JELH vs. JSMD
JELH (Janus Henderson Equity Linked High Income ETF) and JSMD (Janus Henderson Small/Mid Cap Growth Alpha ETF) are both exchange-traded funds - JELH is a Derivative Income fund actively managed by Janus Henderson, while JSMD is a Mid Cap Growth Equities fund tracking the Janus Small Mid Cap Growth Alpha Index. JELH is actively managed, while JSMD is passively managed. Their -0.09 correlation means they have often moved in opposite directions in the past. JELH charges 0.59%/yr vs 0.30%/yr for JSMD.
Performance
JELH vs. JSMD - Performance Comparison
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Returns By Period
JELH
- 1D
- 0.04%
- 1M
- 1.91%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
JSMD
- 1D
- 2.22%
- 1M
- -0.94%
- 6M
- 13.70%
- YTD
- 18.96%
- 1Y
- 22.42%
- 3Y*
- 15.99%
- 5Y*
- 7.86%
- 10Y*
- 13.04%
- ALL TIME*
- 14.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $203.20K | $172.33K | $184.25K | |
| $5.38M | $7.01M | $7.81M |
JELH vs. JSMD - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
JELH Janus Henderson Equity Linked High Income ETF | 3.20% |
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF | 8.77% |
Correlation
The correlation between JELH and JSMD is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 22, 2026 | -0.09 |
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Return for Risk
JELH vs. JSMD — Risk / Return Rank
JELH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
JSMD
JELH vs. JSMD - 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 Small/Mid Cap Growth Alpha ETF (JSMD). 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.
| JELH | JSMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.18 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.52 | — |
| Martin ratioReturn relative to average drawdown | — | 4.79 | — |
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Drawdowns
JELH vs. JSMD - Drawdown Comparison
The maximum JELH drawdown since its inception was -1.13%, smaller than the maximum JSMD drawdown of -38.98%. Use the drawdown chart below to compare losses from any high point for JELH and JSMD.
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Drawdown Indicators
| JELH | JSMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.13% | -38.98% | +37.85% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.86% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.01% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.18% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.98% | — |
Current DrawdownCurrent decline from peak | -0.33% | -4.34% | +4.01% |
Average DrawdownAverage peak-to-trough decline | -0.31% | -7.42% | +7.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.70% | — |
Volatility
JELH vs. JSMD - Volatility Comparison
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Volatility by Period
| JELH | JSMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.88% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 17.96% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.77% | 22.65% | -17.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.77% | 23.17% | -18.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.77% | 22.87% | -18.10% |
JELH vs. JSMD - Expense Ratio Comparison
JELH has a 0.59% expense ratio, which is higher than JSMD's 0.30% expense ratio.
Dividends
JELH vs. JSMD - Dividend Comparison
JELH's dividend yield for the trailing twelve months is around 2.07%, more than JSMD's 0.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
JELH Janus Henderson Equity Linked High Income ETF | 2.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF | 0.42% | 0.54% | 0.76% | 0.44% | 0.40% | 0.28% | 0.24% | 0.32% | 0.53% | 0.30% | 0.36% |
Frequently Asked Questions
JELH and JSMD have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JSMD is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JSMD is cheaper with a 0.30% expense ratio, compared with 0.59% for JELH.
JELH has the higher dividend yield at 2.07%, compared with 0.42% for JSMD.
JELH is categorized as Derivative Income, while JSMD is Mid Cap Growth Equities. Their fees differ too: 0.59% for JELH and 0.30% for JSMD.
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