VNLA vs. SVARX

Last updated Jun 5, 2026

VNLA (Janus Henderson Short Duration Income ETF) and SVARX (Spectrum Low Volatility Fund) are both funds - VNLA is a Ultrashort Bond fund tracking the FTSE 3-Month U.S. Treasury Bill Index, while SVARX is a Nontraditional Bonds fund managed by Advisors Preferred. Over the past 5 years, VNLA returned 3.80%/yr vs 3.24%/yr for SVARX. At a 0.21 correlation, their price movements are largely independent. VNLA charges 0.23%/yr vs 2.34%/yr for SVARX.

Performance

VNLA vs. SVARX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Short Duration Income ETF (VNLA) and Spectrum Low Volatility Fund (SVARX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VNLA having a 1.49% return and SVARX slightly lower at 1.44%.

VNLA

• 1D: 0.06%
• 1M: 0.41%
• YTD: 1.49%
• 6M: 1.89%
• 1Y: 4.75%
• 3Y*: 5.78%
• 5Y*: 3.80%
• 10Y*: —

SVARX

• 1D: -0.08%
• 1M: 0.67%
• YTD: 1.44%
• 6M: 2.14%
• 1Y: 5.91%
• 3Y*: 6.90%
• 5Y*: 3.24%
• 10Y*: 6.10%

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

VNLA vs. SVARX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VNLA Janus Henderson Short Duration Income ETF	1.49%	5.45%	6.41%	6.09%	-0.17%	-0.18%	3.01%	4.43%	0.02%	2.11%
SVARX Spectrum Low Volatility Fund	1.44%	6.22%	2.60%	9.67%	-4.35%	4.10%	19.50%	9.42%	-0.99%	8.25%

Correlation

The correlation between VNLA and SVARX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Nov 18, 2016	0.21

The correlation between VNLA and SVARX shifts across timeframes, from 0.21 (all time) to 0.40 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

VNLA vs. SVARX — Risk / Return Rank

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

VNLA

VNLA Risk / Return Rank: 98
VNLA Sharpe Ratio Rank: 99
VNLA Sortino Ratio Rank: 99
VNLA Omega Ratio Rank: 99
VNLA Calmar Ratio Rank: 97
VNLA Martin Ratio Rank: 98

SVARX

SVARX Risk / Return Rank: 49
SVARX Sharpe Ratio Rank: 59
SVARX Sortino Ratio Rank: 53
SVARX Omega Ratio Rank: 73
SVARX Calmar Ratio Rank: 40
SVARX Martin Ratio Rank: 22

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. SVARX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Short Duration Income ETF (VNLA) and Spectrum Low Volatility Fund (SVARX). 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	SVARX	Difference
Sharpe ratio: Return per unit of total volatility	7.55	2.28	+5.26
Sortino ratio: Return per unit of downside risk	15.48	3.06	+12.42
Omega ratio: Gain probability vs. loss probability	3.58	1.48	+2.09
Calmar ratio: Return relative to maximum drawdown	11.15	2.38	+8.77
Martin ratio: Return relative to average drawdown	57.33	5.61	+51.73
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. SVARX - Sharpe Ratio Comparison

The current VNLA Sharpe Ratio is 7.55, which is higher than the SVARX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of VNLA and SVARX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VNLA	SVARX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.55	2.28	+5.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	3.67	1.06	+2.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.10	1.70	+0.40

Drawdowns

VNLA vs. SVARX - Drawdown Comparison

The maximum VNLA drawdown since its inception was -4.49%, smaller than the maximum SVARX drawdown of -6.48%. Use the drawdown chart below to compare losses from any high point for VNLA and SVARX.

Drawdown Indicators

	VNLA	SVARX	Difference
Max Drawdown Largest peak-to-trough decline	-4.49%	-6.48%	+1.99%
Max Drawdown (1Y) Largest decline over 1 year	-0.43%	-2.55%	+2.12%
Max Drawdown (3Y) Largest decline over 3 years	-0.49%	-2.55%	+2.06%
Max Drawdown (5Y) Largest decline over 5 years	-1.76%	-6.48%	+4.72%
Max Drawdown (10Y) Largest decline over 10 years	—	-6.48%	—
Current Drawdown Current decline from peak	0.00%	-1.36%	+1.36%
Average Drawdown Average peak-to-trough decline	-0.23%	-1.22%	+0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.08%	1.08%	-1.00%

Volatility

VNLA vs. SVARX - Volatility Comparison

The current volatility for Janus Henderson Short Duration Income ETF (VNLA) is 0.18%, while Spectrum Low Volatility Fund (SVARX) has a volatility of 0.62%. This indicates that VNLA experiences smaller price fluctuations and is considered to be less risky than SVARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNLA	SVARX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.18%	0.62%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	0.46%	2.15%	-1.69%
Volatility (1Y) Calculated over the trailing 1-year period	0.63%	2.66%	-2.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.04%	3.09%	-2.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.42%	3.68%	-2.26%

VNLA vs. SVARX - Expense Ratio Comparison

VNLA has a 0.23% expense ratio, which is lower than SVARX's 2.34% expense ratio.

Dividends

VNLA vs. SVARX - Dividend Comparison

VNLA's dividend yield for the trailing twelve months is around 4.78%, less than SVARX's 5.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SVARX Spectrum Low Volatility Fund	5.86%	5.95%	9.35%	3.35%	0.00%	5.85%	0.71%	4.91%	2.41%	6.90%	9.07%	3.02%
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%	0.00%

Frequently Asked Questions

Can I hold both VNLA and SVARX in my portfolio?

VNLA and SVARX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VNLA or SVARX?

SVARX has higher volatility (0.62%) compared to VNLA (0.18%). In terms of maximum drawdown, VNLA dropped -4.49% vs SVARX's -6.48%.

Which has better risk-adjusted returns?

VNLA currently has the higher Sharpe Ratio (7.55 vs 2.28), 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.