JDBAX vs. JARTX

Last updated Jun 4, 2026

JDBAX (Janus Henderson Balanced Fund Class A) and JARTX (Janus Henderson Forty Fund) are both mutual funds - JDBAX is a Diversified Portfolio fund managed by Janus Henderson, while JARTX is a Large Cap Growth Equities fund managed by Janus Henderson. Over the past 10 years, JDBAX returned 10.95%/yr vs 16.50%/yr for JARTX. Their correlation of 0.91 suggests significant overlap in exposure. JDBAX charges 0.89%/yr vs 1.20%/yr for JARTX.

Performance

JDBAX vs. JARTX - Performance Comparison

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

Returns By Period

In the year-to-date period, JDBAX achieves a 3.84% return, which is significantly lower than JARTX's 8.23% return. Over the past 10 years, JDBAX has underperformed JARTX with an annualized return of 10.95%, while JARTX has yielded a comparatively higher 16.50% annualized return.

JDBAX

• 1D: 0.00%
• 1M: 3.13%
• YTD: 3.84%
• 6M: 3.83%
• 1Y: 14.97%
• 3Y*: 15.57%
• 5Y*: 8.84%
• 10Y*: 10.95%

JARTX

• 1D: -0.52%
• 1M: 7.14%
• YTD: 8.23%
• 6M: 7.92%
• 1Y: 26.33%
• 3Y*: 22.99%
• 5Y*: 11.28%
• 10Y*: 16.50%

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

JDBAX vs. JARTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JDBAX Janus Henderson Balanced Fund Class A	3.84%	14.78%	20.54%	15.17%	-16.75%	16.99%	14.14%	25.01%	0.39%	18.23%
JARTX Janus Henderson Forty Fund	8.23%	17.88%	27.76%	39.50%	-33.81%	22.30%	38.69%	36.30%	1.10%	29.05%

Correlation

The correlation between JDBAX and JARTX 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	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 26, 2005	0.91

The correlation between JDBAX and JARTX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

Return for Risk

JDBAX vs. JARTX — Risk / Return Rank

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

JDBAX

JDBAX Risk / Return Rank: 35
JDBAX Sharpe Ratio Rank: 37
JDBAX Sortino Ratio Rank: 37
JDBAX Omega Ratio Rank: 37
JDBAX Calmar Ratio Rank: 26
JDBAX Martin Ratio Rank: 37

JARTX

JARTX Risk / Return Rank: 23
JARTX Sharpe Ratio Rank: 30
JARTX Sortino Ratio Rank: 27
JARTX Omega Ratio Rank: 27
JARTX Calmar Ratio Rank: 16
JARTX Martin Ratio Rank: 16

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. JARTX - Risk-Adjusted Trends Comparison

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

	JDBAX	JARTX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.56	+0.21
Sortino ratio: Return per unit of downside risk	2.54	2.14	+0.40
Omega ratio: Gain probability vs. loss probability	1.32	1.27	+0.05
Calmar ratio: Return relative to maximum drawdown	1.89	1.42	+0.47
Martin ratio: Return relative to average drawdown	8.15	4.62	+3.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JDBAX vs. JARTX - Sharpe Ratio Comparison

The current JDBAX Sharpe Ratio is 1.77, which is comparable to the JARTX Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of JDBAX and JARTX, 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

	JDBAX	JARTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	1.56	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.52	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.98	0.77	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.59	+0.08

Drawdowns

JDBAX vs. JARTX - Drawdown Comparison

The maximum JDBAX drawdown since its inception was -34.14%, smaller than the maximum JARTX drawdown of -56.70%. Use the drawdown chart below to compare losses from any high point for JDBAX and JARTX.

Drawdown Indicators

	JDBAX	JARTX	Difference
Max Drawdown Largest peak-to-trough decline	-34.14%	-56.70%	+22.56%
Max Drawdown (1Y) Largest decline over 1 year	-8.16%	-19.19%	+11.03%
Max Drawdown (3Y) Largest decline over 3 years	-11.96%	-22.22%	+10.26%
Max Drawdown (5Y) Largest decline over 5 years	-21.63%	-41.09%	+19.46%
Max Drawdown (10Y) Largest decline over 10 years	-22.48%	-41.09%	+18.61%
Current Drawdown Current decline from peak	0.00%	-0.52%	+0.52%
Average Drawdown Average peak-to-trough decline	-5.38%	-16.84%	+11.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	5.88%	-3.99%

Volatility

JDBAX vs. JARTX - Volatility Comparison

The current volatility for Janus Henderson Balanced Fund Class A (JDBAX) is 2.46%, while Janus Henderson Forty Fund (JARTX) has a volatility of 4.46%. This indicates that JDBAX experiences smaller price fluctuations and is considered to be less risky than JARTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JDBAX	JARTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	4.46%	-2.00%
Volatility (6M) Calculated over the trailing 6-month period	6.94%	13.43%	-6.49%
Volatility (1Y) Calculated over the trailing 1-year period	8.71%	17.41%	-8.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.34%	21.99%	-10.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.27%	21.45%	-10.18%

JDBAX vs. JARTX - Expense Ratio Comparison

JDBAX has a 0.89% expense ratio, which is lower than JARTX's 1.20% expense ratio.

Dividends

JDBAX vs. JARTX - Dividend Comparison

JDBAX's dividend yield for the trailing twelve months is around 8.34%, less than JARTX's 12.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JARTX Janus Henderson Forty Fund	12.61%	13.65%	11.51%	9.10%	0.06%	10.26%	8.38%	7.05%	8.95%	14.50%	6.57%	15.93%
JDBAX Janus Henderson Balanced Fund Class A	8.34%	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 JARTX in my portfolio?

JDBAX and JARTX 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 JARTX?

JARTX has higher volatility (4.46%) compared to JDBAX (2.46%). In terms of maximum drawdown, JDBAX dropped -34.14% vs JARTX's -56.70%.

Which has better risk-adjusted returns?

JDBAX currently has the higher Sharpe Ratio (1.77 vs 1.56), 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.