Janus Henderson B-BBB CLO ETF

Frequently Asked Questions About JBBB

What does JBBB invest in?

JBBB seeks to provide capital preservation and current income by investing in floating-rate collateralized loan obligations (CLOs) of any maturity. The fund will primarily be composed of CLOs rated between BBB+ and B-, with up to 15% in below investment grade (BB+ or lower) loans, and up to 10% in CLOs (or ETFs which provide exposure to CLOs) rated above BBB+. It is important to note this funds specific credit range, as it will increase credit risk and liquidity risk relative to more senior CLO tranches. JBBB will generally invest in USD denominated CLOs, but may invest up to 30% in those denominated in foreign currencies. The portfolio managers have full discretion with regards to the daily management of the fund, and will utilize a bottom-up approach in selecting securities to buy and sell. The fund also limits each CLO to 5% of the fund, and will hedge any foreign currency exposure.

What is the expense ratio of JBBB?

Janus Henderson B-BBB CLO ETF (JBBB) charges an expense ratio of 0.47%. This is the annual fee deducted from fund assets to cover management and operations.

What is JBBB's dividend yield?

JBBB's trailing-twelve-month yield is 6.35%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of JBBB?

Effective duration measures JBBB's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. JBBB's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of JBBB?

JBBB's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of JBBB?

Yield to maturity (YTM) is the total return you'd earn from JBBB if every bond in the portfolio is held to maturity at the current price. JBBB's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.