JNSGX vs. VOO

Last updated Aug 1, 2026

JNSGX (Janus Henderson Global Allocation Fund - Growth) and VOO (Vanguard S&P 500 ETF) are both funds - JNSGX is a Global Allocation fund managed by Janus Henderson, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, JNSGX returned 8.21%/yr vs 15.14%/yr for VOO. Their correlation of 0.91 means they have usually moved in the same direction. JNSGX charges 0.26%/yr vs 0.03%/yr for VOO.

Performance

JNSGX vs. VOO - Performance Comparison

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

Returns By Period

In the year-to-date period, JNSGX achieves a 8.33% return, which is significantly lower than VOO's 10.16% return. Over the past 10 years, JNSGX has underperformed VOO with an annualized return of 8.21%, while VOO has yielded a comparatively higher 15.14% annualized return.

JNSGX

• 1D: 1.83%
• 1M: -1.08%
• 6M: 5.62%
• YTD: 8.33%
• 1Y: 17.57%
• 3Y*: 13.45%
• 5Y*: 6.14%
• 10Y*: 8.21%
• ALL TIME*: 6.49%

VOO

• 1D: 0.71%
• 1M: 0.26%
• 6M: 8.58%
• YTD: 10.16%
• 1Y: 21.58%
• 3Y*: 19.42%
• 5Y*: 12.83%
• 10Y*: 15.14%
• ALL TIME*: 14.78%

*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)
JNSGX Janus Henderson Global Allocation Fund - Growth	$0.00	$0.00	$0.00
VOO Vanguard S&P 500 ETF	$3.82B	$3.78B	$5.44B

JNSGX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNSGX Janus Henderson Global Allocation Fund - Growth	8.33%	18.68%	11.17%	13.71%	-17.82%	10.38%	14.54%	19.94%	-8.20%	19.73%
VOO Vanguard S&P 500 ETF	10.16%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between JNSGX and VOO is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.90
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.91

The correlation between JNSGX and VOO has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

JNSGX vs. VOO — Risk / Return Rank

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

JNSGX

JNSGX Risk / Return Rank: 52
JNSGX Sharpe Ratio Rank: 48
JNSGX Sortino Ratio Rank: 48
JNSGX Omega Ratio Rank: 48
JNSGX Calmar Ratio Rank: 52
JNSGX Martin Ratio Rank: 62

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 68
VOO Sortino Ratio Rank: 65
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 64
VOO Martin Ratio Rank: 76

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.

JNSGX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Global Allocation Fund - Growth (JNSGX) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.53	-0.21
Sortino ratio: Return per unit of downside risk	1.92	2.13	-0.21
Omega ratio: Gain probability vs. loss probability	1.25	1.28	-0.03
Calmar ratio: Return relative to maximum drawdown	1.92	2.21	-0.29
Martin ratio: Return relative to average drawdown	7.95	9.44	-1.49

JNSGX vs. VOO - Sharpe Ratio Comparison

The current JNSGX Sharpe Ratio is 1.33, which is comparable to the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of JNSGX and VOO, 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. VOO - Drawdown Comparison

The maximum JNSGX drawdown since its inception was -50.39%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for JNSGX and VOO.

Drawdown Indicators

	JNSGX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-50.39%	-33.99%	-16.40%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-8.90%	+0.42%
Max Drawdown (3Y) Largest decline over 3 years	-13.70%	-18.69%	+4.99%
Max Drawdown (5Y) Largest decline over 5 years	-26.30%	-24.52%	-1.78%
Max Drawdown (10Y) Largest decline over 10 years	-29.47%	-33.99%	+4.52%
Current Drawdown Current decline from peak	-2.07%	-1.38%	-0.69%
Average Drawdown Average peak-to-trough decline	-7.97%	-3.67%	-4.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.08%	-0.04%

Volatility

JNSGX vs. VOO - Volatility Comparison

Janus Henderson Global Allocation Fund - Growth (JNSGX) has a higher volatility of 3.72% compared to Vanguard S&P 500 ETF (VOO) at 3.54%. This indicates that JNSGX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JNSGX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	3.54%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	10.55%	10.10%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	12.24%	12.82%	-0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.25%	16.93%	-3.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.26%	18.01%	-4.75%

JNSGX vs. VOO - Expense Ratio Comparison

JNSGX has a 0.26% expense ratio, which is higher than VOO's 0.03% 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. VOO - Dividend Comparison

JNSGX's dividend yield for the trailing twelve months is around 6.17%, more than VOO's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JNSGX Janus Henderson Global Allocation Fund - Growth	6.17%	6.68%	9.20%	1.46%	4.67%	16.70%	4.75%	7.16%	5.35%	6.43%	2.55%	10.31%
VOO Vanguard S&P 500 ETF	1.07%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both JNSGX and VOO in my portfolio?

With a correlation of 0.92, JNSGX and VOO 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 VOO?

JNSGX has higher volatility (3.72%) compared to VOO (3.54%). In terms of maximum drawdown, JNSGX dropped -50.39% vs VOO's -33.99%.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.53 vs 1.33), 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.