- ISIN
- US47103U1007
- CUSIP
- 47103U100
- Issuer
- Janus Henderson
- Inception Date
- Feb 25, 2016
- Region
- North America (U.S.)
- Category
- Small Cap Growth Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Janus Small Cap Growth Alpha Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Micro-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $350M
Share Price Chart
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Performance
JSML Performance Chart
Janus Henderson Small Cap Growth Alpha ETF (JSML) is up 23.8% since the beginning of the year. JSML is currently trading at $91 per share. Investors who bought $1,000 worth of JSML shares 5 years ago would now be looking at an investment worth $1,379.
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Returns By Period
Janus Henderson Small Cap Growth Alpha ETF (JSML) has returned 23.76% so far this year and 38.96% over the past 12 months. Over the last ten years, JSML has had an annualized return of 13.59%, just under the S&P 500 Index benchmark’s 13.71%.
Janus Henderson Small Cap Growth Alpha ETF
- 1D
- -1.54%
- 1M
- 7.36%
- YTD
- 23.76%
- 6M
- 20.73%
- 1Y
- 38.96%
- 3Y*
- 19.76%
- 5Y*
- 6.64%
- 10Y*
- 13.59%
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
JSML Monthly Returns History
Based on dividend-adjusted daily data since Feb 25, 2016, JSML's average daily return is +0.06%, while the average monthly return is +1.29%. At this rate, an investment would double in approximately 4.5 years.
Historically, 65% of months were positive and 35% were negative. The best month was Nov 2020 with a return of +20.9%, while the worst month was Mar 2020 at -19.8%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 3 months.
On a daily basis, JSML closed higher 51% of trading days. The best single day was Mar 24, 2020 with a return of +8.4%, while the worst single day was Mar 12, 2020 at -12.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.11% | -0.21% | -7.42% | 16.43% | 7.33% | 3.98% | 23.76% | ||||||
| 2025 | 5.13% | -8.05% | -3.51% | -3.43% | 10.36% | 4.31% | 1.46% | 6.01% | 3.20% | -0.53% | 0.48% | -1.40% | 13.41% |
| 2024 | -4.44% | 5.36% | 1.91% | -5.70% | 5.35% | -1.61% | 9.74% | -0.99% | 2.00% | -1.70% | 13.37% | -9.21% | 12.45% |
| 2023 | 13.84% | -0.08% | -3.09% | -3.88% | 7.28% | 9.79% | 4.47% | -7.75% | -6.73% | -5.59% | 8.85% | 12.85% | 30.09% |
| 2022 | -13.84% | 1.96% | 0.51% | -11.40% | 0.49% | -8.61% | 13.40% | -7.03% | -9.63% | 6.89% | 5.67% | -8.70% | -29.40% |
| 2021 | 2.55% | 3.52% | 0.54% | 1.17% | -1.26% | 1.43% | -1.23% | 3.49% | -6.90% | 3.11% | -4.34% | 1.54% | 3.08% |
Benchmark Metrics
Janus Henderson Small Cap Growth Alpha ETF has an annualized alpha of -0.09%, beta of 1.09, and R2 of 0.66 versus S&P 500 Index. Calculated based on daily prices since February 25, 2016.
- This ETF participated in 125.08% of S&P 500 Index downside but only 123.31% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 1.09 and R2 of 0.66, 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
- -0.09%
- Beta
- 1.09
- R²
- 0.66
- Upside Capture
- 123.31%
- Downside Capture
- 125.08%
Expense Ratio
JSML has an expense ratio of 0.30%, placing it in the medium range.
Return for Risk
Risk / Return Rank
JSML ranks 55 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 Cap Growth Alpha ETF (JSML) 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.
| JSML | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.32 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 2.46 | +0.18 |
| Martin ratioReturn relative to average drawdown | 9.34 | 10.92 | -1.58 |
Dividends
Dividend History
Janus Henderson Small Cap Growth Alpha ETF provided a 0.77% dividend yield over the last twelve months, with an annual payout of $0.70 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.70 | $0.69 | $0.78 | $0.29 | $0.31 | $0.30 | $0.19 | $0.13 | $0.27 | $0.15 | $0.16 |
Dividend yield | 0.77% | 0.94% | 1.19% | 0.49% | 0.67% | 0.46% | 0.30% | 0.27% | 0.76% | 0.42% | 0.52% |
Monthly Dividends
The table displays the monthly dividend distributions for Janus Henderson Small 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 | $0.04 | $0.24 | $0.00 | $0.00 | $0.28 | ||||||
| 2025 | $0.00 | $0.00 | $0.27 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.12 | $0.69 |
| 2024 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.62 | $0.78 |
| 2023 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.13 | $0.29 |
| 2022 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.19 | $0.31 |
| 2021 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.09 | $0.30 |
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 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 Cap Growth Alpha ETF was 39.65%, occurring on Sep 26, 2022. Recovery took 534 trading sessions.
The current Janus Henderson Small Cap Growth Alpha ETF drawdown is 1.54%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -39.65%Sep 2022 | 1y 7mo | 2y 1mo | 3y 8moFeb 2021 - Nov 2024 |
COVID crash2020 | -39.19%Mar 2020 | 1mo 25d | 4mo 13d | 6mo 8dJan 2020 - Jul 2020 |
Rate-hike selloffLate 2018 | -27.37%Dec 2018 | 3mo 20d | 11mo 7d | 1y 2moSep 2018 - Nov 2019 |
2025 selloff2025 | -25.60%Apr 2025 | 4mo 27d | 4mo 20d | 9mo 17dNov 2024 - Aug 2025 |
2026 correction2026 | -14.84%Mar 2026 | 2mo 6d | 18d | 2mo 24dJan 2026 - Apr 2026 |
Drawdown Indicators
| JSML | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.65% | -56.78% | +17.13% |
Max Drawdown (1Y)Largest decline over 1 year | -14.84% | -9.10% | -5.74% |
Max Drawdown (3Y)Largest decline over 3 years | -25.60% | -18.90% | -6.70% |
Max Drawdown (5Y)Largest decline over 5 years | -37.91% | -25.43% | -12.48% |
Max Drawdown (10Y)Largest decline over 10 years | -39.65% | -33.92% | -5.73% |
Current DrawdownCurrent decline from peak | -1.54% | -3.21% | +1.67% |
Average DrawdownAverage peak-to-trough decline | -10.81% | -10.71% | -0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.18% | 2.04% | +2.14% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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