JFRDX vs. JNSTX

Last updated Aug 1, 2026

JFRDX (Janus Henderson Forty Fund Class D) and JNSTX (Janus Henderson Short Duration Flexible Bond Fund) are both mutual funds - JFRDX is a Large Cap Growth Equities fund actively managed by Janus Henderson, while JNSTX is a Short-Term Bond fund managed by Janus Henderson. Over the past 5 years, JFRDX returned 7.66%/yr vs 2.06%/yr for JNSTX. Their 0.07 correlation means their historical movements had little consistent relationship. JFRDX charges 0.63%/yr vs 0.53%/yr for JNSTX.

Performance

JFRDX vs. JNSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Forty Fund Class D (JFRDX) and Janus Henderson Short Duration Flexible Bond Fund (JNSTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JFRDX achieves a 0.04% return, which is significantly lower than JNSTX's 1.14% return.

JFRDX

• 1D: 3.28%
• 1M: -2.85%
• 6M: 2.86%
• YTD: 0.04%
• 1Y: 6.63%
• 3Y*: 17.21%
• 5Y*: 7.66%
• 10Y*: —
• ALL TIME*: 15.45%

JNSTX

• 1D: 0.00%
• 1M: -0.35%
• 6M: 0.77%
• YTD: 1.14%
• 1Y: 3.47%
• 3Y*: 5.10%
• 5Y*: 2.06%
• 10Y*: 2.16%
• ALL TIME*: 1.98%

*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)
JFRDX Janus Henderson Forty Fund Class D	$0.00	$0.00	$0.00
JNSTX Janus Henderson Short Duration Flexible Bond Fund	$0.00	$0.00	$0.00

JFRDX vs. JNSTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JFRDX Janus Henderson Forty Fund Class D	0.04%	18.31%	28.26%	40.01%	-33.58%	22.73%	39.22%	36.75%	1.49%	16.74%
JNSTX Janus Henderson Short Duration Flexible Bond Fund	1.14%	5.89%	5.27%	4.67%	-5.44%	-0.09%	4.81%	4.09%	0.90%	0.84%

Correlation

The correlation between JFRDX and JNSTX is 0.13, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.13
Correlation (3Y) Balances recent behavior with more history.	0.07
Correlation (5Y) Shows whether the relationship held over a longer period.	0.11
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017	0.07

Return for Risk

JFRDX vs. JNSTX — Risk / Return Rank

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

JFRDX

JFRDX Risk / Return Rank: 8
JFRDX Sharpe Ratio Rank: 8
JFRDX Sortino Ratio Rank: 8
JFRDX Omega Ratio Rank: 8
JFRDX Calmar Ratio Rank: 7
JFRDX Martin Ratio Rank: 8

JNSTX

JNSTX Risk / Return Rank: 82
JNSTX Sharpe Ratio Rank: 62
JNSTX Sortino Ratio Rank: 74
JNSTX Omega Ratio Rank: 94
JNSTX Calmar Ratio Rank: 86
JNSTX Martin Ratio Rank: 93

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.

JFRDX vs. JNSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Forty Fund Class D (JFRDX) and Janus Henderson Short Duration Flexible Bond Fund (JNSTX). 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.

	JFRDX	JNSTX	Difference
Sharpe ratio: Return per unit of total volatility	0.22	1.57	-1.35
Sortino ratio: Return per unit of downside risk	0.44	2.59	-2.15
Omega ratio: Gain probability vs. loss probability	1.05	1.55	-0.50
Calmar ratio: Return relative to maximum drawdown	0.23	3.10	-2.87
Martin ratio: Return relative to average drawdown	0.68	14.33	-13.65

JFRDX vs. JNSTX - Sharpe Ratio Comparison

The current JFRDX Sharpe Ratio is 0.22, which is lower than the JNSTX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of JFRDX and JNSTX, 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

JFRDX vs. JNSTX - Drawdown Comparison

The maximum JFRDX drawdown since its inception was -40.91%, which is greater than JNSTX's maximum drawdown of -8.11%. Use the drawdown chart below to compare losses from any high point for JFRDX and JNSTX.

Drawdown Indicators

	JFRDX	JNSTX	Difference
Max Drawdown Largest peak-to-trough decline	-40.91%	-8.11%	-32.80%
Max Drawdown (1Y) Largest decline over 1 year	-19.05%	-1.37%	-17.68%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-1.37%	-20.77%
Max Drawdown (5Y) Largest decline over 5 years	-40.91%	-8.01%	-32.90%
Max Drawdown (10Y) Largest decline over 10 years	—	-8.11%	—
Current Drawdown Current decline from peak	-8.20%	-0.35%	-7.85%
Average Drawdown Average peak-to-trough decline	-8.12%	-0.91%	-7.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.28%	0.30%	+5.98%

Volatility

JFRDX vs. JNSTX - Volatility Comparison

Janus Henderson Forty Fund Class D (JFRDX) has a higher volatility of 6.07% compared to Janus Henderson Short Duration Flexible Bond Fund (JNSTX) at 0.61%. This indicates that JFRDX's price experiences larger fluctuations and is considered to be riskier than JNSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JFRDX	JNSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.07%	0.61%	+5.46%
Volatility (6M) Calculated over the trailing 6-month period	15.83%	2.02%	+13.81%
Volatility (1Y) Calculated over the trailing 1-year period	19.49%	2.70%	+16.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.35%	3.22%	+19.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.10%	2.78%	+19.32%

JFRDX vs. JNSTX - Expense Ratio Comparison

JFRDX has a 0.63% expense ratio, which is higher than JNSTX's 0.53% expense ratio.

Dividends

JFRDX vs. JNSTX - Dividend Comparison

JFRDX's dividend yield for the trailing twelve months is around 13.10%, more than JNSTX's 4.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JFRDX Janus Henderson Forty Fund Class D	13.10%	13.10%	11.27%	9.12%	0.06%	10.12%	8.26%	7.21%	8.88%	9.68%	0.00%	0.00%
JNSTX Janus Henderson Short Duration Flexible Bond Fund	4.48%	4.65%	4.76%	3.12%	1.92%	1.55%	2.05%	2.33%	2.24%	1.61%	1.24%	1.30%

Frequently Asked Questions

Can I hold both JFRDX and JNSTX in my portfolio?

JFRDX and JNSTX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JFRDX or JNSTX?

JFRDX has higher volatility (6.07%) compared to JNSTX (0.61%). In terms of maximum drawdown, JFRDX dropped -40.91% vs JNSTX's -8.11%.

Which has better risk-adjusted returns?

JNSTX currently has the higher Sharpe Ratio (1.57 vs 0.22), 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.