Janus Henderson's JAAA continues strong inflows, absorbing $2.7bn year-to-date after $7.8bn in 2025, pushing assets over $27bn. John Kerschner, Global Head of Securitized Products & Portfolio Manager at Janus Henderson attributes demand to growing institutional adoption seeking low-volatility, floating-rate exposure with enhanced yield. Moving down the capital stack to AA-rated CLOs from AAA picks up 50-60 basis points currently, potentially 100 over a cycle, appealing to institutions comfortable with incremental volatility.

Model portfolios, controlling about 22% of ETF assets and rising, likely contribute, but institutional interest drives persistence. The floating-rate structure and low-vol profile suit broader fixed-income needs amid rate dynamics.

Continued flows reflect JAAA's role as a yield-enhancing diversifier in a crowded income landscape.

Source: Video - Janus' New CLO ETF Starts with $100M Seed