Data as of Oct 28, 2026.
JAAA vs VPU: Differences, Returns & Fees
Over the year to Oct 28, 2026, JAAA returned +4.7% to VPU's −3.3%; 0% of their weight is in the same names.
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Net assets: $32.5bn on Oct 28, 2026 for Janus Henderson AAA CLO ETF, and $7.7bn on Sep 30, 2026 for Vanguard Utilities ETF.
Pair scorecard
VPU costs 0.11 points a year less; their one-year returns differ by 8.0 points.
| Measure | JAAA | VPU |
|---|---|---|
| Return | ||
| Total return, 1 year | +4.7% | −3.3% |
| Drawdown | ||
| Below its high | 8.9%, high on Feb 27, 2026 | |
| Benchmark | ||
| What it tracks | No index, actively managed | MSCI US Investable Market Index (IMI)/Utilities 25/50 |
| Cost and size | ||
| Expense ratio | 0.20% | 0.09% |
| Net assets, JAAA as of Oct 28, 2026 and VPU as of Sep 30, 2026 | $32.5bn | $7.7bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 90% | |
| Top ten holdings, share of the fund | 52.3% | |
Holdings in common uses holdings dated Jul 31, 2026 and Sep 30, 2026. Method
Risk and return
Oct 30, 2020 to Oct 23, 2026 · 312 weekly returnsVPU returned more: +63.4% to +31.1%. JAAA swung less: 1.3% to 16.6%. JAAA fell less at its worst: −2.5% to −23.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | JAAA | VPU | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +31.1% | +63.4% | VPU | Price change plus distributions, reinvested. |
| Annualized | +4.6% | +8.5% | VPU | Total return as a yearly rate. |
| Price return | +1.6% | +35.9% | VPU | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 1.3% | 16.6% | JAAA | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 1.0% | 11.6% | JAAA | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −2.5% | −23.5% | JAAA | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.93 | 0.38 | JAAA | Return above Treasury bills per unit of volatility. |
| Sortino | 1.24 | 0.54 | JAAA | Return above Treasury bills per unit of downside deviation. |
| Calmar | 1.82 | 0.36 | 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, JAAA and VPU hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Sep 30, 2026.
half
0% in common
Only in one fund ↓
Side by side
JAAA and VPU on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
JAAA and VPU do different jobs. What does each one do in a portfolio?
- What each follows. JAAA follows No index, actively managed and VPU follows MSCI US Investable Market Index (IMI)/Utilities 25/50.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Jul 31, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 JAAA returned +4.7% and VPU −3.3% with distributions reinvested, a gap of 8.0 points.
Data as of Oct 28, 2026.
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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.
VPU
VPU tracks an index of Utilities. Over the year to Oct 28, 2026 it returned −3.3% with distributions reinvested, against −3.3% for its benchmark, the MSCI US Investable Market Index (IMI)/Utilities 25/50. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer as of Sep 30, 2026, 90% of the fund by weight is stocks the S&P 500 also holds, across 70 positions, with the top ten at 52.3%. It sat 8.9% below its high of Feb 27, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, JAAA or VPU?
- In the year to Oct 28, 2026, with distributions reinvested, JAAA returned +4.7% and VPU −3.3%.
- Which is cheaper, JAAA or VPU?
- VPU is cheaper, by 0.11 percentage points a year. That is about $11 on $10,000 held for a year. Fees come from each fund's prospectus.
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 VPU, data as of Oct 28, 2026. https://etfiq.com/compare/any/jaaa-vs-vpu
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