JMBS vs. JLQD
JMBS (Janus Henderson Mortgage-Backed Securities ETF) and JLQD (Janus Henderson Corporate Bond ETF) are both exchange-traded funds - JMBS is a Mortgage Backed Securities fund actively managed by Janus Henderson, while JLQD is a Corporate Bonds fund tracking the Bloomberg U.S. Corporate Bond Index. JMBS is actively managed, while JLQD is passively managed. Over the past 3 years, JMBS returned 4.66%/yr vs 5.54%/yr for JLQD. Their correlation of 0.86 suggests significant overlap in exposure. JMBS charges 0.32%/yr vs 0.20%/yr for JLQD.
Performance
JMBS vs. JLQD - Performance Comparison
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Returns By Period
In the year-to-date period, JMBS achieves a 0.51% return, which is significantly higher than JLQD's 0.24% return.
JMBS
- 1D
- -0.29%
- 1M
- 0.29%
- YTD
- 0.51%
- 6M
- 0.73%
- 1Y
- 7.18%
- 3Y*
- 4.66%
- 5Y*
- 0.74%
- 10Y*
- —
JLQD
- 1D
- -0.21%
- 1M
- 0.42%
- YTD
- 0.24%
- 6M
- 0.13%
- 1Y
- 6.25%
- 3Y*
- 5.54%
- 5Y*
- —
- 10Y*
- —
JMBS vs. JLQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JMBS Janus Henderson Mortgage-Backed Securities ETF | 0.51% | 8.82% | 1.53% | 5.66% | -11.40% | -0.73% |
JLQD Janus Henderson Corporate Bond ETF | 0.24% | 7.77% | 3.21% | 8.76% | -15.99% | -1.25% |
Correlation
The correlation between JMBS and JLQD is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2021 | 0.86 |
The correlation between JMBS and JLQD has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.
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Return for Risk
JMBS vs. JLQD — Risk / Return Rank
JMBS
JLQD
JMBS vs. JLQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Mortgage-Backed Securities ETF (JMBS) and Janus Henderson Corporate Bond ETF (JLQD). 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.
| JMBS | JLQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.29 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 2.19 | +0.17 |
| Martin ratioReturn relative to average drawdown | 7.80 | 7.63 | +0.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JMBS | JLQD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.67 | 1.62 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.02 | +0.40 |
Drawdowns
JMBS vs. JLQD - Drawdown Comparison
The maximum JMBS drawdown since its inception was -16.68%, smaller than the maximum JLQD drawdown of -21.17%. Use the drawdown chart below to compare losses from any high point for JMBS and JLQD.
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Drawdown Indicators
| JMBS | JLQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.68% | -21.17% | +4.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -2.87% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -7.76% | -6.84% | -0.92% |
Max Drawdown (5Y)Largest decline over 5 years | -16.68% | — | — |
Current DrawdownCurrent decline from peak | -1.66% | -0.97% | -0.69% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -8.77% | +4.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.82% | +0.10% |
Volatility
JMBS vs. JLQD - Volatility Comparison
Janus Henderson Mortgage-Backed Securities ETF (JMBS) has a higher volatility of 1.65% compared to Janus Henderson Corporate Bond ETF (JLQD) at 1.25%. This indicates that JMBS's price experiences larger fluctuations and is considered to be riskier than JLQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMBS | JLQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 1.25% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 2.78% | +0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.31% | 3.88% | +0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.49% | 6.32% | +0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.52% | 6.32% | -0.80% |
JMBS vs. JLQD - Expense Ratio Comparison
JMBS has a 0.32% expense ratio, which is higher than JLQD's 0.20% expense ratio.
Dividends
JMBS vs. JLQD - Dividend Comparison
JMBS's dividend yield for the trailing twelve months is around 5.19%, less than JLQD's 5.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JLQD Janus Henderson Corporate Bond ETF | 5.44% | 5.28% | 5.36% | 3.99% | 2.77% | 0.83% | 0.00% | 0.00% | 0.00% |
JMBS Janus Henderson Mortgage-Backed Securities ETF | 5.19% | 5.03% | 5.53% | 4.38% | 2.73% | 1.16% | 2.92% | 3.63% | 0.89% |
Frequently Asked Questions
JMBS and JLQD have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JMBS has higher volatility (1.65%) compared to JLQD (1.25%). In terms of maximum drawdown, JMBS dropped -16.68% vs JLQD's -21.17%.
On 3-year performance, JLQD leads with 5.54% vs 4.66% for JMBS. On fees, JLQD is cheaper at 0.20% per year. On volatility, JLQD has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JLQD has performed better with a 5.54% return vs 4.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JLQD is cheaper with a 0.20% expense ratio, compared with 0.32% for JMBS.
JLQD has the higher dividend yield at 5.44%, compared with 5.19% for JMBS.
JMBS is categorized as Mortgage Backed Securities, while JLQD is Corporate Bonds. Their fees differ too: 0.32% for JMBS and 0.20% for JLQD.
JMBS currently has the higher Sharpe Ratio (1.67 vs 1.62), 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.
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