HFAAX vs. VTIIX

Last updated Aug 5, 2026

HFAAX (Janus Henderson Developed World Bond Fund) and VTIIX (Vanguard Total International Bond II Index Fund Investor Class) are both Global Bonds funds. Over the past 5 years, HFAAX returned -1.32%/yr vs -0.13%/yr for VTIIX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. HFAAX charges 0.83%/yr vs 0.11%/yr for VTIIX.

Performance

HFAAX vs. VTIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Developed World Bond Fund (HFAAX) and Vanguard Total International Bond II Index Fund Investor Class (VTIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HFAAX achieves a 0.10% return, which is significantly lower than VTIIX's 0.33% return.

HFAAX

• 1D: 0.26%
• 1M: -0.95%
• 6M: -0.21%
• YTD: 0.10%
• 1Y: 2.56%
• 3Y*: 4.37%
• 5Y*: -1.32%
• 10Y*: 1.82%
• ALL TIME*: 3.34%

VTIIX

• 1D: 0.25%
• 1M: -0.67%
• 6M: 0.00%
• YTD: 0.33%
• 1Y: 1.02%
• 3Y*: 4.09%
• 5Y*: -0.13%
• 10Y*: —
• ALL TIME*: 0.16%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HFAAX Janus Henderson Developed World Bond Fund	$0.00	$0.00	$0.00
VTIIX Vanguard Total International Bond II Index Fund Investor Class	$0.00	$0.00	$0.00

HFAAX vs. VTIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HFAAX Janus Henderson Developed World Bond Fund	0.10%	5.75%	1.52%	6.35%	-16.76%	0.97%
VTIIX Vanguard Total International Bond II Index Fund Investor Class	0.33%	2.95%	3.82%	8.72%	-13.03%	-0.52%

Correlation

The correlation between HFAAX and VTIIX is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (All Time) Calculated using the full available price history since Mar 2, 2021	0.80

The correlation between HFAAX and VTIIX has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.

Return for Risk

HFAAX vs. VTIIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HFAAX

HFAAX Risk / Return Rank: 29
HFAAX Sharpe Ratio Rank: 29
HFAAX Sortino Ratio Rank: 29
HFAAX Omega Ratio Rank: 35
HFAAX Calmar Ratio Rank: 24
HFAAX Martin Ratio Rank: 26

VTIIX

VTIIX Risk / Return Rank: 8
VTIIX Sharpe Ratio Rank: 9
VTIIX Sortino Ratio Rank: 8
VTIIX Omega Ratio Rank: 8
VTIIX Calmar Ratio Rank: 8
VTIIX Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HFAAX vs. VTIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Developed World Bond Fund (HFAAX) and Vanguard Total International Bond II Index Fund Investor Class (VTIIX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HFAAX	VTIIX	Difference
Sharpe ratio: Return per unit of total volatility	1.15	0.42	+0.73
Sortino ratio: Return per unit of downside risk	1.70	0.62	+1.08
Omega ratio: Gain probability vs. loss probability	1.24	1.08	+0.17
Calmar ratio: Return relative to maximum drawdown	1.28	0.46	+0.82
Martin ratio: Return relative to average drawdown	4.30	1.16	+3.14

HFAAX vs. VTIIX - Sharpe Ratio Comparison

The current HFAAX Sharpe Ratio is 1.15, which is higher than the VTIIX Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of HFAAX and VTIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HFAAX vs. VTIIX - Drawdown Comparison

The maximum HFAAX drawdown since its inception was -44.89%, which is greater than VTIIX's maximum drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for HFAAX and VTIIX.

Drawdown Indicators

	HFAAX	VTIIX	Difference
Max Drawdown Largest peak-to-trough decline	-44.89%	-15.95%	-28.94%
Max Drawdown (1Y) Largest decline over 1 year	-2.11%	-2.94%	+0.83%
Max Drawdown (3Y) Largest decline over 3 years	-5.27%	-2.94%	-2.33%
Max Drawdown (5Y) Largest decline over 5 years	-21.61%	-15.86%	-5.75%
Max Drawdown (10Y) Largest decline over 10 years	-21.62%	—	—
Current Drawdown Current decline from peak	-6.43%	-1.57%	-4.86%
Average Drawdown Average peak-to-trough decline	-5.17%	-5.90%	+0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	1.17%	-0.54%

Volatility

HFAAX vs. VTIIX - Volatility Comparison

Janus Henderson Developed World Bond Fund (HFAAX) has a higher volatility of 0.92% compared to Vanguard Total International Bond II Index Fund Investor Class (VTIIX) at 0.84%. This indicates that HFAAX's price experiences larger fluctuations and is considered to be riskier than VTIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFAAX	VTIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	0.84%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	2.09%	2.78%	-0.69%
Volatility (1Y) Calculated over the trailing 1-year period	2.35%	3.25%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.88%	4.55%	+1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.72%	4.41%	+0.31%

HFAAX vs. VTIIX - Expense Ratio Comparison

HFAAX has a 0.83% expense ratio, which is higher than VTIIX's 0.11% expense ratio.

Dividends

HFAAX vs. VTIIX - Dividend Comparison

HFAAX's dividend yield for the trailing twelve months is around 3.74%, less than VTIIX's 4.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HFAAX Janus Henderson Developed World Bond Fund	3.74%	3.51%	2.90%	2.32%	8.76%	1.33%	4.31%	3.44%	4.86%	2.69%	2.44%	3.34%
VTIIX Vanguard Total International Bond II Index Fund Investor Class	4.39%	4.21%	4.46%	4.16%	0.89%	0.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HFAAX and VTIIX in my portfolio?

HFAAX and VTIIX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HFAAX or VTIIX?

HFAAX has higher volatility (0.92%) compared to VTIIX (0.84%). In terms of maximum drawdown, HFAAX dropped -44.89% vs VTIIX's -15.95%.

Which has better risk-adjusted returns?

HFAAX currently has the higher Sharpe Ratio (1.15 vs 0.42), 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.