Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
JAAA vs USMV: how they differ
JAAA and USMV hold 0% of their weight in the same names, and USMV returned more over the year.
Janus Henderson AAA CLO ETF and iShares MSCI USA Min Vol Factor ETF.
What they hold in common
By the books each fund has filed, JAAA and USMV hold 0% of their money in the same securities at the same weight.
| Only in JAAA | Only in USMV |
|---|---|
| KKR CLO 35 Ltd. 0.96% | CISCO SYSTEMS, INC. 1.81% |
| AB BSL CLO 1 Ltd. 0.88% | NVIDIA CORPORATION 1.64% |
| Anchorage Capital CLO 16 Ltd. 0.82% | EXXON MOBIL CORPORATION 1.60% |
| Anchorage Capital CLO 17 Ltd. 0.80% | MICROSOFT CORPORATION 1.56% |
| Carlyle US CLO Ltd. 0.70% | DUKE ENERGY CORPORATION 1.55% |
| Carlyle US CLO Ltd. 0.67% | THE SOUTHERN COMPANY 1.53% |
| Regatta XIX Funding Ltd. 0.67% | AMPHENOL CORPORATION 1.51% |
| Magnetite XXXII Ltd. 0.67% | Chubb Limited 1.50% |
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 | USMV iShares MSCI USA Min Vol Factor ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | Janus | iShares |
| What it is | Henderson AAA CLO | MSCI USA Min Vol Factor |
| Total return, 1 year | +4.9% | +6.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | −12.6 pts | −10.9 pts |
| Expense ratio | 0.20% | 0.15% |
| Already in the S&P 500 | 0.0% | 94.8% |
| Holdings | 600 | 170 |
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%.
USMV in plain words
USMV is an index equity fund tracking the MSCI USA Min Vol Factor. Over the year to Sep 11, 2026 it returned +6.6% 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, 95% of the fund by weight is stocks the S&P 500 also holds, across 170 positions, with the top ten at 15.7%.
Questions people ask
- Which returned more over the last year, JAAA or USMV?
- In the year to Sep 12, 2026, with distributions reinvested, JAAA returned +4.9% and USMV returned +6.6%, so USMV returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, JAAA or USMV?
- JAAA charges 0.20% a year and USMV charges 0.15%, so USMV is cheaper. Fees come from each fund's prospectus.
- How much do JAAA and USMV overlap with the S&P 500?
- By their latest filed holdings, 0% of JAAA and 95% of USMV 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 USMV, data as of Sep 12, 2026. https://etfiq.com/compare/any/JAAA-USMV Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources