JANBX vs. JAFLX

Last updated Jun 5, 2026

JANBX (Janus Henderson Balanced Fund) and JAFLX (Janus Henderson VIT Flexible Bond Portfolio) are both mutual funds - JANBX is a Diversified Portfolio fund managed by Janus Henderson, while JAFLX is a Intermediate Core-Plus Bond fund managed by Janus Henderson. Over the past 10 years, JANBX returned 10.29%/yr vs 2.00%/yr for JAFLX. At a 0.07 correlation, their price movements are largely independent. JANBX charges 0.70%/yr vs 0.57%/yr for JAFLX.

Performance

JANBX vs. JAFLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Balanced Fund (JANBX) and Janus Henderson VIT Flexible Bond Portfolio (JAFLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JANBX achieves a 3.37% return, which is significantly higher than JAFLX's 0.10% return. Over the past 10 years, JANBX has outperformed JAFLX with an annualized return of 10.29%, while JAFLX has yielded a comparatively lower 2.00% annualized return.

JANBX

• 1D: -0.54%
• 1M: 2.14%
• YTD: 3.37%
• 6M: 3.46%
• 1Y: 14.09%
• 3Y*: 13.83%
• 5Y*: 7.77%
• 10Y*: 10.29%

JAFLX

• 1D: -0.20%
• 1M: 0.00%
• YTD: 0.10%
• 6M: 0.26%
• 1Y: 4.62%
• 3Y*: 4.25%
• 5Y*: 0.17%
• 10Y*: 2.00%

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

JANBX vs. JAFLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JANBX Janus Henderson Balanced Fund	3.37%	14.99%	15.36%	15.38%	-16.60%	17.22%	14.34%	22.53%	0.64%	17.78%
JAFLX Janus Henderson VIT Flexible Bond Portfolio	0.10%	7.41%	1.96%	5.52%	-13.64%	-0.89%	10.48%	9.57%	-1.00%	3.62%

Correlation

The correlation between JANBX and JAFLX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Sep 14, 1993	0.07

Over the past year, JANBX and JAFLX have become more correlated (0.40) than their long-term average of 0.07, meaning their price movements have been converging.

Return for Risk

JANBX vs. JAFLX — Risk / Return Rank

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

JANBX

JANBX Risk / Return Rank: 32
JANBX Sharpe Ratio Rank: 34
JANBX Sortino Ratio Rank: 33
JANBX Omega Ratio Rank: 34
JANBX Calmar Ratio Rank: 24
JANBX Martin Ratio Rank: 35

JAFLX

JAFLX Risk / Return Rank: 25
JAFLX Sharpe Ratio Rank: 25
JAFLX Sortino Ratio Rank: 26
JAFLX Omega Ratio Rank: 26
JAFLX Calmar Ratio Rank: 26
JAFLX Martin Ratio Rank: 23

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. JAFLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Balanced Fund (JANBX) and Janus Henderson VIT Flexible Bond Portfolio (JAFLX). 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	JAFLX	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.42	+0.27
Sortino ratio: Return per unit of downside risk	2.42	2.09	+0.33
Omega ratio: Gain probability vs. loss probability	1.30	1.26	+0.04
Calmar ratio: Return relative to maximum drawdown	1.80	1.84	-0.04
Martin ratio: Return relative to average drawdown	7.79	5.64	+2.15
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. JAFLX - Sharpe Ratio Comparison

The current JANBX Sharpe Ratio is 1.68, which is comparable to the JAFLX Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of JANBX and JAFLX, 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	JAFLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	1.42	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.03	+0.67
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.93	0.41	+0.52
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	1.04	-0.36

Drawdowns

JANBX vs. JAFLX - Drawdown Comparison

The maximum JANBX drawdown since its inception was -31.70%, which is greater than JAFLX's maximum drawdown of -18.06%. Use the drawdown chart below to compare losses from any high point for JANBX and JAFLX.

Drawdown Indicators

	JANBX	JAFLX	Difference
Max Drawdown Largest peak-to-trough decline	-31.70%	-18.06%	-13.64%
Max Drawdown (1Y) Largest decline over 1 year	-8.13%	-2.87%	-5.26%
Max Drawdown (3Y) Largest decline over 3 years	-11.91%	-6.51%	-5.40%
Max Drawdown (5Y) Largest decline over 5 years	-21.52%	-18.06%	-3.46%
Max Drawdown (10Y) Largest decline over 10 years	-22.49%	-18.06%	-4.43%
Current Drawdown Current decline from peak	-0.54%	-1.68%	+1.14%
Average Drawdown Average peak-to-trough decline	-6.64%	-2.12%	-4.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	0.93%	+0.95%

Volatility

JANBX vs. JAFLX - Volatility Comparison

Janus Henderson Balanced Fund (JANBX) has a higher volatility of 2.50% compared to Janus Henderson VIT Flexible Bond Portfolio (JAFLX) at 1.40%. This indicates that JANBX's price experiences larger fluctuations and is considered to be riskier than JAFLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JANBX	JAFLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	1.40%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	6.91%	2.69%	+4.22%
Volatility (1Y) Calculated over the trailing 1-year period	8.71%	3.73%	+4.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.19%	6.06%	+5.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.16%	4.94%	+6.22%

JANBX vs. JAFLX - Expense Ratio Comparison

JANBX has a 0.70% expense ratio, which is higher than JAFLX's 0.57% expense ratio.

Dividends

JANBX vs. JAFLX - Dividend Comparison

JANBX's dividend yield for the trailing twelve months is around 8.54%, more than JAFLX's 5.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JAFLX Janus Henderson VIT Flexible Bond Portfolio	5.33%	5.34%	5.09%	4.27%	4.75%	4.84%	2.87%	3.31%	3.21%	2.98%	2.92%	2.90%
JANBX Janus Henderson Balanced Fund	8.54%	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 JAFLX in my portfolio?

JANBX and JAFLX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JANBX or JAFLX?

JANBX has higher volatility (2.50%) compared to JAFLX (1.40%). In terms of maximum drawdown, JANBX dropped -31.70% vs JAFLX's -18.06%.

Which has better risk-adjusted returns?

JANBX currently has the higher Sharpe Ratio (1.68 vs 1.42), 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.