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ETF Comparison

CLOZ vs JBBB: Same Credit Band, Different CLO Manager

A head-to-head of Eldridge's BBB-B CLO ETF and Janus Henderson's B-BBB CLO ETF covering credit, cost, and how cash is made.

Data updated September 4, 2026

Best for

  • CLOZInvestors who want higher current income (6.81% vs 6.08% for JBBB).
  • JBBBInvestors who want fixed-income ballast that steadies the portfolio when stocks fall.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

CLOZ has lagged JBBB over the trailing twelve months, posting a 4.49% total return against 4.88%. The picture flips over 3 years, though — CLOZ has compounded at 8.61% a year, ahead of JBBB at 7.58%. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD1Y3YSince Jan 2023Volatility Sharpe Sortino Max drawdown
CLOZ3.02%4.49%8.61%9.86%3.7%1.021.36-5.3%
JBBB3.72%4.88%7.58%8.80%3.7%0.771.08-4.3%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Jan 2023” measures every fund from January 24, 2023 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricCLOZJBBB
Full nameEldridge BBB-B CLO ETFJanus Henderson B-BBB CLO ETF
IssuerEldridge Capital ManagementJanus Henderson
Last Close$26.07 as of September 4, 2026$47.47 as of September 4, 2026
Distribution rate6.81%6.08%
Distribution Safety Score™ 7886
Safety-Adjusted Yield 5.31%5.23%
Expense ratio0.50%0.47%
AUM$802M$1.49B
Distribution frequencyMonthlyMonthly
Underlying index——
ObjectiveSeeks current income and capital appreciation by investing primarily in CLO debt tranches rated BBB to B.Actively managed ETF that invests in CLO tranches rated B- to BBB+, providing floating-rate exposure to help limit interest rate risk.
Asset classFixed IncomeFixed Income
Inception date01/23/202301/11/2022
Beta0.040.19
Last dividend$0.148 declared, pays 09/08/2026$0.2404 payable today
Ex-dividend date09/02/202608/31/2026

Bottom lineChoose CLOZ if you want higher current income (6.81% vs 6.08% for JBBB). Choose JBBB if you want fixed-income ballast that steadies the portfolio when stocks fall.

CLOZ vs JBBB: two BBB-B CLO books

Same credit band, two managers. Credit mix and cost should drive the choice, not which yield is larger on one date.

CLOZJBBB
IssuerEldridgeJanus Henderson
Credit bandBBB-B CLOsB-BBB CLOs
Expense ratio0.50%0.47%
Distribution yield6.81%6.08%
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Eldridge Capital Management
ETFs2
Total AUM$1.12B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Eldridge Capital Management operates a focused ETF lineup concentrated in the fixed income space. The firm currently manages one bond-focused ETF, CLOZ, which targets income-oriented investors seeking exposure to fixed income strategies. With a streamlined product offering, Eldridge Capital Management maintains a niche presence in the ETF market through its specialized bond fund approach.

See our curated list of related YouTube videos on CLOZ.

See all Eldridge Capital Management ETFs
Janus Henderson
ETFs19
Total AUM$46.1B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Janus Henderson operates a focused ETF lineup of six funds primarily concentrated in fixed-income and income-generating strategies. Their portfolio includes bond-focused funds across credit qualities (JAAA, JBBB, JMBS), an income-oriented equity fund (JSI), and specialized offerings like a Japanese equity fund (JUDO) and a non-leveraged alternatives fund (VNLA). The issuer targets investors seeking steady income streams and diversified exposure across traditional and alternative asset classes.

See our curated list of related YouTube videos on JBBB.

See all Janus Henderson ETFs

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Quick verdict

CLOZ (Eldridge BBB-B CLO ETF) and JBBB (Janus Henderson B-BBB CLO ETF) are both monthly-pay dividend ETFs, but they take different approaches.

CLOZ offers the higher yield at 6.81% vs 6.08% for JBBB. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

JBBB is cheaper with an expense ratio of 0.47% compared to 0.50%.

JBBB is the larger fund by assets ($1.49B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose CLOZ

Eldridge BBB-B CLO ETF

  • Want higher current income — CLOZ yields 6.81% vs 6.08% for JBBB.
  • Want fixed-income ballast that cushions equity drawdowns.
  • Prefer lower volatility — a beta of 0.0 vs 0.2 for JBBB.

Choose JBBB

Janus Henderson B-BBB CLO ETF

  • Want fixed-income ballast that cushions equity drawdowns.
  • Want to keep costs low — a 0.47% expense ratio vs 0.50% for CLOZ.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, CLOZ would generate roughly $56.75/month, while JBBB would produce $50.67/month, at current distribution rates. Both pay monthly distributions.

CLOZ yield6.81%
JBBB yield6.08%
Monthly diff on $10K$6.08

Cost & efficiency

Over 10 years on $10,000, CLOZ would cost approximately $500 in fees vs $470 for JBBB (simplified, not compounded). The $30.00 difference may be offset by yield or performance.

CLOZ ER0.50%
JBBB ER0.47%

Strategy & risk

CLOZ is an ETF built around CLO exposure, while JBBB is an actively managed ETF built around CLO exposure. Beta is 0.04 for CLOZ and 0.19 for JBBB, making CLOZ the less volatile of the two by this measure.

CLOZ beta0.04
JBBB beta0.19

Fund details

CLOZ is managed by Eldridge Capital Management (launched 01/23/2023) with $802M in assets. JBBB is managed by Janus Henderson (launched 01/11/2022) with $1.49B in assets.

CLOZ AUM$802M
JBBB AUM$1.49B
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Frequently asked questions

What is the difference between CLOZ and JBBB?

Both sit in the BBB-B CLO band and pay monthly. CLOZ (Eldridge BBB-B CLO ETF) is Eldridge's book. JBBB (Janus Henderson B-BBB CLO ETF) is Janus Henderson's. Cost is 0.50% versus 0.47%; distributions are 6.81% and 6.08% as of September 2026. Size is $802M versus $1.49B. Credit mix and manager are the decision, not which printed yield is larger on one date.

What is the current distribution rate for CLOZ and JBBB?

CLOZ currently distributes 6.81% and JBBB 6.08%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is CLOZ or JBBB better for dividend income?

It depends on your goals. CLOZ currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

Can I hold both CLOZ and JBBB?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is CLOZ or JBBB safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — JBBB scores 86, CLOZ scores 78, so JBBB's payout currently looks the more resilient of the two. CLOZ has also shown lower price volatility (beta 0.04 vs 0.19 for JBBB). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, CLOZ or JBBB?

CLOZ has an expense ratio of 0.50% while JBBB charges 0.47%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in CLOZ vs JBBB generate?

At current rates, $10,000 in CLOZ would generate roughly $56.75 per month ($681.00 annually). The same in JBBB would produce about $50.67 per month ($608.00 annually).

Which has performed better historically, CLOZ or JBBB?

CLOZ has lagged JBBB over the trailing twelve months, posting a 4.49% total return against 4.88%. The picture flips over 3 years, though — CLOZ has compounded at 8.61% a year, ahead of JBBB at 7.58%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

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CLOZ vs JBBB — at a glance

Generated September 5, 2026.

Overview

Both CLOZ and JBBB are actively managed ETFs that invest in collateralized loan obligation (CLO) debt tranches rated in the upper-middle credit spectrum. CLOZ focuses on BBB-to-B rated CLO securities and launched in January 2023; JBBB targets B- to BBB+ tranches with explicit floating-rate positioning and has been operating since January 2022. The key distinction is that JBBB emphasizes floating-rate CLO debt to mitigate interest rate sensitivity, while CLOZ takes a broader approach across the BBB-B range without that specific duration hedge.

How they differ

JBBB's floating-rate strategy is its primary differentiator. Second, JBBB is larger and more established—$1.49B in assets under management versus $802M for CLOZ—with a 4 years-year track record compared to CLOZ's 3 years years. Third, CLOZ offers a modestly higher distribution rate of 6.81% against 6.08%, though this reflects both underlying CLO yield differences and CLOZ's slightly lower expense ratio (0.50% versus 0.47%). Both trade monthly distributions and serve the same asset class, but their risk profiles diverge around duration and interest rate sensitivity.

Who each is best for

  • CLOZ: Fits investors seeking maximum current income from CLO debt who have moderate confidence that rates will hold steady or decline, and who are comfortable with a newer fund's shorter operational history.
  • JBBB: Fits investors prioritizing protection against rising rate environments through floating-rate exposure and who favor a larger, longer-established fund with a track record spanning multiple market cycles.

Key risks to know

  • Interest rate sensitivity. CLOZ's exposure to fixed-rate CLO tranches introduces duration risk if rates rise; JBBB's floating-rate orientation reduces this risk but does not eliminate it if CLO spreads widen.
  • CLO underlying credit risk. Both funds depend on the credit quality of loan portfolios held inside the CLO structures they own. Deterioration in those underlying corporate loans can impair CLO tranche valuations and distributions, especially in recession scenarios.
  • Basis and liquidity risk. CLO debt is less liquid than corporate bonds or investment-grade securitized products. Wide bid-ask spreads and market stress can impair an ETF's ability to deploy or redeem shares at fair value, and CLO-specific liquidity events may cause tracking error relative to underlying holdings.
  • NAV sensitivity to spread widening. CLO secondary market valuations are highly sensitive to credit spreads. A flight-to-quality event or CLO-market specific stress could compress prices rapidly, with JBBB's larger asset base offering marginally better liquidity in such episodes.

Bottom line

If you prioritize maximum yield and can tolerate interest rate risk in a newer fund, CLOZ's 6.81% and lower fees appeal. If you prefer floating-rate insulation against rising rates and favor a longer-seasoned fund with a larger liquidity cushion, JBBB's structure and 4 years-year history offer a trade-off worth evaluating. Both carry CLO-specific credit and liquidity risks; past performance doesn't guarantee future distributions.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

Bond fund basics How to read a fund's stats Why total return beats chasing yield

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