Janus Henderson B-BBB CLO ETF

The mezzanine tier of structured credit is where JBBB operates. A CLO bundles hundreds of corporate loans and slices the cash flows into tranches by risk, and this fund buys the mezzanine slices, those rated roughly BBB down to B. That is a step below the safest AAA tranches that Janus Henderson's larger JAAA fund targets, so investors take on more credit risk in exchange for higher yield. The loans underneath float with short-term rates, which means the fund's income rises when rates rise and it carries little of the interest-rate duration that hurt traditional bond funds in 2022. It is actively managed, with the team choosing individual CLO tranches rather than tracking an index. The fund launched in January 2022 and appeals to income investors comfortable with structured credit who want floating-rate exposure and are reaching for extra yield below AAA.

On MyRWA, JBBB trades tokenized across 1 on-chain venue - see the listings below.