JERIX vs. JNRFX

Last updated Aug 1, 2026

JERIX (Janus Henderson Global Real Estate Fund) and JNRFX (Janus Henderson Research Fund Class D) are both mutual funds - JERIX is a REIT fund managed by Janus Henderson, while JNRFX is a Large Cap Growth Equities fund actively managed by Janus Henderson. Over the past 10 years, JERIX returned 5.80%/yr vs 15.41%/yr for JNRFX. Their 0.66 correlation means they have sometimes moved together and sometimes differently. JERIX charges 1.03%/yr vs 0.83%/yr for JNRFX.

Performance

JERIX vs. JNRFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Global Real Estate Fund (JERIX) and Janus Henderson Research Fund Class D (JNRFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JERIX achieves a 14.29% return, which is significantly higher than JNRFX's 1.17% return. Over the past 10 years, JERIX has underperformed JNRFX with an annualized return of 5.80%, while JNRFX has yielded a comparatively higher 15.41% annualized return.

JERIX

• 1D: 0.00%
• 1M: 2.39%
• 6M: 9.76%
• YTD: 14.29%
• 1Y: 18.97%
• 3Y*: 8.88%
• 5Y*: 0.79%
• 10Y*: 5.80%
• ALL TIME*: 5.32%

JNRFX

• 1D: 3.40%
• 1M: -3.24%
• 6M: 2.53%
• YTD: 1.17%
• 1Y: 8.03%
• 3Y*: 20.23%
• 5Y*: 11.31%
• 10Y*: 15.41%
• ALL TIME*: 9.90%

*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)
JERIX Janus Henderson Global Real Estate Fund	$0.00	$0.00	$0.00
JNRFX Janus Henderson Research Fund Class D	$0.00	$0.00	$0.00

JERIX vs. JNRFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JERIX Janus Henderson Global Real Estate Fund	14.29%	9.45%	0.11%	7.60%	-25.23%	22.43%	1.38%	30.91%	-3.15%	17.72%
JNRFX Janus Henderson Research Fund Class D	1.17%	18.45%	35.13%	43.14%	-29.96%	20.19%	32.82%	35.40%	-2.73%	25.90%

Correlation

The correlation between JERIX and JNRFX is 0.17, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.17
Correlation (3Y) Balances recent behavior with more history.	0.32
Correlation (5Y) Shows whether the relationship held over a longer period.	0.48
Correlation (10Y) Provides a long-term view across more market conditions.	0.52
Correlation (All Time) Calculated using the full available price history since Nov 29, 2007	0.66

Over the past year, the correlation between JERIX and JNRFX has dropped to 0.17 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

Return for Risk

JERIX vs. JNRFX — Risk / Return Rank

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

JERIX

JERIX Risk / Return Rank: 55
JERIX Sharpe Ratio Rank: 62
JERIX Sortino Ratio Rank: 61
JERIX Omega Ratio Rank: 62
JERIX Calmar Ratio Rank: 46
JERIX Martin Ratio Rank: 45

JNRFX

JNRFX Risk / Return Rank: 10
JNRFX Sharpe Ratio Rank: 10
JNRFX Sortino Ratio Rank: 10
JNRFX Omega Ratio Rank: 10
JNRFX Calmar Ratio Rank: 9
JNRFX Martin Ratio Rank: 10

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.

JERIX vs. JNRFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Global Real Estate Fund (JERIX) and Janus Henderson Research Fund Class D (JNRFX). 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.

	JERIX	JNRFX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	0.33	+1.18
Sortino ratio: Return per unit of downside risk	2.14	0.59	+1.55
Omega ratio: Gain probability vs. loss probability	1.28	1.07	+0.21
Calmar ratio: Return relative to maximum drawdown	1.78	0.35	+1.43
Martin ratio: Return relative to average drawdown	6.43	1.13	+5.30

JERIX vs. JNRFX - Sharpe Ratio Comparison

The current JERIX Sharpe Ratio is 1.50, which is higher than the JNRFX Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of JERIX and JNRFX, 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

JERIX vs. JNRFX - Drawdown Comparison

The maximum JERIX drawdown since its inception was -65.94%, smaller than the maximum JNRFX drawdown of -74.74%. Use the drawdown chart below to compare losses from any high point for JERIX and JNRFX.

Drawdown Indicators

	JERIX	JNRFX	Difference
Max Drawdown Largest peak-to-trough decline	-65.94%	-74.74%	+8.80%
Max Drawdown (1Y) Largest decline over 1 year	-9.97%	-17.05%	+7.08%
Max Drawdown (3Y) Largest decline over 3 years	-19.16%	-22.66%	+3.50%
Max Drawdown (5Y) Largest decline over 5 years	-34.01%	-36.48%	+2.47%
Max Drawdown (10Y) Largest decline over 10 years	-39.36%	-36.48%	-2.88%
Current Drawdown Current decline from peak	-0.58%	-7.61%	+7.03%
Average Drawdown Average peak-to-trough decline	-10.97%	-24.86%	+13.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	5.33%	-2.57%

Volatility

JERIX vs. JNRFX - Volatility Comparison

The current volatility for Janus Henderson Global Real Estate Fund (JERIX) is 3.35%, while Janus Henderson Research Fund Class D (JNRFX) has a volatility of 6.93%. This indicates that JERIX experiences smaller price fluctuations and is considered to be less risky than JNRFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JERIX	JNRFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.35%	6.93%	-3.58%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	15.29%	-5.74%
Volatility (1Y) Calculated over the trailing 1-year period	11.87%	18.48%	-6.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.96%	22.44%	-6.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.89%	21.49%	-4.60%

JERIX vs. JNRFX - Expense Ratio Comparison

JERIX has a 1.03% expense ratio, which is higher than JNRFX's 0.83% expense ratio.

Dividends

JERIX vs. JNRFX - Dividend Comparison

JERIX's dividend yield for the trailing twelve months is around 3.01%, less than JNRFX's 11.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JERIX Janus Henderson Global Real Estate Fund	3.01%	3.25%	2.78%	2.70%	1.54%	5.83%	1.55%	4.59%	5.20%	4.44%	4.51%	4.66%
JNRFX Janus Henderson Research Fund Class D	11.80%	11.94%	5.11%	2.93%	0.43%	13.01%	2.98%	10.37%	11.06%	8.22%	5.41%	9.21%

Frequently Asked Questions

Can I hold both JERIX and JNRFX in my portfolio?

JERIX and JNRFX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JERIX or JNRFX?

JNRFX has higher volatility (6.93%) compared to JERIX (3.35%). In terms of maximum drawdown, JERIX dropped -65.94% vs JNRFX's -74.74%.

Which has better risk-adjusted returns?

JERIX currently has the higher Sharpe Ratio (1.50 vs 0.33), 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.