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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
9.6 %

70 positions appear in both funds. Buying equal dollars of JAAA and PAAA would leave roughly 9.6% of each dollar exposed to the same underlying securities.

JAAA only 87.1% Shared 9.6% PAAA only 85.4%
In JAAA only
530 positions
Shared
70 positions
In PAAA only
276 positions

Side by side

JAAA

Janus Henderson AAA CLO ETF

Janus Henderson · US Aggregate Bond

82 composite / 100
Expense ratio
0.20%
Net assets
$28.41B
TTM yield
4.95%
Top-10 conc.
11.9%
PAAA

PGIM AAA CLO ETF

PGIM · US Aggregate Bond

82 composite / 100
Expense ratio
0.19%
Net assets
$10.16B
TTM yield
4.84%
Top-10 conc.
13.8%

Sub-score comparison

80
Cost
81
51
Tax efficiency
51
100
Liquidity
100
97
Concentration
95
—
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

70 shared in total
# Holding In JAAA In PAAA Overlap
1 ARES Loan Funding II Ltd. 0.48% 0.53% 0.48%
2 Magnetite XXXII Ltd. 0.65% 0.47% 0.47%
3 Signal Peak CLO 14 Ltd. 0.37% 0.77% 0.37%
4 KKR CLO 54 Ltd. 0.35% 0.37% 0.35%
5 Kings Park CLO Ltd. 0.43% 0.33% 0.33%
6 Neuberger Berman Loan Advisers CLO 33 Ltd. 0.31% 0.64% 0.31%
7 KKR CLO 52 Ltd. 0.30% 0.40% 0.30%
8 Regatta 32 Funding Ltd. 0.29% 0.60% 0.29%
9 LCM 40 Ltd. 0.27% 0.61% 0.27%
10 Madison Park Funding XL-R Ltd. 0.26% 0.72% 0.26%
11 Elmwood CLO II Ltd. 0.24% 0.60% 0.24%
12 Sixth Street CLO IX Ltd. 0.29% 0.23% 0.23%

Only in JAAA

530 total
  • KKR CLO 35 Ltd. 0.93%
  • AB BSL CLO 1 Ltd. 0.85%
  • Anchorage Capital CLO 16 Ltd. 0.79%
  • Anchorage Capital CLO 17 Ltd. 0.77%
  • Carlyle US CLO Ltd. 0.68%
  • Regatta XIX Funding Ltd. 0.65%
  • Carlyle US CLO Ltd. 0.65%
  • Galaxy 35 CLO Ltd. 0.64%
  • Symphony CLO XVIII Ltd. 0.64%
  • OFSI BSL XV CLO Ltd. 0.63%

Only in PAAA

276 total
  • SYMP SERIES 2021-28A CLASS A 1.00%
  • Madison Park Funding Xxxiv Ltd. 0.99%
  • 720 EAST CLO 2023-II LTD 0.94%
  • BARINGS CLO 2025-III LTD 0.93%
  • RR 1 LTD 0.92%
  • GARNET CLO 3 LTD 0.87%
  • ELMWOOD CLO 41 LTD 0.87%
  • Park Blue CLO 2023-IV Ltd. 0.87%
  • BALLYROCK CLO 32 LTD 0.82%
  • MADISON PARK EURO FUNDING XVII DAC 0.74%

Open JAAA or PAAA at a brokerage

Both funds trade commission-free at major US brokerages.

Open at Fidelity

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.