JELM vs. SOXY

Last updated Aug 5, 2026

JELM (Janus Henderson Equity Linked Moderate Income ETF) and SOXY (YieldMax Target 12™ Semiconductor Option Income ETF) are both Derivative Income funds. Both are actively managed. Their -0.08 correlation means they have often moved in opposite directions in the past. JELM charges 0.59%/yr vs 1.06%/yr for SOXY.

Performance

JELM vs. SOXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Equity Linked Moderate Income ETF (JELM) and YieldMax Target 12™ Semiconductor Option Income ETF (SOXY). 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*: —

SOXY

• 1D: 6.56%
• 1M: -5.46%
• 6M: 53.12%
• YTD: 70.13%
• 1Y: 104.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 65.13%

*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)
JELM Janus Henderson Equity Linked Moderate Income ETF	$199.95K	$786.17K	$963.17K
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	$1.66M	$2.38M	$2.08M

JELM vs. SOXY - Yearly Performance Comparison

	2026 (YTD)
JELM Janus Henderson Equity Linked Moderate Income ETF	2.35%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	29.90%

Correlation

The correlation between JELM and SOXY is -0.08, 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	-0.08

Return for Risk

JELM vs. SOXY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JELM

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

SOXY

SOXY Risk / Return Rank: 88
SOXY Sharpe Ratio Rank: 93
SOXY Sortino Ratio Rank: 83
SOXY Omega Ratio Rank: 85
SOXY Calmar Ratio Rank: 86
SOXY Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JELM vs. SOXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Equity Linked Moderate Income ETF (JELM) and YieldMax Target 12™ Semiconductor Option Income ETF (SOXY). 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	SOXY	Difference
Sharpe ratio: Return per unit of total volatility	—	2.62	—
Sortino ratio: Return per unit of downside risk	—	3.00	—
Omega ratio: Gain probability vs. loss probability	—	1.40	—
Calmar ratio: Return relative to maximum drawdown	—	3.69	—
Martin ratio: Return relative to average drawdown	—	16.12	—

Drawdowns

JELM vs. SOXY - Drawdown Comparison

The maximum JELM drawdown since its inception was -0.69%, smaller than the maximum SOXY drawdown of -30.22%. Use the drawdown chart below to compare losses from any high point for JELM and SOXY.

Drawdown Indicators

	JELM	SOXY	Difference
Max Drawdown Largest peak-to-trough decline	-0.69%	-30.22%	+29.53%
Max Drawdown (1Y) Largest decline over 1 year	—	-28.56%	—
Current Drawdown Current decline from peak	-0.25%	-15.88%	+15.63%
Average Drawdown Average peak-to-trough decline	-0.21%	-5.55%	+5.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.52%	—

Volatility

Volatility by Period

	JELM	SOXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	36.04%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	40.29%	-36.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.69%	39.52%	-35.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.69%	39.52%	-35.83%

JELM vs. SOXY - Expense Ratio Comparison

JELM has a 0.59% expense ratio, which is lower than SOXY's 1.06% expense ratio.

Dividends

JELM vs. SOXY - Dividend Comparison

JELM's dividend yield for the trailing twelve months is around 1.21%, less than SOXY's 8.76% yield.

Position	TTM	2025
JELM Janus Henderson Equity Linked Moderate Income ETF	1.21%	0.00%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	8.76%	11.47%

Frequently Asked Questions

Can I hold both JELM and SOXY in my portfolio?

JELM and SOXY have a correlation of -0.08, 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 SOXY?

On fees, JELM is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JELM or SOXY?

JELM is cheaper with a 0.59% expense ratio, compared with 1.06% for SOXY.

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

SOXY has the higher dividend yield at 8.76%, compared with 1.21% for JELM.

What is the main difference between JELM and SOXY?

They also come from different issuers: Janus Henderson and YieldMax. Their fees differ too: 0.59% for JELM and 1.06% for SOXY.