JAMVX vs. HNMVX

Last updated Aug 1, 2026

JAMVX (Janus Henderson VIT Mid Cap Value Portfolio) and HNMVX (Harbor Mid Cap Value Fund Retirement Class) are both Mid Cap Value Equities funds. Over the past 10 years, JAMVX returned 9.00%/yr vs 11.08%/yr for HNMVX. Their correlation of 0.94 means they have usually moved in the same direction. JAMVX charges 0.67%/yr vs 0.77%/yr for HNMVX.

Performance

JAMVX vs. HNMVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson VIT Mid Cap Value Portfolio (JAMVX) and Harbor Mid Cap Value Fund Retirement Class (HNMVX). 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 HNMVX's 23.70% return. Over the past 10 years, JAMVX has underperformed HNMVX with an annualized return of 9.00%, while HNMVX has yielded a comparatively higher 11.08% 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%

HNMVX

• 1D: -0.41%
• 1M: 3.16%
• 6M: 17.58%
• YTD: 23.70%
• 1Y: 40.62%
• 3Y*: 19.16%
• 5Y*: 13.21%
• 10Y*: 11.08%
• ALL TIME*: 11.42%

*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)
HNMVX Harbor Mid Cap Value Fund Retirement Class	$0.00	$0.00	$0.00
JAMVX Janus Henderson VIT Mid Cap Value Portfolio	$0.00	$0.00	$0.00

JAMVX vs. HNMVX - 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%
HNMVX Harbor Mid Cap Value Fund Retirement Class	23.70%	16.06%	12.22%	16.52%	-5.58%	30.06%	-3.70%	23.06%	-17.76%	12.09%

Correlation

The correlation between JAMVX and HNMVX is 0.88, 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.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since Mar 1, 2016	0.94

The correlation between JAMVX and HNMVX has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

Return for Risk

JAMVX vs. HNMVX — 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

HNMVX

HNMVX Risk / Return Rank: 97
HNMVX Sharpe Ratio Rank: 98
HNMVX Sortino Ratio Rank: 97
HNMVX Omega Ratio Rank: 93
HNMVX Calmar Ratio Rank: 97
HNMVX Martin Ratio Rank: 98

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. HNMVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson VIT Mid Cap Value Portfolio (JAMVX) and Harbor Mid Cap Value Fund Retirement Class (HNMVX). 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	HNMVX	Difference
Sharpe ratio: Return per unit of total volatility	1.27	3.01	-1.73
Sortino ratio: Return per unit of downside risk	1.93	4.38	-2.45
Omega ratio: Gain probability vs. loss probability	1.22	1.54	-0.31
Calmar ratio: Return relative to maximum drawdown	1.93	5.71	-3.78
Martin ratio: Return relative to average drawdown	7.28	21.49	-14.21

JAMVX vs. HNMVX - Sharpe Ratio Comparison

The current JAMVX Sharpe Ratio is 1.27, which is lower than the HNMVX Sharpe Ratio of 3.01. The chart below compares the historical Sharpe Ratios of JAMVX and HNMVX, 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. HNMVX - Drawdown Comparison

The maximum JAMVX drawdown since its inception was -46.19%, smaller than the maximum HNMVX drawdown of -51.33%. Use the drawdown chart below to compare losses from any high point for JAMVX and HNMVX.

Drawdown Indicators

	JAMVX	HNMVX	Difference
Max Drawdown Largest peak-to-trough decline	-46.19%	-51.33%	+5.14%
Max Drawdown (1Y) Largest decline over 1 year	-8.61%	-6.84%	-1.77%
Max Drawdown (3Y) Largest decline over 3 years	-19.83%	-21.00%	+1.17%
Max Drawdown (5Y) Largest decline over 5 years	-19.83%	-21.00%	+1.17%
Max Drawdown (10Y) Largest decline over 10 years	-39.82%	-51.33%	+11.51%
Current Drawdown Current decline from peak	-1.57%	-1.31%	-0.26%
Average Drawdown Average peak-to-trough decline	-6.55%	-7.02%	+0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	1.82%	+0.47%

Volatility

JAMVX vs. HNMVX - Volatility Comparison

The current volatility for Janus Henderson VIT Mid Cap Value Portfolio (JAMVX) is 2.71%, while Harbor Mid Cap Value Fund Retirement Class (HNMVX) has a volatility of 2.94%. This indicates that JAMVX experiences smaller price fluctuations and is considered to be less risky than HNMVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JAMVX	HNMVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	2.94%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	9.54%	8.87%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	13.06%	13.01%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.35%	18.70%	-2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.89%	21.84%	-3.95%

JAMVX vs. HNMVX - Expense Ratio Comparison

JAMVX has a 0.67% expense ratio, which is lower than HNMVX's 0.77% expense ratio.

Dividends

JAMVX vs. HNMVX - Dividend Comparison

JAMVX's dividend yield for the trailing twelve months is around 4.19%, less than HNMVX's 7.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HNMVX Harbor Mid Cap Value Fund Retirement Class	7.09%	8.77%	5.87%	7.28%	8.35%	1.35%	2.43%	3.21%	8.52%	3.91%	3.11%	0.00%
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 HNMVX in my portfolio?

JAMVX and HNMVX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JAMVX or HNMVX?

HNMVX has higher volatility (2.94%) compared to JAMVX (2.71%). In terms of maximum drawdown, JAMVX dropped -46.19% vs HNMVX's -51.33%.

Which has better risk-adjusted returns?

HNMVX currently has the higher Sharpe Ratio (3.01 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.