Janus Henderson Investors has launched the Janus Henderson AA-A CLO ETF, expanding its active fixed-income ETF lineup in the securitized markets segment. The new fund debuted with $100 million in seed capital from The Guardian Life Insurance Company of America as part of the companies’ previously announced strategic partnership.
The ETF is designed to provide investors with access to high-quality collateralized loan obligations rated between AA and A. According to the firm, the strategy aims to offer diversification benefits, supported by historically low daily volatility and low correlation with traditional fixed-income markets. The launch builds on Janus Henderson’s existing CLO ETF franchise and broader leadership in securitized products globally.
JA will be managed by John Kerschner, CFA, and Nick Childs, CFA, who have longstanding experience in securitized markets and have managed several of the firm’s CLO and securitized ETFs together. Jessica Shill, who also serves as a portfolio manager on JAAA and JBBB, has joined the portfolio management team for the new fund.
The new ETF is positioned between Janus Henderson’s JAAA and JBBB products, targeting A-rated CLO exposure that sits between AAA and BBB profiles in terms of both potential return and risk. As of January 30, 2026, yield to worst for A-rated CLOs stood at 5.1%, compared to 4.5% for AAA and 6.2% for BBB CLOs, according to JPMorgan data cited by the company.
The launch coincides with the ten-year anniversary of Janus Henderson’s ETF business and the founding of the Janus Detroit Street Trust, which holds the firm’s ETF suite. As of December 31, 2025, the trust had grown to nearly $38 billion in assets under management across 15 active ETFs. Firmwide securitized assets total approximately $65 billion, and the company ranks as the third largest active fixed income ETF provider globally based on Bloomberg data.
Janus Henderson’s active securitized ETF lineup includes JAAA, JBBB, JMBS, JABS, and JSI. The firm reported approximately $493 billion in total assets under management as of December 31, 2025.
The Janus Henderson AA-A CLO ETF seeks to preserve capital and provide current income. The company noted that investing in CLOs involves risks, including credit, liquidity, interest rate, call, and default risks associated with underlying below investment-grade corporate loans. As with all investments, there is no guarantee that the fund’s objectives will be achieved.
KEY QUOTES
“Securitized markets are proving to be a bright spot for investors right now—offering competitive yields and diversification. JA seeks to allow investors to position portfolios for resilience and growth in an evolving economic landscape. Given the strong demand for Janus Henderson’s leading CLO ETFs, we’re excited to offer clients access to another segment of the CLO market.”
John Kerschner, Global Head of Securitized Products and Portfolio Manager, Janus Henderson
