JAMVX vs. FIUSX

Last updated Aug 1, 2026

JAMVX (Janus Henderson VIT Mid Cap Value Portfolio) and FIUSX (Delaware Opportunity Fund) are both Mid Cap Value Equities funds. Over the past 10 years, JAMVX returned 9.00%/yr vs 10.81%/yr for FIUSX. Their correlation of 0.93 means they have usually moved in the same direction. JAMVX charges 0.67%/yr vs 1.15%/yr for FIUSX.

Performance

JAMVX vs. FIUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson VIT Mid Cap Value Portfolio (JAMVX) and Delaware Opportunity Fund (FIUSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JAMVX achieves a 13.37% return, which is significantly lower than FIUSX's 20.40% return. Over the past 10 years, JAMVX has underperformed FIUSX with an annualized return of 9.00%, while FIUSX has yielded a comparatively higher 10.81% annualized return.

JAMVX

• 1D: -0.10%
• 1M: -0.36%
• 6M: 7.97%
• YTD: 13.37%
• 1Y: 19.31%
• 3Y*: 12.37%
• 5Y*: 8.64%
• 10Y*: 9.00%
• ALL TIME*: 9.11%

FIUSX

• 1D: 0.72%
• 1M: 0.23%
• 6M: 14.67%
• YTD: 20.40%
• 1Y: 31.34%
• 3Y*: 17.45%
• 5Y*: 11.30%
• 10Y*: 10.81%
• ALL TIME*: 8.99%

*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)
FIUSX Delaware Opportunity Fund	$0.00	$0.00	$0.00
JAMVX Janus Henderson VIT Mid Cap Value Portfolio	$0.00	$0.00	$0.00

JAMVX vs. FIUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JAMVX Janus Henderson VIT Mid Cap Value Portfolio	13.37%	6.55%	13.06%	11.41%	-5.51%	19.72%	-1.08%	30.39%	-13.59%	13.98%
FIUSX Delaware Opportunity Fund	20.40%	12.60%	14.07%	11.68%	-9.62%	30.95%	0.88%	29.58%	-15.71%	18.67%

Correlation

The correlation between JAMVX and FIUSX is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Apr 28, 2000	0.93

The correlation between JAMVX and FIUSX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

JAMVX vs. FIUSX — Risk / Return Rank

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

JAMVX

JAMVX Risk / Return Rank: 45
JAMVX Sharpe Ratio Rank: 41
JAMVX Sortino Ratio Rank: 45
JAMVX Omega Ratio Rank: 37
JAMVX Calmar Ratio Rank: 49
JAMVX Martin Ratio Rank: 51

FIUSX

FIUSX Risk / Return Rank: 89
FIUSX Sharpe Ratio Rank: 86
FIUSX Sortino Ratio Rank: 85
FIUSX Omega Ratio Rank: 81
FIUSX Calmar Ratio Rank: 96
FIUSX Martin Ratio Rank: 95

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.

JAMVX vs. FIUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson VIT Mid Cap Value Portfolio (JAMVX) and Delaware Opportunity Fund (FIUSX). 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.

	JAMVX	FIUSX	Difference
Sharpe ratio: Return per unit of total volatility	1.27	2.12	-0.84
Sortino ratio: Return per unit of downside risk	1.93	3.08	-1.15
Omega ratio: Gain probability vs. loss probability	1.22	1.37	-0.15
Calmar ratio: Return relative to maximum drawdown	1.93	4.38	-2.45
Martin ratio: Return relative to average drawdown	7.28	16.24	-8.96

JAMVX vs. FIUSX - Sharpe Ratio Comparison

The current JAMVX Sharpe Ratio is 1.27, which is lower than the FIUSX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of JAMVX and FIUSX, 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

JAMVX vs. FIUSX - Drawdown Comparison

The maximum JAMVX drawdown since its inception was -46.19%, smaller than the maximum FIUSX drawdown of -56.30%. Use the drawdown chart below to compare losses from any high point for JAMVX and FIUSX.

Drawdown Indicators

	JAMVX	FIUSX	Difference
Max Drawdown Largest peak-to-trough decline	-46.19%	-56.30%	+10.11%
Max Drawdown (1Y) Largest decline over 1 year	-8.61%	-6.75%	-1.86%
Max Drawdown (3Y) Largest decline over 3 years	-19.83%	-21.69%	+1.86%
Max Drawdown (5Y) Largest decline over 5 years	-19.83%	-21.69%	+1.86%
Max Drawdown (10Y) Largest decline over 10 years	-39.82%	-46.38%	+6.56%
Current Drawdown Current decline from peak	-1.57%	-1.08%	-0.49%
Average Drawdown Average peak-to-trough decline	-6.55%	-9.41%	+2.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	1.82%	+0.47%

Volatility

JAMVX vs. FIUSX - Volatility Comparison

The current volatility for Janus Henderson VIT Mid Cap Value Portfolio (JAMVX) is 2.71%, while Delaware Opportunity Fund (FIUSX) has a volatility of 2.98%. This indicates that JAMVX experiences smaller price fluctuations and is considered to be less risky than FIUSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JAMVX	FIUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	2.98%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	9.54%	10.60%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	13.06%	13.96%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.35%	18.05%	-1.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.89%	20.51%	-2.62%

JAMVX vs. FIUSX - Expense Ratio Comparison

JAMVX has a 0.67% expense ratio, which is lower than FIUSX's 1.15% expense ratio.

Dividends

JAMVX vs. FIUSX - Dividend Comparison

JAMVX's dividend yield for the trailing twelve months is around 4.19%, less than FIUSX's 9.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIUSX Delaware Opportunity Fund	9.58%	11.53%	12.68%	2.85%	8.96%	5.62%	1.60%	40.65%	12.11%	6.00%	4.23%	1.14%
JAMVX Janus Henderson VIT Mid Cap Value Portfolio	4.19%	10.85%	6.16%	3.67%	9.77%	0.43%	2.85%	8.72%	12.17%	4.32%	14.88%	12.31%

Frequently Asked Questions

Can I hold both JAMVX and FIUSX in my portfolio?

With a correlation of 0.92, JAMVX and FIUSX 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, JAMVX or FIUSX?

FIUSX has higher volatility (2.98%) compared to JAMVX (2.71%). In terms of maximum drawdown, JAMVX dropped -46.19% vs FIUSX's -56.30%.

Which has better risk-adjusted returns?

FIUSX currently has the higher Sharpe Ratio (2.12 vs 1.27), 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.