JNSMX vs. JNSGX
JNSMX (Janus Henderson Global Allocation Fund - Moderate) and JNSGX (Janus Henderson Global Allocation Fund - Growth) are both Global Allocation funds from Janus Henderson. Over the past 10 years, JNSMX returned 6.85%/yr vs 8.63%/yr for JNSGX. With a 0.99 correlation, they move nearly in lockstep. JNSMX charges 0.25%/yr vs 0.26%/yr for JNSGX.
Performance
JNSMX vs. JNSGX - Performance Comparison
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Returns By Period
In the year-to-date period, JNSMX achieves a 7.31% return, which is significantly lower than JNSGX's 9.44% return. Over the past 10 years, JNSMX has underperformed JNSGX with an annualized return of 6.85%, while JNSGX has yielded a comparatively higher 8.63% annualized return.
JNSMX
- 1D
- -0.62%
- 1M
- 3.08%
- YTD
- 7.31%
- 6M
- 7.83%
- 1Y
- 17.75%
- 3Y*
- 12.83%
- 5Y*
- 4.67%
- 10Y*
- 6.85%
JNSGX
- 1D
- -0.69%
- 1M
- 3.89%
- YTD
- 9.44%
- 6M
- 10.07%
- 1Y
- 22.05%
- 3Y*
- 15.61%
- 5Y*
- 6.50%
- 10Y*
- 8.63%
JNSMX vs. JNSGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JNSMX Janus Henderson Global Allocation Fund - Moderate | 7.31% | 15.72% | 8.87% | 11.71% | -17.38% | 7.25% | 14.46% | 15.62% | -6.57% | 16.27% |
JNSGX Janus Henderson Global Allocation Fund - Growth | 9.44% | 18.68% | 11.17% | 13.71% | -17.82% | 10.38% | 14.54% | 19.94% | -8.20% | 19.73% |
Correlation
The correlation between JNSMX and JNSGX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2006 | 0.99 |
The correlation between JNSMX and JNSGX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
JNSMX vs. JNSGX — Risk / Return Rank
JNSMX
JNSGX
JNSMX vs. JNSGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Global Allocation Fund - Moderate (JNSMX) and Janus Henderson Global Allocation Fund - Growth (JNSGX). 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.
| JNSMX | JNSGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.39 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 2.68 | -0.06 |
| Martin ratioReturn relative to average drawdown | 11.41 | 11.74 | -0.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JNSMX | JNSGX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | 2.08 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.50 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | 0.65 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.45 | +0.06 |
Drawdowns
JNSMX vs. JNSGX - Drawdown Comparison
The maximum JNSMX drawdown since its inception was -39.85%, smaller than the maximum JNSGX drawdown of -50.39%. Use the drawdown chart below to compare losses from any high point for JNSMX and JNSGX.
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Drawdown Indicators
| JNSMX | JNSGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.85% | -50.39% | +10.54% |
Max Drawdown (1Y)Largest decline over 1 year | -7.00% | -8.48% | +1.48% |
Max Drawdown (3Y)Largest decline over 3 years | -10.60% | -13.70% | +3.10% |
Max Drawdown (5Y)Largest decline over 5 years | -25.15% | -26.30% | +1.15% |
Max Drawdown (10Y)Largest decline over 10 years | -25.15% | -29.47% | +4.32% |
Current DrawdownCurrent decline from peak | -0.62% | -0.69% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -5.93% | -8.02% | +2.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 1.93% | -0.33% |
Volatility
JNSMX vs. JNSGX - Volatility Comparison
The current volatility for Janus Henderson Global Allocation Fund - Moderate (JNSMX) is 3.22%, while Janus Henderson Global Allocation Fund - Growth (JNSGX) has a volatility of 3.76%. This indicates that JNSMX experiences smaller price fluctuations and is considered to be less risky than JNSGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JNSMX | JNSGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.22% | 3.76% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 7.28% | 8.98% | -1.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.74% | 10.90% | -2.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.46% | 13.04% | -2.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.19% | 13.23% | -3.04% |
JNSMX vs. JNSGX - Expense Ratio Comparison
JNSMX has a 0.25% expense ratio, which is lower than JNSGX's 0.26% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
JNSMX vs. JNSGX - Dividend Comparison
JNSMX's dividend yield for the trailing twelve months is around 5.50%, less than JNSGX's 6.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JNSGX Janus Henderson Global Allocation Fund - Growth | 6.11% | 6.68% | 9.20% | 1.46% | 4.67% | 16.70% | 4.75% | 7.16% | 5.35% | 6.43% | 2.55% | 10.31% |
JNSMX Janus Henderson Global Allocation Fund - Moderate | 5.50% | 5.90% | 4.28% | 1.53% | 2.96% | 13.36% | 4.49% | 5.72% | 4.86% | 7.24% | 1.87% | 9.16% |
Frequently Asked Questions
With a correlation of 0.99, JNSMX and JNSGX 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.
JNSGX has higher volatility (3.76%) compared to JNSMX (3.22%). In terms of maximum drawdown, JNSMX dropped -39.85% vs JNSGX's -50.39%.
JNSMX currently has the higher Sharpe Ratio (2.09 vs 2.08), 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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