JFNAX vs. CQQQ

Last updated Jun 5, 2026

JFNAX (Janus Henderson Global Life Sciences Fund Class A) and CQQQ (Invesco China Technology ETF) are both funds - JFNAX is a Health & Biotech Equities fund managed by Janus Henderson, while CQQQ is a China Equities fund tracking the AlphaShares China Technology Index. Over the past 10 years, JFNAX returned 10.35%/yr vs 5.38%/yr for CQQQ. At a 0.45 correlation, their price movements are largely independent. JFNAX charges 0.98%/yr vs 0.70%/yr for CQQQ.

Performance

JFNAX vs. CQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Global Life Sciences Fund Class A (JFNAX) and Invesco China Technology ETF (CQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JFNAX achieves a -2.59% return, which is significantly lower than CQQQ's 3.52% return. Over the past 10 years, JFNAX has outperformed CQQQ with an annualized return of 10.35%, while CQQQ has yielded a comparatively lower 5.38% annualized return.

JFNAX

• 1D: 1.13%
• 1M: -0.31%
• YTD: -2.59%
• 6M: -0.83%
• 1Y: 25.93%
• 3Y*: 9.53%
• 5Y*: 6.96%
• 10Y*: 10.35%

CQQQ

• 1D: 1.03%
• 1M: 5.51%
• YTD: 3.52%
• 6M: 5.44%
• 1Y: 31.50%
• 3Y*: 11.27%
• 5Y*: -7.31%
• 10Y*: 5.38%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JFNAX vs. CQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JFNAX Janus Henderson Global Life Sciences Fund Class A	-2.59%	24.61%	3.41%	7.35%	-2.86%	6.59%	25.42%	28.98%	4.00%	22.35%
CQQQ Invesco China Technology ETF	3.52%	34.96%	9.84%	-16.71%	-30.09%	-24.54%	57.33%	33.57%	-34.77%	74.31%

Correlation

The correlation between JFNAX and CQQQ is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Dec 9, 2009	0.45

Over the past year, the correlation between JFNAX and CQQQ has dropped to 0.23 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.

Return for Risk

JFNAX vs. CQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JFNAX

JFNAX Risk / Return Rank: 41
JFNAX Sharpe Ratio Rank: 38
JFNAX Sortino Ratio Rank: 39
JFNAX Omega Ratio Rank: 35
JFNAX Calmar Ratio Rank: 51
JFNAX Martin Ratio Rank: 41

CQQQ

CQQQ Risk / Return Rank: 29
CQQQ Sharpe Ratio Rank: 30
CQQQ Sortino Ratio Rank: 31
CQQQ Omega Ratio Rank: 30
CQQQ Calmar Ratio Rank: 27
CQQQ Martin Ratio Rank: 24

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JFNAX vs. CQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Global Life Sciences Fund Class A (JFNAX) and Invesco China Technology ETF (CQQQ). 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.

	JFNAX	CQQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.06	+0.71
Sortino ratio: Return per unit of downside risk	2.59	1.63	+0.95
Omega ratio: Gain probability vs. loss probability	1.31	1.20	+0.11
Calmar ratio: Return relative to maximum drawdown	2.72	1.30	+1.42
Martin ratio: Return relative to average drawdown	8.60	3.04	+5.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JFNAX vs. CQQQ - Sharpe Ratio Comparison

The current JFNAX Sharpe Ratio is 1.77, which is higher than the CQQQ Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of JFNAX and CQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JFNAX	CQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	1.06	+0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	-0.19	+0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.16	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.19	+0.64

Drawdowns

JFNAX vs. CQQQ - Drawdown Comparison

The maximum JFNAX drawdown since its inception was -31.07%, smaller than the maximum CQQQ drawdown of -73.99%. Use the drawdown chart below to compare losses from any high point for JFNAX and CQQQ.

Drawdown Indicators

	JFNAX	CQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-31.07%	-73.99%	+42.92%
Max Drawdown (1Y) Largest decline over 1 year	-9.71%	-24.41%	+14.70%
Max Drawdown (3Y) Largest decline over 3 years	-21.28%	-35.93%	+14.65%
Max Drawdown (5Y) Largest decline over 5 years	-22.29%	-66.96%	+44.67%
Max Drawdown (10Y) Largest decline over 10 years	-27.39%	-73.99%	+46.60%
Current Drawdown Current decline from peak	-5.51%	-48.65%	+43.14%
Average Drawdown Average peak-to-trough decline	-6.29%	-28.30%	+22.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	10.40%	-7.34%

Volatility

JFNAX vs. CQQQ - Volatility Comparison

The current volatility for Janus Henderson Global Life Sciences Fund Class A (JFNAX) is 4.81%, while Invesco China Technology ETF (CQQQ) has a volatility of 11.62%. This indicates that JFNAX experiences smaller price fluctuations and is considered to be less risky than CQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JFNAX	CQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.81%	11.62%	-6.81%
Volatility (6M) Calculated over the trailing 6-month period	10.90%	21.86%	-10.96%
Volatility (1Y) Calculated over the trailing 1-year period	14.87%	29.79%	-14.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.86%	38.02%	-22.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.38%	33.29%	-15.91%

JFNAX vs. CQQQ - Expense Ratio Comparison

JFNAX has a 0.98% expense ratio, which is higher than CQQQ's 0.70% expense ratio.

Dividends

JFNAX vs. CQQQ - Dividend Comparison

JFNAX's dividend yield for the trailing twelve months is around 4.68%, more than CQQQ's 2.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CQQQ Invesco China Technology ETF	2.09%	2.17%	0.28%	0.55%	0.08%	0.00%	0.47%	0.01%	0.43%	1.41%	1.69%	1.77%
JFNAX Janus Henderson Global Life Sciences Fund Class A	4.68%	4.56%	5.74%	4.28%	0.08%	9.90%	7.82%	6.18%	13.55%	1.03%	0.97%	8.93%

Frequently Asked Questions

Can I hold both JFNAX and CQQQ in my portfolio?

JFNAX and CQQQ have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JFNAX or CQQQ?

CQQQ has higher volatility (11.62%) compared to JFNAX (4.81%). In terms of maximum drawdown, JFNAX dropped -31.07% vs CQQQ's -73.99%.

Which has better risk-adjusted returns?

JFNAX currently has the higher Sharpe Ratio (1.77 vs 1.06), 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.