JEMB vs. JIII

Last updated Aug 2, 2026

JEMB (Janus Henderson Emerging Markets Debt Hard Currency ETF) and JIII (Janus Henderson Income ETF) are both exchange-traded funds - JEMB is a Emerging Markets Bonds fund actively managed by Janus Henderson, while JIII is a Multisector Bonds fund actively managed by Janus Henderson. Both are actively managed. Over the past year, JEMB returned 8.29% vs 4.50% for JIII. Their 0.49 correlation means their historical movements had little consistent relationship. JEMB charges 0.52%/yr vs 0.54%/yr for JIII.

Performance

JEMB vs. JIII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Emerging Markets Debt Hard Currency ETF (JEMB) and Janus Henderson Income ETF (JIII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEMB achieves a 1.87% return, which is significantly higher than JIII's 1.19% return.

JEMB

• 1D: -0.62%
• 1M: -1.41%
• 6M: 1.41%
• YTD: 1.87%
• 1Y: 8.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.78%

JIII

• 1D: -0.24%
• 1M: -0.68%
• 6M: 0.79%
• YTD: 1.19%
• 1Y: 4.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.82%

*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)
JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF	$131.88K	$404.80K	$2.67M
JIII Janus Henderson Income ETF	$478.34K	$580.04K	$761.47K

JEMB vs. JIII - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF	1.87%	14.63%	-1.22%
JIII Janus Henderson Income ETF	1.19%	8.28%	0.54%

Correlation

The correlation between JEMB and JIII is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (All Time) Calculated using the full available price history since Nov 13, 2024	0.49

The correlation between JEMB and JIII has been stable across timeframes, ranging from 0.49 to 0.57 - a consistent structural relationship.

Return for Risk

JEMB vs. JIII — Risk / Return Rank

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

JEMB

JEMB Risk / Return Rank: 49
JEMB Sharpe Ratio Rank: 44
JEMB Sortino Ratio Rank: 43
JEMB Omega Ratio Rank: 45
JEMB Calmar Ratio Rank: 52
JEMB Martin Ratio Rank: 60

JIII

JIII Risk / Return Rank: 61
JIII Sharpe Ratio Rank: 57
JIII Sortino Ratio Rank: 58
JIII Omega Ratio Rank: 61
JIII Calmar Ratio Rank: 62
JIII Martin Ratio Rank: 66

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.

JEMB vs. JIII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Emerging Markets Debt Hard Currency ETF (JEMB) and Janus Henderson Income ETF (JIII). 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.

	JEMB	JIII	Difference
Sharpe ratio: Return per unit of total volatility	1.10	1.36	-0.26
Sortino ratio: Return per unit of downside risk	1.60	1.99	-0.40
Omega ratio: Gain probability vs. loss probability	1.21	1.27	-0.06
Calmar ratio: Return relative to maximum drawdown	1.90	2.20	-0.30
Martin ratio: Return relative to average drawdown	7.34	7.99	-0.65

JEMB vs. JIII - Sharpe Ratio Comparison

The current JEMB Sharpe Ratio is 1.10, which is comparable to the JIII Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of JEMB and JIII, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JEMB vs. JIII - Drawdown Comparison

The maximum JEMB drawdown since its inception was -5.37%, which is greater than JIII's maximum drawdown of -3.55%. Use the drawdown chart below to compare losses from any high point for JEMB and JIII.

Drawdown Indicators

	JEMB	JIII	Difference
Max Drawdown Largest peak-to-trough decline	-5.37%	-3.55%	-1.82%
Max Drawdown (1Y) Largest decline over 1 year	-4.67%	-2.27%	-2.40%
Current Drawdown Current decline from peak	-1.89%	-0.85%	-1.04%
Average Drawdown Average peak-to-trough decline	-1.00%	-0.49%	-0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.20%	0.62%	+0.58%

Volatility

JEMB vs. JIII - Volatility Comparison

Janus Henderson Emerging Markets Debt Hard Currency ETF (JEMB) has a higher volatility of 2.07% compared to Janus Henderson Income ETF (JIII) at 0.83%. This indicates that JEMB's price experiences larger fluctuations and is considered to be riskier than JIII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEMB	JIII	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.07%	0.83%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	6.71%	2.96%	+3.75%
Volatility (1Y) Calculated over the trailing 1-year period	8.04%	3.66%	+4.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.43%	3.93%	+4.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.43%	3.93%	+4.50%

JEMB vs. JIII - Expense Ratio Comparison

JEMB has a 0.52% expense ratio, which is lower than JIII's 0.54% expense ratio.

Dividends

JEMB vs. JIII - Dividend Comparison

JEMB's dividend yield for the trailing twelve months is around 6.94%, less than JIII's 7.92% yield.

Position	TTM	2025	2024
JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF	6.38%	6.19%	2.53%
JIII Janus Henderson Income ETF	7.35%	7.33%	0.44%

Frequently Asked Questions

Can I hold both JEMB and JIII in my portfolio?

JEMB and JIII have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JEMB or JIII?

JEMB has higher volatility (2.07%) compared to JIII (0.83%). In terms of maximum drawdown, JEMB dropped -5.37% vs JIII's -3.55%.

Which ETF is better, JEMB or JIII?

On 1-year performance, JEMB leads with 8.29% vs 4.50% for JIII. On fees, JEMB is cheaper at 0.52% per year. On volatility, JIII has been the lower-risk option at 0.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEMB or JIII?

Over the 1-year period, JEMB has performed better with a 8.29% return vs 4.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEMB or JIII?

JEMB is cheaper with a 0.52% expense ratio, compared with 0.54% for JIII.

Which ETF pays a higher dividend yield, JEMB or JIII?

JIII has the higher dividend yield at 7.35%, compared with 6.38% for JEMB.

What is the main difference between JEMB and JIII?

JEMB is categorized as Emerging Markets Bonds, while JIII is Multisector Bonds. Their fees differ too: 0.52% for JEMB and 0.54% for JIII.

Which has better risk-adjusted returns?

JIII currently has the higher Sharpe Ratio (1.36 vs 1.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.