GBIL vs. VNLA
GBIL (Goldman Sachs Access Treasury 0-1 Year ETF) and VNLA (Janus Henderson Short Duration Income ETF) are both exchange-traded funds - GBIL is a Government Bonds fund tracking the FTSE US Treasury 0-1 Year Composite Select Index, while VNLA is a Ultrashort Bond fund tracking the FTSE 3-Month U.S. Treasury Bill Index. Both are passively managed. Over the past 5 years, GBIL returned 3.33%/yr vs 3.80%/yr for VNLA. At a 0.21 correlation, their price movements are largely independent. GBIL charges 0.12%/yr vs 0.23%/yr for VNLA.
Performance
GBIL vs. VNLA - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with GBIL at 1.47% and VNLA at 1.47%.
GBIL
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 1.47%
- 6M
- 1.74%
- 1Y
- 3.90%
- 3Y*
- 4.62%
- 5Y*
- 3.33%
- 10Y*
- —
VNLA
- 1D
- 0.00%
- 1M
- 0.28%
- YTD
- 1.47%
- 6M
- 1.85%
- 1Y
- 4.77%
- 3Y*
- 5.75%
- 5Y*
- 3.80%
- 10Y*
- —
GBIL vs. VNLA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 1.47% | 4.12% | 5.24% | 4.91% | 1.05% | -0.08% | 0.79% | 2.31% | 1.78% | 0.69% |
VNLA Janus Henderson Short Duration Income ETF | 1.47% | 5.45% | 6.41% | 6.09% | -0.17% | -0.18% | 3.01% | 4.43% | 0.02% | 2.11% |
Correlation
The correlation between GBIL and VNLA is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2016 | 0.21 |
The correlation between GBIL and VNLA shifts across timeframes, from 0.21 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GBIL vs. VNLA — Risk / Return Rank
GBIL
VNLA
GBIL vs. VNLA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) and Janus Henderson Short Duration Income ETF (VNLA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| GBIL | VNLA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +9.46 | ||
| Sortino ratioReturn per unit of downside risk | +90.85 | ||
| Omega ratioGain probability vs. loss probability | 43.59 | 3.62 | +39.97 |
| Calmar ratioReturn relative to maximum drawdown | 195.91 | 11.20 | +184.71 |
| Martin ratioReturn relative to average drawdown | 1,660.91 | 57.58 | +1,603.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GBIL | VNLA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 17.06 | 7.60 | +9.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 5.79 | 3.67 | +2.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.88 | 2.10 | +2.78 |
Drawdowns
GBIL vs. VNLA - Drawdown Comparison
The maximum GBIL drawdown since its inception was -0.76%, smaller than the maximum VNLA drawdown of -4.49%. Use the drawdown chart below to compare losses from any high point for GBIL and VNLA.
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Drawdown Indicators
| GBIL | VNLA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.76% | -4.49% | +3.73% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -0.43% | +0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -0.76% | -0.49% | -0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -0.76% | -1.76% | +1.00% |
Current DrawdownCurrent decline from peak | 0.00% | -0.02% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -0.04% | -0.23% | +0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.08% | -0.08% |
Volatility
GBIL vs. VNLA - Volatility Comparison
The current volatility for Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) is 0.04%, while Janus Henderson Short Duration Income ETF (VNLA) has a volatility of 0.16%. This indicates that GBIL experiences smaller price fluctuations and is considered to be less risky than VNLA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBIL | VNLA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.04% | 0.16% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 0.14% | 0.46% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.23% | 0.63% | -0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 1.04% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.47% | 1.42% | -0.95% |
GBIL vs. VNLA - Expense Ratio Comparison
GBIL has a 0.12% expense ratio, which is lower than VNLA's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GBIL vs. VNLA - Dividend Comparison
GBIL's dividend yield for the trailing twelve months is around 3.74%, less than VNLA's 4.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 3.74% | 4.02% | 4.93% | 4.77% | 1.37% | 0.00% | 0.81% | 2.20% | 1.70% | 0.74% | 0.11% |
VNLA Janus Henderson Short Duration Income ETF | 4.78% | 4.84% | 4.97% | 3.95% | 4.35% | 1.67% | 1.21% | 3.13% | 2.43% | 1.79% | 0.08% |
Frequently Asked Questions
GBIL and VNLA have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNLA has higher volatility (0.16%) compared to GBIL (0.04%). In terms of maximum drawdown, GBIL dropped -0.76% vs VNLA's -4.49%.
On 5-year performance, VNLA leads with 3.80% vs 3.33% for GBIL. On fees, GBIL is cheaper at 0.12% per year. On volatility, GBIL has been the lower-risk option at 0.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VNLA has performed better with a 3.80% return vs 3.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GBIL is cheaper with a 0.12% expense ratio, compared with 0.23% for VNLA.
VNLA has the higher dividend yield at 4.78%, compared with 3.74% for GBIL.
GBIL is categorized as Government Bonds, while VNLA is Ultrashort Bond. GBIL tracks FTSE US Treasury 0-1 Year Composite Select Index, while VNLA tracks FTSE 3-Month U.S. Treasury Bill Index. They also come from different issuers: Goldman Sachs and Janus Henderson. Their fees differ too: 0.12% for GBIL and 0.23% for VNLA.
GBIL currently has the higher Sharpe Ratio (17.06 vs 7.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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