JNRFX vs. JANRX

Last updated Aug 5, 2026

JNRFX (Janus Henderson Research Fund Class D) and JANRX (Janus Henderson Global Select Fund) are both mutual funds - JNRFX is a Large Cap Growth Equities fund actively managed by Janus Henderson, while JANRX is a Global Equities fund managed by Janus Henderson. Over the past 10 years, JNRFX returned 15.79%/yr vs 13.05%/yr for JANRX. Their correlation of 0.87 means they have usually moved in the same direction. JNRFX charges 0.83%/yr vs 0.82%/yr for JANRX.

Performance

JNRFX vs. JANRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Research Fund Class D (JNRFX) and Janus Henderson Global Select Fund (JANRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JNRFX achieves a 4.82% return, which is significantly lower than JANRX's 10.18% return. Over the past 10 years, JNRFX has outperformed JANRX with an annualized return of 15.79%, while JANRX has yielded a comparatively lower 13.05% annualized return.

JNRFX

• 1D: 2.32%
• 1M: 0.26%
• 6M: 8.41%
• YTD: 4.82%
• 1Y: 9.78%
• 3Y*: 22.57%
• 5Y*: 12.09%
• 10Y*: 15.79%
• ALL TIME*: 10.01%

JANRX

• 1D: 1.09%
• 1M: 0.80%
• 6M: 6.18%
• YTD: 10.18%
• 1Y: 16.86%
• 3Y*: 17.95%
• 5Y*: 10.91%
• 10Y*: 13.05%
• ALL TIME*: 6.00%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JANRX Janus Henderson Global Select Fund	$0.00	$0.00	$0.00
JNRFX Janus Henderson Research Fund Class D	$0.00	$0.00	$0.00

JNRFX vs. JANRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNRFX Janus Henderson Research Fund Class D	4.82%	18.45%	35.13%	43.14%	-29.96%	20.19%	32.82%	35.40%	-2.73%	25.90%
JANRX Janus Henderson Global Select Fund	10.18%	19.49%	17.21%	17.41%	-9.94%	15.96%	16.14%	27.43%	-9.80%	31.08%

Correlation

The correlation between JNRFX and JANRX is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.81
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.82
Correlation (All Time) Calculated using the full available price history since Jul 5, 2000	0.87

The correlation between JNRFX and JANRX has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

Return for Risk

JNRFX vs. JANRX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JNRFX

JNRFX Risk / Return Rank: 15
JNRFX Sharpe Ratio Rank: 16
JNRFX Sortino Ratio Rank: 16
JNRFX Omega Ratio Rank: 16
JNRFX Calmar Ratio Rank: 13
JNRFX Martin Ratio Rank: 15

JANRX

JANRX Risk / Return Rank: 44
JANRX Sharpe Ratio Rank: 41
JANRX Sortino Ratio Rank: 41
JANRX Omega Ratio Rank: 40
JANRX Calmar Ratio Rank: 45
JANRX Martin Ratio Rank: 53

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JNRFX vs. JANRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Research Fund Class D (JNRFX) and Janus Henderson Global Select Fund (JANRX). 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.

	JNRFX	JANRX	Difference
Sharpe ratio: Return per unit of total volatility	0.65	1.36	-0.72
Sortino ratio: Return per unit of downside risk	1.02	1.97	-0.95
Omega ratio: Gain probability vs. loss probability	1.12	1.25	-0.13
Calmar ratio: Return relative to maximum drawdown	0.70	1.92	-1.22
Martin ratio: Return relative to average drawdown	2.23	7.84	-5.61

JNRFX vs. JANRX - Sharpe Ratio Comparison

The current JNRFX Sharpe Ratio is 0.65, which is lower than the JANRX Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of JNRFX and JANRX, 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

JNRFX vs. JANRX - Drawdown Comparison

The maximum JNRFX drawdown since its inception was -74.74%, which is greater than JANRX's maximum drawdown of -63.94%. Use the drawdown chart below to compare losses from any high point for JNRFX and JANRX.

Drawdown Indicators

	JNRFX	JANRX	Difference
Max Drawdown Largest peak-to-trough decline	-74.74%	-63.94%	-10.80%
Max Drawdown (1Y) Largest decline over 1 year	-17.05%	-9.67%	-7.38%
Max Drawdown (3Y) Largest decline over 3 years	-22.66%	-19.56%	-3.10%
Max Drawdown (5Y) Largest decline over 5 years	-36.48%	-23.48%	-13.00%
Max Drawdown (10Y) Largest decline over 10 years	-36.48%	-39.17%	+2.69%
Current Drawdown Current decline from peak	-4.27%	-0.37%	-3.90%
Average Drawdown Average peak-to-trough decline	-24.85%	-17.69%	-7.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.35%	2.36%	+2.99%

Volatility

JNRFX vs. JANRX - Volatility Comparison

Janus Henderson Research Fund Class D (JNRFX) has a higher volatility of 7.20% compared to Janus Henderson Global Select Fund (JANRX) at 5.26%. This indicates that JNRFX's price experiences larger fluctuations and is considered to be riskier than JANRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JNRFX	JANRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.20%	5.26%	+1.94%
Volatility (6M) Calculated over the trailing 6-month period	15.45%	11.91%	+3.54%
Volatility (1Y) Calculated over the trailing 1-year period	18.58%	13.67%	+4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.47%	16.42%	+6.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.51%	17.94%	+3.57%

JNRFX vs. JANRX - Expense Ratio Comparison

JNRFX has a 0.83% expense ratio, which is higher than JANRX's 0.82% expense ratio.

Dividends

JNRFX vs. JANRX - Dividend Comparison

JNRFX's dividend yield for the trailing twelve months is around 11.39%, more than JANRX's 9.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JANRX Janus Henderson Global Select Fund	9.72%	10.71%	10.44%	8.62%	2.81%	13.04%	5.11%	4.37%	17.07%	0.86%	1.14%	1.08%
JNRFX Janus Henderson Research Fund Class D	11.39%	11.94%	5.11%	2.93%	0.43%	13.01%	2.98%	10.37%	11.06%	8.22%	5.41%	9.21%

Frequently Asked Questions

Can I hold both JNRFX and JANRX in my portfolio?

JNRFX and JANRX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JNRFX or JANRX?

JNRFX has higher volatility (7.20%) compared to JANRX (5.26%). In terms of maximum drawdown, JNRFX dropped -74.74% vs JANRX's -63.94%.

Which has better risk-adjusted returns?

JANRX currently has the higher Sharpe Ratio (1.36 vs 0.65), 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.