Janus Henderson B-BBB CLO ETF

JBBB

Market cap $1.46B

Overview Fund Activity

48.26 USD

+0.02

0.04%

At close Updated Sep 12, 4:00 PM EDT

1 day

0.04%

5 days

0.1%

1 month

-0.14%

3 months

-0.14%

6 months

-0.35%

Year to date

-2.17%

1 year

-0.98%

5 years

-3.77%

10 years

-3.77%

0

Funds holding %

of 7,462 funds

–

Analysts bullish %

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

12% less repeat investments, than reductions

Existing positions increased: 59 | Existing positions reduced: 67

13% less call options, than puts

Call options by funds: $4.09M | Put options by funds: $4.72M

14% less funds holding

Funds holding: 198 [Q1] → 171 (-27) [Q2]

21.73% less ownership

Funds ownership: 64.71% [Q1] → 42.98% (-21.73%) [Q2]

41% less first-time investments, than exits

New positions opened: 32 | Existing positions closed: 54

50% less capital invested

Capital invested by funds: $1.15B [Q1] → $577M (-$575M) [Q2]

55% less funds holding in top 10

Funds holding in top 10: 11 [Q1] → 5 (-6) [Q2]

See Fund Rankings

Financial journalist opinion

Based on 4 articles about JBBB published over the past 30 days

JBBB: A CLO ETF That Sparks Debate Today

JBBB yields over 7%, for an exposure to CLO tranches from BBB+ to B- (floating rate) increasingly appreciated. A competitive segment compared to traditional aggregate income markets, an excellent asset allocation choice over the past 3 years. Despite the short duration, it is not unaffected by movements in the credit market. The upcoming changes could reduce the expected yield.

JBBB: A CLO ETF That Sparks Debate Today

CEFs Are Becoming Less Appealing For Income Investors

The investment case for closed-end funds (CEFs) is weak now due to tight discounts, high leverage costs, and expensive underlying assets. Most CEFs do not deliver sustainable alpha, and lower-fee actively managed ETFs now offer similar exposures with better economics. We have reduced our CEF allocation, favoring alternatives like BDCs, select ETFs, preferreds, and bonds for better value and risk/reward.

CEFs Are Becoming Less Appealing For Income Investors

JBBB: Staying Bullish, Despite Its Heightened Tail Risk

Janus Henderson B-BBB CLO ETF's yield remains above 7%, and the vehicle now trades at a discount to NAV. Benchmark rates will most likely shift in tandem with PCE, sustaining JBBB ETF's real yield. Credit risk is a tangible concern. Structurally higher risk could enhance JBBB ETF's loan-level spreads. However, a tail-risk event would introduce telling downside risk.

JBBB: Staying Bullish, Despite Its Heightened Tail Risk

3 Of The Best CLO ETFs: Good Returns, Great Yields, And Below-Average Risk

CLO ETFs have higher yields, lower risk and volatility, than most other types of fixed-income ETFs. Performance has been exceedingly strong for years, albeit a bit weaker since the Fed cut rates last year. There are CLO ETFs with different risk-return profiles, some appropriate for more risk-averse investors, some for more aggressive ones.

3 Of The Best CLO ETFs: Good Returns, Great Yields, And Below-Average Risk

Janus Henderson B-BBB CLO ETF: A Great Way To Diversify Portfolio And Pick Up Yield

Janus Henderson B-BBB CLO ETF offers an 8.04% yield, low correlation to traditional assets, and credit enhancements, making it a strong diversifier for income-focused portfolios. CLO ETFs, including JBBB, have seen rapid growth and outperform high-yield bonds and leveraged loans, with lower historical default rates. Key risks include limited liquidity, potential yield compression, and sensitivity to interest rates, making a buy-and-hold strategy advisable.

Janus Henderson B-BBB CLO ETF: A Great Way To Diversify Portfolio And Pick Up Yield

JBBB: A CLO Fund Fit For Retirement Portfolios

High-yielding CLOs are complex and dangerous, with the risks of NAV decay and yield reductions being very high. However, JBBB presents a completely different story. In the article, I discuss why I see a bullish case for JBBB, where, in my view, the typical high-yielding CLO risks are greatly mitigated.

JBBB: A CLO Fund Fit For Retirement Portfolios

JBBB: Balanced Risk-Reward

My cautious stance on Janus Henderson B-BBB CLO ETF proved correct, as Trump's tariff escalation triggered sharp credit market declines, validating my preference for safer JAAA exposure. However, credit markets recovered following Trump's 90-day tariff pause, with JBBB's total returns now surpassing JAAA since March. With investors looking past Trump's escalations due to a perceived 'TACO trade' and resilient economic data, the risk of a recession is receding.

JBBB: Balanced Risk-Reward

Janus Henderson's ETF Lineup Is More Than CLOs

At the end of April, Janus Henderson managed $31 billion in actively managed ETF assets. Approximately half of the money impressively flowed into these ETFs in the prior 12 months.

Janus Henderson's ETF Lineup Is More Than CLOs

JBBB: CLO Market Failing To Recover As Economic Breadth Declines

JBBB offers an 8% yield but is exposed to high credit risk in underperforming economic segments, which are showing signs of strain. The ETF's floating-rate structure protects against rate hikes, but increases the vulnerability of high-risk borrowers to defaults if economic conditions worsen. Thin credit spreads suggest that JBBB's yield may not fully compensate for rising risks, especially given the rising rates of commercial and industrial delinquencies.

JBBB: CLO Market Failing To Recover As Economic Breadth Declines

Advisors Plan to Take on Credit — Not Duration — Risk

Advisors don't want to take on much interest rate risk. But many are willing to take on some credit risk.

Advisors Plan to Take on Credit — Not Duration — Risk

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