JNRFX vs. VGT

Last updated Apr 2, 2026

Compare and contrast key facts about Janus Henderson Research Fund (JNRFX) and Vanguard Information Technology ETF (VGT).

JNRFX is managed by Janus Henderson. It was launched on May 3, 1993. VGT is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Information Technology 25/50 Index. It was launched on Mar 25, 2004.

Performance

JNRFX vs. VGT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Research Fund (JNRFX) and Vanguard Information Technology ETF (VGT). The values are adjusted to include any dividend payments, if applicable.

JNRFX vs. VGT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNRFX Janus Henderson Research Fund	-10.67%	18.45%	35.13%	43.14%	-29.96%	20.19%	32.82%	35.40%	-2.73%	25.90%
VGT Vanguard Information Technology ETF	-6.16%	21.77%	29.30%	52.66%	-29.70%	30.45%	46.04%	48.62%	2.46%	37.08%

Returns By Period

In the year-to-date period, JNRFX achieves a -10.67% return, which is significantly lower than VGT's -6.16% return. Over the past 10 years, JNRFX has underperformed VGT with an annualized return of 14.57%, while VGT has yielded a comparatively higher 21.51% annualized return.

JNRFX

• 1D: 3.86%
• 1M: -6.01%
• YTD: -10.67%
• 6M: -10.21%
• 1Y: 15.96%
• 3Y*: 21.52%
• 5Y*: 10.93%
• 10Y*: 14.57%

VGT

• 1D: 1.28%
• 1M: -3.61%
• YTD: -6.16%
• 6M: -5.90%
• 1Y: 29.76%
• 3Y*: 23.10%
• 5Y*: 14.83%
• 10Y*: 21.51%

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

JNRFX vs. VGT - Expense Ratio Comparison

JNRFX has a 0.66% expense ratio, which is higher than VGT's 0.09% expense ratio.

JNRFX

Janus Henderson Research Fund

VGT

Vanguard Information Technology ETF

Return for Risk

JNRFX vs. VGT — Risk / Return Rank

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

JNRFX

JNRFX Risk / Return Rank: 33
JNRFX Sharpe Ratio Rank: 31
JNRFX Sortino Ratio Rank: 36
JNRFX Omega Ratio Rank: 34
JNRFX Calmar Ratio Rank: 35
JNRFX Martin Ratio Rank: 31

VGT

VGT Risk / Return Rank: 62
VGT Sharpe Ratio Rank: 60
VGT Sortino Ratio Rank: 63
VGT Omega Ratio Rank: 61
VGT Calmar Ratio Rank: 71
VGT Martin Ratio Rank: 57

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.

JNRFX vs. VGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Research Fund (JNRFX) and Vanguard Information Technology ETF (VGT). 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.

	JNRFX	VGT	Difference
Sharpe ratio Return per unit of total volatility	0.76	1.10	-0.34
Sortino ratio Return per unit of downside risk	1.25	1.67	-0.43
Omega ratio Gain probability vs. loss probability	1.17	1.23	-0.06
Calmar ratio Return relative to maximum drawdown	0.99	1.88	-0.90
Martin ratio Return relative to average drawdown	3.52	5.77	-2.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JNRFX vs. VGT - Sharpe Ratio Comparison

The current JNRFX Sharpe Ratio is 0.76, which is lower than the VGT Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of JNRFX and VGT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JNRFX	VGT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	1.10	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.59	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.88	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.61	-0.17

Correlation

The correlation between JNRFX and VGT is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JNRFX vs. VGT - Dividend Comparison

JNRFX's dividend yield for the trailing twelve months is around 13.36%, more than VGT's 0.43% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JNRFX Janus Henderson Research Fund	13.36%	11.94%	5.11%	2.93%	0.43%	13.01%	2.98%	10.37%	11.06%	8.22%	5.41%	9.21%
VGT Vanguard Information Technology ETF	0.43%	0.40%	0.60%	0.65%	0.91%	0.64%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Drawdowns

JNRFX vs. VGT - Drawdown Comparison

The maximum JNRFX drawdown since its inception was -74.74%, which is greater than VGT's maximum drawdown of -54.63%. Use the drawdown chart below to compare losses from any high point for JNRFX and VGT.

Drawdown Indicators

	JNRFX	VGT	Difference
Max Drawdown Largest peak-to-trough decline	-74.74%	-54.63%	-20.11%
Max Drawdown (1Y) Largest decline over 1 year	-17.05%	-16.40%	-0.65%
Max Drawdown (5Y) Largest decline over 5 years	-36.48%	-35.07%	-1.41%
Max Drawdown (10Y) Largest decline over 10 years	-36.48%	-35.07%	-1.41%
Current Drawdown Current decline from peak	-13.85%	-11.66%	-2.19%
Average Drawdown Average peak-to-trough decline	-25.07%	-8.00%	-17.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.78%	5.35%	-0.57%

Volatility

JNRFX vs. VGT - Volatility Comparison

The current volatility for Janus Henderson Research Fund (JNRFX) is 7.06%, while Vanguard Information Technology ETF (VGT) has a volatility of 8.03%. This indicates that JNRFX experiences smaller price fluctuations and is considered to be less risky than VGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JNRFX	VGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.06%	8.03%	-0.97%
Volatility (6M) Calculated over the trailing 6-month period	12.64%	16.35%	-3.71%
Volatility (1Y) Calculated over the trailing 1-year period	22.52%	27.27%	-4.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.03%	25.06%	-3.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.27%	24.48%	-3.21%