Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
JAAA vs QUAL: how they differ
JAAA and QUAL hold 0% of their weight in the same names, and QUAL returned more over the year.
Janus Henderson AAA CLO ETF and iShares MSCI USA Quality Factor ETF.
What they hold in common
By the books each fund has filed, JAAA and QUAL hold 0% of their money in the same securities at the same weight.
| Only in JAAA | Only in QUAL |
|---|---|
| KKR CLO 35 Ltd. 0.96% | NVIDIA CORPORATION 6.52% |
| AB BSL CLO 1 Ltd. 0.88% | APPLE INC. 6.28% |
| Anchorage Capital CLO 16 Ltd. 0.82% | MICROSOFT CORPORATION 5.05% |
| Anchorage Capital CLO 17 Ltd. 0.80% | META PLATFORMS, INC. 3.50% |
| Carlyle US CLO Ltd. 0.70% | LAM RESEARCH CORPORATION 3.23% |
| Carlyle US CLO Ltd. 0.67% | THE TJX COMPANIES, INC. 3.19% |
| Regatta XIX Funding Ltd. 0.67% | VISA INC. 3.09% |
| Magnetite XXXII Ltd. 0.67% | ELI LILLY AND COMPANY 2.92% |
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.
| JAAA Janus Henderson AAA CLO ETF | QUAL iShares MSCI USA Quality Factor ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | Janus | iShares |
| What it is | Henderson AAA CLO | MSCI USA Quality Factor |
| Total return, 1 year | +4.9% | +16.0% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −12.6 pts | −1.5 pts |
| Expense ratio | 0.20% | 0.15% |
| Already in the S&P 500 | 0.0% | 98.9% |
| Holdings | 600 | 121 |
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%.
QUAL in plain words
QUAL is an index equity fund tracking the MSCI USA Quality Factor. Over the year to Sep 11, 2026 it returned +16.0% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.15% a year. By its holdings filed for Apr 30, 2026, 99% of the fund by weight is stocks the S&P 500 also holds, across 121 positions, with the top ten at 39.1%. It sat 3.1% below its high of Aug 13, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, JAAA or QUAL?
- In the year to Sep 12, 2026, with distributions reinvested, JAAA returned +4.9% and QUAL returned +16.0%, so QUAL returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, JAAA or QUAL?
- JAAA charges 0.20% a year and QUAL charges 0.15%, so QUAL is cheaper. Fees come from each fund's prospectus.
- How much do JAAA and QUAL overlap with the S&P 500?
- By their latest filed holdings, 0% of JAAA and 99% of QUAL 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.
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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, JAAA against QUAL, data as of Sep 12, 2026. https://etfiq.com/compare/any/JAAA-QUAL Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources