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ETF comparison

JAAA vs PAAA

Both US Aggregate Bond.

Janus Henderson AAA CLO ETF · PGIM AAA CLO ETF

Holdings overlap

Weighted by ISIN/CUSIP
9.2 %

69 positions appear in both funds. Buying equal dollars of JAAA and PAAA would leave roughly 9.2% of each dollar exposed to the same underlying securities.

JAAA unmatched 91.1% Shared 9.2% PAAA unmatched 87.1%

Unmatched is the part of a fund's weight the other fund doesn't match: names only it holds, plus any extra weight it puts in names both funds hold.

In JAAA only
529 positions
Shared
69 positions
In PAAA only
260 positions

Side by side

JAAA

Janus Henderson AAA CLO ETF

Janus Henderson · US Aggregate Bond

82 composite / 100
Expense ratio
0.20%
Net assets
$31.49B
TTM yield
4.84%
Top-10 conc.
6.8%
PAAA

PGIM AAA CLO ETF

PGIM · US Aggregate Bond

82 composite / 100
Expense ratio
0.19%
Net assets
$13.92B
TTM yield
4.65%
Top-10 conc.
11.2%

Sub-score comparison

80
Cost
81
51
Tax efficiency
51
100
Liquidity
100
100
Concentration
98
—
Tracking quality
—
JAAA sub-score PAAA

Tracking quality isn't part of the composite — see what we don't score for why.

Cost difference

PAAA is 1 bps cheaper than JAAA. On a $100,000 position that's about $10/yr more in fees for JAAA.

Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with JAAA vs PAAA.

Top shared holdings

69 shared in total
# Holding In JAAA In PAAA Overlap
1 Magnetite XXXII Ltd. 0.60% 0.50% 0.50%
2 Elmwood CLO 28 Ltd. 0.51% 0.49% 0.49%
3 ARES Loan Funding II Ltd. 0.45% 0.40% 0.40%
4 Regatta 32 Funding Ltd. 0.37% 0.65% 0.37%
5 KKR CLO 54 Ltd. 0.32% 0.44% 0.32%
6 Kings Park CLO Ltd. 0.39% 0.30% 0.30%
7 Madison Park Funding XL-R Ltd. 0.28% 0.53% 0.28%
8 KKR CLO 52 Ltd. 0.27% 0.62% 0.27%
9 Elmwood CLO II Ltd. 0.26% 0.55% 0.26%
10 LCM 40 Ltd. 0.25% 0.45% 0.25%
11 Sixth Street CLO IX Ltd. 0.27% 0.24% 0.24%
12 HPS Loan Management Ltd. 0.27% 0.23% 0.23%

Only in JAAA

529 total
  • KKR CLO 35 Ltd. 0.85%
  • AB BSL CLO 1 Ltd. 0.78%
  • Anchorage Capital CLO 16 Ltd. 0.73%
  • Palmer Square CLO Ltd. 0.68%
  • Ares LXI CLO Ltd. 0.68%
  • WISE CLO Ltd. 0.62%
  • Carlyle US CLO Ltd. 0.60%
  • Regatta XIX Funding Ltd. 0.60%
  • Oaktree CLO Ltd. 0.60%
  • Regatta XI Funding Ltd. 0.60%

Only in PAAA

260 total
  • CBAMR LTD 1.92%
  • Regatta XXVII Funding Ltd / Regatta XXVII Funding LLC 1.58%
  • ELEVATION CLO 2021-12 LTD 1.13%
  • OCTAGON INVESTMENT PARTNERS 31 LTD 1.04%
  • Cbam 2020-13 Ltd. 0.99%
  • ELMWOOD CLO 25 LTD 0.99%
  • NEUBERGER BERMAN LOAN ADVISERS CLO 33 LTD 0.96%
  • AGL CLO I LTD 0.87%
  • RAD CLO 25 LTD 0.80%
  • MIDOCEAN CREDIT CLO VII LTD 0.77%

Percentages are holdings overlap with the named fund.

Open JAAA or PAAA at a brokerage

Both funds trade commission-free at major US brokerages.

Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.

Holdings overlap is the sum of min(weight_a, weight_b) over positions matched on ISIN (CUSIP fallback). Methodology: see /methodology/.

Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.