JANBX vs. CVTRX

Last updated Jun 3, 2026

JANBX (Janus Henderson Balanced Fund) and CVTRX (Calamos Growth and Income Fund) are both Diversified Portfolio funds. Over the past 10 years, JANBX returned 10.35%/yr vs 13.08%/yr for CVTRX. Their correlation of 0.88 suggests significant overlap in exposure. JANBX charges 0.70%/yr vs 1.05%/yr for CVTRX.

Performance

JANBX vs. CVTRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Balanced Fund (JANBX) and Calamos Growth and Income Fund (CVTRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JANBX achieves a 3.93% return, which is significantly lower than CVTRX's 11.74% return. Over the past 10 years, JANBX has underperformed CVTRX with an annualized return of 10.35%, while CVTRX has yielded a comparatively higher 13.08% annualized return.

JANBX

• 1D: 0.30%
• 1M: 2.80%
• YTD: 3.93%
• 6M: 4.03%
• 1Y: 15.59%
• 3Y*: 14.03%
• 5Y*: 8.00%
• 10Y*: 10.35%

CVTRX

• 1D: 0.30%
• 1M: 5.00%
• YTD: 11.74%
• 6M: 12.22%
• 1Y: 29.01%
• 3Y*: 20.06%
• 5Y*: 11.32%
• 10Y*: 13.08%

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

JANBX vs. CVTRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JANBX Janus Henderson Balanced Fund	3.93%	14.99%	15.36%	15.38%	-16.60%	17.22%	14.34%	22.53%	0.64%	17.78%
CVTRX Calamos Growth and Income Fund	11.74%	17.46%	20.66%	20.36%	-18.45%	21.05%	22.43%	25.97%	-3.97%	16.06%

Correlation

The correlation between JANBX and CVTRX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Sep 4, 1992	0.88

The correlation between JANBX and CVTRX has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.

Return for Risk

JANBX vs. CVTRX — Risk / Return Rank

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

JANBX

JANBX Risk / Return Rank: 36
JANBX Sharpe Ratio Rank: 39
JANBX Sortino Ratio Rank: 39
JANBX Omega Ratio Rank: 38
JANBX Calmar Ratio Rank: 26
JANBX Martin Ratio Rank: 39

CVTRX

CVTRX Risk / Return Rank: 72
CVTRX Sharpe Ratio Rank: 77
CVTRX Sortino Ratio Rank: 69
CVTRX Omega Ratio Rank: 66
CVTRX Calmar Ratio Rank: 71
CVTRX Martin Ratio Rank: 79

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.

JANBX vs. CVTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Balanced Fund (JANBX) and Calamos Growth and Income Fund (CVTRX). 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.

	JANBX	CVTRX	Difference
Sharpe ratio Return per unit of total volatility	1.84	2.54	-0.71
Sortino ratio Return per unit of downside risk	2.63	3.46	-0.83
Omega ratio Gain probability vs. loss probability	1.33	1.45	-0.12
Calmar ratio Return relative to maximum drawdown	1.97	3.27	-1.31
Martin ratio Return relative to average drawdown	8.52	14.85	-6.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JANBX vs. CVTRX - Sharpe Ratio Comparison

The current JANBX Sharpe Ratio is 1.84, which is comparable to the CVTRX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of JANBX and CVTRX, 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

	JANBX	CVTRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	2.54	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.77	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.93	0.85	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.83	-0.15

Drawdowns

JANBX vs. CVTRX - Drawdown Comparison

The maximum JANBX drawdown since its inception was -31.70%, smaller than the maximum CVTRX drawdown of -44.13%. Use the drawdown chart below to compare losses from any high point for JANBX and CVTRX.

Drawdown Indicators

	JANBX	CVTRX	Difference
Max Drawdown Largest peak-to-trough decline	-31.70%	-44.13%	+12.43%
Max Drawdown (1Y) Largest decline over 1 year	-8.13%	-9.14%	+1.01%
Max Drawdown (3Y) Largest decline over 3 years	-11.91%	-16.45%	+4.54%
Max Drawdown (5Y) Largest decline over 5 years	-21.52%	-23.30%	+1.78%
Max Drawdown (10Y) Largest decline over 10 years	-22.49%	-28.20%	+5.71%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.64%	-5.17%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	2.01%	-0.13%

Volatility

JANBX vs. CVTRX - Volatility Comparison

The current volatility for Janus Henderson Balanced Fund (JANBX) is 2.46%, while Calamos Growth and Income Fund (CVTRX) has a volatility of 3.30%. This indicates that JANBX experiences smaller price fluctuations and is considered to be less risky than CVTRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JANBX	CVTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	3.30%	-0.84%
Volatility (6M) Calculated over the trailing 6-month period	6.91%	9.06%	-2.15%
Volatility (1Y) Calculated over the trailing 1-year period	8.71%	11.78%	-3.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.19%	14.83%	-3.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.16%	15.37%	-4.21%

JANBX vs. CVTRX - Expense Ratio Comparison

JANBX has a 0.70% expense ratio, which is lower than CVTRX's 1.05% expense ratio.

Dividends

JANBX vs. CVTRX - Dividend Comparison

JANBX's dividend yield for the trailing twelve months is around 8.50%, more than CVTRX's 6.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CVTRX Calamos Growth and Income Fund	6.60%	7.38%	4.83%	4.18%	4.02%	5.52%	3.22%	3.56%	8.61%	7.21%	7.31%	6.96%
JANBX Janus Henderson Balanced Fund	8.50%	8.78%	6.96%	2.25%	1.95%	4.50%	2.49%	2.85%	7.06%	4.65%	2.55%	5.81%

Frequently Asked Questions

Can I hold both JANBX and CVTRX in my portfolio?

With a correlation of 0.95, JANBX and CVTRX 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, JANBX or CVTRX?

CVTRX has higher volatility (3.30%) compared to JANBX (2.46%). In terms of maximum drawdown, JANBX dropped -31.70% vs CVTRX's -44.13%.

Which has better risk-adjusted returns?

CVTRX currently has the higher Sharpe Ratio (2.54 vs 1.84), 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.