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
$50.46
As of 01/25/2021

1-Day Change
$0.02 (0.04%)
As of 01/25/2021

YTD Return
-0.04%
As of 01/25/2021

Morningstar Rating

As of 12/31/2020

Overview

Quarterly Update

Watch the investment team recap this quarter.

Striving to Deliver Cash PLUS 2%-3% 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)

Globe-Wireframe

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.

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

Janus Henderson Investors

VNLA – Our Cash PLUS ETF

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

PORTFOLIO MANAGEMENT

Nick Maroutsos

Head of Global Bonds | Portfolio Manager

Industry since 1999. Joined Firm in 2015.

Daniel Siluk

Portfolio Manager

Industry since 2003. Joined Firm in 2015.

Jason England

Portfolio Manager

Industry since 1994. Joined Firm in 2017.

Performance

RETURNS (%) (As of 12/31/2020)
NAV Market Price FTSE 3-Month Treasury Bill Index
 
3M YTD 1YR 3YR Since Inception
(11/16/2016)
NAV 0.47 3.07 3.07 2.97 2.67
Market Price 0.35 2.99 2.99 2.92 2.66
FTSE 3-Month Treasury Bill Index 0.02 0.58 0.58 1.56 1.43
RETURNS (%) (As of 12/31/2020)
NAV Market Price FTSE 3-Month Treasury Bill Index
 
3M YTD 1YR 3YR Since Inception
(11/16/2016)
NAV 0.47 3.07 3.07 2.97 2.67
Market Price 0.35 2.99 2.99 2.92 2.66
FTSE 3-Month Treasury Bill Index 0.02 0.58 0.58 1.56 1.38

PREMIUM/DISCOUNT HISTORY

FREQUENCY DISTRIBUTION OF PREMIUMS AND DISCOUNTS

Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 7 10 46 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 11.11% 15.87% 73.02% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 1 2 61 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 1.56% 3.13% 95.31% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 7 4 51 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 11.11% 6.35% 80.95% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 1 2 2 6 4 46 0 0 0
Percent of Total Days 1.61% 3.23% 3.23% 9.68% 6.45% 74.19% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 15 11 36 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 23.44% 17.19% 56.25% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 13 14 36 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 20.31% 21.88% 56.25% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 26 13 22 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 41.27% 20.63% 34.92% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 23 5 32 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 37.70% 8.20% 52.46% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 7 0 56 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 11.11% 0.00% 88.89% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 0 0 63 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 0.00% 0.00% 100.00% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 0 0 64 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 0.00% 0.00% 100.00% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 1 0 60 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 1.64% 0.00% 98.36% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 0 1 60 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 0.00% 1.59% 95.24% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 0 0 63 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 0.00% 0.00% 100.00% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 1 0 62 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 1.59% 0.00% 98.41% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 13 4 45 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 20.97% 6.45% 72.58% 0.00% 0.00% 0.00%
Market price below NAV Market price equal to NAV Market price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 0 0 30 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 0.00% 0.00% 100.00% 0.00% 0.00% 0.00%
DISTRIBUTION OVERVIEW
Ex-DateRecord DatePayable DateOrdinary IncomeShort-Term Capital GainsLong-Term Capital GainsTotal Distribution
12/30/202012/31/202001/06/2021$0.047782$0.000000$0.000000$0.047782
12/01/2020 12/02/2020 12/07/2020 $0.022732 $0.000000$0.000000$0.022732
11/02/202011/03/202011/06/2020$0.021257$0.000000$0.000000$0.021257
10/01/202010/02/202010/07/2020$0.022681$0.000000$0.000000$0.022681
09/01/202009/02/202009/08/2020$0.030330$0.000000$0.000000$0.030330
08/03/202008/04/202008/07/2020$0.050817$0.000000$0.000000$0.050817
07/01/202007/02/202007/08/2020$0.051403$0.000000$0.000000$0.051403
06/01/202006/02/202006/05/2020$0.055602$0.000000$0.000000$0.055602
05/01/202005/04/202005/07/2020$0.065177$0.000000$0.000000$0.065177
04/01/202004/02/202004/07/2020$0.079488$0.000000$0.000000$0.079488
03/02/2020 03/03/2020 03/06/2020 $0.076254 $0.000000 $0.000000 $0.076254
02/03/2020 02/04/2020 02/07/2020 $0.089098 $0.000000 $0.000000 $0.089098
12/30/201912/31/201901/06/2020$0.129170$0.000000$0.000000$0.129170
12/02/2019 12/03/2019 12/06/2019 $0.219094 $0.000000 $0.000000 $0.219094
11/01/2019 11/04/201911/07/2019$0.092608$0.000000$0.000000$0.092608
10/01/201910/02/201910/07/2019 $0.183301 $0.000000$0.000000$0.183301
09/03/2019 09/04/201909/09/2019$0.103241$0.000000$0.000000$0.103241
08/01/2019 08/02/2019 08/07/2019 $0.117192$0.000000$0.000000$0.117192
07/01/2019 07/02/2019 07/08/2019 $0.106635$0.000000$0.000000$0.106635
06/03/2019 06/04/2019 06/07/2019 $0.112083$0.000000$0.000000$0.112083
05/01/2019 05/02/2019 05/07/2019 $0.107656$0.000000$0.000000$0.107656
04/01/2019 04/02/2019 04/05/2019 $0.181587$0.000000$0.000000$0.181587
03/01/2019 03/04/2019 03/07/2019 $0.111868$0.000000$0.000000$0.111868
02/01/2019 02/04/2019 02/07/2019 $0.086182$0.000000$0.000000$0.086182
12/27/2018 12/28/2018 01/03/2018 $0.147492$0.252288$0.392125$0.791905
12/03/2018 12/04/2018 12/07/2018 $0.081154$0.000000$0.000000$0.081154
11/01/2018 11/02/2018 11/07/2018 $0.089646$0.000000$0.000000$0.089646
10/01/2018 10/02/2018 10/05/2018 $0.132742$0.000000$0.000000$0.132742
09/04/2018 09/05/2018 09/10/2018 $0.112921$0.000000$0.000000$0.112921
08/01/2018 08/02/2018 08/07/2018 $0.113682$0.000000$0.000000$0.113682
07/02/2018 07/03/2018 07/09/2018 $0.083218$0.000000$0.000000$0.083218
06/01/2018 06/04/2018 06/07/2018 $0.075564$0.000000$0.000000$0.075564
05/01/2018 05/02/2018 05/07/2018 $0.106898$0.000000$0.000000$0.106898
04/02/2018 04/03/2018 04/06/2018 $0.076017$0.000000$0.000000$0.076017
03/01/2018 03/02/2018 03/07/2018 $0.089409$0.000000$0.000000$0.089409
02/01/2018 02/02/2018 02/07/2018 $0.080882$0.000000$0.000000$0.080882
12/27/2017 12/28/2017 01/02/2018 $0.135978$0.000000$0.000000$0.135978
12/01/2017 12/04/2017 12/07/2017 $0.117687$0.000000$0.000000$0.117687
11/01/2017 11/02/2017 11/07/2017 $0.108801$0.000000$0.000000$0.108801
10/02/2017 10/03/2017 10/06/2017 $0.099298$0.000000$0.000000$0.099298
09/01/2017 09/06/2017 09/08/2017 $0.047273$0.000000$0.000000$0.047273
08/01/2017 08/03/2017 08/07/2017 $0.049412$0.000000$0.000000$0.049412
07/03/2017 07/06/2017 07/10/2017 $0.049085$0.000000$0.000000$0.049085
06/01/2017 06/05/2017 06/07/2017 $0.052921$0.000000$0.000000$0.052921
05/01/2017 05/03/2017 05/05/2017 $0.087679$0.000000$0.000000$0.087679
04/03/2017 04/05/2017 04/07/2017 $0.074476$0.000000$0.000000$0.074476
03/01/2017 03/03/2017 03/07/2017 $0.051472$0.000000$0.000000$0.051472
02/01/2017 02/03/2017 02/07/2017 $0.025395$0.000000$0.000000$0.025395
12/28/2016 12/30/2016 01/03/2017 $0.040782$0.000000$0.000000$0.040782

MORNINGSTAR PERCENTILE

(As Of 12/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 3 4 - - 4
Ultrashort Bond Category|Rank/Count 4/216 6/194 -/- -/- 8/185
(As Of 12/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 3 4 - - 4
Ultrashort Bond Category|Rank/Count 4/216 6/194 -/- -/- 8/185

Portfolio

Index represents the FTSE 3-Month Treasury Bill Index.

Top Holdings (As of 01/25/2021)
% of Fund
Georgia-Pacific LLC 0.625% 15-MAY-2024 0.92
AGL Energy Limited 5.0% 05-NOV-2021 0.86
Australia & New Zealand Banking Group Ltd|2.95|07/22/2030 0.83
Wells Fargo & Company 1.654% 01-JUN-2024 0.80
Citigroup Inc. 28-JAN-2027 0.77
Hewlett Packard Enterprise Company 1.45% 01-APR-2024 0.74
Johnson & Johnson 0.55% 01-SEP-2025 0.73
JPMorgan Chase & Co. 1.045% 19-NOV-2026 0.70
Bank of Montreal FRN 08-DEC-2023 0.70
Chevron U.S.A., Inc. FRN 12-AUG-2022 0.70
View Full Holdings

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