For Institutional Investors 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
$48.62
As of 11/25/2022

1-Day Change
$0.01 (0.02%)
As of 11/25/2022

YTD Return
-0.69%
As of 11/25/2022

Morningstar Rating

As of 10/31/2022

Overview

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)

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

Janus Henderson Investors

VNLA – Our Cash PLUS ETF

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

PORTFOLIO MANAGEMENT

Daniel Siluk

Portfolio Manager

Industry since 2004. Joined Firm in 2015.

Jason England

Portfolio Manager

Industry since 1994. Joined Firm in 2017.

Performance

RETURNS (%) (As of 09/30/2022)
NAV Market Price FTSE 3-Month Treasury Bill Index
 
3M YTD 1YR 3YR 5YR Since Inception
(11/16/2016)
NAV 0.25 -1.22 -1.43 0.66 1.58 1.62
Market Price 0.11 -1.26 -1.55 0.64 1.56 1.61
FTSE 3-Month Treasury Bill Index 0.45 0.62 0.63 0.57 1.13 1.06
RETURNS (%) (As of 10/31/2022)
NAV Market Price FTSE 3-Month Treasury Bill Index
 
3M YTD 1YR 3YR 5YR Since Inception
(11/16/2016)
NAV -0.19 -1.19 -1.18 0.64 1.54 1.60
Market Price -0.17 -1.27 -1.32 0.60 1.50 1.59
FTSE 3-Month Treasury Bill Index 0.59 0.87 0.88 0.60 1.16 1.09
Calendar Year Returns (%)
NAV Market Price FTSE 3-Month Treasury Bill Index
2021 2020 2019 2018 2017
NAV -0.18 3.07 4.28 1.58 2.07
Market Price -0.18 2.99 4.39 1.42 2.13
FTSE 3-Month Treasury Bill Index 0.05 0.58 2.25 1.86 0.84

PREMIUM/DISCOUNT HISTORY

DISTRIBUTION OVERVIEW
Ex-DateRecord DatePayable DateOrdinary IncomeShort-Term Capital GainsLong-Term Capital GainsTotal Distribution
11/01/202211/02/202211/07/2022$0.094732$0.000000$0.000000$0.094732
10/03/202210/04/202210/07/2022$0.086027 $0.000000$0.000000$0.086027
09/01/202209/02/202209/08/2022$0.065534$0.000000$0.000000$0.065534
08/01/202208/02/202208/05/2022$0.065834$0.000000$0.000000$0.065834
07/01/202207/05/202207/08/2022$0.051292 $0.000000$0.000000$0.051292
06/01/202206/02/202206/07/2022$0.050338$0.000000$0.000000$0.050338
05/02/202205/03/202205/06/2022$0.047985$0.000000$0.000000$0.047985
View Full History

MORNINGSTAR PERCENTILE

(As Of 09/30/2022)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 58 29 10 - 12
Ultrashort Bond Category|Rank/Count 136/241 55/228 13/208 -/- 16/202
(As Of 10/31/2022)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 54 27 10 - 11
Ultrashort Bond Category|Rank/Count 122/239 48/227 13/207 -/- 14/201

Portfolio

Index represents the FTSE 3-Month Treasury Bill Index.

Top Holdings (As of 11/25/2022)
% of Fund
New Zealand 0.5% 15-MAY-2024 4.88
Citigroup Inc. 5.61% 29-SEP-2026 1.43
Bank of America Corporation 1.319% 19-JUN-2026 1.36
JPMorgan Chase & Co. 4.323% 26-APR-2028 1.21
Macquarie Group Ltd|6.207|11/22/2024 1.18
Banco Santander, S.A. 3.496% 24-MAR-2025 1.12
Janus Detroit Street Trust Janus Henderson AAA CLO ETF 1.10
Royal Bank of Canada 5.66% 25-OCT-2024 1.07
Morgan Stanley 6.138% 16-OCT-2026 1.06
AT&T Inc. 0.9% 25-MAR-2024 1.02
View full holdings
Portfolio Characteristics (As of 11/23/2022)
 
Number of Holdings
Debt Issues
264
Portfolio Turnover Rate
(1-year trailing)
40.73%
Weighted Average Maturity
(years)
1.29
Effective Duration
(years)
0.31
Yield to Worst
5.36%

Yield to Worst calculation excludes cash.

Sector Allocation % OF FUND % OF FUND (As of 11/23/2022)
Regional Allocation % OF FUND % OF FUND (As of November 23, 2022)
Developed vs Emerging Markets % OF FUND % OF FUND (As of November 23, 2022)
Maturity Breakdown of Fixed Income Holdings % OF FUND % OF FUND (As of 11/23/2022)
Credit Quality of Fixed Income Holdings % OF FUND % OF FUND (As of November 23, 2022)

Documents