RAVI vs. VNLA
Compare and contrast key facts about FlexShares Ultra-Short Income ETF (RAVI) and Janus Henderson Short Duration Income ETF (VNLA).
RAVI and VNLA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RAVI is an actively managed fund by FlexShares. It was launched on Oct 9, 2012. VNLA is a passively managed fund by Janus Henderson that tracks the performance of the FTSE 3-Month U.S. Treasury Bill Index. It was launched on Nov 16, 2016.
Performance
RAVI vs. VNLA - Performance Comparison
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RAVI vs. VNLA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RAVI FlexShares Ultra-Short Income ETF | 0.72% | 4.98% | 5.67% | 5.55% | 0.15% | -0.04% | 2.06% | 3.49% | 1.65% | 1.22% |
VNLA Janus Henderson Short Duration Income ETF | 0.57% | 5.45% | 6.41% | 6.09% | -0.17% | -0.18% | 3.01% | 4.43% | 0.02% | 2.11% |
Returns By Period
In the year-to-date period, RAVI achieves a 0.72% return, which is significantly higher than VNLA's 0.57% return.
RAVI
- 1D
- 0.00%
- 1M
- 0.08%
- YTD
- 0.72%
- 6M
- 1.90%
- 1Y
- 4.35%
- 3Y*
- 5.24%
- 5Y*
- 3.38%
- 10Y*
- 2.61%
VNLA
- 1D
- -0.02%
- 1M
- -0.16%
- YTD
- 0.57%
- 6M
- 1.79%
- 1Y
- 4.72%
- 3Y*
- 5.72%
- 5Y*
- 3.67%
- 10Y*
- —
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RAVI vs. VNLA - Expense Ratio Comparison
RAVI has a 0.25% expense ratio, which is higher than VNLA's 0.23% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
RAVI vs. VNLA — Risk / Return Rank
RAVI
VNLA
RAVI vs. VNLA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Ultra-Short Income ETF (RAVI) 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.
| RAVI | VNLA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 8.51 | 6.55 | +1.96 |
Sortino ratioReturn per unit of downside risk | 14.39 | 11.33 | +3.07 |
Omega ratioGain probability vs. loss probability | 3.85 | 3.14 | +0.70 |
Calmar ratioReturn relative to maximum drawdown | 12.00 | 10.06 | +1.94 |
Martin ratioReturn relative to average drawdown | 77.37 | 44.83 | +32.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RAVI | VNLA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.51 | 6.55 | +1.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.40 | 3.56 | -1.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.04 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.99 | 2.06 | -0.07 |
Correlation
The correlation between RAVI and VNLA is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
RAVI vs. VNLA - Dividend Comparison
RAVI's dividend yield for the trailing twelve months is around 4.47%, less than VNLA's 4.87% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
RAVI FlexShares Ultra-Short Income ETF | 4.47% | 4.59% | 5.34% | 4.55% | 1.70% | 0.90% | 1.29% | 2.53% | 2.22% | 1.28% | 0.90% |
VNLA Janus Henderson Short Duration Income ETF | 4.87% | 4.84% | 4.97% | 3.95% | 4.35% | 1.67% | 1.21% | 3.13% | 2.43% | 1.79% | 0.08% |
Drawdowns
RAVI vs. VNLA - Drawdown Comparison
The maximum RAVI drawdown since its inception was -3.72%, smaller than the maximum VNLA drawdown of -4.49%. Use the drawdown chart below to compare losses from any high point for RAVI and VNLA.
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Drawdown Indicators
| RAVI | VNLA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.72% | -4.49% | +0.77% |
Max Drawdown (1Y)Largest decline over 1 year | -0.36% | -0.47% | +0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -3.28% | -1.76% | -1.52% |
Max Drawdown (10Y)Largest decline over 10 years | -3.72% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.23% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -0.18% | -0.24% | +0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 0.11% | -0.05% |
Volatility
RAVI vs. VNLA - Volatility Comparison
The current volatility for FlexShares Ultra-Short Income ETF (RAVI) is 0.16%, while Janus Henderson Short Duration Income ETF (VNLA) has a volatility of 0.28%. This indicates that RAVI experiences smaller price fluctuations and is considered to be less risky 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
| RAVI | VNLA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.16% | 0.28% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 0.28% | 0.45% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.51% | 0.72% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.41% | 1.04% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.29% | 1.44% | -0.15% |