JSI vs. VGMS

Last updated Aug 5, 2026

JSI (Janus Henderson Securitized Income ETF) and VGMS (Vanguard Multi-Sector Income Bond ETF) are both Multisector Bonds funds. Both are actively managed. Over the past year, JSI returned 3.15% vs 5.27% for VGMS. Their 0.56 correlation means they have sometimes moved together and sometimes differently. JSI charges 0.50%/yr vs 0.30%/yr for VGMS.

Performance

JSI vs. VGMS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Securitized Income ETF (JSI) and Vanguard Multi-Sector Income Bond ETF (VGMS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JSI achieves a 1.49% return, which is significantly lower than VGMS's 1.82% return.

JSI

• 1D: 0.30%
• 1M: 0.33%
• 6M: 0.78%
• YTD: 1.49%
• 1Y: 3.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.80%

VGMS

• 1D: 0.41%
• 1M: 0.09%
• 6M: 1.25%
• YTD: 1.82%
• 1Y: 5.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.45%

*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)
JSI Janus Henderson Securitized Income ETF	$5.24M	$5.31M	$6.50M
VGMS Vanguard Multi-Sector Income Bond ETF	$2.57M	$2.34M	$2.03M

JSI vs. VGMS - Yearly Performance Comparison

	2026 (YTD)	2025
JSI Janus Henderson Securitized Income ETF	1.49%	3.54%
VGMS Vanguard Multi-Sector Income Bond ETF	1.82%	5.51%

Correlation

The correlation between JSI and VGMS is 0.53, 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.	0.53
Correlation (All Time) Calculated using the full available price history since Jun 11, 2025	0.56

The correlation between JSI and VGMS has been stable across timeframes, ranging from 0.53 to 0.56 - a consistent structural relationship.

Return for Risk

JSI vs. VGMS — Risk / Return Rank

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

JSI

JSI Risk / Return Rank: 47
JSI Sharpe Ratio Rank: 47
JSI Sortino Ratio Rank: 43
JSI Omega Ratio Rank: 51
JSI Calmar Ratio Rank: 47
JSI Martin Ratio Rank: 47

VGMS

VGMS Risk / Return Rank: 62
VGMS Sharpe Ratio Rank: 61
VGMS Sortino Ratio Rank: 64
VGMS Omega Ratio Rank: 63
VGMS Calmar Ratio Rank: 53
VGMS Martin Ratio Rank: 68

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.

JSI vs. VGMS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Securitized Income ETF (JSI) and Vanguard Multi-Sector Income Bond ETF (VGMS). 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.

	JSI	VGMS	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.63	-0.29
Sortino ratio: Return per unit of downside risk	1.80	2.40	-0.61
Omega ratio: Gain probability vs. loss probability	1.26	1.31	-0.05
Calmar ratio: Return relative to maximum drawdown	1.88	2.15	-0.27
Martin ratio: Return relative to average drawdown	5.94	9.44	-3.49

JSI vs. VGMS - Sharpe Ratio Comparison

The current JSI Sharpe Ratio is 1.33, which is comparable to the VGMS Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of JSI and VGMS, 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

JSI vs. VGMS - Drawdown Comparison

The maximum JSI drawdown since its inception was -2.31%, smaller than the maximum VGMS drawdown of -2.46%. Use the drawdown chart below to compare losses from any high point for JSI and VGMS.

Drawdown Indicators

	JSI	VGMS	Difference
Max Drawdown Largest peak-to-trough decline	-2.31%	-2.46%	+0.15%
Max Drawdown (1Y) Largest decline over 1 year	-1.68%	-2.46%	+0.78%
Current Drawdown Current decline from peak	0.00%	-0.08%	+0.08%
Average Drawdown Average peak-to-trough decline	-0.34%	-0.31%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	0.56%	-0.03%

Volatility

JSI vs. VGMS - Volatility Comparison

The current volatility for Janus Henderson Securitized Income ETF (JSI) is 0.46%, while Vanguard Multi-Sector Income Bond ETF (VGMS) has a volatility of 0.86%. This indicates that JSI experiences smaller price fluctuations and is considered to be less risky than VGMS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JSI	VGMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.46%	0.86%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	1.68%	2.74%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	2.37%	3.26%	-0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.85%	3.19%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.85%	3.19%	-0.34%

JSI vs. VGMS - Expense Ratio Comparison

JSI has a 0.50% expense ratio, which is higher than VGMS's 0.30% expense ratio.

Dividends

JSI vs. VGMS - Dividend Comparison

JSI's dividend yield for the trailing twelve months is around 5.91%, more than VGMS's 5.41% yield.

Position	TTM	2025	2024	2023
JSI Janus Henderson Securitized Income ETF	5.91%	5.80%	6.16%	0.84%
VGMS Vanguard Multi-Sector Income Bond ETF	5.41%	2.94%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JSI and VGMS in my portfolio?

JSI and VGMS have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JSI or VGMS?

VGMS has higher volatility (0.86%) compared to JSI (0.46%). In terms of maximum drawdown, JSI dropped -2.31% vs VGMS's -2.46%.

Which ETF is better, JSI or VGMS?

On 1-year performance, VGMS leads with 5.27% vs 3.15% for JSI. On fees, VGMS is cheaper at 0.30% per year. On volatility, JSI has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JSI or VGMS?

Over the 1-year period, VGMS has performed better with a 5.27% return vs 3.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JSI or VGMS?

VGMS is cheaper with a 0.30% expense ratio, compared with 0.50% for JSI.

Which ETF pays a higher dividend yield, JSI or VGMS?

JSI has the higher dividend yield at 5.91%, compared with 5.41% for VGMS.

What is the main difference between JSI and VGMS?

They also come from different issuers: Janus Henderson and Vanguard. Their fees differ too: 0.50% for JSI and 0.30% for VGMS.

Which has better risk-adjusted returns?

VGMS currently has the higher Sharpe Ratio (1.63 vs 1.33), 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.