JARTX vs. JNRFX
JARTX (Janus Henderson Forty Fund) and JNRFX (Janus Henderson Research Fund) are both Large Cap Growth Equities funds from Janus Henderson. Over the past 10 years, JARTX returned 16.55%/yr vs 16.94%/yr for JNRFX. Their correlation of 0.94 suggests significant overlap in exposure. JARTX charges 1.20%/yr vs 0.66%/yr for JNRFX.
Performance
JARTX vs. JNRFX - Performance Comparison
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Returns By Period
In the year-to-date period, JARTX achieves a 3.68% return, which is significantly lower than JNRFX's 6.24% return. Both investments have delivered pretty close results over the past 10 years, with JARTX having a 16.55% annualized return and JNRFX not far ahead at 16.94%.
JARTX
- 1D
- -1.42%
- 1M
- -0.08%
- YTD
- 3.68%
- 6M
- 2.80%
- 1Y
- 18.02%
- 3Y*
- 20.78%
- 5Y*
- 9.09%
- 10Y*
- 16.55%
JNRFX
- 1D
- -1.50%
- 1M
- 1.05%
- YTD
- 6.24%
- 6M
- 5.12%
- 1Y
- 20.73%
- 3Y*
- 24.58%
- 5Y*
- 13.09%
- 10Y*
- 16.94%
JARTX vs. JNRFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JARTX Janus Henderson Forty Fund | 3.68% | 17.88% | 27.76% | 39.50% | -33.81% | 22.30% | 38.69% | 36.30% | 1.10% | 29.05% |
JNRFX Janus Henderson Research Fund | 6.24% | 18.45% | 35.13% | 43.14% | -29.96% | 20.19% | 32.82% | 35.40% | -2.73% | 25.90% |
Correlation
The correlation between JARTX and JNRFX 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 Apr 30, 1997 | 0.94 |
The correlation between JARTX and JNRFX has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.
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Return for Risk
JARTX vs. JNRFX — Risk / Return Rank
JARTX
JNRFX
JARTX vs. JNRFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Forty Fund (JARTX) and Janus Henderson Research Fund (JNRFX). 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.
| JARTX | JNRFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.23 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 1.29 | -0.29 |
| Martin ratioReturn relative to average drawdown | 3.19 | 4.38 | -1.19 |
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Drawdowns
JARTX vs. JNRFX - Drawdown Comparison
The maximum JARTX drawdown since its inception was -56.70%, smaller than the maximum JNRFX drawdown of -74.74%. Use the drawdown chart below to compare losses from any high point for JARTX and JNRFX.
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Drawdown Indicators
| JARTX | JNRFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.70% | -74.74% | +18.04% |
Max Drawdown (1Y)Largest decline over 1 year | -19.19% | -17.05% | -2.14% |
Max Drawdown (3Y)Largest decline over 3 years | -22.22% | -22.66% | +0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -41.09% | -36.48% | -4.61% |
Max Drawdown (10Y)Largest decline over 10 years | -41.09% | -36.48% | -4.61% |
Current DrawdownCurrent decline from peak | -4.70% | -2.98% | -1.72% |
Average DrawdownAverage peak-to-trough decline | -16.81% | -24.92% | +8.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.98% | 5.01% | +0.97% |
Volatility
JARTX vs. JNRFX - Volatility Comparison
Janus Henderson Forty Fund (JARTX) and Janus Henderson Research Fund (JNRFX) have volatilities of 7.58% and 7.28%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JARTX | JNRFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.58% | 7.28% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 14.81% | 13.79% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.61% | 17.10% | +1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.18% | 22.22% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.55% | 21.43% | +0.12% |
JARTX vs. JNRFX - Expense Ratio Comparison
JARTX has a 1.20% expense ratio, which is higher than JNRFX's 0.66% expense ratio.
Dividends
JARTX vs. JNRFX - Dividend Comparison
JARTX's dividend yield for the trailing twelve months is around 13.17%, more than JNRFX's 11.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JARTX Janus Henderson Forty Fund | 13.17% | 13.65% | 11.51% | 9.10% | 0.06% | 10.26% | 8.38% | 7.05% | 8.95% | 14.50% | 6.57% | 15.93% |
JNRFX Janus Henderson Research Fund | 11.24% | 11.94% | 5.11% | 2.93% | 0.43% | 13.01% | 2.98% | 10.37% | 11.06% | 8.22% | 5.41% | 9.21% |
Frequently Asked Questions
With a correlation of 0.96, JARTX and JNRFX 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.
JARTX has higher volatility (7.58%) compared to JNRFX (7.28%). In terms of maximum drawdown, JARTX dropped -56.70% vs JNRFX's -74.74%.
JNRFX currently has the higher Sharpe Ratio (1.29 vs 1.03), 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.
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