VUSB vs. VNLA
VUSB (Vanguard Ultra-Short Bond ETF) and VNLA (Janus Henderson Short Duration Income ETF) are both Ultrashort Bond funds. VUSB is actively managed, while VNLA is passively managed. Over the past 5 years, VUSB returned 3.54%/yr vs 3.92%/yr for VNLA. Their 0.47 correlation means their historical movements had little consistent relationship. VUSB charges 0.10%/yr vs 0.23%/yr for VNLA.
Performance
VUSB vs. VNLA - Performance Comparison
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Returns By Period
In the year-to-date period, VUSB achieves a 1.96% return, which is significantly lower than VNLA's 2.08% return.
VUSB
- 1D
- 0.02%
- 1M
- 0.24%
- 6M
- 1.57%
- YTD
- 1.96%
- 1Y
- 4.09%
- 3Y*
- 5.25%
- 5Y*
- 3.54%
- 10Y*
- —
- ALL TIME*
- 3.37%
VNLA
- 1D
- 0.04%
- 1M
- 0.21%
- 6M
- 1.63%
- YTD
- 2.08%
- 1Y
- 4.27%
- 3Y*
- 5.65%
- 5Y*
- 3.92%
- 10Y*
- —
- ALL TIME*
- 2.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $19.97M | $17.51M | $18.61M | |
| $68.77M | $73.10M | $81.38M |
VUSB vs. VNLA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VUSB Vanguard Ultra-Short Bond ETF | 1.96% | 5.20% | 5.68% | 5.52% | -0.36% | 0.08% |
VNLA Janus Henderson Short Duration Income ETF | 2.08% | 5.45% | 6.41% | 6.09% | -0.17% | 0.22% |
Correlation
The correlation between VUSB and VNLA is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.60 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2021 | 0.47 |
The correlation between VUSB and VNLA shifts across timeframes, from 0.47 (all time) to 0.60 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VUSB vs. VNLA — Risk / Return Rank
VUSB
VNLA
VUSB vs. VNLA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Ultra-Short Bond ETF (VUSB) and Janus Henderson Short Duration Income ETF (VNLA). 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.
| VUSB | VNLA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -3.15 | ||
| Omega ratioGain probability vs. loss probability | 3.04 | 3.30 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 11.62 | 10.46 | +1.16 |
| Martin ratioReturn relative to average drawdown | 65.56 | 53.53 | +12.03 |
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Drawdowns
VUSB vs. VNLA - Drawdown Comparison
The maximum VUSB drawdown since its inception was -1.79%, smaller than the maximum VNLA drawdown of -4.49%. Use the drawdown chart below to compare losses from any high point for VUSB and VNLA.
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Drawdown Indicators
| VUSB | VNLA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.79% | -4.49% | +2.70% |
Max Drawdown (1Y)Largest decline over 1 year | -0.37% | -0.43% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -0.46% | -0.49% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -1.79% | -1.76% | -0.03% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.27% | -0.23% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 0.08% | -0.01% |
Volatility
VUSB vs. VNLA - Volatility Comparison
The current volatility for Vanguard Ultra-Short Bond ETF (VUSB) is 0.16%, while Janus Henderson Short Duration Income ETF (VNLA) has a volatility of 0.17%. This indicates that VUSB experiences smaller price fluctuations and is considered to be less risky than VNLA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUSB | VNLA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.16% | 0.17% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.57% | 0.50% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.67% | 0.64% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.84% | 1.04% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.82% | 1.42% | -0.60% |
VUSB vs. VNLA - Expense Ratio Comparison
VUSB has a 0.10% expense ratio, which is lower than VNLA's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VUSB vs. VNLA - Dividend Comparison
VUSB's dividend yield for the trailing twelve months is around 4.34%, less than VNLA's 5.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
VNLA Janus Henderson Short Duration Income ETF | 4.74% | 4.84% | 4.97% | 3.95% | 4.35% | 1.67% | 1.21% | 3.13% | 2.43% | 1.79% | 0.08% |
VUSB Vanguard Ultra-Short Bond ETF | 3.95% | 4.63% | 5.16% | 4.45% | 1.56% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VUSB and VNLA have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNLA has higher volatility (0.17%) compared to VUSB (0.16%). In terms of maximum drawdown, VUSB dropped -1.79% vs VNLA's -4.49%.
On 5-year performance, VNLA leads with 3.92% vs 3.54% for VUSB. On fees, VUSB is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VNLA has performed better with a 3.92% return vs 3.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VUSB is cheaper with a 0.10% expense ratio, compared with 0.23% for VNLA.
VNLA has the higher dividend yield at 4.74%, compared with 3.95% for VUSB.
They also come from different issuers: Vanguard and Janus Henderson. Their fees differ too: 0.10% for VUSB and 0.23% for VNLA.
VNLA currently has the higher Sharpe Ratio (7.03 vs 6.39), 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.
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