DODLX vs. JSMD

Last updated Jun 9, 2026

DODLX (Dodge & Cox Global Bond Fund) and JSMD (Janus Henderson Small/Mid Cap Growth Alpha ETF) are both funds - DODLX is a Global Bonds fund managed by Dodge & Cox, while JSMD is a Mid Cap Growth Equities fund tracking the Janus Small Mid Cap Growth Alpha Index. Over the past 10 years, DODLX returned 4.77%/yr vs 13.27%/yr for JSMD. At a 0.34 correlation, their price movements are largely independent. DODLX charges 0.45%/yr vs 0.30%/yr for JSMD.

Performance

DODLX vs. JSMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dodge & Cox Global Bond Fund (DODLX) 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, DODLX achieves a 0.42% return, which is significantly lower than JSMD's 15.35% return. Over the past 10 years, DODLX has underperformed JSMD with an annualized return of 4.77%, while JSMD has yielded a comparatively higher 13.27% annualized return.

DODLX

• 1D: -0.62%
• 1M: -0.97%
• YTD: 0.42%
• 6M: 0.85%
• 1Y: 6.42%
• 3Y*: 6.57%
• 5Y*: 2.89%
• 10Y*: 4.77%

JSMD

• 1D: 0.70%
• 1M: 1.65%
• YTD: 15.35%
• 6M: 12.87%
• 1Y: 23.66%
• 3Y*: 17.18%
• 5Y*: 7.35%
• 10Y*: 13.27%

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

DODLX vs. JSMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DODLX Dodge & Cox Global Bond Fund	0.42%	11.51%	0.55%	12.30%	-8.21%	-0.85%	11.87%	12.23%	-1.45%	8.31%
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	15.35%	9.25%	15.08%	26.81%	-22.84%	8.40%	30.79%	31.05%	-4.73%	24.46%

Correlation

The correlation between DODLX and JSMD is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016	0.34

Return for Risk

DODLX vs. JSMD — Risk / Return Rank

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

DODLX

DODLX Risk / Return Rank: 24
DODLX Sharpe Ratio Rank: 26
DODLX Sortino Ratio Rank: 26
DODLX Omega Ratio Rank: 26
DODLX Calmar Ratio Rank: 23
DODLX Martin Ratio Rank: 21

JSMD

JSMD Risk / Return Rank: 34
JSMD Sharpe Ratio Rank: 33
JSMD Sortino Ratio Rank: 32
JSMD Omega Ratio Rank: 32
JSMD Calmar Ratio Rank: 36
JSMD Martin Ratio Rank: 38

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.

DODLX vs. JSMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dodge & Cox Global Bond Fund (DODLX) 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.

	DODLX	JSMD	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.07	+0.30
Sortino ratio: Return per unit of downside risk	2.00	1.55	+0.44
Omega ratio: Gain probability vs. loss probability	1.26	1.20	+0.06
Calmar ratio: Return relative to maximum drawdown	1.63	1.60	+0.03
Martin ratio: Return relative to average drawdown	5.13	5.38	-0.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DODLX vs. JSMD - Sharpe Ratio Comparison

The current DODLX Sharpe Ratio is 1.38, which is comparable to the JSMD Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of DODLX 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.

Sharpe Ratios by Period

	DODLX	JSMD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	1.07	+0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.32	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.99	0.58	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.63	+0.15

Drawdowns

DODLX vs. JSMD - Drawdown Comparison

The maximum DODLX drawdown since its inception was -16.30%, smaller than the maximum JSMD drawdown of -38.98%. Use the drawdown chart below to compare losses from any high point for DODLX and JSMD.

Drawdown Indicators

	DODLX	JSMD	Difference
Max Drawdown Largest peak-to-trough decline	-16.30%	-38.98%	+22.68%
Max Drawdown (1Y) Largest decline over 1 year	-3.67%	-14.86%	+11.19%
Max Drawdown (3Y) Largest decline over 3 years	-6.21%	-24.01%	+17.80%
Max Drawdown (5Y) Largest decline over 5 years	-16.30%	-32.18%	+15.88%
Max Drawdown (10Y) Largest decline over 10 years	-16.30%	-38.98%	+22.68%
Current Drawdown Current decline from peak	-2.27%	-3.42%	+1.15%
Average Drawdown Average peak-to-trough decline	-3.04%	-7.48%	+4.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.16%	4.41%	-3.25%

Volatility

DODLX vs. JSMD - Volatility Comparison

The current volatility for Dodge & Cox Global Bond Fund (DODLX) is 1.71%, while Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) has a volatility of 7.33%. This indicates that DODLX 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

	DODLX	JSMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.71%	7.33%	-5.62%
Volatility (6M) Calculated over the trailing 6-month period	3.42%	16.77%	-13.35%
Volatility (1Y) Calculated over the trailing 1-year period	4.33%	22.16%	-17.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.25%	22.92%	-17.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.81%	22.80%	-17.99%

DODLX vs. JSMD - Expense Ratio Comparison

DODLX has a 0.45% expense ratio, which is higher than JSMD's 0.30% expense ratio.

Dividends

DODLX vs. JSMD - Dividend Comparison

DODLX's dividend yield for the trailing twelve months is around 4.07%, more than JSMD's 0.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DODLX Dodge & Cox Global Bond Fund	4.07%	4.07%	4.73%	3.31%	5.05%	3.86%	2.66%	3.40%	5.19%	2.45%	1.69%
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	0.48%	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 DODLX and JSMD in my portfolio?

DODLX and JSMD have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DODLX or JSMD?

JSMD has higher volatility (7.33%) compared to DODLX (1.71%). In terms of maximum drawdown, DODLX dropped -16.30% vs JSMD's -38.98%.

Which has better risk-adjusted returns?

DODLX currently has the higher Sharpe Ratio (1.38 vs 1.07), 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.