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Data as of Oct 28, 2026.

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JAAA vs MBB: Differences, Returns & Fees

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JAAA's duration was 0.0 years on Jul 31, 2026 and MBB's 5.7 on Aug 31, 2026; MBB charges 0.04% to JAAA's 0.20%.

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Net assets on Oct 28, 2026: $32.5bn for Janus Henderson AAA CLO ETF and $35.5bn for iShares MBS ETF.

JAAA on its own →MBB on its own →
At a glance
+4.7%
JAAA total return, 1 year
−0.8%
MBB total return, 1 year
0.20%
JAAA expense ratio
0.04%
MBB expense ratio

Pair scorecard

MBB costs 0.16 points a year less; their one-year returns differ by 5.5 points; MBB is 1.1 times larger.

JAAA vs MBB: Differences, Returns & Fees
MeasureJAAAMBB
Return
Total return, 1 year+4.7%−0.8%
Benchmark
What it tracksNo index, actively managedBloomberg U.S. MBS Index
Cost and size
Expense ratio0.20%0.04%
Net assets$32.5bn$35.5bn
Holdings
Holdings in common0%

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

What they share

0%

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

0 half 100%

half

0% in common

Positions both hold · largest shared weight first JAAA MBB
Only in one fund ↓
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%
Only in MBB
Ginnie Mae, due Sep 1, 2056 1.05%
Freddie Mac Pool, due May 1, 2051 0.98%
Uniform Mortgage-Backed Security, TBA, due Sep 1, 2056 0.85%
Uniform Mortgage-Backed Security, TBA, due Sep 1, 2056 0.70%
Ginnie Mae, due Sep 1, 2056 0.53%
Ginnie Mae II Pool, due Nov 20, 2054 0.51%
Ginnie Mae II Pool, due Oct 20, 2051 0.51%
Ginnie Mae II Pool, due Dec 20, 2051 0.50%
Check overlap with more funds →

Side by side

JAAA Janus Henderson AAA CLO ETF MBB iShares MBS ETF
Where it sits Bond ETF Bond ETF
Issuer Janus Henderson iShares
What it is Actively managed Tracks an index of mortgage-backed securities
Total return, 1 year +4.7% −0.8%
Its benchmark over the same days not measured −1.1% (SPMB)
Gap to its benchmark not measured +0.3 pts vs SPMB
Expense ratio 0.20% 0.04%
Holdings 598 10813
Net assets $32.5bn $35.5bn

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

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About each fund
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.

MBB

MBB tracks an index of mortgage-backed securities. Over the year to Oct 28, 2026 it returned −0.8% with distributions reinvested, against −1.1% for its benchmark, the Bloomberg U.S. MBS Index. The prospectus expense ratio is 0.04% a year.

Questions people ask

Which returned more over the last year, JAAA or MBB?
In the year to Oct 28, 2026, with distributions reinvested, JAAA returned +4.7% and MBB −0.8%.
Which is cheaper, JAAA or MBB?
MBB is cheaper, by 0.16 percentage points a year. That is about $16 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
JAAA vs VGSHJAAA vs VGITJAAA vs LQDJAAA vs JPSTMBB vs VMBSMBB vs PFFMBB vs SGOVMBB vs SPMB
Where to next
JAAA on its own →MBB on its own →Hold both: look the portfolio through →Rankings →JAAA dividend history →JAAA holdings →MBB dividend history →MBB holdings →Standards and sources →
Sources and dates
JAAA filings on SEC EDGAR ↗
JAAA prospectus with the expense ratio (SEC) ↗
Janus Henderson page for JAAA ↗
MBB filings on SEC EDGAR ↗
MBB prospectus with the expense ratio (SEC) ↗
iShares page for MBB ↗

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.

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

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