JFRDX vs. VHCAX

Last updated Jun 25, 2026

JFRDX (Janus Henderson Forty Fund Class D) and VHCAX (Vanguard Capital Opportunity Fund Admiral Shares) are both Large Cap Growth Equities funds. Over the past 5 years, JFRDX returned 8.86%/yr vs 13.68%/yr for VHCAX. Their correlation of 0.86 suggests significant overlap in exposure. JFRDX charges 0.63%/yr vs 0.36%/yr for VHCAX.

Performance

JFRDX vs. VHCAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Forty Fund Class D (JFRDX) and Vanguard Capital Opportunity Fund Admiral Shares (VHCAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JFRDX achieves a 1.13% return, which is significantly lower than VHCAX's 24.44% return.

JFRDX

• 1D: -2.63%
• 1M: -2.68%
• YTD: 1.13%
• 6M: 0.07%
• 1Y: 12.89%
• 3Y*: 20.16%
• 5Y*: 8.86%
• 10Y*: —

VHCAX

• 1D: -3.00%
• 1M: 5.11%
• YTD: 24.44%
• 6M: 22.59%
• 1Y: 50.04%
• 3Y*: 25.91%
• 5Y*: 13.68%
• 10Y*: 17.80%

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

JFRDX vs. VHCAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JFRDX Janus Henderson Forty Fund Class D	1.13%	18.31%	28.26%	40.01%	-33.58%	22.73%	39.22%	36.75%	1.49%	16.74%
VHCAX Vanguard Capital Opportunity Fund Admiral Shares	24.44%	25.83%	14.07%	25.63%	-17.56%	20.92%	22.83%	27.30%	-3.71%	23.80%

Correlation

The correlation between JFRDX and VHCAX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017	0.86

The correlation between JFRDX and VHCAX shifts across timeframes, from 0.74 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JFRDX vs. VHCAX — Risk / Return Rank

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

JFRDX

JFRDX Risk / Return Rank: 11
JFRDX Sharpe Ratio Rank: 12
JFRDX Sortino Ratio Rank: 11
JFRDX Omega Ratio Rank: 11
JFRDX Calmar Ratio Rank: 9
JFRDX Martin Ratio Rank: 10

VHCAX

VHCAX Risk / Return Rank: 88
VHCAX Sharpe Ratio Rank: 91
VHCAX Sortino Ratio Rank: 85
VHCAX Omega Ratio Rank: 83
VHCAX Calmar Ratio Rank: 89
VHCAX Martin Ratio Rank: 93

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.

JFRDX vs. VHCAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Forty Fund Class D (JFRDX) and Vanguard Capital Opportunity Fund Admiral Shares (VHCAX). 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	VHCAX	Difference
Sharpe ratio: Return per unit of total volatility	0.82	2.81	-1.99
Sortino ratio: Return per unit of downside risk	1.21	3.70	-2.49
Omega ratio: Gain probability vs. loss probability	1.15	1.50	-0.35
Calmar ratio: Return relative to maximum drawdown	0.81	4.24	-3.43
Martin ratio: Return relative to average drawdown	2.59	18.67	-16.08

JFRDX vs. VHCAX - Sharpe Ratio Comparison

The current JFRDX Sharpe Ratio is 0.82, which is lower than the VHCAX Sharpe Ratio of 2.81. The chart below compares the historical Sharpe Ratios of JFRDX and VHCAX, 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. VHCAX - Drawdown Comparison

The maximum JFRDX drawdown since its inception was -40.91%, smaller than the maximum VHCAX drawdown of -54.27%. Use the drawdown chart below to compare losses from any high point for JFRDX and VHCAX.

Drawdown Indicators

	JFRDX	VHCAX	Difference
Max Drawdown Largest peak-to-trough decline	-40.91%	-54.27%	+13.36%
Max Drawdown (1Y) Largest decline over 1 year	-19.05%	-12.42%	-6.63%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-23.92%	+1.78%
Max Drawdown (5Y) Largest decline over 5 years	-40.91%	-27.55%	-13.36%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.78%	—
Current Drawdown Current decline from peak	-7.20%	-3.00%	-4.20%
Average Drawdown Average peak-to-trough decline	-8.15%	-8.39%	+0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.94%	2.82%	+3.12%

Volatility

JFRDX vs. VHCAX - Volatility Comparison

The current volatility for Janus Henderson Forty Fund Class D (JFRDX) is 8.02%, while Vanguard Capital Opportunity Fund Admiral Shares (VHCAX) has a volatility of 9.08%. This indicates that JFRDX experiences smaller price fluctuations and is considered to be less risky than VHCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JFRDX	VHCAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.02%	9.08%	-1.06%
Volatility (6M) Calculated over the trailing 6-month period	14.97%	15.81%	-0.84%
Volatility (1Y) Calculated over the trailing 1-year period	18.76%	18.73%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.23%	20.14%	+2.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.12%	20.42%	+1.70%

JFRDX vs. VHCAX - Expense Ratio Comparison

JFRDX has a 0.63% expense ratio, which is higher than VHCAX's 0.36% expense ratio.

Dividends

JFRDX vs. VHCAX - Dividend Comparison

JFRDX's dividend yield for the trailing twelve months is around 12.95%, more than VHCAX's 7.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JFRDX Janus Henderson Forty Fund Class D	12.95%	13.10%	11.27%	9.12%	0.06%	10.12%	8.26%	7.21%	8.88%	9.68%	0.00%	0.00%
VHCAX Vanguard Capital Opportunity Fund Admiral Shares	7.81%	9.71%	8.24%	2.40%	9.35%	10.55%	9.19%	6.48%	12.23%	3.87%	5.74%	5.39%

Frequently Asked Questions

Can I hold both JFRDX and VHCAX in my portfolio?

JFRDX and VHCAX have a correlation of 0.74, 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 VHCAX?

VHCAX has higher volatility (9.08%) compared to JFRDX (8.02%). In terms of maximum drawdown, JFRDX dropped -40.91% vs VHCAX's -54.27%.

Which has better risk-adjusted returns?

VHCAX currently has the higher Sharpe Ratio (2.81 vs 0.82), 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.