VNLA vs. GSST
VNLA (Janus Henderson Short Duration Income ETF) and GSST (Goldman Sachs Ultra Short Bond ETF) are both Ultrashort Bond funds. VNLA is passively managed, while GSST is actively managed. Over the past 5 years, VNLA returned 3.80%/yr vs 3.75%/yr for GSST. At a 0.34 correlation, their price movements are largely independent. VNLA charges 0.23%/yr vs 0.16%/yr for GSST.
Performance
VNLA vs. GSST - Performance Comparison
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Returns By Period
In the year-to-date period, VNLA achieves a 1.47% return, which is significantly lower than GSST's 1.56% return.
VNLA
- 1D
- 0.00%
- 1M
- 0.28%
- YTD
- 1.47%
- 6M
- 1.85%
- 1Y
- 4.77%
- 3Y*
- 5.75%
- 5Y*
- 3.80%
- 10Y*
- —
GSST
- 1D
- 0.00%
- 1M
- 0.24%
- YTD
- 1.56%
- 6M
- 1.85%
- 1Y
- 4.58%
- 3Y*
- 5.49%
- 5Y*
- 3.75%
- 10Y*
- —
VNLA vs. GSST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VNLA Janus Henderson Short Duration Income ETF | 1.47% | 5.45% | 6.41% | 6.09% | -0.17% | -0.18% | 3.01% | 2.50% |
GSST Goldman Sachs Ultra Short Bond ETF | 1.56% | 5.20% | 6.01% | 6.08% | 0.13% | 0.05% | 1.74% | 2.65% |
Correlation
The correlation between VNLA and GSST is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2019 | 0.34 |
The correlation between VNLA and GSST shifts across timeframes, from 0.34 (all time) to 0.46 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VNLA vs. GSST — Risk / Return Rank
VNLA
GSST
VNLA vs. GSST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Short Duration Income ETF (VNLA) and Goldman Sachs Ultra Short Bond ETF (GSST). 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 | GSST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 3.62 | 3.93 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 11.20 | 29.79 | -18.58 |
| Martin ratioReturn relative to average drawdown | 57.58 | 184.28 | -126.70 |
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
| VNLA | GSST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.60 | 7.93 | -0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 3.67 | 5.98 | -2.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.10 | 3.78 | -1.68 |
Drawdowns
VNLA vs. GSST - Drawdown Comparison
The maximum VNLA drawdown since its inception was -4.49%, which is greater than GSST's maximum drawdown of -3.51%. Use the drawdown chart below to compare losses from any high point for VNLA and GSST.
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Drawdown Indicators
| VNLA | GSST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.49% | -3.51% | -0.98% |
Max Drawdown (1Y)Largest decline over 1 year | -0.43% | -0.15% | -0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -0.49% | -0.25% | -0.24% |
Max Drawdown (5Y)Largest decline over 5 years | -1.76% | -1.19% | -0.57% |
Current DrawdownCurrent decline from peak | -0.02% | 0.00% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.23% | -0.16% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 0.02% | +0.06% |
Volatility
VNLA vs. GSST - Volatility Comparison
Janus Henderson Short Duration Income ETF (VNLA) has a higher volatility of 0.16% compared to Goldman Sachs Ultra Short Bond ETF (GSST) at 0.13%. This indicates that VNLA's price experiences larger fluctuations and is considered to be riskier than GSST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNLA | GSST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.16% | 0.13% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.46% | 0.41% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.63% | 0.58% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.04% | 0.63% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.42% | 0.86% | +0.56% |
VNLA vs. GSST - Expense Ratio Comparison
VNLA has a 0.23% expense ratio, which is higher than GSST's 0.16% 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. GSST - Dividend Comparison
VNLA's dividend yield for the trailing twelve months is around 4.78%, more than GSST's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GSST Goldman Sachs Ultra Short Bond ETF | 4.32% | 4.56% | 5.45% | 4.98% | 1.97% | 0.71% | 1.12% | 1.66% | 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
VNLA and GSST have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNLA has higher volatility (0.16%) compared to GSST (0.13%). In terms of maximum drawdown, VNLA dropped -4.49% vs GSST's -3.51%.
On 5-year performance, VNLA leads with 3.80% vs 3.75% for GSST. On fees, GSST is cheaper at 0.16% 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, VNLA has performed better with a 3.80% return vs 3.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSST is cheaper with a 0.16% expense ratio, compared with 0.23% for VNLA.
VNLA has the higher dividend yield at 4.78%, compared with 4.32% for GSST.
They also come from different issuers: Janus Henderson and Goldman Sachs. Their fees differ too: 0.23% for VNLA and 0.16% for GSST.
GSST currently has the higher Sharpe Ratio (7.93 vs 7.60), 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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