JELH vs. JELM

Last updated Aug 5, 2026

JELH (Janus Henderson Equity Linked High Income ETF) and JELM (Janus Henderson Equity Linked Moderate Income ETF) are both Derivative Income funds from Janus Henderson. Both are actively managed. Their 0.60 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.59% expense ratio.

Performance

JELH vs. JELM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Equity Linked High Income ETF (JELH) and Janus Henderson Equity Linked Moderate Income ETF (JELM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

JELH

• 1D: 0.04%
• 1M: 1.91%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

JELM

• 1D: 0.20%
• 1M: 1.29%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JELH Janus Henderson Equity Linked High Income ETF	$203.20K	$172.33K	$184.25K
JELM Janus Henderson Equity Linked Moderate Income ETF	$199.95K	$786.17K	$963.17K

JELH vs. JELM - Yearly Performance Comparison

	2026 (YTD)
JELH Janus Henderson Equity Linked High Income ETF	3.20%
JELM Janus Henderson Equity Linked Moderate Income ETF	2.35%

Correlation

The correlation between JELH and JELM is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 22, 2026	0.60

Return for Risk

JELH vs. JELM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Equity Linked High Income ETF (JELH) and Janus Henderson Equity Linked Moderate Income ETF (JELM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

JELH vs. JELM - Drawdown Comparison

The maximum JELH drawdown since its inception was -1.13%, which is greater than JELM's maximum drawdown of -0.69%. Use the drawdown chart below to compare losses from any high point for JELH and JELM.

Drawdown Indicators

	JELH	JELM	Difference
Max Drawdown Largest peak-to-trough decline	-1.13%	-0.69%	-0.44%
Current Drawdown Current decline from peak	-0.33%	-0.25%	-0.08%
Average Drawdown Average peak-to-trough decline	-0.31%	-0.21%	-0.10%

Volatility

Volatility by Period

	JELH	JELM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.77%	3.69%	+1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.77%	3.69%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.77%	3.69%	+1.08%

JELH vs. JELM - Expense Ratio Comparison

Both JELH and JELM have an expense ratio of 0.59%.

Dividends

JELH vs. JELM - Dividend Comparison

JELH's dividend yield for the trailing twelve months is around 2.07%, more than JELM's 1.21% yield.

Position	TTM
JELH Janus Henderson Equity Linked High Income ETF	2.07%
JELM Janus Henderson Equity Linked Moderate Income ETF	1.21%

Frequently Asked Questions

Can I hold both JELH and JELM in my portfolio?

JELH and JELM have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JELH or JELM?

Both ETFs have the same 0.59% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JELH or JELM?

JELH and JELM have the same expense ratio: 0.59% per year.

Which ETF pays a higher dividend yield, JELH or JELM?

JELH has the higher dividend yield at 2.07%, compared with 1.21% for JELM.