JAGRX vs. JARTX

Last updated Jun 4, 2026

JAGRX (Janus Henderson VIT Research Portfolio) and JARTX (Janus Henderson Forty Fund) are both Large Cap Growth Equities funds from Janus Henderson. Over the past 10 years, JAGRX returned 16.95%/yr vs 16.50%/yr for JARTX. Their correlation of 0.93 suggests significant overlap in exposure. JAGRX charges 0.60%/yr vs 1.20%/yr for JARTX.

Performance

JAGRX vs. JARTX - Performance Comparison

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

Returns By Period

In the year-to-date period, JAGRX achieves a 9.24% return, which is significantly higher than JARTX's 8.23% return. Both investments have delivered pretty close results over the past 10 years, with JAGRX having a 16.95% annualized return and JARTX not far behind at 16.50%.

JAGRX

• 1D: -0.24%
• 1M: 7.60%
• YTD: 9.24%
• 6M: 8.76%
• 1Y: 25.49%
• 3Y*: 26.41%
• 5Y*: 15.13%
• 10Y*: 16.95%

JARTX

• 1D: -0.52%
• 1M: 7.14%
• YTD: 8.23%
• 6M: 7.92%
• 1Y: 26.33%
• 3Y*: 22.99%
• 5Y*: 11.28%
• 10Y*: 16.50%

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

JAGRX vs. JARTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JAGRX Janus Henderson VIT Research Portfolio	9.24%	18.43%	35.33%	43.17%	-29.45%	20.41%	32.28%	35.60%	-2.58%	27.90%
JARTX Janus Henderson Forty Fund	8.23%	17.88%	27.76%	39.50%	-33.81%	22.30%	38.69%	36.30%	1.10%	29.05%

Correlation

The correlation between JAGRX and JARTX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since May 1, 1997	0.93

The correlation between JAGRX and JARTX has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.

Return for Risk

JAGRX vs. JARTX — Risk / Return Rank

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

JAGRX

JAGRX Risk / Return Rank: 27
JAGRX Sharpe Ratio Rank: 33
JAGRX Sortino Ratio Rank: 30
JAGRX Omega Ratio Rank: 31
JAGRX Calmar Ratio Rank: 18
JAGRX Martin Ratio Rank: 20

JARTX

JARTX Risk / Return Rank: 23
JARTX Sharpe Ratio Rank: 30
JARTX Sortino Ratio Rank: 27
JARTX Omega Ratio Rank: 27
JARTX Calmar Ratio Rank: 16
JARTX Martin Ratio Rank: 16

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.

JAGRX vs. JARTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson VIT Research Portfolio (JAGRX) 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.

	JAGRX	JARTX	Difference
Sharpe ratio Return per unit of total volatility	1.67	1.56	+0.11
Sortino ratio Return per unit of downside risk	2.30	2.14	+0.16
Omega ratio Gain probability vs. loss probability	1.29	1.27	+0.02
Calmar ratio Return relative to maximum drawdown	1.55	1.42	+0.14
Martin ratio Return relative to average drawdown	5.36	4.62	+0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JAGRX vs. JARTX - Sharpe Ratio Comparison

The current JAGRX Sharpe Ratio is 1.67, which is comparable to the JARTX Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of JAGRX and JARTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JAGRX	JARTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	1.56	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.52	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.77	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.59	-0.08

Drawdowns

JAGRX vs. JARTX - Drawdown Comparison

The maximum JAGRX drawdown since its inception was -63.35%, which is greater than JARTX's maximum drawdown of -56.70%. Use the drawdown chart below to compare losses from any high point for JAGRX and JARTX.

Drawdown Indicators

	JAGRX	JARTX	Difference
Max Drawdown Largest peak-to-trough decline	-63.35%	-56.70%	-6.65%
Max Drawdown (1Y) Largest decline over 1 year	-17.07%	-19.19%	+2.12%
Max Drawdown (3Y) Largest decline over 3 years	-22.69%	-22.22%	-0.47%
Max Drawdown (5Y) Largest decline over 5 years	-35.99%	-41.09%	+5.10%
Max Drawdown (10Y) Largest decline over 10 years	-35.99%	-41.09%	+5.10%
Current Drawdown Current decline from peak	-0.24%	-0.52%	+0.28%
Average Drawdown Average peak-to-trough decline	-18.39%	-16.84%	-1.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.94%	5.88%	-0.94%

Volatility

JAGRX vs. JARTX - Volatility Comparison

The current volatility for Janus Henderson VIT Research Portfolio (JAGRX) is 3.77%, while Janus Henderson Forty Fund (JARTX) has a volatility of 4.46%. This indicates that JAGRX experiences smaller price fluctuations and is considered to be less risky than JARTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JAGRX	JARTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	4.46%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	12.33%	13.43%	-1.10%
Volatility (1Y) Calculated over the trailing 1-year period	15.88%	17.41%	-1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.06%	21.99%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.33%	21.45%	-0.12%

JAGRX vs. JARTX - Expense Ratio Comparison

JAGRX has a 0.60% expense ratio, which is lower than JARTX's 1.20% expense ratio.

Dividends

JAGRX vs. JARTX - Dividend Comparison

JAGRX's dividend yield for the trailing twelve months is around 6.78%, less than JARTX's 12.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JAGRX Janus Henderson VIT Research Portfolio	6.78%	7.41%	2.63%	0.12%	24.98%	4.91%	7.66%	10.73%	6.12%	1.23%	6.99%	22.73%
JARTX Janus Henderson Forty Fund	12.61%	13.65%	11.51%	9.10%	0.06%	10.26%	8.38%	7.05%	8.95%	14.50%	6.57%	15.93%

Frequently Asked Questions

Can I hold both JAGRX and JARTX in my portfolio?

With a correlation of 0.96, JAGRX and JARTX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JAGRX or JARTX?

JARTX has higher volatility (4.46%) compared to JAGRX (3.77%). In terms of maximum drawdown, JAGRX dropped -63.35% vs JARTX's -56.70%.

Which has better risk-adjusted returns?

JAGRX currently has the higher Sharpe Ratio (1.67 vs 1.56), 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.