HFEAX vs. JARTX

Last updated Apr 1, 2026

Compare and contrast key facts about Janus Henderson European Focus Fund (HFEAX) and Janus Henderson Forty Fund (JARTX).

HFEAX is managed by Janus Henderson. It was launched on Aug 30, 2001. JARTX is managed by Janus Henderson. It was launched on May 1, 1997.

Performance

HFEAX vs. JARTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson European Focus Fund (HFEAX) and Janus Henderson Forty Fund (JARTX). The values are adjusted to include any dividend payments, if applicable.

HFEAX vs. JARTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HFEAX Janus Henderson European Focus Fund	-9.25%	39.88%	2.11%	18.26%	-16.11%	18.83%	26.49%	31.42%	-27.83%	16.11%
JARTX Janus Henderson Forty Fund	-16.07%	17.88%	27.76%	39.50%	-33.81%	22.30%	38.69%	36.30%	1.10%	29.05%

Returns By Period

In the year-to-date period, HFEAX achieves a -9.25% return, which is significantly higher than JARTX's -16.07% return. Over the past 10 years, HFEAX has underperformed JARTX with an annualized return of 7.64%, while JARTX has yielded a comparatively higher 13.90% annualized return.

HFEAX

• 1D: -0.16%
• 1M: -12.20%
• YTD: -9.25%
• 6M: -4.33%
• 1Y: 14.98%
• 3Y*: 12.04%
• 5Y*: 7.97%
• 10Y*: 7.64%

JARTX

• 1D: -0.49%
• 1M: -8.91%
• YTD: -16.07%
• 6M: -15.92%
• 1Y: 8.52%
• 3Y*: 15.66%
• 5Y*: 7.00%
• 10Y*: 13.90%

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

HFEAX vs. JARTX - Expense Ratio Comparison

HFEAX has a 1.30% expense ratio, which is higher than JARTX's 1.20% expense ratio.

HFEAX

Janus Henderson European Focus Fund

JARTX

Janus Henderson Forty Fund

Return for Risk

HFEAX vs. JARTX — Risk / Return Rank

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

HFEAX

HFEAX Risk / Return Rank: 32
HFEAX Sharpe Ratio Rank: 37
HFEAX Sortino Ratio Rank: 32
HFEAX Omega Ratio Rank: 30
HFEAX Calmar Ratio Rank: 31
HFEAX Martin Ratio Rank: 32

JARTX

JARTX Risk / Return Rank: 13
JARTX Sharpe Ratio Rank: 14
JARTX Sortino Ratio Rank: 15
JARTX Omega Ratio Rank: 14
JARTX Calmar Ratio Rank: 11
JARTX Martin Ratio Rank: 11

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.

HFEAX vs. JARTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson European Focus Fund (HFEAX) and Janus Henderson Forty Fund (JARTX). 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.

	HFEAX	JARTX	Difference
Sharpe ratio Return per unit of total volatility	0.80	0.35	+0.46
Sortino ratio Return per unit of downside risk	1.12	0.66	+0.47
Omega ratio Gain probability vs. loss probability	1.15	1.09	+0.07
Calmar ratio Return relative to maximum drawdown	0.87	0.25	+0.62
Martin ratio Return relative to average drawdown	3.47	0.87	+2.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HFEAX vs. JARTX - Sharpe Ratio Comparison

The current HFEAX Sharpe Ratio is 0.80, which is higher than the JARTX Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of HFEAX and JARTX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HFEAX	JARTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	0.35	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.32	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.65	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.55	0.00

Correlation

The correlation between HFEAX and JARTX is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HFEAX vs. JARTX - Dividend Comparison

HFEAX's dividend yield for the trailing twelve months is around 1.24%, less than JARTX's 16.27% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HFEAX Janus Henderson European Focus Fund	1.24%	1.12%	1.45%	2.18%	2.40%	0.13%	0.28%	0.98%	4.26%	1.70%	2.59%	0.72%
JARTX Janus Henderson Forty Fund	16.27%	13.65%	11.51%	9.10%	0.06%	10.26%	8.38%	7.05%	8.95%	14.50%	6.57%	15.93%

Drawdowns

HFEAX vs. JARTX - Drawdown Comparison

The maximum HFEAX drawdown since its inception was -66.73%, which is greater than JARTX's maximum drawdown of -56.70%. Use the drawdown chart below to compare losses from any high point for HFEAX and JARTX.

Drawdown Indicators

	HFEAX	JARTX	Difference
Max Drawdown Largest peak-to-trough decline	-66.73%	-56.70%	-10.03%
Max Drawdown (1Y) Largest decline over 1 year	-14.43%	-19.19%	+4.76%
Max Drawdown (5Y) Largest decline over 5 years	-33.16%	-41.09%	+7.93%
Max Drawdown (10Y) Largest decline over 10 years	-36.73%	-41.09%	+4.36%
Current Drawdown Current decline from peak	-14.20%	-19.19%	+4.99%
Average Drawdown Average peak-to-trough decline	-10.92%	-16.91%	+5.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	5.53%	-1.90%

Volatility

HFEAX vs. JARTX - Volatility Comparison

Janus Henderson European Focus Fund (HFEAX) has a higher volatility of 7.60% compared to Janus Henderson Forty Fund (JARTX) at 6.14%. This indicates that HFEAX's price experiences larger fluctuations and is considered to be riskier than JARTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFEAX	JARTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.60%	6.14%	+1.46%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	13.00%	-1.34%
Volatility (1Y) Calculated over the trailing 1-year period	16.95%	22.54%	-5.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.80%	21.90%	-4.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.74%	21.33%	-2.59%