Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
IALT vs JAAA: how they differ
IALT and JAAA hold 0% of their weight in the same names.
iShares Systematic Alternatives Active ETF and Janus Henderson AAA CLO ETF.
What they hold in common
By the books each fund has filed, IALT and JAAA hold 0% of their money in the same securities at the same weight.
| Only in IALT | Only in JAAA |
|---|---|
| Intercontinental Exchange, Inc. 17.26% | KKR CLO 35 Ltd. 0.96% |
| PRIME SECSRVC BRW/FINANC 1.29% | AB BSL CLO 1 Ltd. 0.88% |
| PHINIA INC 0.94% | Anchorage Capital CLO 16 Ltd. 0.82% |
| DISH DBS CORP 0.21% | Anchorage Capital CLO 17 Ltd. 0.80% |
| DISH DBS CORP 0.19% | Carlyle US CLO Ltd. 0.70% |
| DISH DBS CORP 0.10% | Carlyle US CLO Ltd. 0.67% |
| Regatta XIX Funding Ltd. 0.67% | |
| Magnetite XXXII Ltd. 0.67% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026.
| IALT iShares Systematic Alternatives Active ETF | JAAA Janus Henderson AAA CLO ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | Janus |
| What it is | Systematic Alternatives Active | Henderson AAA CLO |
| Total return, 1 year | +17.4% | +4.9% |
| S&P 500 over the same days | +12.1% | +17.5% |
| Gap to the S&P 500 | +5.4 pts | −12.6 pts |
| Expense ratio | not published | 0.20% |
| Already in the S&P 500 | 54.9% | 0.0% |
| Holdings | 8 | 600 |
IALT in plain words
IALT is an index equity fund tracking the Systematic Alternatives Active. By its holdings filed for Apr 30, 2026, 55% of the fund by weight is stocks the S&P 500 also holds, across 8 positions, with the top ten at 100.0%.
JAAA in plain words
JAAA is an index equity fund tracking the Henderson AAA CLO. Over the year to Sep 11, 2026 it returned +4.9% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.20% a year. By its holdings filed for Apr 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 600 positions, with the top ten at 7.5%.
Questions people ask
- How much do IALT and JAAA overlap with the S&P 500?
- By their latest filed holdings, 55% of IALT and 0% of JAAA by weight is stocks the S&P 500 already holds. Between the two funds, 0% of their books are the same securities at the same weight.
Other comparisons
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, IALT against JAAA, data as of Sep 12, 2026. https://etfiq.com/compare/any/IALT-JAAA Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources