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JBBB vs. VNLA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JBBB vs. VNLA

Last updated Jun 5, 2026

JBBB (Janus Henderson B-BBB CLO ETF) and VNLA (Janus Henderson Short Duration Income ETF) are both exchange-traded funds - JBBB is a CLO fund actively managed by Janus Henderson, while VNLA is a Ultrashort Bond fund tracking the FTSE 3-Month U.S. Treasury Bill Index. JBBB is actively managed, while VNLA is passively managed. Over the past 3 years, JBBB returned 10.60%/yr vs 5.78%/yr for VNLA. At a 0.10 correlation, their price movements are largely independent. JBBB charges 0.49%/yr vs 0.23%/yr for VNLA.

Performance

JBBB vs. VNLA - Performance Comparison

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

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Returns By Period

In the year-to-date period, JBBB achieves a 1.86% return, which is significantly higher than VNLA's 1.49% return.

JBBB

1D
0.00%
1M
0.57%
YTD
1.86%
6M
2.30%
1Y
5.54%
3Y*
10.60%
5Y*
—
10Y*
—

VNLA

1D
0.06%
1M
0.41%
YTD
1.49%
6M
1.89%
1Y
4.75%
3Y*
5.78%
5Y*
3.80%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

JBBB vs. VNLA - Yearly Performance Comparison

2026 (YTD)2025202420232022
JBBB
Janus Henderson B-BBB CLO ETF		1.86%5.43%12.50%17.63%-5.99%
VNLA
Janus Henderson Short Duration Income ETF		1.49%5.45%6.41%6.09%-0.15%

Correlation

The correlation between JBBB and VNLA is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.12

Correlation (3Y)
Calculated over the trailing 3-year period

0.06

Correlation (All Time)
Calculated using the full available price history since Jan 13, 2022

0.10

JBBB vs. VNLA - Sectors Allocation Comparison

Sectors
JBBB
VNLA

Financial Services

4.2%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

66.7%

Healthcare

-

-

Industrials

-

33.3%

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

JBBB
4.2%
VNLA

-

Basic Materials

JBBB

-

VNLA

-

Communication Services

JBBB

-

VNLA

-

Consumer Cyclical

JBBB

-

VNLA

-

Consumer Defensive

JBBB

-

VNLA

-

Energy

JBBB

-

VNLA
66.7%

Healthcare

JBBB

-

VNLA

-

Industrials

JBBB

-

VNLA
33.3%

Real Estate

JBBB

-

VNLA

-

Technology

JBBB

-

VNLA

-

Utilities

JBBB

-

VNLA

-

Compare stocks, funds, or ETFs

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Janus Henderson B-BBB CLO ETF

Janus Henderson Short Duration Income ETF

Often compared with JBBB:
JBBB vs. JAAAJBBB vs. CLOZJBBB vs. CLOBJBBB vs. SRLNJBBB vs. CLOAJBBB vs. SPHYJBBB vs. VRP
Often compared with VNLA:
VNLA vs. GSYVNLA vs. JBNDVNLA vs. VUSBVNLA vs. SGOVVNLA vs. BBBIXVNLA vs. VTIPVNLA vs. JNK

Return for Risk

JBBB vs. VNLA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JBBB
JBBB Risk / Return Rank: 5252
Overall Rank
JBBB Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
JBBB Sortino Ratio Rank: 5757
Sortino Ratio Rank
JBBB Omega Ratio Rank: 6060
Omega Ratio Rank
JBBB Calmar Ratio Rank: 4646
Calmar Ratio Rank
JBBB Martin Ratio Rank: 4747
Martin Ratio Rank
VNLA
VNLA Risk / Return Rank: 9898
Overall Rank
VNLA Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
VNLA Sortino Ratio Rank: 9999
Sortino Ratio Rank
VNLA Omega Ratio Rank: 9999
Omega Ratio Rank
VNLA Calmar Ratio Rank: 9797
Calmar Ratio Rank
VNLA Martin Ratio Rank: 9898
Martin Ratio Rank
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.

JBBB vs. VNLA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson B-BBB CLO ETF (JBBB) 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.

JBBBVNLADifference
Sharpe ratioReturn per unit of total volatility
1.67
7.55

-5.88

Sortino ratioReturn per unit of downside risk
2.68
15.48

-12.80

Omega ratioGain probability vs. loss probability

1.36

3.58

-2.22

Calmar ratioReturn relative to maximum drawdown

2.26

11.15

-8.90

Martin ratioReturn relative to average drawdown

7.66

57.33

-49.67

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JBBB vs. VNLA - Sharpe Ratio Comparison

The current JBBB Sharpe Ratio is 1.67, which is lower than the VNLA Sharpe Ratio of 7.55. The chart below compares the historical Sharpe Ratios of JBBB 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.

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Sharpe Ratios by Period

JBBBVNLADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.67

7.55

-5.88

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

3.67

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.30

2.10

-0.80

Drawdowns

JBBB vs. VNLA - Drawdown Comparison

The maximum JBBB drawdown since its inception was -10.57%, which is greater than VNLA's maximum drawdown of -4.49%. Use the drawdown chart below to compare losses from any high point for JBBB and VNLA.

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Drawdown Indicators

JBBBVNLADifference

Max Drawdown

Largest peak-to-trough decline

-10.57%

-4.49%

-6.08%

Max Drawdown (1Y)

Largest decline over 1 year

-2.46%

-0.43%

-2.03%

Max Drawdown (3Y)

Largest decline over 3 years

-3.82%

-0.49%

-3.33%

Max Drawdown (5Y)

Largest decline over 5 years

—

-1.76%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-1.58%

-0.23%

-1.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.72%

0.08%

+0.64%

Volatility

JBBB vs. VNLA - Volatility Comparison

Janus Henderson B-BBB CLO ETF (JBBB) has a higher volatility of 0.45% compared to Janus Henderson Short Duration Income ETF (VNLA) at 0.18%. This indicates that JBBB'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.

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Volatility by Period

JBBBVNLADifference

Volatility (1M)

Calculated over the trailing 1-month period

0.45%

0.18%

+0.27%

Volatility (6M)

Calculated over the trailing 6-month period

2.76%

0.46%

+2.30%

Volatility (1Y)

Calculated over the trailing 1-year period

3.34%

0.63%

+2.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.26%

1.04%

+4.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.26%

1.42%

+3.84%

JBBB vs. VNLA - Expense Ratio Comparison

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

Dividends

JBBB vs. VNLA - Dividend Comparison

JBBB's dividend yield for the trailing twelve months is around 7.13%, more than VNLA's 4.78% yield.

PositionTTM2025202420232022202120202019201820172016
JBBB
Janus Henderson B-BBB CLO ETF		7.13%8.41%9.24%8.71%5.71%0.00%0.00%0.00%0.00%0.00%0.00%
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

JBBB and VNLA have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

JBBB has higher volatility (0.45%) compared to VNLA (0.18%). In terms of maximum drawdown, JBBB dropped -10.57% vs VNLA's -4.49%.

On 3-year performance, JBBB leads with 10.60% vs 5.78% for VNLA. On fees, VNLA is cheaper at 0.23% per year. On volatility, VNLA has been the lower-risk option at 0.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, JBBB has performed better with a 10.60% return vs 5.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

JBBB has the higher dividend yield at 7.13%, compared with 4.78% for VNLA.

JBBB is categorized as CLO, while VNLA is Ultrashort Bond. Their fees differ too: 0.49% for JBBB and 0.23% for VNLA.

VNLA currently has the higher Sharpe Ratio (7.55 vs 1.67), 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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