JMUIX vs. VBIAX

Last updated Jun 4, 2026

JMUIX (Janus Henderson Multi-Sector Income Fund) and VBIAX (Vanguard Balanced Index Fund Admiral Shares) are both mutual funds - JMUIX is a Multisector Bonds fund managed by Janus Henderson, while VBIAX is a Diversified Portfolio fund managed by Vanguard. Over the past 10 years, JMUIX returned 4.54%/yr vs 9.83%/yr for VBIAX. At a 0.31 correlation, their price movements are largely independent. JMUIX charges 0.69%/yr vs 0.07%/yr for VBIAX.

Performance

JMUIX vs. VBIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Multi-Sector Income Fund (JMUIX) and Vanguard Balanced Index Fund Admiral Shares (VBIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JMUIX achieves a 1.03% return, which is significantly lower than VBIAX's 7.35% return. Over the past 10 years, JMUIX has underperformed VBIAX with an annualized return of 4.54%, while VBIAX has yielded a comparatively higher 9.83% annualized return.

JMUIX

• 1D: 0.00%
• 1M: 0.59%
• YTD: 1.03%
• 6M: 1.52%
• 1Y: 7.36%
• 3Y*: 7.90%
• 5Y*: 3.05%
• 10Y*: 4.54%

VBIAX

• 1D: 0.15%
• 1M: 3.71%
• YTD: 7.35%
• 6M: 7.26%
• 1Y: 19.35%
• 3Y*: 15.04%
• 5Y*: 8.01%
• 10Y*: 9.83%

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

JMUIX vs. VBIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JMUIX Janus Henderson Multi-Sector Income Fund	1.03%	9.63%	7.01%	10.39%	-11.91%	3.26%	5.48%	11.21%	0.65%	6.57%
VBIAX Vanguard Balanced Index Fund Admiral Shares	7.35%	13.61%	14.58%	17.54%	-16.90%	14.21%	16.40%	21.78%	-2.86%	13.89%

Correlation

The correlation between JMUIX and VBIAX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Mar 6, 2014	0.31

The correlation between JMUIX and VBIAX shifts across timeframes, from 0.31 (all time) to 0.49 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

JMUIX vs. VBIAX — Risk / Return Rank

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

JMUIX

JMUIX Risk / Return Rank: 68
JMUIX Sharpe Ratio Rank: 58
JMUIX Sortino Ratio Rank: 79
JMUIX Omega Ratio Rank: 75
JMUIX Calmar Ratio Rank: 59
JMUIX Martin Ratio Rank: 68

VBIAX

VBIAX Risk / Return Rank: 76
VBIAX Sharpe Ratio Rank: 76
VBIAX Sortino Ratio Rank: 74
VBIAX Omega Ratio Rank: 70
VBIAX Calmar Ratio Rank: 75
VBIAX Martin Ratio Rank: 83

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.

JMUIX vs. VBIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Multi-Sector Income Fund (JMUIX) and Vanguard Balanced Index Fund Admiral Shares (VBIAX). 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.

	JMUIX	VBIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.52	-0.28
Sortino ratio: Return per unit of downside risk	3.75	3.59	+0.16
Omega ratio: Gain probability vs. loss probability	1.49	1.47	+0.02
Calmar ratio: Return relative to maximum drawdown	2.96	3.42	-0.46
Martin ratio: Return relative to average drawdown	13.20	15.60	-2.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMUIX vs. VBIAX - Sharpe Ratio Comparison

The current JMUIX Sharpe Ratio is 2.25, which is comparable to the VBIAX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of JMUIX and VBIAX, 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

	JMUIX	VBIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	2.52	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.73	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.13	0.88	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	0.64	+0.51

Drawdowns

JMUIX vs. VBIAX - Drawdown Comparison

The maximum JMUIX drawdown since its inception was -16.09%, smaller than the maximum VBIAX drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for JMUIX and VBIAX.

Drawdown Indicators

	JMUIX	VBIAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.09%	-35.90%	+19.81%
Max Drawdown (1Y) Largest decline over 1 year	-2.50%	-5.83%	+3.33%
Max Drawdown (3Y) Largest decline over 3 years	-3.62%	-11.70%	+8.08%
Max Drawdown (5Y) Largest decline over 5 years	-15.99%	-21.53%	+5.54%
Max Drawdown (10Y) Largest decline over 10 years	-16.09%	-22.78%	+6.69%
Current Drawdown Current decline from peak	-0.12%	0.00%	-0.12%
Average Drawdown Average peak-to-trough decline	-2.13%	-4.44%	+2.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	1.27%	-0.71%

Volatility

JMUIX vs. VBIAX - Volatility Comparison

The current volatility for Janus Henderson Multi-Sector Income Fund (JMUIX) is 1.28%, while Vanguard Balanced Index Fund Admiral Shares (VBIAX) has a volatility of 2.26%. This indicates that JMUIX experiences smaller price fluctuations and is considered to be less risky than VBIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMUIX	VBIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	2.26%	-0.98%
Volatility (6M) Calculated over the trailing 6-month period	2.57%	6.11%	-3.54%
Volatility (1Y) Calculated over the trailing 1-year period	3.29%	7.90%	-4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.44%	11.05%	-6.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.05%	11.21%	-7.16%

JMUIX vs. VBIAX - Expense Ratio Comparison

JMUIX has a 0.69% expense ratio, which is higher than VBIAX's 0.07% expense ratio.

Dividends

JMUIX vs. VBIAX - Dividend Comparison

JMUIX's dividend yield for the trailing twelve months is around 6.44%, more than VBIAX's 5.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JMUIX Janus Henderson Multi-Sector Income Fund	6.44%	6.57%	7.00%	6.66%	5.15%	4.25%	4.62%	4.99%	4.69%	5.66%	5.16%	4.86%
VBIAX Vanguard Balanced Index Fund Admiral Shares	5.21%	6.00%	5.27%	4.35%	2.83%	3.19%	2.65%	2.28%	2.32%	1.95%	2.09%	2.09%

Frequently Asked Questions

Can I hold both JMUIX and VBIAX in my portfolio?

JMUIX and VBIAX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JMUIX or VBIAX?

VBIAX has higher volatility (2.26%) compared to JMUIX (1.28%). In terms of maximum drawdown, JMUIX dropped -16.09% vs VBIAX's -35.90%.

Which has better risk-adjusted returns?

VBIAX currently has the higher Sharpe Ratio (2.52 vs 2.25), 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.