VNLA vs. BUCK

Last updated Jun 4, 2026

VNLA (Janus Henderson Short Duration Income ETF) and BUCK (Simplify Treasury Option Income ETF) are both exchange-traded funds - VNLA is a Ultrashort Bond fund tracking the FTSE 3-Month U.S. Treasury Bill Index, while BUCK is a Government Bonds fund actively managed by Simplify. VNLA is passively managed, while BUCK is actively managed. Over the past 3 years, VNLA returned 5.76%/yr vs 5.27%/yr for BUCK. At a 0.03 correlation, their price movements are largely independent. VNLA charges 0.23%/yr vs 0.35%/yr for BUCK.

Performance

VNLA vs. BUCK - Performance Comparison

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

Returns By Period

In the year-to-date period, VNLA achieves a 1.43% return, which is significantly lower than BUCK's 1.90% return.

VNLA

• 1D: 0.02%
• 1M: 0.37%
• YTD: 1.43%
• 6M: 1.85%
• 1Y: 4.75%
• 3Y*: 5.76%
• 5Y*: 3.79%
• 10Y*: —

BUCK

• 1D: 0.02%
• 1M: 0.38%
• YTD: 1.90%
• 6M: 2.09%
• 1Y: 7.95%
• 3Y*: 5.27%
• 5Y*: —
• 10Y*: —

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

VNLA vs. BUCK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VNLA Janus Henderson Short Duration Income ETF	1.43%	5.45%	6.41%	6.09%	1.09%
BUCK Simplify Treasury Option Income ETF	1.90%	4.13%	7.25%	4.63%	0.39%

Correlation

The correlation between VNLA and BUCK is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (All Time) Calculated using the full available price history since Oct 31, 2022	0.03

VNLA vs. BUCK - Sectors Allocation Comparison

Sectors	VNLA	BUCK
Energy	66.7%	-
Industrials	33.3%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	100.0%
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

VNLA vs. BUCK — Risk / Return Rank

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

VNLA

VNLA Risk / Return Rank: 98
VNLA Sharpe Ratio Rank: 99
VNLA Sortino Ratio Rank: 99
VNLA Omega Ratio Rank: 99
VNLA Calmar Ratio Rank: 97
VNLA Martin Ratio Rank: 98

BUCK

BUCK Risk / Return Rank: 87
BUCK Sharpe Ratio Rank: 77
BUCK Sortino Ratio Rank: 84
BUCK Omega Ratio Rank: 86
BUCK Calmar Ratio Rank: 92
BUCK 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.

VNLA vs. BUCK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Short Duration Income ETF (VNLA) and Simplify Treasury Option Income ETF (BUCK). 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.

	VNLA	BUCK	Difference
Sharpe ratio: Return per unit of total volatility	7.55	2.54	+5.00
Sortino ratio: Return per unit of downside risk	15.48	3.83	+11.65
Omega ratio: Gain probability vs. loss probability	3.58	1.54	+2.03
Calmar ratio: Return relative to maximum drawdown	11.15	6.11	+5.04
Martin ratio: Return relative to average drawdown	57.27	32.31	+24.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VNLA vs. BUCK - Sharpe Ratio Comparison

The current VNLA Sharpe Ratio is 7.55, which is higher than the BUCK Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of VNLA and BUCK, 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

	VNLA	BUCK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.55	2.54	+5.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	3.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.10	1.47	+0.63

Drawdowns

VNLA vs. BUCK - Drawdown Comparison

The maximum VNLA drawdown since its inception was -4.49%, smaller than the maximum BUCK drawdown of -5.43%. Use the drawdown chart below to compare losses from any high point for VNLA and BUCK.

Drawdown Indicators

	VNLA	BUCK	Difference
Max Drawdown Largest peak-to-trough decline	-4.49%	-5.43%	+0.94%
Max Drawdown (1Y) Largest decline over 1 year	-0.43%	-1.31%	+0.88%
Max Drawdown (3Y) Largest decline over 3 years	-0.49%	-5.43%	+4.94%
Max Drawdown (5Y) Largest decline over 5 years	-1.76%	—	—
Current Drawdown Current decline from peak	-0.02%	-0.04%	+0.02%
Average Drawdown Average peak-to-trough decline	-0.23%	-0.49%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.08%	0.25%	-0.17%

Volatility

VNLA vs. BUCK - Volatility Comparison

The current volatility for Janus Henderson Short Duration Income ETF (VNLA) is 0.18%, while Simplify Treasury Option Income ETF (BUCK) has a volatility of 0.70%. This indicates that VNLA experiences smaller price fluctuations and is considered to be less risky than BUCK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNLA	BUCK	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.18%	0.70%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	0.46%	1.53%	-1.07%
Volatility (1Y) Calculated over the trailing 1-year period	0.63%	3.14%	-2.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.04%	3.49%	-2.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.42%	3.49%	-2.07%

VNLA vs. BUCK - Expense Ratio Comparison

VNLA has a 0.23% expense ratio, which is lower than BUCK's 0.35% expense ratio.

Dividends

VNLA vs. BUCK - Dividend Comparison

VNLA's dividend yield for the trailing twelve months is around 4.78%, less than BUCK's 7.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BUCK Simplify Treasury Option Income ETF	7.42%	7.59%	8.84%	4.84%	0.59%	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

Can I hold both VNLA and BUCK in my portfolio?

VNLA and BUCK have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VNLA or BUCK?

BUCK has higher volatility (0.70%) compared to VNLA (0.18%). In terms of maximum drawdown, VNLA dropped -4.49% vs BUCK's -5.43%.

Which ETF is better, VNLA or BUCK?

On 3-year performance, VNLA leads with 5.76% vs 5.27% for BUCK. 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.

Which ETF has performed better, VNLA or BUCK?

Over the 3-year period, VNLA has performed better with a 5.76% return vs 5.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNLA or BUCK?

VNLA is cheaper with a 0.23% expense ratio, compared with 0.35% for BUCK.

Which ETF pays a higher dividend yield, VNLA or BUCK?

BUCK has the higher dividend yield at 7.42%, compared with 4.78% for VNLA.

What is the main difference between VNLA and BUCK?

VNLA is categorized as Ultrashort Bond, while BUCK is Government Bonds. They also come from different issuers: Janus Henderson and Simplify. Their fees differ too: 0.23% for VNLA and 0.35% for BUCK.

Which has better risk-adjusted returns?

VNLA currently has the higher Sharpe Ratio (7.55 vs 2.54), 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.