JMID vs. JMBS

Last updated Jun 5, 2026

JMID (Janus Henderson Mid Cap Growth Alpha ETF) and JMBS (Janus Henderson Mortgage-Backed Securities ETF) are both exchange-traded funds - JMID is a Mid Cap Growth Equities fund actively managed by Janus Henderson, while JMBS is a Mortgage Backed Securities fund actively managed by Janus Henderson. Both are actively managed. Over the past year, JMID returned 14.19% vs 6.48% for JMBS. At a 0.22 correlation, their price movements are largely independent. JMID charges 0.30%/yr vs 0.32%/yr for JMBS.

Performance

JMID vs. JMBS - Performance Comparison

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

Returns By Period

In the year-to-date period, JMID achieves a 10.46% return, which is significantly higher than JMBS's 0.15% return.

JMID

• 1D: 0.81%
• 1M: 4.35%
• YTD: 10.46%
• 6M: 9.00%
• 1Y: 14.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JMBS

• 1D: -0.53%
• 1M: -0.88%
• YTD: 0.15%
• 6M: 0.64%
• 1Y: 6.48%
• 3Y*: 4.49%
• 5Y*: 0.67%
• 10Y*: —

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

JMID vs. JMBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JMID Janus Henderson Mid Cap Growth Alpha ETF	10.46%	5.56%	11.37%
JMBS Janus Henderson Mortgage-Backed Securities ETF	0.15%	8.82%	-3.72%

Correlation

The correlation between JMID and JMBS is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Sep 19, 2024	0.22

Return for Risk

JMID vs. JMBS — Risk / Return Rank

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

JMID

JMID Risk / Return Rank: 26
JMID Sharpe Ratio Rank: 25
JMID Sortino Ratio Rank: 25
JMID Omega Ratio Rank: 23
JMID Calmar Ratio Rank: 28
JMID Martin Ratio Rank: 31

JMBS

JMBS Risk / Return Rank: 46
JMBS Sharpe Ratio Rank: 46
JMBS Sortino Ratio Rank: 48
JMBS Omega Ratio Rank: 46
JMBS Calmar Ratio Rank: 45
JMBS Martin Ratio Rank: 45

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. JMBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Mid Cap Growth Alpha ETF (JMID) and Janus Henderson Mortgage-Backed Securities ETF (JMBS). 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.

	JMID	JMBS	Difference
Sharpe ratio: Return per unit of total volatility	0.86	1.52	-0.66
Sortino ratio: Return per unit of downside risk	1.33	2.25	-0.92
Omega ratio: Gain probability vs. loss probability	1.15	1.28	-0.12
Calmar ratio: Return relative to maximum drawdown	1.32	2.13	-0.81
Martin ratio: Return relative to average drawdown	4.42	6.97	-2.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMID vs. JMBS - Sharpe Ratio Comparison

The current JMID Sharpe Ratio is 0.86, which is lower than the JMBS Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of JMID and JMBS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JMID	JMBS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	1.52	-0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.41	+0.36

Drawdowns

JMID vs. JMBS - Drawdown Comparison

The maximum JMID drawdown since its inception was -25.58%, which is greater than JMBS's maximum drawdown of -16.68%. Use the drawdown chart below to compare losses from any high point for JMID and JMBS.

Drawdown Indicators

	JMID	JMBS	Difference
Max Drawdown Largest peak-to-trough decline	-25.58%	-16.68%	-8.90%
Max Drawdown (1Y) Largest decline over 1 year	-10.82%	-3.05%	-7.77%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.68%	—
Current Drawdown Current decline from peak	-0.28%	-2.01%	+1.73%
Average Drawdown Average peak-to-trough decline	-4.57%	-3.89%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	0.93%	+2.29%

Volatility

JMID vs. JMBS - Volatility Comparison

Janus Henderson Mid Cap Growth Alpha ETF (JMID) has a higher volatility of 4.23% compared to Janus Henderson Mortgage-Backed Securities ETF (JMBS) at 1.62%. This indicates that JMID's price experiences larger fluctuations and is considered to be riskier than JMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMID	JMBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	1.62%	+2.61%
Volatility (6M) Calculated over the trailing 6-month period	12.68%	3.27%	+9.41%
Volatility (1Y) Calculated over the trailing 1-year period	16.56%	4.29%	+12.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.58%	6.49%	+15.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.58%	5.52%	+16.06%

JMID vs. JMBS - Expense Ratio Comparison

JMID has a 0.30% expense ratio, which is lower than JMBS's 0.32% expense ratio.

Dividends

JMID vs. JMBS - Dividend Comparison

JMID's dividend yield for the trailing twelve months is around 0.63%, less than JMBS's 5.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JMBS Janus Henderson Mortgage-Backed Securities ETF	5.21%	5.03%	5.53%	4.38%	2.73%	1.16%	2.92%	3.63%	0.89%
JMID Janus Henderson Mid Cap Growth Alpha ETF	0.63%	0.75%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JMID and JMBS in my portfolio?

JMID and JMBS have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMID or JMBS?

JMID has higher volatility (4.23%) compared to JMBS (1.62%). In terms of maximum drawdown, JMID dropped -25.58% vs JMBS's -16.68%.

Which ETF is better, JMID or JMBS?

On 1-year performance, JMID leads with 14.19% vs 6.48% for JMBS. On fees, JMID is cheaper at 0.30% per year. On volatility, JMBS has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JMID or JMBS?

Over the 1-year period, JMID has performed better with a 14.19% return vs 6.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JMID or JMBS?

JMID is cheaper with a 0.30% expense ratio, compared with 0.32% for JMBS.

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

JMBS has the higher dividend yield at 5.21%, compared with 0.63% for JMID.

What is the main difference between JMID and JMBS?

JMID is categorized as Mid Cap Growth Equities, while JMBS is Mortgage Backed Securities. Their fees differ too: 0.30% for JMID and 0.32% for JMBS.

Which has better risk-adjusted returns?

JMBS currently has the higher Sharpe Ratio (1.52 vs 0.86), 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.