The Janus Henderson B-BBB CLO ETF (BATS:BATS:JBBB) invests in CLO tranches of senior secured loans, currently focusing on BBB tranches. Simplifying things, JAAA invests in bundles of bank loans to companies, and these investments are structured so as to have below-average credit risk. JBBB receives income from these bundles of loans, currently yields 8.1%, and has seen strong dividend growth in the recent past. JBBB's overall risk-return profile seems very compelling, with the fund offering investors the yield of a high-yield corporate bond, with the credit risk of an investment-grade bond.