JHAI vs. JSML
JHAI (Janus Henderson Global Artificial Intelligence ETF) and JSML (Janus Henderson Small Cap Growth Alpha ETF) are both exchange-traded funds - JHAI is a Technology Equities fund actively managed by Janus Henderson, while JSML is a Small Cap Growth Equities fund tracking the Janus Small Cap Growth Alpha Index. JHAI is actively managed, while JSML is passively managed. A 0.72 correlation means they provide meaningful diversification when combined. JHAI charges 0.59%/yr vs 0.30%/yr for JSML.
Performance
JHAI vs. JSML - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JHAI having a 20.81% return and JSML slightly higher at 21.35%.
JHAI
- 1D
- -3.34%
- 1M
- -6.43%
- 6M
- 16.42%
- YTD
- 20.81%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JSML
- 1D
- -1.29%
- 1M
- -0.10%
- 6M
- 14.90%
- YTD
- 21.35%
- 1Y
- 32.46%
- 3Y*
- 15.84%
- 5Y*
- 7.67%
- 10Y*
- 12.63%
JHAI vs. JSML - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JHAI Janus Henderson Global Artificial Intelligence ETF | 20.81% | 10.90% |
JSML Janus Henderson Small Cap Growth Alpha ETF | 21.35% | 4.82% |
Correlation
The correlation between JHAI and JSML is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 20, 2025 | 0.72 |
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Return for Risk
JHAI vs. JSML — Risk / Return Rank
JHAI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
JSML
JHAI vs. JSML - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Global Artificial Intelligence ETF (JHAI) and Janus Henderson Small Cap Growth Alpha ETF (JSML). 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.
| JHAI | JSML | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.25 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.20 | — |
| Martin ratioReturn relative to average drawdown | — | 7.72 | — |
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Drawdowns
JHAI vs. JSML - Drawdown Comparison
The maximum JHAI drawdown since its inception was -15.38%, smaller than the maximum JSML drawdown of -39.65%. Use the drawdown chart below to compare losses from any high point for JHAI and JSML.
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Drawdown Indicators
| JHAI | JSML | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.38% | -39.65% | +24.27% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.84% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.60% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.91% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.65% | — |
Current DrawdownCurrent decline from peak | -10.96% | -4.59% | -6.37% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -10.76% | +6.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.22% | — |
Volatility
JHAI vs. JSML - Volatility Comparison
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Volatility by Period
| JHAI | JSML | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.81% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 17.32% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 29.00% | 22.41% | +6.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.00% | 24.52% | +4.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.00% | 24.26% | +4.74% |
JHAI vs. JSML - Expense Ratio Comparison
JHAI has a 0.59% expense ratio, which is higher than JSML's 0.30% expense ratio.
Dividends
JHAI vs. JSML - Dividend Comparison
JHAI's dividend yield for the trailing twelve months is around 0.34%, less than JSML's 0.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
JHAI Janus Henderson Global Artificial Intelligence ETF | 0.34% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JSML Janus Henderson Small Cap Growth Alpha ETF | 0.61% | 0.94% | 1.19% | 0.49% | 0.67% | 0.46% | 0.30% | 0.27% | 0.76% | 0.42% | 0.52% |
Frequently Asked Questions
JHAI and JSML have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JSML is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JSML is cheaper with a 0.30% expense ratio, compared with 0.59% for JHAI.
JSML has the higher dividend yield at 0.61%, compared with 0.34% for JHAI.
JHAI is categorized as Technology Equities, while JSML is Small Cap Growth Equities. Their fees differ too: 0.59% for JHAI and 0.30% for JSML.
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