JSI vs. VGSH

Last updated Apr 2, 2026

Compare and contrast key facts about Janus Henderson Securitized Income ETF (JSI) and Vanguard Short-Term Treasury ETF (VGSH).

JSI and VGSH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JSI is an actively managed fund by Janus Henderson. It was launched on Nov 8, 2023. VGSH is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Treasury 1-3 Year Index. It was launched on Nov 19, 2009.

Performance

JSI vs. VGSH - Performance Comparison

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

JSI vs. VGSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JSI Janus Henderson Securitized Income ETF	0.41%	6.46%	7.27%	3.39%
VGSH Vanguard Short-Term Treasury ETF	0.25%	5.07%	4.00%	2.00%

Returns By Period

In the year-to-date period, JSI achieves a 0.41% return, which is significantly higher than VGSH's 0.25% return.

JSI

• 1D: 0.00%
• 1M: -0.88%
• YTD: 0.41%
• 6M: 1.73%
• 1Y: 4.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VGSH

• 1D: -0.02%
• 1M: -0.33%
• YTD: 0.25%
• 6M: 1.24%
• 1Y: 3.68%
• 3Y*: 3.97%
• 5Y*: 1.79%
• 10Y*: 1.74%

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

JSI vs. VGSH - Expense Ratio Comparison

JSI has a 0.50% expense ratio, which is higher than VGSH's 0.03% expense ratio.

JSI

Janus Henderson Securitized Income ETF

VGSH

Vanguard Short-Term Treasury ETF

Return for Risk

JSI vs. VGSH — Risk / Return Rank

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

JSI

JSI Risk / Return Rank: 79
JSI Sharpe Ratio Rank: 81
JSI Sortino Ratio Rank: 80
JSI Omega Ratio Rank: 83
JSI Calmar Ratio Rank: 75
JSI Martin Ratio Rank: 76

VGSH

VGSH Risk / Return Rank: 96
VGSH Sharpe Ratio Rank: 96
VGSH Sortino Ratio Rank: 98
VGSH Omega Ratio Rank: 97
VGSH Calmar Ratio Rank: 95
VGSH Martin Ratio Rank: 95

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.

JSI vs. VGSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Securitized Income ETF (JSI) and Vanguard Short-Term Treasury ETF (VGSH). 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.

	JSI	VGSH	Difference
Sharpe ratio Return per unit of total volatility	1.59	2.57	-0.98
Sortino ratio Return per unit of downside risk	2.15	4.13	-1.98
Omega ratio Gain probability vs. loss probability	1.33	1.55	-0.22
Calmar ratio Return relative to maximum drawdown	2.06	4.21	-2.15
Martin ratio Return relative to average drawdown	8.41	15.93	-7.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JSI vs. VGSH - Sharpe Ratio Comparison

The current JSI Sharpe Ratio is 1.59, which is lower than the VGSH Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of JSI and VGSH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JSI	VGSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	2.57	-0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.92	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.54	1.01	+1.53

Correlation

The correlation between JSI and VGSH is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JSI vs. VGSH - Dividend Comparison

JSI's dividend yield for the trailing twelve months is around 5.82%, more than VGSH's 3.93% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JSI Janus Henderson Securitized Income ETF	5.82%	5.80%	6.16%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VGSH Vanguard Short-Term Treasury ETF	3.93%	4.00%	4.18%	3.31%	1.15%	0.66%	1.74%	2.28%	1.79%	1.10%	0.84%	0.69%

Drawdowns

JSI vs. VGSH - Drawdown Comparison

The maximum JSI drawdown since its inception was -2.31%, smaller than the maximum VGSH drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for JSI and VGSH.

Drawdown Indicators

	JSI	VGSH	Difference
Max Drawdown Largest peak-to-trough decline	-2.31%	-5.70%	+3.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.31%	-0.88%	-1.43%
Max Drawdown (5Y) Largest decline over 5 years	—	-5.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-5.70%	—
Current Drawdown Current decline from peak	-1.02%	-0.52%	-0.50%
Average Drawdown Average peak-to-trough decline	-0.33%	-0.60%	+0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.57%	0.23%	+0.34%

Volatility

JSI vs. VGSH - Volatility Comparison

Janus Henderson Securitized Income ETF (JSI) has a higher volatility of 0.92% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.52%. This indicates that JSI's price experiences larger fluctuations and is considered to be riskier than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JSI	VGSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	0.52%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	1.48%	0.84%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	2.92%	1.44%	+1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.93%	1.96%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.93%	1.57%	+1.36%