Market-Price 0.16 0.16 7.41 7.06 6.23
JP Morgan CLO BBB Index 1.10 1.10 9.20 8.94 8.20
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 JP Morgan CLO BBB Index
2024 2023
Nav 11.04 15.35
JP Morgan CLO BBB Index 11.79 17.66
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

Returns-Based Statistics (As of 03/31/2025)

RISK / REWARD
VS. JP Morgan CLO BBB Index		 3YR 5YR
Information Ratio -1.97 -
Alpha -1.77 -
Tracking Error 0.85 -
Beta 1.02 -
R-squared (%) 97.82 -
UP/DOWN MARKET CAPTURE (%)
JP Morgan CLO BBB Index		 3YR 5YR
Up Capture Ratio 90.47 -
Down Capture Ratio 113.84 -
STANDARD DEVIATION 3YR 5YR
B-BBB CLO ETF 5.75 -
JP Morgan CLO BBB Index 5.57 -
SHARPE RATIO 3YR 5YR
B-BBB CLO ETF 0.45 -
JP Morgan CLO BBB Index 0.77 -
DISTRIBUTION OVERVIEW
Ex-DateRecord DatePayable DateOrdinary IncomeShort-Term Capital GainsLong-Term Capital GainsTotal Distribution
04/01/202504/01/202504/07/2025$0.3195610$0.0000000$0.0000000$0.3195610
03/03/202503/03/202503/07/2025$0.2796020$0.0000000$0.0000000$0.2796020
02/03/202502/03/202502/07/2025$0.2709430$0.0000000$0.0000000$0.2709430
12/23/202412/23/202412/30/2024$0.3357300$0.0000000$0.0000000$0.3357300
12/02/202412/02/202412/06/2024$0.3168540$0.0000000$0.0000000$0.3168540
11/01/202411/01/202411/07/2024$0.3123970$0.0000000$0.0000000$0.3123970
10/01/202410/01/202410/07/2024$0.3509690$0.0000000$0.0000000$0.3509690
View Full History

Portfolio

Index represents the JP Morgan CLO BBB Index

Top Holdings (As of 04/23/2025)
% of Fund
Janus Henderson AAA CLO ETF 5.34
Elmwood CLO XII Ltd|7.3561|10/15/2037, 7.36%, 10/15/37 1.53
BlueMountain CLO XXXII Ltd|7.3561|10/15/2034, 7.36%, 10/15/34 1.42
Madison Park Funding XLV Ltd|7.1561|07/15/2034, 7.16%, 07/15/34 1.42
CBAMR 2019-9 Ltd|8.4061|07/15/2037, 8.41%, 07/15/37 1.35
CBAMR 2018-8 Ltd|8.2561|07/15/2037, 8.26%, 07/15/37 1.22
TCW CLO 2021-1 Ltd|7.36947|01/20/2038, 7.37%, 01/20/38 1.22
Birch Grove Clo 11 Ltd|7.44889|01/22/2038, 7.45%, 01/22/38 1.18
LCM 41 Ltd|8.8061|04/15/2036, 8.81%, 04/15/36 1.11
Madison Park Funding XXXIX Ltd|7.47238|10/22/2034, 7.47%, 10/22/34 1.11
View full holdings

Download

Portfolio Characteristics (As of 04/23/2025)
 
Number of Holdings
Debt Issues		 218
Portfolio Turnover Rate
(1-year trailing)		 54.63%
Weighted Average Maturity
(years)		 7.05
Effective Duration
(years)		 0.22
Yield to Worst
 8.17%
Sector Allocation % of Fund % of Fund As of 04/23/2025
Fixed Income country and/or regional weights primarily based on Bloomberg classifications.
Regional Allocation % of Fund % of Fund As of April 23, 2025
Credit Quality of Fixed Income Holdings % of Fund % of Fund As of April 23, 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.
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).
Holdings in fixed income ETFs and pooled vehicles are classified based on their underlying securities and credit ratings are obtained from Bloomberg.
Maturity Breakdown of Fixed Income Holdings % of Fund % of Fund As of 04/23/2025

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Related Insights
The art and science of managing AAA CLO portfolios
Mar 26, 2025
Timely & Topical

The art and science of managing AAA CLO portfolios

A review of the fast-growing AAA CLO ETF market and some key observations for investors.

5 min read

Top-performing U.S. fixed income sectors of 2024: Securitized outpaces the Agg
Feb 18, 2025
Timely & Topical

Top-performing U.S. fixed income sectors of 2024: Securitized outpaces the Agg

Ranking the best-performing U.S. fixed income sectors of 2024.

3 min read

Busting the bias against U.S. securitized
Feb 11, 2025
Timely & Topical

Busting the bias against U.S. securitized

John Kerschner points out the biases that he believes may keep investors out of U.S. securitized assets

10 min read

Choose region

Country

Language

What type of investor are you?