JATTX vs. FSMD
JATTX (Janus Henderson Triton Fund Class T) and FSMD (Fidelity Small-Mid Multifactor ETF) are both funds - JATTX is a Small Cap Growth Equities fund managed by Janus Henderson, while FSMD is a Small Cap Blend Equities fund tracking the Fidelity Small-Mid Multifactor Index. Over the past 5 years, JATTX returned 4.07%/yr vs 9.94%/yr for FSMD. Their correlation of 0.90 means they have usually moved in the same direction. JATTX charges 0.91%/yr vs 0.15%/yr for FSMD.
Performance
JATTX vs. FSMD - Performance Comparison
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Returns By Period
In the year-to-date period, JATTX achieves a 14.05% return, which is significantly lower than FSMD's 15.80% return.
JATTX
- 1D
- 0.76%
- 1M
- -2.43%
- 6M
- 10.65%
- YTD
- 14.05%
- 1Y
- 23.37%
- 3Y*
- 11.74%
- 5Y*
- 4.07%
- 10Y*
- 9.99%
- ALL TIME*
- 11.23%
FSMD
- 1D
- -0.12%
- 1M
- -1.72%
- 6M
- 11.82%
- YTD
- 15.80%
- 1Y
- 24.59%
- 3Y*
- 15.14%
- 5Y*
- 9.94%
- 10Y*
- —
- ALL TIME*
- 11.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.61M | $5.11M | $5.82M | |
| $0.00 | $0.00 | $0.00 |
JATTX vs. FSMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
JATTX Janus Henderson Triton Fund Class T | 14.05% | 9.54% | 10.30% | 14.52% | -23.75% | 6.63% | 28.41% | 8.45% |
FSMD Fidelity Small-Mid Multifactor ETF | 15.80% | 8.70% | 15.18% | 17.37% | -11.15% | 26.40% | 8.94% | 8.81% |
Correlation
The correlation between JATTX and FSMD 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. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2019 | 0.90 |
The correlation between JATTX and FSMD has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.
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Return for Risk
JATTX vs. FSMD — Risk / Return Rank
JATTX
FSMD
JATTX vs. FSMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Triton Fund Class T (JATTX) and Fidelity Small-Mid Multifactor ETF (FSMD). 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.
| JATTX | FSMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.26 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 2.71 | -0.85 |
| Martin ratioReturn relative to average drawdown | 7.53 | 9.08 | -1.55 |
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Drawdowns
JATTX vs. FSMD - Drawdown Comparison
The maximum JATTX drawdown since its inception was -57.77%, which is greater than FSMD's maximum drawdown of -40.67%. Use the drawdown chart below to compare losses from any high point for JATTX and FSMD.
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Drawdown Indicators
| JATTX | FSMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.77% | -40.67% | -17.10% |
Max Drawdown (1Y)Largest decline over 1 year | -11.09% | -8.44% | -2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -23.90% | -22.16% | -1.74% |
Max Drawdown (5Y)Largest decline over 5 years | -31.90% | -22.16% | -9.74% |
Max Drawdown (10Y)Largest decline over 10 years | -39.71% | — | — |
Current DrawdownCurrent decline from peak | -3.17% | -3.99% | +0.82% |
Average DrawdownAverage peak-to-trough decline | -8.71% | -5.92% | -2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.74% | 2.52% | +0.22% |
Volatility
JATTX vs. FSMD - Volatility Comparison
The current volatility for Janus Henderson Triton Fund Class T (JATTX) is 3.50%, while Fidelity Small-Mid Multifactor ETF (FSMD) has a volatility of 4.05%. This indicates that JATTX experiences smaller price fluctuations and is considered to be less risky than FSMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JATTX | FSMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | 4.05% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 13.33% | 12.33% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.77% | 15.87% | +0.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.71% | 18.54% | +1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.56% | 21.32% | -0.76% |
JATTX vs. FSMD - Expense Ratio Comparison
JATTX has a 0.91% expense ratio, which is higher than FSMD's 0.15% expense ratio.
Dividends
JATTX vs. FSMD - Dividend Comparison
JATTX's dividend yield for the trailing twelve months is around 10.11%, more than FSMD's 1.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSMD Fidelity Small-Mid Multifactor ETF | 1.25% | 1.33% | 1.29% | 1.37% | 1.54% | 1.18% | 1.32% | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% |
JATTX Janus Henderson Triton Fund Class T | 10.11% | 11.54% | 7.74% | 7.29% | 6.35% | 20.71% | 4.17% | 4.30% | 7.56% | 5.11% | 2.83% | 7.89% |
Frequently Asked Questions
JATTX and FSMD 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.
FSMD has higher volatility (4.05%) compared to JATTX (3.50%). In terms of maximum drawdown, JATTX dropped -57.77% vs FSMD's -40.67%.
FSMD currently has the higher Sharpe Ratio (1.44 vs 1.23), 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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