AVIV vs. JSMD

Last updated Jun 16, 2026

AVIV (Avantis International Large Cap Value ETF) and JSMD (Janus Henderson Small/Mid Cap Growth Alpha ETF) are both exchange-traded funds - AVIV is a Foreign Large Cap Equities fund actively managed by Avantis, while JSMD is a Mid Cap Growth Equities fund tracking the Janus Small Mid Cap Growth Alpha Index. AVIV is actively managed, while JSMD is passively managed. Over the past 3 years, AVIV returned 21.08%/yr vs 17.83%/yr for JSMD. A 0.68 correlation means they provide meaningful diversification when combined. AVIV charges 0.25%/yr vs 0.30%/yr for JSMD.

Performance

AVIV vs. JSMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Large Cap Value ETF (AVIV) and Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVIV achieves a 12.69% return, which is significantly lower than JSMD's 19.55% return.

AVIV

• 1D: 0.56%
• 1M: 2.69%
• YTD: 12.69%
• 6M: 13.58%
• 1Y: 32.96%
• 3Y*: 21.08%
• 5Y*: —
• 10Y*: —

JSMD

• 1D: 1.27%
• 1M: 6.04%
• YTD: 19.55%
• 6M: 17.80%
• 1Y: 31.95%
• 3Y*: 17.83%
• 5Y*: 8.38%
• 10Y*: 13.87%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVIV vs. JSMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVIV Avantis International Large Cap Value ETF	12.69%	41.80%	4.30%	18.47%	-8.26%	1.83%
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	19.55%	9.25%	15.08%	26.81%	-22.84%	3.44%

Correlation

The correlation between AVIV and JSMD is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.68

The correlation between AVIV and JSMD has been stable across timeframes, ranging from 0.64 to 0.68 - a consistent structural relationship.

AVIV vs. JSMD - Sectors Allocation Comparison

Sectors	AVIV	JSMD
Financial Services	27.3%	8.9%
Industrials	18.5%	23.3%
Energy	13.0%	1.1%
Basic Materials	12.7%	3.0%
Consumer Cyclical	10.2%	8.7%
Communication Services	4.7%	2.9%
Healthcare	4.7%	18.7%
Technology	4.0%	28.1%
Consumer Defensive	3.2%	2.5%
Real Estate	1.0%	2.8%
Utilities	0.7%	-

Return for Risk

AVIV vs. JSMD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVIV

AVIV Risk / Return Rank: 75
AVIV Sharpe Ratio Rank: 79
AVIV Sortino Ratio Rank: 78
AVIV Omega Ratio Rank: 78
AVIV Calmar Ratio Rank: 67
AVIV Martin Ratio Rank: 71

JSMD

JSMD Risk / Return Rank: 45
JSMD Sharpe Ratio Rank: 46
JSMD Sortino Ratio Rank: 44
JSMD Omega Ratio Rank: 43
JSMD Calmar Ratio Rank: 46
JSMD Martin Ratio Rank: 47

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVIV vs. JSMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Large Cap Value ETF (AVIV) and Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AVIV	JSMD	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.48	+0.80
Sortino ratio: Return per unit of downside risk	3.10	2.08	+1.02
Omega ratio: Gain probability vs. loss probability	1.41	1.26	+0.16
Calmar ratio: Return relative to maximum drawdown	3.07	2.16	+0.91
Martin ratio: Return relative to average drawdown	11.98	7.31	+4.68

AVIV vs. JSMD - Sharpe Ratio Comparison

The current AVIV Sharpe Ratio is 2.27, which is higher than the JSMD Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of AVIV and JSMD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVIV vs. JSMD - Drawdown Comparison

The maximum AVIV drawdown since its inception was -27.69%, smaller than the maximum JSMD drawdown of -38.98%. Use the drawdown chart below to compare losses from any high point for AVIV and JSMD.

Drawdown Indicators

	AVIV	JSMD	Difference
Max Drawdown Largest peak-to-trough decline	-27.69%	-38.98%	+11.29%
Max Drawdown (1Y) Largest decline over 1 year	-10.78%	-14.86%	+4.08%
Max Drawdown (3Y) Largest decline over 3 years	-14.13%	-24.01%	+9.88%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.98%	—
Current Drawdown Current decline from peak	-0.34%	0.00%	-0.34%
Average Drawdown Average peak-to-trough decline	-5.09%	-7.46%	+2.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	4.38%	-1.62%

Volatility

AVIV vs. JSMD - Volatility Comparison

The current volatility for Avantis International Large Cap Value ETF (AVIV) is 5.15%, while Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) has a volatility of 8.24%. This indicates that AVIV experiences smaller price fluctuations and is considered to be less risky than JSMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVIV	JSMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.15%	8.24%	-3.09%
Volatility (6M) Calculated over the trailing 6-month period	12.32%	17.21%	-4.89%
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	21.80%	-7.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	22.99%	-6.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	22.83%	-5.91%

AVIV vs. JSMD - Expense Ratio Comparison

AVIV has a 0.25% expense ratio, which is lower than JSMD's 0.30% expense ratio.

Dividends

AVIV vs. JSMD - Dividend Comparison

AVIV's dividend yield for the trailing twelve months is around 3.92%, more than JSMD's 0.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AVIV Avantis International Large Cap Value ETF	3.92%	3.01%	3.46%	3.64%	2.84%	0.57%	0.00%	0.00%	0.00%	0.00%	0.00%
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	0.46%	0.54%	0.76%	0.44%	0.40%	0.28%	0.24%	0.32%	0.53%	0.30%	0.36%

Frequently Asked Questions

Can I hold both AVIV and JSMD in my portfolio?

AVIV and JSMD have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVIV or JSMD?

JSMD has higher volatility (8.24%) compared to AVIV (5.15%). In terms of maximum drawdown, AVIV dropped -27.69% vs JSMD's -38.98%.

Which ETF is better, AVIV or JSMD?

On 3-year performance, AVIV leads with 21.08% vs 17.83% for JSMD. On fees, AVIV is cheaper at 0.25% per year. On volatility, AVIV has been the lower-risk option at 5.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVIV or JSMD?

Over the 3-year period, AVIV has performed better with a 21.08% return vs 17.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVIV or JSMD?

AVIV is cheaper with a 0.25% expense ratio, compared with 0.30% for JSMD.

Which ETF pays a higher dividend yield, AVIV or JSMD?

AVIV has the higher dividend yield at 3.92%, compared with 0.46% for JSMD.

What is the main difference between AVIV and JSMD?

AVIV is categorized as Foreign Large Cap Equities, while JSMD is Mid Cap Growth Equities. They also come from different issuers: Avantis and Janus Henderson. Their fees differ too: 0.25% for AVIV and 0.30% for JSMD.

Which has better risk-adjusted returns?

AVIV currently has the higher Sharpe Ratio (2.27 vs 1.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.