VNLA vs. PBBBX
Compare and contrast key facts about Janus Henderson Short Duration Income ETF (VNLA) and PIA BBB Bond Fund (PBBBX).
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. PBBBX is managed by PIA Mutual Funds. It was launched on Sep 25, 2003.
Performance
VNLA vs. PBBBX - Performance Comparison
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VNLA vs. PBBBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNLA Janus Henderson Short Duration Income ETF | 0.57% | 5.45% | 6.41% | 6.09% | -0.17% | -0.18% | 3.01% | 4.43% | 0.02% | 2.11% |
PBBBX PIA BBB Bond Fund | -0.91% | 8.14% | 2.41% | 9.19% | -16.35% | -1.20% | 9.37% | 16.49% | -3.02% | 7.16% |
Returns By Period
In the year-to-date period, VNLA achieves a 0.57% return, which is significantly higher than PBBBX's -0.91% return.
VNLA
- 1D
- -0.02%
- 1M
- -0.16%
- YTD
- 0.57%
- 6M
- 1.79%
- 1Y
- 4.72%
- 3Y*
- 5.72%
- 5Y*
- 3.67%
- 10Y*
- —
PBBBX
- 1D
- 0.35%
- 1M
- -1.95%
- YTD
- -0.91%
- 6M
- -0.40%
- 1Y
- 4.42%
- 3Y*
- 5.03%
- 5Y*
- 0.68%
- 10Y*
- 3.01%
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VNLA vs. PBBBX - Expense Ratio Comparison
VNLA has a 0.23% expense ratio, which is higher than PBBBX'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%.
Return for Risk
VNLA vs. PBBBX — Risk / Return Rank
VNLA
PBBBX
VNLA vs. PBBBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Short Duration Income ETF (VNLA) and PIA BBB Bond Fund (PBBBX). 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 | PBBBX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 6.55 | 1.06 | +5.49 |
Sortino ratioReturn per unit of downside risk | 11.33 | 1.50 | +9.83 |
Omega ratioGain probability vs. loss probability | 3.14 | 1.20 | +1.95 |
Calmar ratioReturn relative to maximum drawdown | 10.06 | 1.52 | +8.54 |
Martin ratioReturn relative to average drawdown | 44.83 | 5.14 | +39.69 |
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 | PBBBX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.55 | 1.06 | +5.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 3.56 | 0.10 | +3.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.50 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.06 | 0.75 | +1.31 |
Correlation
The correlation between VNLA and PBBBX is 0.37, 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. PBBBX - Dividend Comparison
VNLA's dividend yield for the trailing twelve months is around 4.87%, more than PBBBX's 3.77% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
PBBBX PIA BBB Bond Fund | 3.77% | 4.02% | 3.82% | 3.57% | 3.24% | 2.85% | 3.16% | 3.78% | 4.20% | 3.75% | 3.95% | 4.12% |
Drawdowns
VNLA vs. PBBBX - Drawdown Comparison
The maximum VNLA drawdown since its inception was -4.49%, smaller than the maximum PBBBX drawdown of -23.00%. Use the drawdown chart below to compare losses from any high point for VNLA and PBBBX.
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Drawdown Indicators
| VNLA | PBBBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.49% | -23.00% | +18.51% |
Max Drawdown (1Y)Largest decline over 1 year | -0.47% | -3.30% | +2.83% |
Max Drawdown (5Y)Largest decline over 5 years | -1.76% | -23.00% | +21.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.00% | — |
Current DrawdownCurrent decline from peak | -0.23% | -2.51% | +2.28% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -3.50% | +3.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 0.98% | -0.87% |
Volatility
VNLA vs. PBBBX - Volatility Comparison
The current volatility for Janus Henderson Short Duration Income ETF (VNLA) is 0.28%, while PIA BBB Bond Fund (PBBBX) has a volatility of 1.76%. This indicates that VNLA experiences smaller price fluctuations and is considered to be less risky than PBBBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VNLA | PBBBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.28% | 1.76% | -1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 0.45% | 2.73% | -2.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.72% | 4.76% | -4.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.04% | 6.69% | -5.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.44% | 6.02% | -4.58% |