GIAX vs. JELM
GIAX (Nicholas Global Equity and Income ETF) and JELM (Janus Henderson Equity Linked Moderate Income ETF) are both Derivative Income funds. Both are actively managed. Their -0.17 correlation means they have often moved in opposite directions in the past. GIAX charges 1.03%/yr vs 0.59%/yr for JELM.
Performance
GIAX vs. JELM - Performance Comparison
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Returns By Period
GIAX
- 1D
- -0.47%
- 1M
- -2.34%
- 6M
- 15.96%
- YTD
- 12.25%
- 1Y
- 15.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.52%
JELM
- 1D
- -0.10%
- 1M
- 1.05%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.39M | $1.89M | $1.97M | |
| $214.60K | $418.55K | $965.66K |
GIAX vs. JELM - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
GIAX Nicholas Global Equity and Income ETF | 7.90% |
JELM Janus Henderson Equity Linked Moderate Income ETF | 2.24% |
Correlation
The correlation between GIAX and JELM is -0.17, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 22, 2026 | -0.17 |
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Return for Risk
GIAX vs. JELM — Risk / Return Rank
GIAX
JELM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GIAX vs. JELM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Global Equity and Income ETF (GIAX) and Janus Henderson Equity Linked Moderate Income ETF (JELM). 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.
| GIAX | JELM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.12 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | — | — |
| Martin ratioReturn relative to average drawdown | 2.57 | — | — |
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Drawdowns
GIAX vs. JELM - Drawdown Comparison
The maximum GIAX drawdown since its inception was -20.38%, which is greater than JELM's maximum drawdown of -0.69%. Use the drawdown chart below to compare losses from any high point for GIAX and JELM.
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Drawdown Indicators
| GIAX | JELM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.38% | -0.69% | -19.69% |
Max Drawdown (1Y)Largest decline over 1 year | -19.64% | — | — |
Current DrawdownCurrent decline from peak | -10.73% | -0.35% | -10.38% |
Average DrawdownAverage peak-to-trough decline | -3.58% | -0.21% | -3.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.02% | — | — |
Volatility
GIAX vs. JELM - Volatility Comparison
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Volatility by Period
| GIAX | JELM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.77% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 22.77% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 25.55% | 3.67% | +21.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.73% | 3.67% | +19.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.73% | 3.67% | +19.06% |
GIAX vs. JELM - Expense Ratio Comparison
GIAX has a 1.03% expense ratio, which is higher than JELM's 0.59% expense ratio.
Dividends
GIAX vs. JELM - Dividend Comparison
GIAX's dividend yield for the trailing twelve months is around 25.17%, more than JELM's 1.21% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GIAX Nicholas Global Equity and Income ETF | 25.17% | 25.62% | 10.58% |
JELM Janus Henderson Equity Linked Moderate Income ETF | 1.21% | 0.00% | 0.00% |
Frequently Asked Questions
GIAX and JELM have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JELM is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JELM is cheaper with a 0.59% expense ratio, compared with 1.03% for GIAX.
GIAX has the higher dividend yield at 25.17%, compared with 1.21% for JELM.
They also come from different issuers: Nicholas and Janus Henderson. Their fees differ too: 1.03% for GIAX and 0.59% for JELM.
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