JAAGX vs. FMDGX

Last updated Apr 2, 2026

Compare and contrast key facts about Janus Henderson VIT Enterprise Portfolio (JAAGX) and Fidelity Mid Cap Growth Index Fund (FMDGX).

JAAGX is managed by Janus Henderson. It was launched on Sep 13, 1993. FMDGX is managed by Fidelity. It was launched on Jul 11, 2019.

Performance

JAAGX vs. FMDGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson VIT Enterprise Portfolio (JAAGX) and Fidelity Mid Cap Growth Index Fund (FMDGX). The values are adjusted to include any dividend payments, if applicable.

JAAGX vs. FMDGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
JAAGX Janus Henderson VIT Enterprise Portfolio	-5.89%	7.68%	15.56%	18.04%	-15.71%	16.89%	18.93%	5.74%
FMDGX Fidelity Mid Cap Growth Index Fund	-6.36%	8.60%	22.03%	25.79%	-26.67%	12.67%	34.84%	4.63%

Returns By Period

In the year-to-date period, JAAGX achieves a -5.89% return, which is significantly higher than FMDGX's -6.36% return.

JAAGX

• 1D: 2.73%
• 1M: -5.65%
• YTD: -5.89%
• 6M: -3.88%
• 1Y: 5.28%
• 3Y*: 8.49%
• 5Y*: 5.07%
• 10Y*: 11.72%

FMDGX

• 1D: 3.60%
• 1M: -6.39%
• YTD: -6.36%
• 6M: -9.60%
• 1Y: 8.49%
• 3Y*: 12.67%
• 5Y*: 4.92%
• 10Y*: —

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

JAAGX vs. FMDGX - Expense Ratio Comparison

JAAGX has a 0.71% expense ratio, which is higher than FMDGX's 0.05% expense ratio.

JAAGX

Janus Henderson VIT Enterprise Portfolio

FMDGX

Fidelity Mid Cap Growth Index Fund

Return for Risk

JAAGX vs. FMDGX — Risk / Return Rank

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

JAAGX

JAAGX Risk / Return Rank: 11
JAAGX Sharpe Ratio Rank: 9
JAAGX Sortino Ratio Rank: 10
JAAGX Omega Ratio Rank: 9
JAAGX Calmar Ratio Rank: 12
JAAGX Martin Ratio Rank: 13

FMDGX

FMDGX Risk / Return Rank: 16
FMDGX Sharpe Ratio Rank: 14
FMDGX Sortino Ratio Rank: 16
FMDGX Omega Ratio Rank: 14
FMDGX Calmar Ratio Rank: 20
FMDGX Martin Ratio Rank: 18

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.

JAAGX vs. FMDGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson VIT Enterprise Portfolio (JAAGX) and Fidelity Mid Cap Growth Index Fund (FMDGX). 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.

	JAAGX	FMDGX	Difference
Sharpe ratio Return per unit of total volatility	0.30	0.41	-0.11
Sortino ratio Return per unit of downside risk	0.56	0.76	-0.20
Omega ratio Gain probability vs. loss probability	1.08	1.10	-0.02
Calmar ratio Return relative to maximum drawdown	0.46	0.63	-0.17
Martin ratio Return relative to average drawdown	1.60	1.97	-0.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JAAGX vs. FMDGX - Sharpe Ratio Comparison

The current JAAGX Sharpe Ratio is 0.30, which is comparable to the FMDGX Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of JAAGX and FMDGX, 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

	JAAGX	FMDGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.30	0.41	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.22	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.38	+0.09

Correlation

The correlation between JAAGX and FMDGX is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JAAGX vs. FMDGX - Dividend Comparison

JAAGX's dividend yield for the trailing twelve months is around 8.48%, more than FMDGX's 1.98% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JAAGX Janus Henderson VIT Enterprise Portfolio	8.48%	7.98%	4.65%	6.88%	20.52%	8.86%	6.34%	5.74%	5.49%	6.23%	8.15%	12.63%
FMDGX Fidelity Mid Cap Growth Index Fund	1.98%	1.85%	0.47%	0.63%	0.81%	6.43%	0.36%	0.29%	0.00%	0.00%	0.00%	0.00%

Drawdowns

JAAGX vs. FMDGX - Drawdown Comparison

The maximum JAAGX drawdown since its inception was -80.37%, which is greater than FMDGX's maximum drawdown of -38.59%. Use the drawdown chart below to compare losses from any high point for JAAGX and FMDGX.

Drawdown Indicators

	JAAGX	FMDGX	Difference
Max Drawdown Largest peak-to-trough decline	-80.37%	-38.59%	-41.78%
Max Drawdown (1Y) Largest decline over 1 year	-12.56%	-14.75%	+2.19%
Max Drawdown (5Y) Largest decline over 5 years	-23.79%	-38.59%	+14.80%
Max Drawdown (10Y) Largest decline over 10 years	-38.54%	—	—
Current Drawdown Current decline from peak	-8.96%	-11.68%	+2.72%
Average Drawdown Average peak-to-trough decline	-26.23%	-11.34%	-14.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.59%	4.70%	-1.11%

Volatility

JAAGX vs. FMDGX - Volatility Comparison

The current volatility for Janus Henderson VIT Enterprise Portfolio (JAAGX) is 5.42%, while Fidelity Mid Cap Growth Index Fund (FMDGX) has a volatility of 6.94%. This indicates that JAAGX experiences smaller price fluctuations and is considered to be less risky than FMDGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JAAGX	FMDGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	6.94%	-1.52%
Volatility (6M) Calculated over the trailing 6-month period	10.47%	13.16%	-2.69%
Volatility (1Y) Calculated over the trailing 1-year period	18.70%	23.17%	-4.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.62%	22.41%	-4.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.75%	24.50%	-5.75%