IBHI vs. JSMD
IBHI (iShares iBonds 2029 Term High Yield and Income ETF) and JSMD (Janus Henderson Small/Mid Cap Growth Alpha ETF) are both exchange-traded funds - IBHI is a High Yield Bonds fund tracking the Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross, while JSMD is a Mid Cap Growth Equities fund tracking the Janus Small Mid Cap Growth Alpha Index. Both are passively managed. Over the past 3 years, IBHI returned 8.77%/yr vs 17.13%/yr for JSMD. A 0.64 correlation means they provide meaningful diversification when combined. IBHI charges 0.35%/yr vs 0.30%/yr for JSMD.
Performance
IBHI vs. JSMD - Performance Comparison
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Returns By Period
In the year-to-date period, IBHI achieves a 1.47% return, which is significantly lower than JSMD's 18.04% return.
IBHI
- 1D
- 0.13%
- 1M
- 0.67%
- YTD
- 1.47%
- 6M
- 2.17%
- 1Y
- 6.95%
- 3Y*
- 8.77%
- 5Y*
- —
- 10Y*
- —
JSMD
- 1D
- 0.29%
- 1M
- 4.71%
- YTD
- 18.04%
- 6M
- 15.17%
- 1Y
- 30.30%
- 3Y*
- 17.13%
- 5Y*
- 7.74%
- 10Y*
- 13.65%
IBHI vs. JSMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBHI iShares iBonds 2029 Term High Yield and Income ETF | 1.47% | 7.88% | 8.33% | 14.21% | -8.52% |
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF | 18.04% | 9.25% | 15.08% | 26.81% | -11.51% |
Correlation
The correlation between IBHI and JSMD is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2022 | 0.64 |
The correlation between IBHI and JSMD has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.
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Return for Risk
IBHI vs. JSMD — Risk / Return Rank
IBHI
JSMD
IBHI vs. JSMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2029 Term High Yield and Income ETF (IBHI) 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.
| IBHI | JSMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.19 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | 1.60 | +1.61 |
| Martin ratioReturn relative to average drawdown | 14.06 | 5.42 | +8.64 |
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Drawdowns
IBHI vs. JSMD - Drawdown Comparison
The maximum IBHI drawdown since its inception was -13.65%, smaller than the maximum JSMD drawdown of -38.98%. Use the drawdown chart below to compare losses from any high point for IBHI and JSMD.
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Drawdown Indicators
| IBHI | JSMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.65% | -38.98% | +25.33% |
Max Drawdown (1Y)Largest decline over 1 year | -2.11% | -14.86% | +12.75% |
Max Drawdown (3Y)Largest decline over 3 years | -5.73% | -24.01% | +18.28% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.18% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.98% | — |
Current DrawdownCurrent decline from peak | -0.21% | -1.17% | +0.96% |
Average DrawdownAverage peak-to-trough decline | -2.83% | -7.47% | +4.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 4.43% | -3.95% |
Volatility
IBHI vs. JSMD - Volatility Comparison
The current volatility for iShares iBonds 2029 Term High Yield and Income ETF (IBHI) is 0.97%, while Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) has a volatility of 8.22%. This indicates that IBHI 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.
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Volatility by Period
| IBHI | JSMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 8.22% | -7.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 17.21% | -14.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 22.48% | -18.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.96% | 22.98% | -15.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.96% | 22.82% | -14.86% |
IBHI vs. JSMD - Expense Ratio Comparison
IBHI has a 0.35% expense ratio, which is higher than JSMD's 0.30% expense ratio.
Dividends
IBHI vs. JSMD - Dividend Comparison
IBHI's dividend yield for the trailing twelve months is around 6.70%, more than JSMD's 0.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IBHI iShares iBonds 2029 Term High Yield and Income ETF | 6.70% | 6.79% | 6.66% | 6.48% | 5.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF | 0.47% | 0.54% | 0.76% | 0.44% | 0.40% | 0.28% | 0.24% | 0.32% | 0.53% | 0.30% | 0.36% |
Frequently Asked Questions
IBHI and JSMD have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JSMD has higher volatility (8.22%) compared to IBHI (0.97%). In terms of maximum drawdown, IBHI dropped -13.65% vs JSMD's -38.98%.
On 3-year performance, JSMD leads with 17.13% vs 8.77% for IBHI. On fees, JSMD is cheaper at 0.30% per year. On volatility, IBHI has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JSMD has performed better with a 17.13% return vs 8.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JSMD is cheaper with a 0.30% expense ratio, compared with 0.35% for IBHI.
IBHI has the higher dividend yield at 6.70%, compared with 0.47% for JSMD.
IBHI is categorized as High Yield Bonds, while JSMD is Mid Cap Growth Equities. IBHI tracks Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross, while JSMD tracks Janus Small Mid Cap Growth Alpha Index. They also come from different issuers: iShares and Janus Henderson. Their fees differ too: 0.35% for IBHI and 0.30% for JSMD.
IBHI currently has the higher Sharpe Ratio (1.78 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.
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