JELM vs. JSML
JELM (Janus Henderson Equity Linked Moderate Income ETF) and JSML (Janus Henderson Small Cap Growth Alpha ETF) are both exchange-traded funds - JELM is a Derivative Income fund actively managed by Janus Henderson, while JSML is a Small Cap Growth Equities fund tracking the Janus Small Cap Growth Alpha Index. JELM is actively managed, while JSML is passively managed. Their -0.09 correlation means they have often moved in opposite directions in the past. JELM charges 0.59%/yr vs 0.30%/yr for JSML.
Performance
JELM vs. JSML - Performance Comparison
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Returns By Period
JELM
- 1D
- 0.20%
- 1M
- 1.29%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
JSML
- 1D
- 2.58%
- 1M
- 0.38%
- 6M
- 19.75%
- YTD
- 24.64%
- 1Y
- 33.71%
- 3Y*
- 18.08%
- 5Y*
- 6.67%
- 10Y*
- 12.75%
- ALL TIME*
- 13.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $199.95K | $786.17K | $963.17K | |
| $2.11M | $2.75M | $2.20M |
JELM vs. JSML - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
JELM Janus Henderson Equity Linked Moderate Income ETF | 2.35% |
JSML Janus Henderson Small Cap Growth Alpha ETF | 14.11% |
Correlation
The correlation between JELM and JSML 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
JELM vs. JSML — Risk / Return Rank
JELM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
JSML
JELM vs. JSML - 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 Small Cap Growth Alpha ETF (JSML). 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.
| JELM | JSML | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.26 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.28 | — |
| Martin ratioReturn relative to average drawdown | — | 7.72 | — |
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Drawdowns
JELM vs. JSML - Drawdown Comparison
The maximum JELM drawdown since its inception was -0.69%, smaller than the maximum JSML drawdown of -39.65%. Use the drawdown chart below to compare losses from any high point for JELM and JSML.
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Drawdown Indicators
| JELM | JSML | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.69% | -39.65% | +38.96% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.84% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.60% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.91% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.65% | — |
Current DrawdownCurrent decline from peak | -0.25% | -2.00% | +1.75% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -10.73% | +10.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.38% | — |
Volatility
JELM vs. JSML - Volatility Comparison
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Volatility by Period
| JELM | JSML | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.72% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 17.78% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.69% | 22.82% | -19.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.69% | 24.56% | -20.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.69% | 24.31% | -20.62% |
JELM vs. JSML - Expense Ratio Comparison
JELM has a 0.59% expense ratio, which is higher than JSML's 0.30% expense ratio.
Dividends
JELM vs. JSML - Dividend Comparison
JELM's dividend yield for the trailing twelve months is around 1.21%, more than JSML's 0.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
JELM Janus Henderson Equity Linked Moderate Income ETF | 1.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JSML Janus Henderson Small Cap Growth Alpha ETF | 0.59% | 0.94% | 1.19% | 0.49% | 0.67% | 0.46% | 0.30% | 0.27% | 0.76% | 0.42% | 0.52% |
Frequently Asked Questions
JELM and JSML 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, JSML is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JSML is cheaper with a 0.30% expense ratio, compared with 0.59% for JELM.
JELM has the higher dividend yield at 1.21%, compared with 0.59% for JSML.
JELM is categorized as Derivative Income, while JSML is Small Cap Growth Equities. Their fees differ too: 0.59% for JELM and 0.30% for JSML.
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