JMID vs. IWR

Last updated Jun 23, 2026

JMID (Janus Henderson Mid Cap Growth Alpha ETF) and IWR (iShares Russell Midcap ETF) are both Mid Cap Growth Equities funds. JMID is actively managed, while IWR is passively managed. Over the past year, JMID returned 12.15% vs 23.42% for IWR. Their correlation of 0.91 suggests significant overlap in exposure. JMID charges 0.30%/yr vs 0.19%/yr for IWR.

Performance

JMID vs. IWR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Mid Cap Growth Alpha ETF (JMID) and iShares Russell Midcap ETF (IWR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMID achieves a 7.39% return, which is significantly lower than IWR's 13.93% return.

JMID

• 1D: -0.14%
• 1M: 0.25%
• YTD: 7.39%
• 6M: 5.11%
• 1Y: 12.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWR

• 1D: 0.52%
• 1M: 3.28%
• YTD: 13.93%
• 6M: 12.06%
• 1Y: 23.42%
• 3Y*: 17.38%
• 5Y*: 8.30%
• 10Y*: 12.03%

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

JMID vs. IWR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JMID Janus Henderson Mid Cap Growth Alpha ETF	7.39%	5.56%	11.33%
IWR iShares Russell Midcap ETF	13.93%	10.37%	2.47%

Correlation

The correlation between JMID and IWR is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	0.91

The correlation between JMID and IWR has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

JMID vs. IWR - Sectors Allocation Comparison

Sectors	JMID	IWR
Technology	28.3%	19.6%
Industrials	24.5%	18.1%
Consumer Cyclical	18.1%	11.1%
Healthcare	11.1%	8.7%
Financial Services	5.1%	12.1%
Communication Services	4.9%	3.3%
Real Estate	2.2%	6.8%
Consumer Defensive	2.1%	3.9%
Basic Materials	1.5%	4.2%
Energy	1.5%	6.5%
Utilities	0.7%	5.7%

Return for Risk

JMID vs. IWR — Risk / Return Rank

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

JMID

JMID Risk / Return Rank: 23
JMID Sharpe Ratio Rank: 21
JMID Sortino Ratio Rank: 21
JMID Omega Ratio Rank: 19
JMID Calmar Ratio Rank: 24
JMID Martin Ratio Rank: 28

IWR

IWR Risk / Return Rank: 55
IWR Sharpe Ratio Rank: 52
IWR Sortino Ratio Rank: 51
IWR Omega Ratio Rank: 48
IWR Calmar Ratio Rank: 60
IWR Martin Ratio Rank: 63

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.

JMID vs. IWR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Mid Cap Growth Alpha ETF (JMID) and iShares Russell Midcap ETF (IWR). 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.

	JMID	IWR	Difference
Sharpe ratio: Return per unit of total volatility	0.72	1.71	-0.99
Sortino ratio: Return per unit of downside risk	1.13	2.44	-1.31
Omega ratio: Gain probability vs. loss probability	1.13	1.30	-0.17
Calmar ratio: Return relative to maximum drawdown	1.13	2.88	-1.75
Martin ratio: Return relative to average drawdown	3.72	11.02	-7.30

JMID vs. IWR - Sharpe Ratio Comparison

The current JMID Sharpe Ratio is 0.72, which is lower than the IWR Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of JMID and IWR, 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

JMID vs. IWR - Drawdown Comparison

The maximum JMID drawdown since its inception was -25.58%, smaller than the maximum IWR drawdown of -58.78%. Use the drawdown chart below to compare losses from any high point for JMID and IWR.

Drawdown Indicators

	JMID	IWR	Difference
Max Drawdown Largest peak-to-trough decline	-25.58%	-58.78%	+33.20%
Max Drawdown (1Y) Largest decline over 1 year	-10.82%	-8.17%	-2.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.09%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.59%	—
Current Drawdown Current decline from peak	-3.05%	-0.30%	-2.75%
Average Drawdown Average peak-to-trough decline	-4.52%	-7.79%	+3.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	2.13%	+1.14%

Volatility

JMID vs. IWR - Volatility Comparison

Janus Henderson Mid Cap Growth Alpha ETF (JMID) has a higher volatility of 5.25% compared to iShares Russell Midcap ETF (IWR) at 4.41%. This indicates that JMID's price experiences larger fluctuations and is considered to be riskier than IWR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMID	IWR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.25%	4.41%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	13.24%	10.38%	+2.86%
Volatility (1Y) Calculated over the trailing 1-year period	16.92%	13.80%	+3.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.56%	18.28%	+3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.56%	19.40%	+2.16%

JMID vs. IWR - Expense Ratio Comparison

JMID has a 0.30% expense ratio, which is higher than IWR's 0.19% expense ratio.

Dividends

JMID vs. IWR - Dividend Comparison

JMID's dividend yield for the trailing twelve months is around 0.65%, less than IWR's 1.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWR iShares Russell Midcap ETF	1.16%	1.29%	1.27%	1.43%	1.59%	1.04%	1.28%	1.43%	1.98%	1.52%	1.72%	1.59%
JMID Janus Henderson Mid Cap Growth Alpha ETF	0.65%	0.75%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JMID and IWR in my portfolio?

With a correlation of 0.90, JMID and IWR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JMID or IWR?

JMID has higher volatility (5.25%) compared to IWR (4.41%). In terms of maximum drawdown, JMID dropped -25.58% vs IWR's -58.78%.

Which ETF is better, JMID or IWR?

On 1-year performance, IWR leads with 23.42% vs 12.15% for JMID. On fees, IWR is cheaper at 0.19% per year. On volatility, IWR has been the lower-risk option at 4.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JMID or IWR?

Over the 1-year period, IWR has performed better with a 23.42% return vs 12.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMID or IWR?

IWR is cheaper with a 0.19% expense ratio, compared with 0.30% for JMID.

Which ETF pays a higher dividend yield, JMID or IWR?

IWR has the higher dividend yield at 1.16%, compared with 0.65% for JMID.

What is the main difference between JMID and IWR?

They also come from different issuers: Janus Henderson and iShares. Their fees differ too: 0.30% for JMID and 0.19% for IWR.

Which has better risk-adjusted returns?

IWR currently has the higher Sharpe Ratio (1.71 vs 0.72), 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.