JDBAX vs. AOBLX

Last updated Jun 25, 2026

JDBAX (Janus Henderson Balanced Fund Class A) and AOBLX (Victory Pioneer Balanced Fund Class A) are both Diversified Portfolio funds. Over the past 10 years, JDBAX returned 11.04%/yr vs 10.35%/yr for AOBLX. Their correlation of 0.93 suggests significant overlap in exposure. JDBAX charges 0.89%/yr vs 0.93%/yr for AOBLX.

Performance

JDBAX vs. AOBLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Balanced Fund Class A (JDBAX) and Victory Pioneer Balanced Fund Class A (AOBLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JDBAX achieves a 2.35% return, which is significantly lower than AOBLX's 12.92% return. Over the past 10 years, JDBAX has outperformed AOBLX with an annualized return of 11.04%, while AOBLX has yielded a comparatively lower 10.35% annualized return.

JDBAX

• 1D: -1.01%
• 1M: 0.04%
• YTD: 2.35%
• 6M: 1.57%
• 1Y: 11.20%
• 3Y*: 14.85%
• 5Y*: 8.08%
• 10Y*: 11.04%

AOBLX

• 1D: -0.84%
• 1M: 0.78%
• YTD: 12.92%
• 6M: 12.22%
• 1Y: 29.60%
• 3Y*: 16.99%
• 5Y*: 9.02%
• 10Y*: 10.35%

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

JDBAX vs. AOBLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JDBAX Janus Henderson Balanced Fund Class A	2.35%	14.78%	20.54%	15.17%	-16.75%	16.99%	14.14%	25.01%	0.39%	18.23%
AOBLX Victory Pioneer Balanced Fund Class A	12.92%	19.59%	9.46%	15.00%	-14.64%	15.10%	13.15%	21.75%	-4.63%	14.99%

Correlation

The correlation between JDBAX and AOBLX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 25, 2005	0.93

The correlation between JDBAX and AOBLX has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

Return for Risk

JDBAX vs. AOBLX — Risk / Return Rank

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

JDBAX

JDBAX Risk / Return Rank: 27
JDBAX Sharpe Ratio Rank: 27
JDBAX Sortino Ratio Rank: 27
JDBAX Omega Ratio Rank: 27
JDBAX Calmar Ratio Rank: 22
JDBAX Martin Ratio Rank: 31

AOBLX

AOBLX Risk / Return Rank: 94
AOBLX Sharpe Ratio Rank: 96
AOBLX Sortino Ratio Rank: 94
AOBLX Omega Ratio Rank: 89
AOBLX Calmar Ratio Rank: 94
AOBLX Martin Ratio Rank: 97

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.

JDBAX vs. AOBLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Balanced Fund Class A (JDBAX) and Victory Pioneer Balanced Fund Class A (AOBLX). 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.

	JDBAX	AOBLX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	3.11	-1.77
Sortino ratio: Return per unit of downside risk	1.92	4.39	-2.47
Omega ratio: Gain probability vs. loss probability	1.24	1.57	-0.33
Calmar ratio: Return relative to maximum drawdown	1.52	4.83	-3.32
Martin ratio: Return relative to average drawdown	6.46	22.31	-15.86

JDBAX vs. AOBLX - Sharpe Ratio Comparison

The current JDBAX Sharpe Ratio is 1.34, which is lower than the AOBLX Sharpe Ratio of 3.11. The chart below compares the historical Sharpe Ratios of JDBAX and AOBLX, 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

JDBAX vs. AOBLX - Drawdown Comparison

The maximum JDBAX drawdown since its inception was -34.14%, smaller than the maximum AOBLX drawdown of -36.70%. Use the drawdown chart below to compare losses from any high point for JDBAX and AOBLX.

Drawdown Indicators

	JDBAX	AOBLX	Difference
Max Drawdown Largest peak-to-trough decline	-34.14%	-36.70%	+2.56%
Max Drawdown (1Y) Largest decline over 1 year	-8.16%	-6.42%	-1.74%
Max Drawdown (3Y) Largest decline over 3 years	-11.96%	-13.52%	+1.56%
Max Drawdown (5Y) Largest decline over 5 years	-21.63%	-20.48%	-1.15%
Max Drawdown (10Y) Largest decline over 10 years	-22.48%	-24.31%	+1.83%
Current Drawdown Current decline from peak	-1.59%	-1.38%	-0.21%
Average Drawdown Average peak-to-trough decline	-5.37%	-3.81%	-1.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.39%	+0.52%

Volatility

JDBAX vs. AOBLX - Volatility Comparison

Janus Henderson Balanced Fund Class A (JDBAX) and Victory Pioneer Balanced Fund Class A (AOBLX) have volatilities of 3.68% and 3.69%, 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.

Volatility by Period

	JDBAX	AOBLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	3.69%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	7.61%	7.85%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	9.27%	9.98%	-0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.44%	11.16%	+0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.30%	11.34%	-0.04%

JDBAX vs. AOBLX - Expense Ratio Comparison

JDBAX has a 0.89% expense ratio, which is lower than AOBLX's 0.93% expense ratio.

Dividends

JDBAX vs. AOBLX - Dividend Comparison

JDBAX's dividend yield for the trailing twelve months is around 8.47%, more than AOBLX's 3.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOBLX Victory Pioneer Balanced Fund Class A	3.20%	3.48%	2.28%	1.52%	2.97%	8.33%	4.31%	5.78%	9.70%	9.22%	2.51%	3.97%
JDBAX Janus Henderson Balanced Fund Class A	8.47%	8.62%	11.67%	2.08%	1.76%	4.34%	2.35%	4.62%	6.84%	5.05%	2.43%	5.68%

Frequently Asked Questions

Can I hold both JDBAX and AOBLX in my portfolio?

JDBAX and AOBLX 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, JDBAX or AOBLX?

AOBLX has higher volatility (3.69%) compared to JDBAX (3.68%). In terms of maximum drawdown, JDBAX dropped -34.14% vs AOBLX's -36.70%.

Which has better risk-adjusted returns?

AOBLX currently has the higher Sharpe Ratio (3.11 vs 1.34), 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.