JMGRX vs. SPMD
JMGRX (Janus Enterprise Fund Class I) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both funds - JMGRX is a Mid Cap Growth Equities fund tracking the Russell Midcap® Growth Index, while SPMD is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index. Both are passively managed. Over the past 10 years, JMGRX returned 12.42%/yr vs 11.15%/yr for SPMD. Their correlation of 0.87 means they have usually moved in the same direction. JMGRX charges 0.76%/yr vs 0.03%/yr for SPMD.
Performance
JMGRX vs. SPMD - Performance Comparison
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Returns By Period
In the year-to-date period, JMGRX achieves a 7.84% return, which is significantly lower than SPMD's 14.67% return. Over the past 10 years, JMGRX has outperformed SPMD with an annualized return of 12.42%, while SPMD has yielded a comparatively lower 11.15% annualized return.
JMGRX
- 1D
- 0.29%
- 1M
- -0.93%
- 6M
- 7.95%
- YTD
- 7.84%
- 1Y
- 12.59%
- 3Y*
- 10.84%
- 5Y*
- 6.58%
- 10Y*
- 12.42%
- ALL TIME*
- 13.29%
SPMD
- 1D
- -0.08%
- 1M
- -1.01%
- 6M
- 10.21%
- YTD
- 14.67%
- 1Y
- 22.87%
- 3Y*
- 13.08%
- 5Y*
- 8.47%
- 10Y*
- 11.15%
- ALL TIME*
- 9.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $86.63M | $87.95M | $104.48M |
JMGRX vs. SPMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JMGRX Janus Enterprise Fund Class I | 7.84% | 7.66% | 15.28% | 18.03% | -15.99% | 17.07% | 20.43% | 35.28% | -0.88% | 26.36% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 14.67% | 7.44% | 13.91% | 16.48% | -13.13% | 24.76% | 13.46% | 25.19% | -10.34% | 15.12% |
Correlation
The correlation between JMGRX and SPMD is 0.89, 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. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2005 | 0.87 |
The correlation between JMGRX and SPMD has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.
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Return for Risk
JMGRX vs. SPMD — Risk / Return Rank
JMGRX
SPMD
JMGRX vs. SPMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Enterprise Fund Class I (JMGRX) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD). 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.
| JMGRX | SPMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.24 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | 2.39 | -1.44 |
| Martin ratioReturn relative to average drawdown | 3.30 | 8.71 | -5.41 |
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Drawdowns
JMGRX vs. SPMD - Drawdown Comparison
The maximum JMGRX drawdown since its inception was -55.48%, roughly equal to the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for JMGRX and SPMD.
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Drawdown Indicators
| JMGRX | SPMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.48% | -57.62% | +2.14% |
Max Drawdown (1Y)Largest decline over 1 year | -11.39% | -8.86% | -2.53% |
Max Drawdown (3Y)Largest decline over 3 years | -19.55% | -24.08% | +4.53% |
Max Drawdown (5Y)Largest decline over 5 years | -24.21% | -24.08% | -0.13% |
Max Drawdown (10Y)Largest decline over 10 years | -38.25% | -41.86% | +3.61% |
Current DrawdownCurrent decline from peak | -1.33% | -2.34% | +1.01% |
Average DrawdownAverage peak-to-trough decline | -5.68% | -8.07% | +2.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 2.42% | +0.84% |
Volatility
JMGRX vs. SPMD - Volatility Comparison
The current volatility for Janus Enterprise Fund Class I (JMGRX) is 3.04%, while SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a volatility of 3.50%. This indicates that JMGRX experiences smaller price fluctuations and is considered to be less risky than SPMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMGRX | SPMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.04% | 3.50% | -0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 11.33% | 11.67% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.37% | 15.79% | -1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.72% | 19.63% | -1.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.68% | 21.14% | -2.46% |
JMGRX vs. SPMD - Expense Ratio Comparison
JMGRX has a 0.76% expense ratio, which is higher than SPMD's 0.03% expense ratio.
Dividends
JMGRX vs. SPMD - Dividend Comparison
JMGRX's dividend yield for the trailing twelve months is around 6.92%, more than SPMD's 1.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMGRX Janus Enterprise Fund Class I | 6.92% | 7.46% | 6.97% | 7.46% | 10.42% | 15.91% | 8.44% | 4.47% | 6.42% | 1.77% | 1.81% | 3.63% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.23% | 1.39% | 1.42% | 1.47% | 1.64% | 1.24% | 1.30% | 1.57% | 1.85% | 1.97% | 2.13% | 5.33% |
Frequently Asked Questions
JMGRX and SPMD have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMD has higher volatility (3.50%) compared to JMGRX (3.04%). In terms of maximum drawdown, JMGRX dropped -55.48% vs SPMD's -57.62%.
SPMD currently has the higher Sharpe Ratio (1.34 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.
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