VNLAvsRAVIETF Comparison
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Janus Short Duration Income ETF (VNLA) and Northern Trust Ultra-Short Fixed Income ETF (RAVI) belong to the same industry segment: Intl IG Bonds. VNLA's top 3 sector exposures are Finance, Industrials and Utilities. In contrast, RAVI's top sector exposures are Finance, Healthcare and Industrials. VNLA is less expensive with a Total Expense Ratio (TER) of 0.23%, versus 0.26% for RAVI. VNLA is up 2.73% year-to-date (YTD) with +$832M in YTD flows. RAVI performs better with 2.89% YTD performance, and +$232M in YTD flows. Run a side-by-side ETF comparison of VNLA and RAVI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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VNLA vs RAVI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VNLA RAVI | +0.36%+0.33% | +0.81%+0.88% | +2.73%+2.89% | +3.60%+3.74% | +17.45%+15.58% | +21.95%+20.33% |
| Flows | VNLA RAVI | +$224M+$10M | +$358M+$134M | +$832M+$232M | +$935M+$248M | +$1.30B+$536M | +$953M+$1.24B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VNLA RAVI | +0.55%+0.31% | +0.53%+0.32% | +0.63%+0.36% | +0.69%+0.45% |
| Max drawdown | VNLA RAVI | -0.16%-0.05% | -0.39%-0.09% | -0.39%-0.39% | -1.62%-1.52% |
| Max drawdown duration | VNLA RAVI | 28d7d | 37d18d | 37d21d | 440d422d |
Trading data
VNLA | RAVI | |
Last sale 10/23/2026 at 1:30 PM | $48.74 | $75.18 |
| Previous close 10/22/2026 | $48.74 | $75.16 |
| Consolidated volume 10/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/23/2026 at 1:30 PM
Live
Closed
VNLA | RAVI | |
|---|---|---|
| Last price | $48.74 | $75.18 |
| 1D performance | +0.00% | +0.03% |
| AuM | $3.68 B | $1.61 B |
| E/R | 0.23% | 0.26% |
Characteristics
VNLA | RAVI | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Janus Henderson Investors | Northern Trust |
| Benchmark | - | - |
| N° of holdings | 271 | 201 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 16, 2016 | October 9, 2012 |
| ESG | No | No |
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Exposure
Countries
VNLA
USA
51.12%
Australia
7.84%
Other
41.04%
RAVI
USA
58.33%
Other
41.67%
Sectors
VNLA
Finance
48.41%
Industrials
10.8%
Other
40.79%
RAVI
Finance
44.95%
Healthcare
9.44%
Other
45.61%
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Diversification
VNLA
Total weight of top 15 holdings out of 15
12.02%
RAVI
Total weight of top 15 holdings out of 15
19.89%
Top 15 holdings
Data as of August 31, 2026
VNLA
Morgan Stanley Bank, N.A., 4.952% 14jan2028, USD (A)
1.28%
US37961DJ195
1.16%
US04022DJM02
0.90%
Bank Australia Ltd, FRN 21feb2028, AUD
0.80%
Atlas Warehouse Lending, 6.05% 15jan2028, USD
0.76%
Molex Electronic Technologies, 4.75% 30apr2028, USD
0.75%
Goldman Sachs, FRN 21jan2029, USD
0.73%
Wells Fargo, FRN 20may2029, USD (Y)
0.73%
US85855KJ294
0.73%
Bank of America Corporation, 4.979% 24jan2029, USD (N)
0.72%
Australia and New Zealand Banking Group, 5.545% 15jan2035, AUD (194)
0.71%
Atlas Warehouse Lending, 4.625% 15nov2028, USD
0.71%
Universal Health Services, 1.65% 1sep2026, USD
0.69%
Columbia Pipelines HoldCo, 6.042% 15aug2028, USD
0.68%
LPL Holdings, 4.625% 15nov2027, USD
0.68%
RAVI
Walt Disney, FRN 14mar2029, USD
2.57%
Merck & Co, FRN 15mar2029, USD
1.82%
Bank of America Corporation, FRN 9may2029, USD (N)
1.60%
Abbott Laboratories, FRN 9mar2029, USD
1.53%
AT&T Inc, 3.8% 15feb2027, USD
1.51%
Ingersoll Rand, 5.197% 15jun2027, USD
1.33%
Royal Bank of Canada, FRN 10jul2029, USD
1.32%
Truist Bank, FRN 27jan2029, USD (I)
1.19%
Chevron U.S.A., FRN 13aug2028, USD
1.14%
Sanofi, FRN 3nov2028, USD
1.10%
Amazon.com, FRN 9jul2029, USD
0.99%
Reckitt Benckiser Group, 3% 26jun2027, USD
0.98%
Mizuho Financial Group, FRN 13jul2030, USD
0.96%
Australia and New Zealand Banking Group, FRN 8dec2028, USD
0.95%
Toyota Motor Credit, FRN 8jan2027, USD (B)
0.92%
Frequently asked questions about VNLA and RAVI
How have the VNLA and RAVI ETFs performed in 2026?
As of October 23, 2026, VNLA is up 2.73% year-to-date (YTD), while RAVI has returned 2.89%. That puts RAVI better performer ahead so far this year.
Which ETF is attracting more investor money: VNLA or RAVI?
Year-to-date, the VNLA ETF saw +$832M in flows, compared to +$232M for RAVI.
Which ETF is more volatile: VNLA or RAVI?
Over the past year, VNLA had a volatility of 0.53%, while RAVI experienced 0.32%.
Which ETF is bigger: VNLA or RAVI?
As of October 23, 2026, VNLA holds $3.68 B in assets under management (AUM), while RAVI manages $1.61 B.
What sectors do the VNLA and RAVI ETFs invest in?
VNLA leans toward sectors like Finance and Industrials. Meanwhile, RAVI focuses on Finance and Healthcare.
What are the top holdings of the VNLA ETF and RAVI ETF?
VNLA top holdings include Morgan Stanley Bank, N.A., 4.952% 14jan2028, USD (A), US37961DJ195 and US04022DJM02. RAVI holds in its top three: Walt Disney, FRN 14mar2029, USD, Merck & Co, FRN 15mar2029, USD and Bank of America Corporation, FRN 9may2029, USD (N).
Which ETF is more diversified: VNLA or RAVI?
VNLA holds 348 securities with 12.02% of its assets in the top 15. RAVI has 266 securities and a top 15 weight of 19.89%.
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