VNLA vs. FLOT
VNLA (Janus Henderson Short Duration Income ETF) and FLOT (iShares Floating Rate Bond ETF) are both Ultrashort Bond funds - VNLA tracks the FTSE 3-Month U.S. Treasury Bill Index while FLOT tracks the Bloomberg US Floating Rate Note < 5 Years Index. Both are passively managed. Over the past 5 years, VNLA returned 3.83%/yr vs 4.22%/yr for FLOT. At a 0.08 correlation, their price movements are largely independent. VNLA charges 0.23%/yr vs 0.15%/yr for FLOT.
Performance
VNLA vs. FLOT - Performance Comparison
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Returns By Period
In the year-to-date period, VNLA achieves a 1.59% return, which is significantly lower than FLOT's 1.99% return.
VNLA
- 1D
- 0.02%
- 1M
- 0.41%
- YTD
- 1.59%
- 6M
- 1.85%
- 1Y
- 4.72%
- 3Y*
- 5.79%
- 5Y*
- 3.83%
- 10Y*
- —
FLOT
- 1D
- 0.02%
- 1M
- 0.47%
- YTD
- 1.99%
- 6M
- 2.23%
- 1Y
- 4.87%
- 3Y*
- 5.66%
- 5Y*
- 4.22%
- 10Y*
- 3.04%
VNLA vs. FLOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNLA Janus Henderson Short Duration Income ETF | 1.59% | 5.45% | 6.41% | 6.09% | -0.17% | -0.18% | 3.01% | 4.43% | 0.02% | 2.11% |
FLOT iShares Floating Rate Bond ETF | 1.99% | 4.91% | 6.53% | 6.43% | 1.28% | 0.45% | 0.87% | 3.97% | 1.48% | 1.65% |
Correlation
The correlation between VNLA and FLOT is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2016 | 0.08 |
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Return for Risk
VNLA vs. FLOT — Risk / Return Rank
VNLA
FLOT
VNLA vs. FLOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Short Duration Income ETF (VNLA) and iShares Floating Rate Bond ETF (FLOT). 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.
| VNLA | FLOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +3.65 | ||
| Omega ratioGain probability vs. loss probability | 3.56 | 3.23 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 11.10 | 11.32 | -0.22 |
| Martin ratioReturn relative to average drawdown | 57.09 | 105.27 | -48.18 |
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Drawdowns
VNLA vs. FLOT - Drawdown Comparison
The maximum VNLA drawdown since its inception was -4.49%, smaller than the maximum FLOT drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for VNLA and FLOT.
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Drawdown Indicators
| VNLA | FLOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.49% | -13.54% | +9.05% |
Max Drawdown (1Y)Largest decline over 1 year | -0.43% | -0.43% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -0.49% | -1.57% | +1.08% |
Max Drawdown (5Y)Largest decline over 5 years | -1.76% | -2.36% | +0.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.54% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.23% | -0.21% | -0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 0.05% | +0.03% |
Volatility
VNLA vs. FLOT - Volatility Comparison
The current volatility for Janus Henderson Short Duration Income ETF (VNLA) is 0.15%, while iShares Floating Rate Bond ETF (FLOT) has a volatility of 0.21%. This indicates that VNLA experiences smaller price fluctuations and is considered to be less risky than FLOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNLA | FLOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 0.21% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 0.46% | 0.63% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.63% | 0.75% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.04% | 1.77% | -0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.42% | 4.15% | -2.73% |
VNLA vs. FLOT - Expense Ratio Comparison
VNLA has a 0.23% expense ratio, which is higher than FLOT's 0.15% 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%.
Dividends
VNLA vs. FLOT - Dividend Comparison
VNLA's dividend yield for the trailing twelve months is around 4.77%, more than FLOT's 4.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 4.53% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
VNLA Janus Henderson Short Duration Income ETF | 4.77% | 4.84% | 4.97% | 3.95% | 4.35% | 1.67% | 1.21% | 3.13% | 2.43% | 1.79% | 0.08% | 0.00% |
Frequently Asked Questions
VNLA and FLOT have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLOT has higher volatility (0.21%) compared to VNLA (0.15%). In terms of maximum drawdown, VNLA dropped -4.49% vs FLOT's -13.54%.
On 5-year performance, FLOT leads with 4.22% vs 3.83% for VNLA. On fees, FLOT is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLOT has performed better with a 4.22% return vs 3.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLOT is cheaper with a 0.15% expense ratio, compared with 0.23% for VNLA.
VNLA has the higher dividend yield at 4.77%, compared with 4.53% for FLOT.
VNLA tracks FTSE 3-Month U.S. Treasury Bill Index, while FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index. They also come from different issuers: Janus Henderson and iShares. Their fees differ too: 0.23% for VNLA and 0.15% for FLOT.
VNLA currently has the higher Sharpe Ratio (7.54 vs 6.56), 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.
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