JNGTX vs. FTEC

Last updated Jun 23, 2026

JNGTX (Janus Henderson Global Technology and Innovation Fund Class D) and FTEC (Fidelity MSCI Information Technology Index ETF) are both Technology Equities funds. Over the past 10 years, JNGTX returned 24.68%/yr vs 25.75%/yr for FTEC. With a 0.95 correlation, they move nearly in lockstep. JNGTX charges 0.79%/yr vs 0.08%/yr for FTEC.

Performance

JNGTX vs. FTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Global Technology and Innovation Fund Class D (JNGTX) and Fidelity MSCI Information Technology Index ETF (FTEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JNGTX achieves a 35.33% return, which is significantly higher than FTEC's 28.31% return. Both investments have delivered pretty close results over the past 10 years, with JNGTX having a 24.68% annualized return and FTEC not far ahead at 25.75%.

JNGTX

• 1D: 3.08%
• 1M: 10.10%
• YTD: 35.33%
• 6M: 35.96%
• 1Y: 57.88%
• 3Y*: 36.13%
• 5Y*: 18.06%
• 10Y*: 24.68%

FTEC

• 1D: 0.40%
• 1M: 4.21%
• YTD: 28.31%
• 6M: 27.06%
• 1Y: 54.89%
• 3Y*: 32.23%
• 5Y*: 20.85%
• 10Y*: 25.75%

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

JNGTX vs. FTEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNGTX Janus Henderson Global Technology and Innovation Fund Class D	35.33%	25.00%	32.34%	55.33%	-37.63%	17.53%	51.18%	45.15%	0.92%	44.69%
FTEC Fidelity MSCI Information Technology Index ETF	28.31%	22.11%	29.40%	53.30%	-29.59%	30.49%	45.83%	48.93%	-0.39%	36.83%

Correlation

The correlation between JNGTX and FTEC is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.95

The correlation between JNGTX and FTEC has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

JNGTX vs. FTEC — Risk / Return Rank

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

JNGTX

JNGTX Risk / Return Rank: 72
JNGTX Sharpe Ratio Rank: 82
JNGTX Sortino Ratio Rank: 64
JNGTX Omega Ratio Rank: 68
JNGTX Calmar Ratio Rank: 82
JNGTX Martin Ratio Rank: 64

FTEC

FTEC Risk / Return Rank: 70
FTEC Sharpe Ratio Rank: 80
FTEC Sortino Ratio Rank: 69
FTEC Omega Ratio Rank: 71
FTEC Calmar Ratio Rank: 70
FTEC Martin Ratio Rank: 60

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.

JNGTX vs. FTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Global Technology and Innovation Fund Class D (JNGTX) and Fidelity MSCI Information Technology Index ETF (FTEC). 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.

	JNGTX	FTEC	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.46	+0.02
Sortino ratio: Return per unit of downside risk	3.05	3.02	+0.03
Omega ratio: Gain probability vs. loss probability	1.42	1.40	+0.02
Calmar ratio: Return relative to maximum drawdown	3.59	3.39	+0.20
Martin ratio: Return relative to average drawdown	11.91	10.46	+1.45

JNGTX vs. FTEC - Sharpe Ratio Comparison

The current JNGTX Sharpe Ratio is 2.48, which is comparable to the FTEC Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of JNGTX and FTEC, 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

JNGTX vs. FTEC - Drawdown Comparison

The maximum JNGTX drawdown since its inception was -84.79%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for JNGTX and FTEC.

Drawdown Indicators

	JNGTX	FTEC	Difference
Max Drawdown Largest peak-to-trough decline	-84.79%	-34.95%	-49.84%
Max Drawdown (1Y) Largest decline over 1 year	-15.93%	-16.26%	+0.33%
Max Drawdown (3Y) Largest decline over 3 years	-23.91%	-27.30%	+3.39%
Max Drawdown (5Y) Largest decline over 5 years	-46.46%	-34.95%	-11.51%
Max Drawdown (10Y) Largest decline over 10 years	-46.46%	-34.95%	-11.51%
Current Drawdown Current decline from peak	0.00%	-4.17%	+4.17%
Average Drawdown Average peak-to-trough decline	-40.16%	-5.57%	-34.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.80%	5.26%	-0.46%

Volatility

JNGTX vs. FTEC - Volatility Comparison

Janus Henderson Global Technology and Innovation Fund Class D (JNGTX) has a higher volatility of 11.81% compared to Fidelity MSCI Information Technology Index ETF (FTEC) at 10.69%. This indicates that JNGTX's price experiences larger fluctuations and is considered to be riskier than FTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JNGTX	FTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.81%	10.69%	+1.12%
Volatility (6M) Calculated over the trailing 6-month period	19.75%	18.25%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	23.13%	22.50%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.83%	25.54%	+1.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.80%	24.87%	-0.07%

JNGTX vs. FTEC - Expense Ratio Comparison

JNGTX has a 0.79% expense ratio, which is higher than FTEC's 0.08% expense ratio.

Dividends

JNGTX vs. FTEC - Dividend Comparison

JNGTX's dividend yield for the trailing twelve months is around 9.92%, more than FTEC's 0.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTEC Fidelity MSCI Information Technology Index ETF	0.35%	0.43%	0.49%	0.77%	0.93%	0.63%	0.83%	1.03%	1.20%	0.96%	1.25%	1.27%
JNGTX Janus Henderson Global Technology and Innovation Fund Class D	9.92%	13.42%	11.65%	0.77%	0.00%	15.86%	8.99%	8.55%	6.61%	7.47%	4.83%	7.75%

Frequently Asked Questions

Can I hold both JNGTX and FTEC in my portfolio?

With a correlation of 0.91, JNGTX and FTEC 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, JNGTX or FTEC?

JNGTX has higher volatility (11.81%) compared to FTEC (10.69%). In terms of maximum drawdown, JNGTX dropped -84.79% vs FTEC's -34.95%.

Which has better risk-adjusted returns?

JNGTX currently has the higher Sharpe Ratio (2.48 vs 2.46), 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.