- Janus Henderson has the two largest CLO
ETFs with over 85% market share in all CLO ETF AUM
- JBBB is only the second CLO ETF to reach $1
billion in AUM and is the second largest CLO ETF, behind only Janus
Henderson’s AAA CLO ETF, JAAA
Janus Henderson Investors (NYSE: JHG) today announced that the
Janus Henderson B-BBB Collateralized Loan Obligation ETF
(JBBB), has exceeded $1 billion in AUM. JBBB is
only the second CLO ETF to reach $1 billion in AUM and is the
second largest CLO ETF behind Janus Henderson’s AAA CLO ETF
(JAAA) as measured by AUM.1 JBBB now represents 55% of all
below-AAA CLO ETF AUM.2
Following the success of JAAA, JBBB was launched in January 2022
and was the first ETF focused on providing exposure to CLOs
generally rated BBB, expanding U.S. investor access to an asset
class that historically was largely only available to institutional
investors. JBBB seeks capital preservation and current income by
seeking to deliver floating-rate exposure to CLOs rated between and
inclusive of BBB+ and B- in a liquid, transparent manner. JBBB
seeks to generate yields above high-yield corporates with lower
default risk by investing primarily in investment grade CLOs. JBBB
has grown by over $850 million in AUM this year alone3 and is
managed by Portfolio Managers John Kerschner, CFA, Nick
Childs, CFA, and Jessica Shill.
Janus Henderson has the two largest CLO ETFs with over 85%
market share in all CLO ETF AUM.4 JAAA represents over 90% of all
AAA CLO ETF AUM5, having surpassed $10bn in AUM in June 2024. It is
the largest CLO ETF and the top actively managed fixed income ETF
globally in terms of net inflows YTD.6
John Kerschner, Head of U.S. Securitized Products and
Portfolio Manager at Janus Henderson Investors, said, “We have
continued to see strong investor demand for our CLO ETFs and other
securitized funds. Incorporating CLOs into a portfolio may help to
enhance its overall risk/return profile given CLOs have
historically been less correlated with the investment grade and
high yield segments of the bond market and offer attractive yield
on a relative basis. With Janus Henderson’s rigorous CLO manager
due diligence and portfolio construction process, JBBB provides
access to predominantly investment grade CLOs with potentially
broad diversification benefits based on historically low daily
volatility and low correlation to traditional fixed income markets,
while offering yield potential.”
“We believe the growth of JBBB speaks to Janus Henderson’s
continued focus on product innovation, competitive pricing and
investment excellence. In our view, BBB CLOs are underrepresented
in portfolios relative to other higher income solutions and may
further enhance diversification in client portfolios,” added
Michael Schweitzer, Head of North America Client Group at Janus
Henderson Investors.
Janus Henderson has been at the forefront of active fixed income
ETF innovation and offers a number of pioneering fixed income ETFs.
In addition to JAAA and JBBB, these include the
recently launched JSI, which invests in opportunities across
the U.S. securitized markets, JMBS, the largest actively
managed mortgage-backed securities ETF7, and VNLA, an active
global short duration income ETF. Janus Henderson is the fourth
largest active fixed income ETF provider globally.8 The firm won
Global Capital’s inaugural CLO ETF Provider of the Year award in
2024.9
Notes to editors
Janus Henderson Group is a leading global active asset manager
dedicated to helping clients define and achieve superior financial
outcomes through differentiated insights, disciplined investments,
and world-class service. As of March 31, 2024, Janus Henderson had
approximately US$353 billion in assets under management, more than
2,000 employees, and offices in 24 cities worldwide. The firm helps
millions of people globally invest in a brighter future together.
Headquartered in London, Janus Henderson is listed on the New York
Stock Exchange.
Source: Janus Henderson Group plc
Investing involves risk, including the possible loss of
principal and fluctuation of value. Past performance is no
guarantee of future results. There is no assurance the stated
objective(s) will be met.
Please consider the charges, risks, expenses, and investment
objectives carefully before investing. For a prospectus or, if
available, a summary prospectus containing this and other
information, please call Janus Henderson at 800.668.0434 or
download the file from janushenderson.com/info. Read it
carefully before you invest or send money.
OBJECTIVE: Janus Henderson B-BBB CLO ETF (JBBB) seeks capital
preservation and current income by seeking to deliver floating-rate
exposure to collateralized loan obligations (“CLOs”) generally
rated between and inclusive of BBB+ and B-.
Collateralized Loan Obligations (CLOs) are debt
securities issued in different tranches, with varying degrees of
risk, and backed by an underlying portfolio consisting primarily of
below investment grade corporate loans. The return of principal is
not guaranteed, and prices may decline if payments are not made
timely or credit strength weakens. CLOs are subject to liquidity
risk, interest rate risk, credit risk, call risk and the risk of
default of the underlying assets.
Concentrated investments in a single sector, industry or
region will be more susceptible to factors affecting that group and
may be more volatile than less concentrated investments or the
market as a whole.
Derivatives can be more volatile and sensitive to
economic or market changes than other investments, which could
result in losses exceeding the original investment and magnified by
leverage.
Actively managed portfolios may fail to produce the
intended results. No investment strategy can ensure a profit or
eliminate the risk of loss.
Credit quality ratings are measured on a scale that generally
ranges from AAA (highest) to D (lowest). Ratings may differ by
rating agency.
Janus Henderson Investors US LLC is the investment adviser and
ALPS Distributors, Inc. is the distributor. ALPS is not affiliated
with Janus Henderson or any of its subsidiaries.
Janus Henderson is a trademark of Janus Henderson Group plc or
one of its subsidiaries. © Janus Henderson Group plc.
This press release is solely for the use of members of the
media and should not be relied upon by personal investors,
financial advisers, or institutional investors. We may record
telephone calls for our mutual protection, to improve customer
service and for regulatory record keeping purposes. All opinions
and estimates in this information are subject to change without
notice.
____________________________ 1 Source: Morningstar as of July
11, 2024 2 Source: Morningstar as of July 11, 2024 3 Source:
Morningstar as of July 11, 2024 4 Source: Morningstar as of July
11, 2024 5 Source: Morningstar as of July 11, 2024 6 Source:
Morningstar as of July 11, 2024 7 Source: Morningstar as of July
11, 2024 8 Source: Morningstar as of June 30, 2024 9 For more about
the awards, including selection criteria, please visit:
https://www.globalcapital.com/us-securitization
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version on businesswire.com: https://www.businesswire.com/news/home/20240715338812/en/
Press Inquiries Janus Henderson Investors Media:
Candice Sun Head of Corporate Communications, North America +1
303-336-5452 candice.sun@janushenderson.com
Sarah Johnson Director of Corporate Communications, North
America +1 720-364-0708 sarah.johnson@janushenderson.com
Investor Relations: Jim Kurtz Head of Investor Relations +1
303-336-4529 jim.kurtz@janushenderson.com
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