JDBAX vs. SPY
Compare and contrast key facts about Janus Henderson Balanced Fund Class A (JDBAX) and State Street SPDR S&P 500 ETF (SPY).
JDBAX is managed by Janus Henderson. It was launched on Sep 1, 1992. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
JDBAX vs. SPY - Performance Comparison
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JDBAX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JDBAX Janus Henderson Balanced Fund Class A | -6.88% | 14.78% | 20.54% | 15.17% | -16.75% | 16.99% | 14.14% | 25.01% | 0.39% | 18.23% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, JDBAX achieves a -6.88% return, which is significantly lower than SPY's -4.37% return. Over the past 10 years, JDBAX has underperformed SPY with an annualized return of 9.79%, while SPY has yielded a comparatively higher 13.98% annualized return.
JDBAX
- 1D
- -0.07%
- 1M
- -6.61%
- YTD
- -6.88%
- 6M
- -5.38%
- 1Y
- 9.16%
- 3Y*
- 12.15%
- 5Y*
- 7.30%
- 10Y*
- 9.79%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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JDBAX vs. SPY - Expense Ratio Comparison
JDBAX has a 0.89% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
JDBAX vs. SPY — Risk / Return Rank
JDBAX
SPY
JDBAX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Balanced Fund Class A (JDBAX) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.93 | -0.14 |
Sortino ratioReturn per unit of downside risk | 1.22 | 1.45 | -0.24 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.22 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.01 | 1.53 | -0.52 |
Martin ratioReturn relative to average drawdown | 4.09 | 7.30 | -3.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JDBAX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.93 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.69 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.78 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.56 | +0.07 |
Correlation
The correlation between JDBAX and SPY is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
JDBAX vs. SPY - Dividend Comparison
JDBAX's dividend yield for the trailing twelve months is around 8.81%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JDBAX Janus Henderson Balanced Fund Class A | 8.81% | 8.62% | 11.67% | 2.08% | 1.76% | 4.34% | 2.35% | 4.62% | 6.84% | 5.05% | 2.43% | 5.68% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
JDBAX vs. SPY - Drawdown Comparison
The maximum JDBAX drawdown since its inception was -34.14%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for JDBAX and SPY.
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Drawdown Indicators
| JDBAX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.14% | -55.19% | +21.05% |
Max Drawdown (1Y)Largest decline over 1 year | -8.16% | -12.05% | +3.89% |
Max Drawdown (5Y)Largest decline over 5 years | -21.63% | -24.50% | +2.87% |
Max Drawdown (10Y)Largest decline over 10 years | -22.48% | -33.72% | +11.24% |
Current DrawdownCurrent decline from peak | -8.16% | -6.24% | -1.92% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -9.09% | +3.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 2.52% | -0.51% |
Volatility
JDBAX vs. SPY - Volatility Comparison
The current volatility for Janus Henderson Balanced Fund Class A (JDBAX) is 3.31%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that JDBAX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JDBAX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.31% | 5.31% | -2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.47% | 9.47% | -3.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.02% | 19.05% | -7.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.29% | 17.06% | -5.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.21% | 17.92% | -6.71% |