JNSGX vs. FXAIX

Last updated Jun 24, 2026

JNSGX (Janus Henderson Global Allocation Fund - Growth) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - JNSGX is a Global Allocation fund managed by Janus Henderson, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, JNSGX returned 9.08%/yr vs 15.80%/yr for FXAIX. Their correlation of 0.91 suggests significant overlap in exposure. JNSGX charges 0.26%/yr vs 0.02%/yr for FXAIX.

Performance

JNSGX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Global Allocation Fund - Growth (JNSGX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JNSGX achieves a 10.62% return, which is significantly higher than FXAIX's 9.79% return. Over the past 10 years, JNSGX has underperformed FXAIX with an annualized return of 9.08%, while FXAIX has yielded a comparatively higher 15.80% annualized return.

JNSGX

• 1D: 0.00%
• 1M: 2.91%
• YTD: 10.62%
• 6M: 10.03%
• 1Y: 23.10%
• 3Y*: 15.89%
• 5Y*: 6.72%
• 10Y*: 9.08%

FXAIX

• 1D: -0.37%
• 1M: 0.10%
• YTD: 9.79%
• 6M: 8.79%
• 1Y: 25.51%
• 3Y*: 21.39%
• 5Y*: 13.60%
• 10Y*: 15.80%

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

JNSGX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNSGX Janus Henderson Global Allocation Fund - Growth	10.62%	18.68%	11.17%	13.71%	-17.82%	10.38%	14.54%	19.94%	-8.20%	19.73%
FXAIX Fidelity 500 Index Fund	9.79%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between JNSGX and FXAIX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since May 4, 2011	0.91

The correlation between JNSGX and FXAIX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

JNSGX vs. FXAIX — Risk / Return Rank

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

JNSGX

JNSGX Risk / Return Rank: 60
JNSGX Sharpe Ratio Rank: 58
JNSGX Sortino Ratio Rank: 57
JNSGX Omega Ratio Rank: 60
JNSGX Calmar Ratio Rank: 60
JNSGX Martin Ratio Rank: 67

FXAIX

FXAIX Risk / Return Rank: 65
FXAIX Sharpe Ratio Rank: 64
FXAIX Sortino Ratio Rank: 57
FXAIX Omega Ratio Rank: 59
FXAIX Calmar Ratio Rank: 68
FXAIX Martin Ratio Rank: 78

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.

JNSGX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Global Allocation Fund - Growth (JNSGX) and Fidelity 500 Index Fund (FXAIX). 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.

	JNSGX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.15	-0.08
Sortino ratio: Return per unit of downside risk	2.91	2.91	0.00
Omega ratio: Gain probability vs. loss probability	1.39	1.39	0.00
Calmar ratio: Return relative to maximum drawdown	2.84	3.02	-0.17
Martin ratio: Return relative to average drawdown	12.28	13.62	-1.35

JNSGX vs. FXAIX - Sharpe Ratio Comparison

The current JNSGX Sharpe Ratio is 2.07, which is comparable to the FXAIX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of JNSGX and FXAIX, 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

JNSGX vs. FXAIX - Drawdown Comparison

The maximum JNSGX drawdown since its inception was -50.39%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for JNSGX and FXAIX.

Drawdown Indicators

	JNSGX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-50.39%	-33.79%	-16.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-8.89%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-13.70%	-18.76%	+5.06%
Max Drawdown (5Y) Largest decline over 5 years	-26.30%	-24.50%	-1.80%
Max Drawdown (10Y) Largest decline over 10 years	-29.47%	-33.79%	+4.32%
Current Drawdown Current decline from peak	0.00%	-1.72%	+1.72%
Average Drawdown Average peak-to-trough decline	-8.01%	-3.79%	-4.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	1.97%	-0.01%

Volatility

JNSGX vs. FXAIX - Volatility Comparison

Janus Henderson Global Allocation Fund - Growth (JNSGX) and Fidelity 500 Index Fund (FXAIX) have volatilities of 4.90% and 4.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JNSGX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	4.68%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	9.95%	9.84%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	11.68%	12.50%	-0.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.18%	17.00%	-3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.29%	18.12%	-4.83%

JNSGX vs. FXAIX - Expense Ratio Comparison

JNSGX has a 0.26% expense ratio, which is higher than FXAIX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JNSGX vs. FXAIX - Dividend Comparison

JNSGX's dividend yield for the trailing twelve months is around 6.04%, more than FXAIX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXAIX Fidelity 500 Index Fund	1.04%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%
JNSGX Janus Henderson Global Allocation Fund - Growth	6.04%	6.68%	9.20%	1.46%	4.67%	16.70%	4.75%	7.16%	5.35%	6.43%	2.55%	10.31%

Frequently Asked Questions

Can I hold both JNSGX and FXAIX in my portfolio?

With a correlation of 0.93, JNSGX and FXAIX 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, JNSGX or FXAIX?

JNSGX has higher volatility (4.90%) compared to FXAIX (4.68%). In terms of maximum drawdown, JNSGX dropped -50.39% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (2.15 vs 2.07), 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.