JBBB vs. VSTBX

Last updated Jun 5, 2026

JBBB (Janus Henderson B-BBB CLO ETF) and VSTBX (Vanguard Short-Term Corporate Bond Index Fund Institutional Shares) are both funds - JBBB is a CLO fund actively managed by Janus Henderson, while VSTBX is a Corporate Bonds fund managed by Vanguard. Over the past 3 years, JBBB returned 10.60%/yr vs 5.65%/yr for VSTBX. At a 0.11 correlation, their price movements are largely independent. JBBB charges 0.49%/yr vs 0.05%/yr for VSTBX.

Performance

JBBB vs. VSTBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson B-BBB CLO ETF (JBBB) and Vanguard Short-Term Corporate Bond Index Fund Institutional Shares (VSTBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JBBB achieves a 1.86% return, which is significantly higher than VSTBX's 0.66% return.

JBBB

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

VSTBX

• 1D: -0.08%
• 1M: 0.15%
• YTD: 0.66%
• 6M: 1.00%
• 1Y: 4.31%
• 3Y*: 5.65%
• 5Y*: 2.39%
• 10Y*: 3.00%

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

JBBB vs. VSTBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JBBB Janus Henderson B-BBB CLO ETF	1.86%	5.43%	12.50%	17.63%	-5.99%
VSTBX Vanguard Short-Term Corporate Bond Index Fund Institutional Shares	0.66%	6.75%	5.37%	6.17%	-5.20%

Correlation

The correlation between JBBB and VSTBX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (All Time) Calculated using the full available price history since Jan 13, 2022	0.11

The correlation between JBBB and VSTBX shifts across timeframes, from 0.04 (3 years) to 0.19 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

JBBB vs. VSTBX — Risk / Return Rank

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

JBBB

JBBB Risk / Return Rank: 52
JBBB Sharpe Ratio Rank: 49
JBBB Sortino Ratio Rank: 57
JBBB Omega Ratio Rank: 60
JBBB Calmar Ratio Rank: 46
JBBB Martin Ratio Rank: 47

VSTBX

VSTBX Risk / Return Rank: 79
VSTBX Sharpe Ratio Rank: 79
VSTBX Sortino Ratio Rank: 85
VSTBX Omega Ratio Rank: 79
VSTBX Calmar Ratio Rank: 78
VSTBX Martin Ratio Rank: 74

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. VSTBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson B-BBB CLO ETF (JBBB) and Vanguard Short-Term Corporate Bond Index Fund Institutional Shares (VSTBX). 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.

	JBBB	VSTBX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.62	-0.95
Sortino ratio: Return per unit of downside risk	2.68	4.09	-1.41
Omega ratio: Gain probability vs. loss probability	1.36	1.52	-0.16
Calmar ratio: Return relative to maximum drawdown	2.26	3.50	-1.25
Martin ratio: Return relative to average drawdown	7.66	13.97	-6.30
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. VSTBX - Sharpe Ratio Comparison

The current JBBB Sharpe Ratio is 1.67, which is lower than the VSTBX Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of JBBB and VSTBX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JBBB	VSTBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	2.62	-0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.89	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	1.46	-0.16

Drawdowns

JBBB vs. VSTBX - Drawdown Comparison

The maximum JBBB drawdown since its inception was -10.57%, which is greater than VSTBX's maximum drawdown of -9.34%. Use the drawdown chart below to compare losses from any high point for JBBB and VSTBX.

Drawdown Indicators

	JBBB	VSTBX	Difference
Max Drawdown Largest peak-to-trough decline	-10.57%	-9.34%	-1.23%
Max Drawdown (1Y) Largest decline over 1 year	-2.46%	-1.31%	-1.15%
Max Drawdown (3Y) Largest decline over 3 years	-3.82%	-1.31%	-2.51%
Max Drawdown (5Y) Largest decline over 5 years	—	-9.34%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-9.34%	—
Current Drawdown Current decline from peak	0.00%	-0.32%	+0.32%
Average Drawdown Average peak-to-trough decline	-1.58%	-0.96%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	0.33%	+0.39%

Volatility

JBBB vs. VSTBX - Volatility Comparison

The current volatility for Janus Henderson B-BBB CLO ETF (JBBB) is 0.45%, while Vanguard Short-Term Corporate Bond Index Fund Institutional Shares (VSTBX) has a volatility of 0.56%. This indicates that JBBB experiences smaller price fluctuations and is considered to be less risky than VSTBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JBBB	VSTBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.45%	0.56%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	2.76%	1.26%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	1.76%	+1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.26%	2.71%	+2.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.26%	2.38%	+2.88%

JBBB vs. VSTBX - Expense Ratio Comparison

JBBB has a 0.49% expense ratio, which is higher than VSTBX's 0.05% expense ratio.

Dividends

JBBB vs. VSTBX - Dividend Comparison

JBBB's dividend yield for the trailing twelve months is around 7.13%, more than VSTBX's 4.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
VSTBX Vanguard Short-Term Corporate Bond Index Fund Institutional Shares	4.45%	4.34%	4.29%	3.09%	2.00%	1.80%	2.27%	5.40%	2.67%	2.27%	1.96%	2.25%

Frequently Asked Questions

Can I hold both JBBB and VSTBX in my portfolio?

JBBB and VSTBX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JBBB or VSTBX?

VSTBX has higher volatility (0.56%) compared to JBBB (0.45%). In terms of maximum drawdown, JBBB dropped -10.57% vs VSTBX's -9.34%.

Which has better risk-adjusted returns?

VSTBX currently has the higher Sharpe Ratio (2.62 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.