VNLA vs. JMBS
Compare and contrast key facts about Janus Henderson Short Duration Income ETF (VNLA) and Janus Henderson Mortgage-Backed Securities ETF (JMBS).
VNLA and JMBS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. JMBS is an actively managed fund by Janus Henderson. It was launched on Sep 12, 2018.
Performance
VNLA vs. JMBS - Performance Comparison
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VNLA vs. JMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VNLA Janus Henderson Short Duration Income ETF | 0.57% | 5.45% | 6.41% | 6.09% | -0.17% | -0.18% | 3.01% | 4.43% | -1.27% |
JMBS Janus Henderson Mortgage-Backed Securities ETF | 0.26% | 8.82% | 1.53% | 5.66% | -11.40% | -0.32% | 5.80% | 7.11% | 1.53% |
Returns By Period
In the year-to-date period, VNLA achieves a 0.57% return, which is significantly higher than JMBS's 0.26% return.
VNLA
- 1D
- -0.02%
- 1M
- -0.16%
- YTD
- 0.57%
- 6M
- 1.79%
- 1Y
- 4.72%
- 3Y*
- 5.72%
- 5Y*
- 3.67%
- 10Y*
- —
JMBS
- 1D
- 0.07%
- 1M
- -1.52%
- YTD
- 0.26%
- 6M
- 1.80%
- 1Y
- 5.30%
- 3Y*
- 4.25%
- 5Y*
- 0.76%
- 10Y*
- —
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VNLA vs. JMBS - Expense Ratio Comparison
VNLA has a 0.23% expense ratio, which is lower than JMBS's 0.32% expense ratio.
Return for Risk
VNLA vs. JMBS — Risk / Return Rank
VNLA
JMBS
VNLA vs. JMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Short Duration Income ETF (VNLA) and Janus Henderson Mortgage-Backed Securities ETF (JMBS). 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 | JMBS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 6.55 | 1.10 | +5.45 |
Sortino ratioReturn per unit of downside risk | 11.33 | 1.57 | +9.76 |
Omega ratioGain probability vs. loss probability | 3.14 | 1.20 | +1.94 |
Calmar ratioReturn relative to maximum drawdown | 10.06 | 1.91 | +8.16 |
Martin ratioReturn relative to average drawdown | 44.83 | 5.19 | +39.64 |
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 | JMBS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.55 | 1.10 | +5.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 3.56 | 0.12 | +3.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.06 | 0.42 | +1.63 |
Correlation
The correlation between VNLA and JMBS is 0.36, 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
VNLA vs. JMBS - Dividend Comparison
VNLA's dividend yield for the trailing twelve months is around 4.87%, less than JMBS's 5.16% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
JMBS Janus Henderson Mortgage-Backed Securities ETF | 5.16% | 5.03% | 5.53% | 4.38% | 2.73% | 1.16% | 2.92% | 3.63% | 0.89% | 0.00% | 0.00% |
Drawdowns
VNLA vs. JMBS - Drawdown Comparison
The maximum VNLA drawdown since its inception was -4.49%, smaller than the maximum JMBS drawdown of -16.68%. Use the drawdown chart below to compare losses from any high point for VNLA and JMBS.
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Drawdown Indicators
| VNLA | JMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.49% | -16.68% | +12.19% |
Max Drawdown (1Y)Largest decline over 1 year | -0.47% | -3.01% | +2.54% |
Max Drawdown (5Y)Largest decline over 5 years | -1.76% | -16.68% | +14.92% |
Current DrawdownCurrent decline from peak | -0.23% | -1.90% | +1.67% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -3.95% | +3.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 1.11% | -1.00% |
Volatility
VNLA vs. JMBS - Volatility Comparison
The current volatility for Janus Henderson Short Duration Income ETF (VNLA) is 0.28%, while Janus Henderson Mortgage-Backed Securities ETF (JMBS) has a volatility of 1.96%. This indicates that VNLA experiences smaller price fluctuations and is considered to be less risky than JMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNLA | JMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.28% | 1.96% | -1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 0.45% | 2.86% | -2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.72% | 4.85% | -4.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.04% | 6.43% | -5.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.44% | 5.54% | -4.10% |