Which returned more over the last year, GOVT or JAAA?

In the year to Oct 28, 2026, with distributions reinvested, GOVT returned −1.5% and JAAA +4.7%.

Which is cheaper, GOVT or JAAA?

GOVT is cheaper, by 0.15 percentage points a year. That is about $15 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

GOVT vs JAAA: Differences, Returns & Fees

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On Jul 31, 2026 GOVT's duration was 5.5 years and JAAA's 0.0; GOVT charges 0.05% to JAAA's 0.20%.

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Net assets: $42.8bn on Oct 27, 2026 for iShares U.S. Treasury Bond ETF, and $32.5bn on Oct 28, 2026 for Janus Henderson AAA CLO ETF.

GOVT on its own →JAAA on its own →

At a glance

−1.5%

GOVT total return, 1 year

+4.7%

JAAA total return, 1 year

0.05%

GOVT expense ratio

0.20%

JAAA expense ratio

Pair scorecard

GOVT costs 0.15 points a year less; their one-year returns differ by 6.2 points; GOVT is 1.3 times larger.

GOVT vs JAAA: Differences, Returns & Fees
Measure	GOVT	JAAA
Return
Measure	GOVT	JAAA
Total return, 1 year	−1.5%	+4.7%
Drawdown
Measure	GOVT	JAAA
Below its high	8.1%, high on Aug 4, 2020
Benchmark
Measure	GOVT	JAAA
What it tracks	ICE U.S. Treasury Core Bond Index	No index, actively managed
Cost and size
Measure	GOVT	JAAA
Expense ratio	0.05%	0.20%
Net assets, as of Oct 27, 2026	$42.8bn	$32.5bn
Holdings
Measure	GOVT	JAAA
Holdings in common	0%

Holdings in common uses holdings dated Jul 31, 2026. Method

Risk and return

Oct 30, 2020 to Oct 23, 2026 · 312 weekly returns

GOVT JAAA

Return

Total return edge JAAA −5.8% +31.1%

Annualized edge JAAA −1.0% +4.6%

Price return edge JAAA −19.6% +1.6%

Risk

Volatility edge JAAA 5.1% 1.3%

Max drawdown edge JAAA −17.5% −2.5%

Risk-adjusted

Sharpe edge JAAA −0.81 0.93

Sortino edge JAAA −1.06 1.24

Calmar edge JAAA −0.06 1.82

Reading

JAAA returned more: +31.1% to −5.8%. JAAA swung less: 1.3% to 5.1%. JAAA fell less at its worst: −2.5% to −17.5%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: GOVT vs JAAA: Differences, Returns & Fees
Measure	GOVT	JAAA	Edge	How it is measured
Return
Total return	−5.8%	+31.1%	JAAA	Price change plus distributions, reinvested.
Annualized	−1.0%	+4.6%	JAAA	Total return as a yearly rate.
Price return	−19.6%	+1.6%	JAAA	Price change alone, distributions left out.
Risk
Volatility	5.1%	1.3%	JAAA	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	3.9%	1.0%	JAAA	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−17.5%	−2.5%	JAAA	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	−0.81	0.93	JAAA	Return above Treasury bills per unit of volatility.
Sortino	−1.06	1.24	JAAA	Return above Treasury bills per unit of downside deviation.
Calmar	−0.06	1.82	JAAA	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 312 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, GOVT and JAAA hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first GOVT JAAA

Only in one fund ↓

Only in GOVT

U.S. Treasury Notes, due Nov 15, 2031 5.28%

U.S. Treasury Notes, due Feb 15, 2029 2.95%

U.S. Treasury Notes, due Feb 15, 2028 2.63%

U.S. Treasury Notes, due Nov 15, 2028 2.08%

U.S. Treasury Notes, due May 15, 2028 1.62%

U.S. Treasury Bonds, due May 15, 2046 1.48%

U.S. Treasury Bonds, due Nov 15, 2042 1.46%

U.S. Treasury Bonds, due Feb 15, 2051 1.46%

Only in JAAA

KKR CLO 35 Ltd., Series 35A, Class AR, due Jan 20, 2038 0.85%

AB BSL CLO 1 Ltd., Series 2020-1A, Class A1R2, due Oct 15, 2038 0.78%

Anchorage Capital CLO 16 Ltd., Series 2020-16A, Class A1R2, due Jan 19, 2038 0.73%

Palmer Square CLO Ltd., Series 2018-2A, Class A1R2, due Apr 16, 2037 0.68%

Ares LXI CLO Ltd., Series 2021-61A, Class A1R2, due Apr 20, 2037 0.68%

Carlyle US CLO Ltd., Series 2021-8A, Class A1R, due Oct 15, 2038 0.62%

WISE CLO Ltd., Series 2024-1A, Class AR, due Apr 15, 2037 0.62%

Magnetite XXXII Ltd., Series 2022-32A, Class AR, due Oct 15, 2037 0.60%

Check overlap with more funds →

Side by side

GOVT iShares U.S. Treasury Bond ETF JAAA Janus Henderson AAA CLO ETF

Where it sits Bond ETF Bond ETF

Issuer iShares Janus Henderson

What it is Tracks an index of U.S. Treasury Bond Actively managed

Total return, 1 year −1.5% +4.7%

Expense ratio 0.05% 0.20%

Holdings 229 598

Net assets, GOVT as of Oct 27, 2026 and JAAA as of Oct 28, 2026 $42.8bn $32.5bn

GOVT and JAAA on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-47DE4B236D

GOVT and JAAA do different jobs. What does each one do in a portfolio?

What each follows. GOVT follows ICE U.S. Treasury Core Bond Index and JAAA follows No index, actively managed.
Holdings in common. 0% of the weight is in the same securities (holdings dated Jul 31, 2026).
One-year total return. Over 1 year to Oct 28, 2026 GOVT returned −1.5% and JAAA +4.7% with distributions reinvested, a gap of 6.2 points.

Data as of Oct 28, 2026.

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About each fund

GOVT

GOVT tracks an index of U.S. Treasury Bond. Over the year to Oct 28, 2026 it returned −1.5% with distributions reinvested. The prospectus expense ratio is 0.05% a year. It sat 8.1% below its high of Aug 4, 2020 on Oct 28, 2026.

JAAA

JAAA is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +4.7% with distributions reinvested. The prospectus expense ratio is 0.20% a year.

Questions people ask

Which returned more over the last year, GOVT or JAAA?: In the year to Oct 28, 2026, with distributions reinvested, GOVT returned −1.5% and JAAA +4.7%.
Which is cheaper, GOVT or JAAA?: GOVT is cheaper, by 0.15 percentage points a year. That is about $15 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

GOVT vs SHY GOVT vs USHY GOVT vs IGSB GOVT vs IUSB IEF vs JAAA JAAA vs VGIT JAAA vs JPST JAAA vs MBB

Where to next

GOVT on its own →JAAA on its own →Hold both: look the portfolio through →Rankings →GOVT dividend history →GOVT holdings →JAAA dividend history →JAAA holdings →Standards and sources →

Sources and dates

GOVT filings on SEC EDGAR ↗

GOVT prospectus with the expense ratio (SEC) ↗

iShares page for GOVT ↗

JAAA filings on SEC EDGAR ↗

JAAA prospectus with the expense ratio (SEC) ↗

Janus Henderson page for JAAA ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, GOVT against JAAA, data as of Oct 28, 2026. https://etfiq.com/compare/any/govt-vs-jaaa

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.