VPLS vs. JSMD

Last updated Jun 14, 2026

VPLS (Vanguard Core-Plus Bond ETF) and JSMD (Janus Henderson Small/Mid Cap Growth Alpha ETF) are both exchange-traded funds - VPLS is a Intermediate Core-Plus Bond fund actively managed by Vanguard, while JSMD is a Mid Cap Growth Equities fund tracking the Janus Small Mid Cap Growth Alpha Index. VPLS is actively managed, while JSMD is passively managed. Over the past year, VPLS returned 5.65% vs 30.30% for JSMD. At a 0.29 correlation, their price movements are largely independent. VPLS charges 0.20%/yr vs 0.30%/yr for JSMD.

Performance

VPLS vs. JSMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Core-Plus Bond ETF (VPLS) and Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VPLS achieves a 0.90% return, which is significantly lower than JSMD's 18.04% return.

VPLS

• 1D: 0.01%
• 1M: 1.11%
• YTD: 0.90%
• 6M: 1.35%
• 1Y: 5.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JSMD

• 1D: 0.29%
• 1M: 4.71%
• YTD: 18.04%
• 6M: 15.17%
• 1Y: 30.30%
• 3Y*: 17.13%
• 5Y*: 7.74%
• 10Y*: 13.65%

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

VPLS vs. JSMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VPLS Vanguard Core-Plus Bond ETF	0.90%	7.86%	2.72%	2.83%
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	18.04%	9.25%	15.08%	9.62%

Correlation

The correlation between VPLS and JSMD is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023	0.29

Return for Risk

VPLS vs. JSMD — Risk / Return Rank

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

VPLS

VPLS Risk / Return Rank: 46
VPLS Sharpe Ratio Rank: 48
VPLS Sortino Ratio Rank: 50
VPLS Omega Ratio Rank: 46
VPLS Calmar Ratio Rank: 44
VPLS Martin Ratio Rank: 43

JSMD

JSMD Risk / Return Rank: 35
JSMD Sharpe Ratio Rank: 34
JSMD Sortino Ratio Rank: 33
JSMD Omega Ratio Rank: 32
JSMD Calmar Ratio Rank: 37
JSMD Martin Ratio Rank: 39

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.

VPLS vs. JSMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond ETF (VPLS) and Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VPLS	JSMD	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.07	+0.39
Sortino ratio: Return per unit of downside risk	2.16	1.55	+0.61
Omega ratio: Gain probability vs. loss probability	1.26	1.19	+0.07
Calmar ratio: Return relative to maximum drawdown	1.94	1.60	+0.33
Martin ratio: Return relative to average drawdown	6.12	5.42	+0.70

VPLS vs. JSMD - Sharpe Ratio Comparison

The current VPLS Sharpe Ratio is 1.46, which is higher than the JSMD Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of VPLS and JSMD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VPLS vs. JSMD - Drawdown Comparison

The maximum VPLS drawdown since its inception was -4.17%, smaller than the maximum JSMD drawdown of -38.98%. Use the drawdown chart below to compare losses from any high point for VPLS and JSMD.

Drawdown Indicators

	VPLS	JSMD	Difference
Max Drawdown Largest peak-to-trough decline	-4.17%	-38.98%	+34.81%
Max Drawdown (1Y) Largest decline over 1 year	-2.72%	-14.86%	+12.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.98%	—
Current Drawdown Current decline from peak	-0.95%	-1.17%	+0.22%
Average Drawdown Average peak-to-trough decline	-1.01%	-7.47%	+6.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	4.43%	-3.57%

Volatility

VPLS vs. JSMD - Volatility Comparison

The current volatility for Vanguard Core-Plus Bond ETF (VPLS) is 1.28%, while Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) has a volatility of 8.22%. This indicates that VPLS experiences smaller price fluctuations and is considered to be less risky than JSMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VPLS	JSMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	8.22%	-6.94%
Volatility (6M) Calculated over the trailing 6-month period	2.75%	17.21%	-14.46%
Volatility (1Y) Calculated over the trailing 1-year period	3.62%	22.48%	-18.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.60%	22.98%	-18.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.60%	22.82%	-18.22%

VPLS vs. JSMD - Expense Ratio Comparison

VPLS has a 0.20% expense ratio, which is lower than JSMD's 0.30% expense ratio.

Dividends

VPLS vs. JSMD - Dividend Comparison

VPLS's dividend yield for the trailing twelve months is around 4.75%, more than JSMD's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	0.47%	0.54%	0.76%	0.44%	0.40%	0.28%	0.24%	0.32%	0.53%	0.30%	0.36%
VPLS Vanguard Core-Plus Bond ETF	4.75%	4.78%	4.52%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VPLS and JSMD in my portfolio?

VPLS and JSMD have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VPLS or JSMD?

JSMD has higher volatility (8.22%) compared to VPLS (1.28%). In terms of maximum drawdown, VPLS dropped -4.17% vs JSMD's -38.98%.

Which ETF is better, VPLS or JSMD?

On 1-year performance, JSMD leads with 30.30% vs 5.65% for VPLS. On fees, VPLS is cheaper at 0.20% per year. On volatility, VPLS has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VPLS or JSMD?

Over the 1-year period, JSMD has performed better with a 30.30% return vs 5.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VPLS or JSMD?

VPLS is cheaper with a 0.20% expense ratio, compared with 0.30% for JSMD.

Which ETF pays a higher dividend yield, VPLS or JSMD?

VPLS has the higher dividend yield at 4.75%, compared with 0.47% for JSMD.

What is the main difference between VPLS and JSMD?

VPLS is categorized as Intermediate Core-Plus Bond, while JSMD is Mid Cap Growth Equities. They also come from different issuers: Vanguard and Janus Henderson. Their fees differ too: 0.20% for VPLS and 0.30% for JSMD.

Which has better risk-adjusted returns?

VPLS currently has the higher Sharpe Ratio (1.46 vs 1.07), 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.