Please ensure Javascript is enabled for purposes of website accessibility Short Duration Income ETF - Janus Henderson Investors
For Financial Professionals in the US

VNLA Short Duration Income ETF

Our Cash PLUS ETF - A capital preservation and income-focused ETF that seeks returns above cash

NAV
$48.43
As of 05/20/2024

1-Day Change
$0.01 (0.02%)
As of 05/20/2024

YTD Return
1.82%
As of 05/20/2024

Morningstar Rating

As of 04/30/2024

Overview

Striving to Deliver Cash PLUS 2% from Investments

An ETF seeking global fixed income investments that can provide return above FTSE 3-Month U.S. Treasury Bill Index (a proxy for cash)

Close-Up Of Magnifying Glass Against BlueBackground.Studio shot

Investors in VNLA may

  • Want to put cash to work to seek a steady income stream
  • Seek higher returns on cash than a money market fund
  • Place high priority on capital preservation
  • Be looking to diversify their fixed income allocation
  • Want intra-day liquidity for near-term needs

The Fund may be subject to greater investment risk than a money market fund.

In Your Portfolio

VNLA's targeted absolute return, coupled with a focus on risk, make it an attractive option for investors. By keeping duration low, the Fund seeks to minimize interest rate risk.

vnla target return

Hypothetical examples are for illustrative purposes only and do not represent the returns of any particular investment.

Differences between compared investments may include objectives, sales and management fees, liquidity, volatility, tax features and other features, which may result in differences in performance.

Benefits of an Absolute Return Approach

Without benchmark constraints, the fund is free to invest across global fixed income markets, giving the portfolio managers the latitude to:

  • Fully express their high-conviction active views
  • Avoid areas of the market where they see greater downside risk
  • Make what they believe to be the best investment decisions on behalf of investors.

Investment Process

STRUCTURAL ALPHA

Investments with Alpha-Generating Potential

An opportunity set that may leverage derivatives through alpha seeking or protection strategies to express our view on global credit, interest rates, and duration

YIELD FOUNDATION

Short-Term Fixed Income Investments

Predominantly high-quality investment grade short-duration fixed income assets, diversified across sectors and geographies worldwide

VNLA-Investment-Process-Graphic-Revised-2023

VNLA – Our Cash PLUS ETF

An Active, Global Absolute Return Approach to Put Cash to Work

PORTFOLIO MANAGEMENT

Daniel Siluk

Head of Global Short Duration & Liquidity | Portfolio Manager

Industry since 2004. Joined Firm in 2015.

Addison Maier

Portfolio Manager

Industry since 2011. Joined Firm in 2011.

Performance

RETURNS (%) (As of 03/31/2024)
Nav Market-Price FTSE 3-Month U.S. Treasury Bill Index
 
3M YTD 1YR 3YR 5YR Since Inception
(11/16/2016)
Nav 1.15 1.15 5.97 2.40 2.48 2.41
Market-Price 1.13 1.13 5.90 2.39 2.46 2.41
FTSE 3-Month U.S. Treasury Bill Index 1.37 1.37 5.52 2.70 2.07 1.86
RETURNS (%) (As of 04/30/2024)
Nav Market-Price FTSE 3-Month U.S. Treasury Bill Index
 
3M YTD 1YR 3YR 5YR Since Inception
(11/16/2016)
Nav 0.77 1.34 5.65 2.42 2.43 2.41
Market-Price 0.77 1.31 5.56 2.42 2.42 2.41
FTSE 3-Month U.S. Treasury Bill Index 1.35 1.83 5.57 2.86 2.12 1.90
Calendar Year Returns (%)
Nav FTSE 3-Month U.S. Treasury Bill Index
2023 2022 2021 2020 2019 2018 2017
Nav 6.02 -0.08 -0.18 3.07 4.28 1.58 2.07
FTSE 3-Month U.S. Treasury Bill Index 5.26 1.50 0.05 0.58 2.25 1.86 0.84

MORNINGSTAR PERCENTILE

(As Of 03/31/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 43 54 19 - 19
Ultrashort Bond | Rank/Count 113/243 109/213 34/201 -/- 29/181
(As Of 04/30/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 52 63 23 - 20
Ultrashort Bond | Rank / Count 140/243 131/214 43/202 -/- 31/181

GROWTH OF A HYPOTHETICAL INVESTMENT

@Nav FTSE 3-Month U.S. Treasury Bill Index Ultrashort Bond

RETURNS-BASED STATISTICS (As of 04/30/2024 )

RISK / REWARD
VS. FTSE 3-Month U.S. Treasury Bill
3YR 5YR
Information Ratio -0.47 0.23
Alpha -0.40 0.43
Tracking Error 0.91 1.35
Beta 1.51 -1.30
R-squared (%) 49.83 17.04
UP/DOWN MARKET CAPTURE (%)
VS. FTSE 3-Month U.S. Treasury Bill
3YR 5YR
Up Capture Ratio 84.74 115.16
Down Capture Ratio - -
STANDARD DEVIATION 3YR 5YR
Short Duration Income ETF 1.25 1.48
FTSE 3-Month U.S. Treasury Bill 0.69 0.61
SHARPE RATIO 3YR 5YR
Short Duration Income ETF -0.37 0.24
FTSE 3-Month U.S. Treasury Bill -0.06 0.08

PREMIUM/DISCOUNT HISTORY

DISTRIBUTION OVERVIEW
Ex-DateRecord DatePayable DateOrdinary IncomeShort-Term Capital GainsLong-Term Capital GainsTotal Distribution
05/01/202405/02/202405/07/2024$0.199931$0.000000$0.000000$0.199931
04/01/202404/02/202404/05/2024$0.198809$0.000000$0.000000$0.198809
03/01/202403/04/202403/07/2024$0.193838$0.000000$0.000000$0.193838
02/01/202402/02/202402/07/2024$0.189712$0.000000$0.000000$0.189712
12/22/202312/26/202312/29/2023$0.186297$0.000000$0.000000$0.186297
12/01/202312/04/202312/07/20230.1670030$0.000000$0.0000000.1670030
11/01/202311/02/202311/07/2023$0.175108$0.000000$0.000000$0.175108
10/02/202310/03/202310/06/2023$0.171134$0.000000$0.000000$0.171134
View Full History

Portfolio

Index represents the FTSE 3-Month Treasury Bill Index.

Top Holdings (As of 05/20/2024)
% of Fund
Citigroup Inc. 5.61% 29-SEP-2026 1.57
Goldman Sachs Bank USA 5.283% 18-MAR-2027 1.50
Credit Agricole S.A. 5.134% 11-MAR-2027 1.48
Morgan Stanley Bank, N.A. 4.952% 14-JAN-2028 1.39
Macquarie Group Limited 6.207% 22-NOV-2024 1.33
Janus Detroit Street Trust Janus Henderson AAA CLO ETF 1.24
Pfizer Investment Enterprises Pte. Ltd. 4.45% 19-MAY-2026 1.15
Bank Australia Limited FRN 21-FEB-2028 1.15
GE Healthcare Technologies Inc. 5.55% 15-NOV-2024 1.10
Bank of America Corporation 1.319% 19-JUN-2026 1.06
View full holdings
Portfolio Characteristics (As of 05/17/2024)
 
Number of Holdings
Debt Issues
216
Portfolio Turnover Rate
(1-year trailing)
39.06%
Weighted Average Maturity
(years)
2.12
Effective Duration
(years)
1.09
Yield to Worst
5.73%
Sector Allocation % of Fund % of Fund As of 05/17/2024
Regional Allocation % of Fund % of Fund As of 05/17/2024
Developed vs Emerging Markets % of Fund % of Fund As of 05/17/2024
Credit Quality of Fixed Income Holdings % of Fund % of Fund As of 05/17/2024
Maturity Breakdown of Fixed Income Holdings % of Fund % of Fund As of 05/17/2024

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