- ISIN
- US47103U2096
- CUSIP
- 47103U209
- Issuer
- Janus Henderson
- Inception Date
- Feb 25, 2016
- Region
- North America (U.S.)
- Category
- Mid Cap Growth Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Janus Small Mid Cap Growth Alpha Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $1B
Share Price Chart
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Performance
JSMD Performance Chart
Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) is up 21.0% since the beginning of the year. JSMD is currently trading at $99 per share. Investors who bought $1,000 worth of JSMD shares 5 years ago would now be looking at an investment worth $1,511.
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Returns By Period
Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) has returned 21.03% so far this year and 31.78% over the past 12 months. Over the last decade, JSMD has posted an annualized return of 14.05%, slightly higher than the S&P 500 Index benchmark’s 13.88%.
Janus Henderson Small/Mid Cap Growth Alpha ETF
- 1D
- 0.59%
- 1M
- 5.82%
- YTD
- 21.03%
- 6M
- 17.17%
- 1Y
- 31.78%
- 3Y*
- 19.09%
- 5Y*
- 8.61%
- 10Y*
- 14.05%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
JSMD Monthly Returns History
Based on dividend-adjusted daily data since Feb 25, 2016, JSMD's average daily return is +0.06%, while the average monthly return is +1.30%. At this rate, an investment would double in approximately 4.5 years.
Historically, 66% of months were positive and 34% were negative. The best month was Apr 2020 with a return of +16.4%, while the worst month was Mar 2020 at -19.0%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 3 months.
On a daily basis, JSMD closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +9.4%, while the worst single day was Mar 12, 2020 at -10.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.07% | 0.45% | -6.84% | 12.24% | 7.37% | 3.12% | 21.03% | ||||||
| 2025 | 3.73% | -6.06% | -4.23% | -1.26% | 7.32% | 4.86% | 2.10% | 4.26% | 1.31% | 0.34% | -0.64% | -2.01% | 9.25% |
| 2024 | -2.10% | 5.89% | 2.69% | -6.21% | 2.71% | -1.16% | 7.64% | -0.64% | 2.12% | -0.75% | 13.48% | -7.70% | 15.08% |
| 2023 | 10.98% | -1.37% | -1.41% | -0.48% | 1.75% | 9.42% | 4.79% | -4.75% | -5.70% | -6.01% | 8.29% | 10.69% | 26.81% |
| 2022 | -10.48% | -0.20% | 0.70% | -9.74% | 0.51% | -7.86% | 12.37% | -5.66% | -9.20% | 8.03% | 5.56% | -6.53% | -22.84% |
| 2021 | 3.30% | 1.76% | 1.86% | 1.65% | -0.94% | 0.05% | 0.31% | 1.46% | -5.58% | 4.60% | -3.25% | 3.34% | 8.40% |
Benchmark Metrics
Janus Henderson Small/Mid Cap Growth Alpha ETF has an annualized alpha of 0.71%, beta of 1.05, and R2 of 0.69 versus S&P 500 Index. Calculated based on daily prices since February 25, 2016.
- This ETF captured 114.12% of S&P 500 Index gains and 113.64% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- With beta of 1.05 and R2 of 0.69, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 0.71%
- Beta
- 1.05
- R²
- 0.69
- Upside Capture
- 114.12%
- Downside Capture
- 113.64%
Expense Ratio
JSMD has an expense ratio of 0.30%, placing it in the medium range.
Return for Risk
Risk / Return Rank
JSMD ranks 43 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) and compare them to S&P 500 Index.
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.
| JSMD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | 2.78 | -0.63 |
| Martin ratioReturn relative to average drawdown | 7.27 | 12.44 | -5.17 |
Dividends
Dividend History
Janus Henderson Small/Mid Cap Growth Alpha ETF provided a 0.46% dividend yield over the last twelve months, with an annual payout of $0.45 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.45 | $0.44 | $0.57 | $0.29 | $0.21 | $0.19 | $0.15 | $0.15 | $0.20 | $0.12 | $0.11 |
Dividend yield | 0.46% | 0.54% | 0.76% | 0.44% | 0.40% | 0.28% | 0.24% | 0.32% | 0.53% | 0.30% | 0.36% |
Monthly Dividends
The table displays the monthly dividend distributions for Janus Henderson Small/Mid Cap Growth Alpha ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.00 | $0.08 | ||||||
| 2025 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.12 | $0.44 |
| 2024 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.40 | $0.57 |
| 2023 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.10 | $0.29 |
| 2022 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.08 | $0.21 |
| 2021 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.19 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Janus Henderson Small/Mid Cap Growth Alpha ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Janus Henderson Small/Mid Cap Growth Alpha ETF was 38.98%, occurring on Mar 23, 2020. Recovery took 85 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -38.98%Mar 2020 | 1mo 29d | 4mo 2d | 6mo 1dJan 2020 - Jul 2020 |
Bear market2022 | -32.18%Jun 2022 | 6mo 29d | 1y 9mo | 2y 4moNov 2021 - Mar 2024 |
Rate-hike selloffLate 2018 | -27.06%Dec 2018 | 3mo 8d | 11mo 7d | 1y 2moSep 2018 - Nov 2019 |
2025 selloff2025 | -24.01%Apr 2025 | 4mo 4d | 4mo 16d | 8mo 20dDec 2024 - Aug 2025 |
2026 correction2026 | -14.86%Mar 2026 | 2mo 6d | 18d | 2mo 24dJan 2026 - Apr 2026 |
Drawdown Indicators
| JSMD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.98% | -56.78% | +17.80% |
Max Drawdown (1Y)Largest decline over 1 year | -14.86% | -9.10% | -5.76% |
Max Drawdown (3Y)Largest decline over 3 years | -24.01% | -18.90% | -5.11% |
Max Drawdown (5Y)Largest decline over 5 years | -32.18% | -25.43% | -6.75% |
Max Drawdown (10Y)Largest decline over 10 years | -38.98% | -33.92% | -5.06% |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -7.45% | -10.71% | +3.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.38% | 2.03% | +2.35% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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