FCUS vs. JSMD

Last updated Jul 17, 2026

FCUS (Pinnacle Focused Opportunities ETF) and JSMD (Janus Henderson Small/Mid Cap Growth Alpha ETF) are both Mid Cap Growth Equities funds. FCUS is actively managed, while JSMD is passively managed. Over the past 3 years, FCUS returned 22.64%/yr vs 14.72%/yr for JSMD. A 0.74 correlation means they provide meaningful diversification when combined. FCUS charges 0.79%/yr vs 0.30%/yr for JSMD.

Performance

FCUS vs. JSMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pinnacle Focused Opportunities ETF (FCUS) 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, FCUS achieves a 14.82% return, which is significantly lower than JSMD's 17.41% return.

FCUS

• 1D: -6.16%
• 1M: -18.83%
• 6M: 0.51%
• YTD: 14.82%
• 1Y: 41.41%
• 3Y*: 22.64%
• 5Y*: —
• 10Y*: —

JSMD

• 1D: -1.39%
• 1M: -0.93%
• 6M: 9.85%
• YTD: 17.41%
• 1Y: 22.75%
• 3Y*: 14.72%
• 5Y*: 8.56%
• 10Y*: 13.14%

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

FCUS vs. JSMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FCUS Pinnacle Focused Opportunities ETF	14.82%	13.69%	30.59%	21.13%	0.87%
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	17.41%	9.25%	15.08%	26.81%	-0.57%

Correlation

The correlation between FCUS and JSMD is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (All Time) Calculated using the full available price history since Dec 30, 2022	0.74

The correlation between FCUS and JSMD has been stable across timeframes, ranging from 0.73 to 0.74 - a consistent structural relationship.

FCUS vs. JSMD - Sectors Allocation Comparison

Sectors	FCUS	JSMD
Technology	53.3%	28.1%
Energy	17.1%	1.1%
Basic Materials	11.1%	3.0%
Industrials	9.2%	23.3%
Consumer Defensive	3.7%	2.5%
Consumer Cyclical	3.1%	8.7%
Healthcare	2.6%	18.7%
Communication Services	2.2%	2.9%
Financial Services	-	8.9%
Real Estate	-	2.8%
Utilities	-	-

Return for Risk

FCUS vs. JSMD — Risk / Return Rank

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

FCUS

FCUS Risk / Return Rank: 39
FCUS Sharpe Ratio Rank: 36
FCUS Sortino Ratio Rank: 33
FCUS Omega Ratio Rank: 35
FCUS Calmar Ratio Rank: 43
FCUS Martin Ratio Rank: 50

JSMD

JSMD Risk / Return Rank: 36
JSMD Sharpe Ratio Rank: 35
JSMD Sortino Ratio Rank: 34
JSMD Omega Ratio Rank: 33
JSMD Calmar Ratio Rank: 37
JSMD Martin Ratio Rank: 40

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.

FCUS vs. JSMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pinnacle Focused Opportunities ETF (FCUS) 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.

	FCUS	JSMD	Difference
Sharpe ratio: Return per unit of total volatility	1.07	1.03	+0.04
Sortino ratio: Return per unit of downside risk	1.48	1.54	-0.06
Omega ratio: Gain probability vs. loss probability	1.20	1.19	+0.01
Calmar ratio: Return relative to maximum drawdown	1.77	1.54	+0.23
Martin ratio: Return relative to average drawdown	6.67	5.12	+1.55

FCUS vs. JSMD - Sharpe Ratio Comparison

The current FCUS Sharpe Ratio is 1.07, which is comparable to the JSMD Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of FCUS 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

FCUS vs. JSMD - Drawdown Comparison

The maximum FCUS drawdown since its inception was -39.89%, roughly equal to the maximum JSMD drawdown of -38.98%. Use the drawdown chart below to compare losses from any high point for FCUS and JSMD.

Drawdown Indicators

	FCUS	JSMD	Difference
Max Drawdown Largest peak-to-trough decline	-39.89%	-38.98%	-0.91%
Max Drawdown (1Y) Largest decline over 1 year	-23.49%	-14.86%	-8.63%
Max Drawdown (3Y) Largest decline over 3 years	-39.89%	-24.01%	-15.88%
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	-23.49%	-5.59%	-17.90%
Average Drawdown Average peak-to-trough decline	-7.61%	-7.42%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.23%	4.45%	+1.78%

Volatility

FCUS vs. JSMD - Volatility Comparison

Pinnacle Focused Opportunities ETF (FCUS) has a higher volatility of 16.49% compared to Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) at 6.01%. This indicates that FCUS's price experiences larger fluctuations and is considered to be riskier than JSMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCUS	JSMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.49%	6.01%	+10.48%
Volatility (6M) Calculated over the trailing 6-month period	30.37%	17.49%	+12.88%
Volatility (1Y) Calculated over the trailing 1-year period	38.75%	22.16%	+16.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.20%	23.09%	+8.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.20%	22.80%	+8.40%

FCUS vs. JSMD - Expense Ratio Comparison

FCUS has a 0.79% expense ratio, which is higher than JSMD's 0.30% expense ratio.

Dividends

FCUS vs. JSMD - Dividend Comparison

FCUS's dividend yield for the trailing twelve months is around 3.77%, more than JSMD's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FCUS Pinnacle Focused Opportunities ETF	3.77%	4.33%	11.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	0.43%	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 FCUS and JSMD in my portfolio?

FCUS and JSMD have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCUS or JSMD?

FCUS has higher volatility (16.49%) compared to JSMD (6.01%). In terms of maximum drawdown, FCUS dropped -39.89% vs JSMD's -38.98%.

Which ETF is better, FCUS or JSMD?

On 3-year performance, FCUS leads with 22.64% vs 14.72% for JSMD. On fees, JSMD is cheaper at 0.30% per year. On volatility, JSMD has been the lower-risk option at 6.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCUS or JSMD?

Over the 3-year period, FCUS has performed better with a 22.64% return vs 14.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCUS or JSMD?

JSMD is cheaper with a 0.30% expense ratio, compared with 0.79% for FCUS.

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

FCUS has the higher dividend yield at 3.77%, compared with 0.43% for JSMD.

What is the main difference between FCUS and JSMD?

They also come from different issuers: Pinnacle and Janus Henderson. Their fees differ too: 0.79% for FCUS and 0.30% for JSMD.

Which has better risk-adjusted returns?

FCUS currently has the higher Sharpe Ratio (1.07 vs 1.03), 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.