JAAA vs PULS: Holdings Overlap
JAAAJanus Henderson AAA CLO ETF
Janus Henderson · 600 holdings · $29.2B · as of 2026-04-30
PGIM · 553 holdings · $18.3B · as of 2026-05-29
How similar are JAAA and PULS?
Janus Henderson AAA CLO ETF (JAAA, by Janus Henderson) holds 600 positions; PGIM Ultra Short Bond ETF (PULS, by PGIM) holds 553. They have 4 holdings in common, and by portfolio weight the two funds are 0.7% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 0.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 4JAAA holds 600 · PULS holds 553
- Weight in Shared Holdings
- JAAA 1%·PULS 1%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in JAAA
596 of 600 positions (96.0% of the fund) are not held by PULS. Showing the top 30 by weight.
- KKR CLO 35 Ltd., Series 35A, Class AR0.93%
- AB BSL CLO 1 Ltd., Series 2020-1A, Class A1R20.85%
- Anchorage Capital CLO 16 Ltd., Series 2020-16A, Class A1R20.79%
- Anchorage Capital CLO 17 Ltd., Series 2021-17A, Class A1R0.77%
- Carlyle US CLO Ltd., Series 2021-8A, Class A1R0.68%
- Regatta XIX Funding Ltd., Series 2022-1A, Class A1R0.65%
Only in PULS
549 of 553 positions (75.2% of the fund) are not held by JAAA. Showing the top 30 by weight.
- PGIM AAA CLO ETF1.81%
- GLENCORE FUNDING LLC 0% CP 17/06/20260.74%
- Alexandria Real Estate Equities, Inc. 0% CP 01/06/20260.66%
- ABNANV 4.718 01/22/27 144A0.57%
- BX 2022-LBA6 A0.51%
- Federation des Caisses Desjardins du Quebec0.51%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| JAAA | +0.4% | +2.7% | +4.9% | +6.0% | +4.8% | — | 4.92% |
| PULS | +0.0% | +2.1% | +4.1% | +5.3% | +4.2% | — | 4.12% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in JAAA vs PULS →
Shared Holdings(4)
The top 4 shared positions account for 100% of the overlap, led by Ares LXV CLO Ltd., Series 2022-65A, Class A1R, Wellfleet CLO Ltd., Series 2021-3A, Class AR and Allegany Park CLO Ltd., Series 2019-1A, Class ARR.
| Ares LXV CLO Ltd., Series 2022-65A, Class A1R | 0.26% | 0.31% | 0.26% |
|---|---|---|---|
| Wellfleet CLO Ltd., Series 2021-3A, Class AR | 0.22% | 0.25% | 0.22% |
| Allegany Park CLO Ltd., Series 2019-1A, Class ARR | 0.10% | 0.12% | 0.10% |
| Whitebox CLO III Ltd., Series 2021-3A, Class A1R | 0.07% | 0.10% | 0.07% |
Frequently Asked Questions
How much do JAAA and PULS overlap?
JAAA and PULS overlap by 0.7% of portfolio weight. They share 4 holdings (JAAA holds 600 positions and PULS holds 553), based on each fund's latest SEC-reported holdings.
Is it redundant to own both JAAA and PULS?
The two portfolios are 0.7% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of JAAA and PULS?
The largest positions held by both funds are Ares LXV CLO Ltd., Series 2022-65A, Class A1R, Wellfleet CLO Ltd., Series 2021-3A, Class AR, Allegany Park CLO Ltd., Series 2019-1A, Class ARR and Whitebox CLO III Ltd., Series 2021-3A, Class A1R. Together the top 4 shared positions account for 100% of the total overlap.
What does JAAA own that PULS doesn't?
596 positions (96.0% of JAAA) are unique to JAAA, led by KKR CLO 35 Ltd., Series 35A, Class AR, AB BSL CLO 1 Ltd., Series 2020-1A, Class A1R2 and Anchorage Capital CLO 16 Ltd., Series 2020-16A, Class A1R2. In the other direction, 549 positions (75.2% of PULS) are unique to PULS.