JGMNX vs. JANEX

Last updated Aug 1, 2026

JGMNX (Janus Henderson Triton Fund Class N) and JANEX (Janus Henderson Enterprise Fund) are both mutual funds - JGMNX is a Small Cap Growth Equities fund tracking the Russell 2000 Growth Index, while JANEX is a Mid Cap Growth Equities fund managed by Janus Henderson. Over the past 10 years, JGMNX returned 10.25%/yr vs 12.37%/yr for JANEX. Their correlation of 0.94 means they have usually moved in the same direction. JGMNX charges 0.67%/yr vs 0.79%/yr for JANEX.

Performance

JGMNX vs. JANEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Triton Fund Class N (JGMNX) and Janus Henderson Enterprise Fund (JANEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JGMNX achieves a 14.19% return, which is significantly higher than JANEX's 7.83% return. Over the past 10 years, JGMNX has underperformed JANEX with an annualized return of 10.25%, while JANEX has yielded a comparatively higher 12.37% annualized return.

JGMNX

• 1D: 0.74%
• 1M: -2.44%
• 6M: 10.78%
• YTD: 14.19%
• 1Y: 23.60%
• 3Y*: 12.00%
• 5Y*: 4.32%
• 10Y*: 10.25%
• ALL TIME*: 11.33%

JANEX

• 1D: 0.28%
• 1M: -0.93%
• 6M: 7.93%
• YTD: 7.83%
• 1Y: 12.57%
• 3Y*: 10.82%
• 5Y*: 6.55%
• 10Y*: 12.37%
• ALL TIME*: 9.87%

*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)
JANEX Janus Henderson Enterprise Fund	$0.00	$0.00	$0.00
JGMNX Janus Henderson Triton Fund Class N	$0.00	$0.00	$0.00

JGMNX vs. JANEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JGMNX Janus Henderson Triton Fund Class N	14.19%	9.78%	10.55%	14.83%	-23.56%	6.88%	28.75%	28.60%	-5.03%	27.24%
JANEX Janus Henderson Enterprise Fund	7.83%	7.64%	15.25%	17.99%	-16.03%	17.02%	20.38%	35.22%	-0.95%	26.36%

Correlation

The correlation between JGMNX and JANEX is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since May 31, 2012	0.94

The correlation between JGMNX and JANEX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

JGMNX vs. JANEX — Risk / Return Rank

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

JGMNX

JGMNX Risk / Return Rank: 46
JGMNX Sharpe Ratio Rank: 41
JGMNX Sortino Ratio Rank: 44
JGMNX Omega Ratio Rank: 37
JGMNX Calmar Ratio Rank: 50
JGMNX Martin Ratio Rank: 57

JANEX

JANEX Risk / Return Rank: 22
JANEX Sharpe Ratio Rank: 22
JANEX Sortino Ratio Rank: 23
JANEX Omega Ratio Rank: 21
JANEX Calmar Ratio Rank: 21
JANEX Martin Ratio Rank: 24

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.

JGMNX vs. JANEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Triton Fund Class N (JGMNX) and Janus Henderson Enterprise Fund (JANEX). 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.

	JGMNX	JANEX	Difference
Sharpe ratio: Return per unit of total volatility	1.24	0.75	+0.49
Sortino ratio: Return per unit of downside risk	1.88	1.17	+0.71
Omega ratio: Gain probability vs. loss probability	1.22	1.14	+0.08
Calmar ratio: Return relative to maximum drawdown	1.89	0.94	+0.95
Martin ratio: Return relative to average drawdown	7.70	3.29	+4.40

JGMNX vs. JANEX - Sharpe Ratio Comparison

The current JGMNX Sharpe Ratio is 1.24, which is higher than the JANEX Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of JGMNX and JANEX, 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

JGMNX vs. JANEX - Drawdown Comparison

The maximum JGMNX drawdown since its inception was -39.72%, smaller than the maximum JANEX drawdown of -79.85%. Use the drawdown chart below to compare losses from any high point for JGMNX and JANEX.

Drawdown Indicators

	JGMNX	JANEX	Difference
Max Drawdown Largest peak-to-trough decline	-39.72%	-79.85%	+40.13%
Max Drawdown (1Y) Largest decline over 1 year	-11.03%	-11.40%	+0.37%
Max Drawdown (3Y) Largest decline over 3 years	-23.84%	-19.57%	-4.27%
Max Drawdown (5Y) Largest decline over 5 years	-31.74%	-24.24%	-7.50%
Max Drawdown (10Y) Largest decline over 10 years	-39.72%	-38.24%	-1.48%
Current Drawdown Current decline from peak	-3.17%	-1.33%	-1.84%
Average Drawdown Average peak-to-trough decline	-7.07%	-25.00%	+17.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	3.26%	-0.54%

Volatility

JGMNX vs. JANEX - Volatility Comparison

Janus Henderson Triton Fund Class N (JGMNX) has a higher volatility of 3.51% compared to Janus Henderson Enterprise Fund (JANEX) at 3.03%. This indicates that JGMNX's price experiences larger fluctuations and is considered to be riskier than JANEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JGMNX	JANEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	3.03%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	13.35%	11.34%	+2.01%
Volatility (1Y) Calculated over the trailing 1-year period	16.79%	14.38%	+2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.69%	17.73%	+1.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.55%	18.68%	+1.87%

JGMNX vs. JANEX - Expense Ratio Comparison

JGMNX has a 0.67% expense ratio, which is lower than JANEX's 0.79% expense ratio.

Dividends

JGMNX vs. JANEX - Dividend Comparison

JGMNX's dividend yield for the trailing twelve months is around 9.51%, more than JANEX's 6.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JANEX Janus Henderson Enterprise Fund	6.97%	7.51%	7.00%	7.52%	10.51%	15.98%	8.46%	4.45%	6.38%	1.78%	1.64%	3.64%
JGMNX Janus Henderson Triton Fund Class N	9.51%	10.86%	7.35%	6.96%	6.10%	19.99%	4.06%	4.20%	7.41%	5.03%	2.96%	7.71%

Frequently Asked Questions

Can I hold both JGMNX and JANEX in my portfolio?

JGMNX and JANEX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JGMNX or JANEX?

JGMNX has higher volatility (3.51%) compared to JANEX (3.03%). In terms of maximum drawdown, JGMNX dropped -39.72% vs JANEX's -79.85%.

Which has better risk-adjusted returns?

JGMNX currently has the higher Sharpe Ratio (1.24 vs 0.75), 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.