HFSI vs. VNLA

Last updated Jun 14, 2026

HFSI (Hartford Strategic Income ETF) and VNLA (Janus Henderson Short Duration Income ETF) are both exchange-traded funds - HFSI is a Multisector Bonds fund actively managed by Hartford, while VNLA is a Ultrashort Bond fund tracking the FTSE 3-Month U.S. Treasury Bill Index. HFSI is actively managed, while VNLA is passively managed. Over the past 3 years, HFSI returned 8.28%/yr vs 5.79%/yr for VNLA. At a 0.48 correlation, their price movements are largely independent. HFSI charges 0.49%/yr vs 0.23%/yr for VNLA.

Performance

HFSI vs. VNLA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford Strategic Income ETF (HFSI) and Janus Henderson Short Duration Income ETF (VNLA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HFSI achieves a 1.42% return, which is significantly lower than VNLA's 1.59% return.

HFSI

• 1D: -0.01%
• 1M: 1.12%
• YTD: 1.42%
• 6M: 1.84%
• 1Y: 7.94%
• 3Y*: 8.28%
• 5Y*: —
• 10Y*: —

VNLA

• 1D: 0.02%
• 1M: 0.41%
• YTD: 1.59%
• 6M: 1.85%
• 1Y: 4.77%
• 3Y*: 5.79%
• 5Y*: 3.83%
• 10Y*: —

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

HFSI vs. VNLA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HFSI Hartford Strategic Income ETF	1.42%	9.56%	7.91%	9.91%	-12.60%	-1.24%
VNLA Janus Henderson Short Duration Income ETF	1.59%	5.45%	6.41%	6.09%	-0.17%	-0.20%

Correlation

The correlation between HFSI and VNLA is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021	0.48

The correlation between HFSI and VNLA has been stable across timeframes, ranging from 0.48 to 0.53 - a consistent structural relationship.

Return for Risk

HFSI vs. VNLA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HFSI

HFSI Risk / Return Rank: 72
HFSI Sharpe Ratio Rank: 77
HFSI Sortino Ratio Rank: 82
HFSI Omega Ratio Rank: 81
HFSI Calmar Ratio Rank: 57
HFSI Martin Ratio Rank: 63

VNLA

VNLA Risk / Return Rank: 99
VNLA Sharpe Ratio Rank: 99
VNLA Sortino Ratio Rank: 99
VNLA Omega Ratio Rank: 99
VNLA Calmar Ratio Rank: 98
VNLA Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HFSI vs. VNLA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Strategic Income ETF (HFSI) 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.

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.

	HFSI	VNLA	Difference
Sharpe ratio: Return per unit of total volatility	2.15	7.54	-5.39
Sortino ratio: Return per unit of downside risk	3.19	15.49	-12.30
Omega ratio: Gain probability vs. loss probability	1.41	3.56	-2.15
Calmar ratio: Return relative to maximum drawdown	2.49	11.10	-8.61
Martin ratio: Return relative to average drawdown	9.96	57.09	-47.12

HFSI vs. VNLA - Sharpe Ratio Comparison

The current HFSI Sharpe Ratio is 2.15, which is lower than the VNLA Sharpe Ratio of 7.54. The chart below compares the historical Sharpe Ratios of HFSI and VNLA, 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

HFSI vs. VNLA - Drawdown Comparison

The maximum HFSI drawdown since its inception was -19.34%, which is greater than VNLA's maximum drawdown of -4.49%. Use the drawdown chart below to compare losses from any high point for HFSI and VNLA.

Drawdown Indicators

	HFSI	VNLA	Difference
Max Drawdown Largest peak-to-trough decline	-19.34%	-4.49%	-14.85%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-0.43%	-2.63%
Max Drawdown (3Y) Largest decline over 3 years	-5.11%	-0.49%	-4.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-1.76%	—
Current Drawdown Current decline from peak	-0.16%	0.00%	-0.16%
Average Drawdown Average peak-to-trough decline	-5.69%	-0.23%	-5.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	0.08%	+0.68%

Volatility

HFSI vs. VNLA - Volatility Comparison

Hartford Strategic Income ETF (HFSI) has a higher volatility of 1.23% compared to Janus Henderson Short Duration Income ETF (VNLA) at 0.15%. This indicates that HFSI's price experiences larger fluctuations and is considered to be riskier than VNLA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFSI	VNLA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	0.15%	+1.08%
Volatility (6M) Calculated over the trailing 6-month period	2.59%	0.46%	+2.13%
Volatility (1Y) Calculated over the trailing 1-year period	3.56%	0.63%	+2.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.96%	1.04%	+3.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.96%	1.42%	+3.54%

HFSI vs. VNLA - Expense Ratio Comparison

HFSI has a 0.49% expense ratio, which is higher than VNLA's 0.23% expense ratio.

Dividends

HFSI vs. VNLA - Dividend Comparison

HFSI's dividend yield for the trailing twelve months is around 5.54%, more than VNLA's 4.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
HFSI Hartford Strategic Income ETF	5.54%	5.67%	6.51%	5.77%	4.87%	0.71%	0.00%	0.00%	0.00%	0.00%	0.00%
VNLA Janus Henderson Short Duration Income ETF	4.77%	4.84%	4.97%	3.95%	4.35%	1.67%	1.21%	3.13%	2.43%	1.79%	0.08%

Frequently Asked Questions

Can I hold both HFSI and VNLA in my portfolio?

HFSI and VNLA have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HFSI or VNLA?

HFSI has higher volatility (1.23%) compared to VNLA (0.15%). In terms of maximum drawdown, HFSI dropped -19.34% vs VNLA's -4.49%.

Which ETF is better, HFSI or VNLA?

On 3-year performance, HFSI leads with 8.28% vs 5.79% for VNLA. On fees, VNLA is cheaper at 0.23% per year. On volatility, VNLA has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HFSI or VNLA?

Over the 3-year period, HFSI has performed better with a 8.28% return vs 5.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HFSI or VNLA?

VNLA is cheaper with a 0.23% expense ratio, compared with 0.49% for HFSI.

Which ETF pays a higher dividend yield, HFSI or VNLA?

HFSI has the higher dividend yield at 5.54%, compared with 4.77% for VNLA.

What is the main difference between HFSI and VNLA?

HFSI is categorized as Multisector Bonds, while VNLA is Ultrashort Bond. They also come from different issuers: Hartford and Janus Henderson. Their fees differ too: 0.49% for HFSI and 0.23% for VNLA.

Which has better risk-adjusted returns?

VNLA currently has the higher Sharpe Ratio (7.54 vs 2.15), 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.