JNRFX vs. JMGRX
JNRFX (Janus Henderson Research Fund Class D) and JMGRX (Janus Enterprise Fund Class I) are both mutual funds - JNRFX is a Large Cap Growth Equities fund actively managed by Janus Henderson, while JMGRX is a Mid Cap Growth Equities fund tracking the Russell Midcap® Growth Index. JNRFX is actively managed, while JMGRX is passively managed. Over the past 10 years, JNRFX returned 15.79%/yr vs 12.51%/yr for JMGRX. Their correlation of 0.89 means they have usually moved in the same direction. JNRFX charges 0.83%/yr vs 0.76%/yr for JMGRX.
Performance
JNRFX vs. JMGRX - Performance Comparison
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Returns By Period
In the year-to-date period, JNRFX achieves a 4.82% return, which is significantly lower than JMGRX's 8.75% return. Over the past 10 years, JNRFX has outperformed JMGRX with an annualized return of 15.79%, while JMGRX has yielded a comparatively lower 12.51% 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%
JMGRX
- 1D
- 1.05%
- 1M
- -0.09%
- 6M
- 9.31%
- YTD
- 8.75%
- 1Y
- 12.16%
- 3Y*
- 11.91%
- 5Y*
- 6.81%
- 10Y*
- 12.51%
- ALL TIME*
- 13.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
JNRFX vs. JMGRX - 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% |
JMGRX Janus Enterprise Fund Class I | 8.75% | 7.66% | 15.28% | 18.03% | -15.99% | 17.07% | 20.43% | 35.28% | -0.88% | 26.36% |
Correlation
The correlation between JNRFX and JMGRX is 0.60, 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. | 0.60 |
Correlation (3Y) Balances recent behavior with more history. | 0.66 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2005 | 0.89 |
Over the past year, the correlation between JNRFX and JMGRX has dropped to 0.60 - well below their long-term average of 0.89, suggesting their price drivers have been diverging.
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Return for Risk
JNRFX vs. JMGRX — Risk / Return Rank
JNRFX
JMGRX
JNRFX vs. JMGRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Research Fund Class D (JNRFX) and Janus Enterprise Fund Class I (JMGRX). 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 | JMGRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.17 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | 1.19 | -0.49 |
| Martin ratioReturn relative to average drawdown | 2.23 | 4.17 | -1.93 |
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Drawdowns
JNRFX vs. JMGRX - Drawdown Comparison
The maximum JNRFX drawdown since its inception was -74.74%, which is greater than JMGRX's maximum drawdown of -55.48%. Use the drawdown chart below to compare losses from any high point for JNRFX and JMGRX.
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Drawdown Indicators
| JNRFX | JMGRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.74% | -55.48% | -19.26% |
Max Drawdown (1Y)Largest decline over 1 year | -17.05% | -11.39% | -5.66% |
Max Drawdown (3Y)Largest decline over 3 years | -22.66% | -19.55% | -3.11% |
Max Drawdown (5Y)Largest decline over 5 years | -36.48% | -24.21% | -12.27% |
Max Drawdown (10Y)Largest decline over 10 years | -36.48% | -38.25% | +1.77% |
Current DrawdownCurrent decline from peak | -4.27% | -0.50% | -3.77% |
Average DrawdownAverage peak-to-trough decline | -24.85% | -5.68% | -19.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.35% | 3.26% | +2.09% |
Volatility
JNRFX vs. JMGRX - Volatility Comparison
Janus Henderson Research Fund Class D (JNRFX) has a higher volatility of 7.20% compared to Janus Enterprise Fund Class I (JMGRX) at 3.21%. This indicates that JNRFX's price experiences larger fluctuations and is considered to be riskier than JMGRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JNRFX | JMGRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.20% | 3.21% | +3.99% |
Volatility (6M)Calculated over the trailing 6-month period | 15.45% | 11.25% | +4.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.58% | 14.33% | +4.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.47% | 17.73% | +4.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.51% | 18.69% | +2.82% |
JNRFX vs. JMGRX - Expense Ratio Comparison
JNRFX has a 0.83% expense ratio, which is higher than JMGRX's 0.76% expense ratio.
Dividends
JNRFX vs. JMGRX - Dividend Comparison
JNRFX's dividend yield for the trailing twelve months is around 11.39%, more than JMGRX's 6.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMGRX Janus Enterprise Fund Class I | 6.86% | 7.46% | 6.97% | 7.46% | 10.42% | 15.91% | 8.44% | 4.47% | 6.42% | 1.77% | 1.81% | 3.63% |
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
JNRFX and JMGRX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JNRFX has higher volatility (7.20%) compared to JMGRX (3.21%). In terms of maximum drawdown, JNRFX dropped -74.74% vs JMGRX's -55.48%.
JMGRX currently has the higher Sharpe Ratio (0.95 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.
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