VNLA vs. JRE

Last updated Apr 2, 2026

Compare and contrast key facts about Janus Henderson Short Duration Income ETF (VNLA) and Janus Henderson U.S. Real Estate ETF (JRE).

VNLA and JRE 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. JRE is an actively managed fund by Janus Henderson. It was launched on Jun 22, 2021.

Performance

VNLA vs. JRE - Performance Comparison

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

VNLA vs. JRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VNLA Janus Henderson Short Duration Income ETF	0.57%	5.45%	6.41%	6.09%	-0.17%	-0.03%
JRE Janus Henderson U.S. Real Estate ETF	6.33%	2.97%	7.65%	8.79%	-23.47%	16.45%

Returns By Period

In the year-to-date period, VNLA achieves a 0.57% return, which is significantly lower than JRE's 6.33% return.

VNLA

• 1D: -0.02%
• 1M: -0.16%
• YTD: 0.57%
• 6M: 1.79%
• 1Y: 4.72%
• 3Y*: 5.72%
• 5Y*: 3.67%
• 10Y*: —

JRE

• 1D: 0.84%
• 1M: -4.31%
• YTD: 6.33%
• 6M: 5.82%
• 1Y: 9.35%
• 3Y*: 7.54%
• 5Y*: —
• 10Y*: —

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

VNLA vs. JRE - Expense Ratio Comparison

VNLA has a 0.23% expense ratio, which is lower than JRE's 0.65% expense ratio.

JRE

Janus Henderson U.S. Real Estate ETF

VNLA

Janus Henderson Short Duration Income ETF

Return for Risk

VNLA vs. JRE — Risk / Return Rank

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

VNLA

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

JRE

JRE Risk / Return Rank: 29
JRE Sharpe Ratio Rank: 28
JRE Sortino Ratio Rank: 28
JRE Omega Ratio Rank: 28
JRE Calmar Ratio Rank: 28
JRE Martin Ratio Rank: 33

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. JRE - 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 U.S. Real Estate ETF (JRE). 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	JRE	Difference
Sharpe ratio Return per unit of total volatility	6.55	0.57	+5.98
Sortino ratio Return per unit of downside risk	11.33	0.87	+10.46
Omega ratio Gain probability vs. loss probability	3.14	1.12	+2.02
Calmar ratio Return relative to maximum drawdown	10.06	0.72	+9.34
Martin ratio Return relative to average drawdown	44.83	3.25	+41.59
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. JRE - Sharpe Ratio Comparison

The current VNLA Sharpe Ratio is 6.55, which is higher than the JRE Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of VNLA and JRE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VNLA	JRE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.55	0.57	+5.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	3.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.06	0.15	+1.90

Correlation

The correlation between VNLA and JRE is 0.18, 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. JRE - Dividend Comparison

VNLA's dividend yield for the trailing twelve months is around 4.87%, less than JRE's 5.32% 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%
JRE Janus Henderson U.S. Real Estate ETF	5.32%	5.81%	2.20%	2.77%	2.87%	0.90%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

VNLA vs. JRE - Drawdown Comparison

The maximum VNLA drawdown since its inception was -4.49%, smaller than the maximum JRE drawdown of -31.69%. Use the drawdown chart below to compare losses from any high point for VNLA and JRE.

Drawdown Indicators

	VNLA	JRE	Difference
Max Drawdown Largest peak-to-trough decline	-4.49%	-31.69%	+27.20%
Max Drawdown (1Y) Largest decline over 1 year	-0.47%	-12.93%	+12.46%
Max Drawdown (5Y) Largest decline over 5 years	-1.76%	—	—
Current Drawdown Current decline from peak	-0.23%	-4.31%	+4.08%
Average Drawdown Average peak-to-trough decline	-0.24%	-13.04%	+12.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	2.88%	-2.77%

Volatility

VNLA vs. JRE - Volatility Comparison

The current volatility for Janus Henderson Short Duration Income ETF (VNLA) is 0.28%, while Janus Henderson U.S. Real Estate ETF (JRE) has a volatility of 4.96%. This indicates that VNLA experiences smaller price fluctuations and is considered to be less risky than JRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNLA	JRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.28%	4.96%	-4.68%
Volatility (6M) Calculated over the trailing 6-month period	0.45%	9.21%	-8.76%
Volatility (1Y) Calculated over the trailing 1-year period	0.72%	16.56%	-15.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.04%	18.86%	-17.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.44%	18.86%	-17.42%