HDQVX vs. JFRDX

Last updated Aug 1, 2026

HDQVX (Janus Henderson International Dividend Fund Class S) and JFRDX (Janus Henderson Forty Fund Class D) are both mutual funds - HDQVX is a Global Equity Income fund actively managed by Janus Henderson, while JFRDX is a Large Cap Growth Equities fund actively managed by Janus Henderson. Both are actively managed. Over the past 5 years, HDQVX returned 12.82%/yr vs 7.66%/yr for JFRDX. Their 0.70 correlation means they have sometimes moved together and sometimes differently. HDQVX charges 1.27%/yr vs 0.63%/yr for JFRDX.

Performance

HDQVX vs. JFRDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson International Dividend Fund Class S (HDQVX) and Janus Henderson Forty Fund Class D (JFRDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDQVX achieves a 18.96% return, which is significantly higher than JFRDX's 0.04% return.

HDQVX

• 1D: 2.85%
• 1M: 1.28%
• 6M: 13.86%
• YTD: 18.96%
• 1Y: 29.81%
• 3Y*: 20.59%
• 5Y*: 12.82%
• 10Y*: —
• ALL TIME*: 10.17%

JFRDX

• 1D: 3.28%
• 1M: -2.85%
• 6M: 2.86%
• YTD: 0.04%
• 1Y: 6.63%
• 3Y*: 17.21%
• 5Y*: 7.66%
• 10Y*: —
• ALL TIME*: 15.45%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HDQVX Janus Henderson International Dividend Fund Class S	$0.00	$0.00	$0.00
JFRDX Janus Henderson Forty Fund Class D	$0.00	$0.00	$0.00

HDQVX vs. JFRDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HDQVX Janus Henderson International Dividend Fund Class S	18.96%	29.00%	8.58%	18.06%	-8.69%	11.67%	5.11%	18.91%	-9.41%	6.69%
JFRDX Janus Henderson Forty Fund Class D	0.04%	18.31%	28.26%	40.01%	-33.58%	22.73%	39.22%	36.75%	1.49%	8.76%

Correlation

The correlation between HDQVX and JFRDX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.59
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (5Y) Shows whether the relationship held over a longer period.	0.69
Correlation (All Time) Calculated using the full available price history since Jun 9, 2017	0.70

The correlation between HDQVX and JFRDX shifts across timeframes, from 0.59 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HDQVX vs. JFRDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HDQVX

HDQVX Risk / Return Rank: 74
HDQVX Sharpe Ratio Rank: 78
HDQVX Sortino Ratio Rank: 73
HDQVX Omega Ratio Rank: 76
HDQVX Calmar Ratio Rank: 73
HDQVX Martin Ratio Rank: 70

JFRDX

JFRDX Risk / Return Rank: 8
JFRDX Sharpe Ratio Rank: 8
JFRDX Sortino Ratio Rank: 8
JFRDX Omega Ratio Rank: 8
JFRDX Calmar Ratio Rank: 7
JFRDX Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HDQVX vs. JFRDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson International Dividend Fund Class S (HDQVX) and Janus Henderson Forty Fund Class D (JFRDX). 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.

	HDQVX	JFRDX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	0.22	+1.64
Sortino ratio: Return per unit of downside risk	2.51	0.44	+2.07
Omega ratio: Gain probability vs. loss probability	1.34	1.05	+0.29
Calmar ratio: Return relative to maximum drawdown	2.43	0.23	+2.21
Martin ratio: Return relative to average drawdown	8.78	0.68	+8.10

HDQVX vs. JFRDX - Sharpe Ratio Comparison

The current HDQVX Sharpe Ratio is 1.86, which is higher than the JFRDX Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of HDQVX and JFRDX, 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

HDQVX vs. JFRDX - Drawdown Comparison

The maximum HDQVX drawdown since its inception was -28.56%, smaller than the maximum JFRDX drawdown of -40.91%. Use the drawdown chart below to compare losses from any high point for HDQVX and JFRDX.

Drawdown Indicators

	HDQVX	JFRDX	Difference
Max Drawdown Largest peak-to-trough decline	-28.56%	-40.91%	+12.35%
Max Drawdown (1Y) Largest decline over 1 year	-11.33%	-19.05%	+7.72%
Max Drawdown (3Y) Largest decline over 3 years	-13.03%	-22.14%	+9.11%
Max Drawdown (5Y) Largest decline over 5 years	-22.94%	-40.91%	+17.97%
Current Drawdown Current decline from peak	0.00%	-8.20%	+8.20%
Average Drawdown Average peak-to-trough decline	-4.48%	-8.12%	+3.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	6.28%	-3.14%

Volatility

HDQVX vs. JFRDX - Volatility Comparison

The current volatility for Janus Henderson International Dividend Fund Class S (HDQVX) is 4.89%, while Janus Henderson Forty Fund Class D (JFRDX) has a volatility of 6.07%. This indicates that HDQVX experiences smaller price fluctuations and is considered to be less risky than JFRDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDQVX	JFRDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	6.07%	-1.18%
Volatility (6M) Calculated over the trailing 6-month period	12.82%	15.83%	-3.01%
Volatility (1Y) Calculated over the trailing 1-year period	14.85%	19.49%	-4.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.97%	22.35%	-8.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.95%	22.10%	-8.15%

HDQVX vs. JFRDX - Expense Ratio Comparison

HDQVX has a 1.27% expense ratio, which is higher than JFRDX's 0.63% expense ratio.

Dividends

HDQVX vs. JFRDX - Dividend Comparison

HDQVX's dividend yield for the trailing twelve months is around 6.54%, less than JFRDX's 13.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HDQVX Janus Henderson International Dividend Fund Class S	6.54%	7.52%	6.41%	2.94%	4.25%	4.63%	3.29%	3.26%	4.24%	2.16%
JFRDX Janus Henderson Forty Fund Class D	13.10%	13.10%	11.27%	9.12%	0.06%	10.12%	8.26%	7.21%	8.88%	9.68%

Frequently Asked Questions

Can I hold both HDQVX and JFRDX in my portfolio?

HDQVX and JFRDX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HDQVX or JFRDX?

JFRDX has higher volatility (6.07%) compared to HDQVX (4.89%). In terms of maximum drawdown, HDQVX dropped -28.56% vs JFRDX's -40.91%.

Which has better risk-adjusted returns?

HDQVX currently has the higher Sharpe Ratio (1.86 vs 0.22), 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.