The folks at a $379-billion-AUM (as of December 31), publicly traded, multinational asset manager are celebrating a big milestone a fund that's not yet five years old.

Today, Nick Cherney, head of innovation at Janus Henderson Investors [profile], and Michael Schweitzer, head of North America client group, highlight that the Janus Henderson AAA CLO ETF (JAAA on the NYSE Arca, Inc.) has surpassed $20 billion in AUM. As of yesterday (February 5, 2025), JAAA held $20.22 billion, a $10.04-billion (98.6 percent) increase in 239 days (less than eight months). The AUM milestone comes after JAAA added $11.3 billion in AUM in 2024 for a whopping 213.2-percent growth rate.

The Janus Henderson team lays claim to JAAA being the largest CLO ETF out there and the top year-to-date 2025 active ETF inflows winner.

JAAA's inception date was October 16, 2020. The fund comes with an expense ratio of 21 basis points (which bakes in a 1bps fee waiver promised through February 28, 2025, i.e. the end of this month).

Janus Henderson Investors US LLC serves as investment advisor and administrator to JAAA. The ETF's PM includes: Nick Childs, co-portfolio manager since JAAA's inception; John Kerschner, head of U.S. securitized products and co-PM since the fund's inception; and Jessica Shill, co-PM since January 2023.

Kerschner highlights "continued interest in [Janus Henderson'] CLO ETFs across retail, intermediary, and institutional clients."

"JAAA has demonstrated its benefits including diversification, attractive floating-rate yield, high credit quality, and liquidity through various market events, which have helped contribute to the growth of the asset class," Kerschner states.

"JAAA has enabled the addition of this important asset class to a whole range of portfolios which historically were unable to benefit from the compelling attributes of CLO allocations in a robust fixed income portfolio," Cherney states.

Schweitzer puts JAAA's growth in the context of the Janus Henderson team's believe that "investors should maintain diversification within their fixed income portfolios throughout the interest rate cycle."

"Therefore, in our view, an allocation to short duration fixed income remains highly relevant in the current environment, particularly considering how attractive short-term yields are," Schweitzer states.

JAAA is an actively managed series of the Janus Detroit Street Trust. The ETF's other service providers include: SS&C's Alps Distributors, Inc. as distributor; JPMorgan Chase Bank, N.A. as custodian, securities lending agent, sub-administrator, and transfer agent; and PricewaterhouseCoopers LLP as independent accounting firm. 

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