JELM vs. JELH

Last updated Aug 5, 2026

JELM (Janus Henderson Equity Linked Moderate Income ETF) and JELH (Janus Henderson Equity Linked High 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

JELM vs. JELH - Performance Comparison

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

Returns By Period

JELM

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

JELH

• 1D: 0.04%
• 1M: 1.91%
• 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

JELM vs. JELH - Yearly Performance Comparison

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

Correlation

The correlation between JELM and JELH 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

JELM vs. JELH - Risk-Adjusted Trends Comparison

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

JELM vs. JELH - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

Volatility by Period

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

JELM vs. JELH - Expense Ratio Comparison

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

Dividends

JELM vs. JELH - Dividend Comparison

JELM's dividend yield for the trailing twelve months is around 1.21%, less than JELH's 2.07% 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 JELM and JELH in my portfolio?

JELM and JELH 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, JELM or JELH?

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, JELM or JELH?

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

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

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