JORNX vs. JANEX

Last updated Jul 25, 2026

JORNX (Janus Henderson Global Select Fund Class T) and JANEX (Janus Henderson Enterprise Fund) are both mutual funds - JORNX is a Global Equities fund actively managed by Janus Henderson, while JANEX is a Mid Cap Growth Equities fund managed by Janus Henderson. Over the past 10 years, JORNX returned 12.83%/yr vs 12.34%/yr for JANEX. Their correlation of 0.88 suggests significant overlap in exposure. JORNX charges 0.93%/yr vs 0.79%/yr for JANEX.

Performance

JORNX vs. JANEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Global Select Fund Class T (JORNX) and Janus Henderson Enterprise Fund (JANEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JORNX achieves a 7.68% return, which is significantly higher than JANEX's 7.06% return. Both investments have delivered pretty close results over the past 10 years, with JORNX having a 12.83% annualized return and JANEX not far behind at 12.34%.

JORNX

• 1D: -0.43%
• 1M: 0.14%
• 6M: 3.06%
• YTD: 7.68%
• 1Y: 13.39%
• 3Y*: 16.78%
• 5Y*: 10.25%
• 10Y*: 12.83%
• ALL TIME*: 5.96%

JANEX

• 1D: -0.04%
• 1M: 0.17%
• 6M: 4.64%
• YTD: 7.06%
• 1Y: 9.33%
• 3Y*: 10.70%
• 5Y*: 6.68%
• 10Y*: 12.34%
• ALL TIME*: 9.85%

*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)
JANEX Janus Henderson Enterprise Fund	$0.00	$0.00	$0.00
JORNX Janus Henderson Global Select Fund Class T	$0.00	$0.00	$0.00

JORNX vs. JANEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JORNX Janus Henderson Global Select Fund Class T	7.68%	19.35%	17.10%	17.36%	-10.02%	15.82%	16.05%	27.34%	-9.86%	31.06%
JANEX Janus Henderson Enterprise Fund	7.06%	7.64%	15.25%	17.99%	-16.03%	17.02%	20.38%	35.22%	-0.95%	26.36%

Correlation

The correlation between JORNX and JANEX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jun 30, 2000	0.88

The correlation between JORNX and JANEX shifts across timeframes, from 0.71 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JORNX vs. JANEX — Risk / Return Rank

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

JORNX

JORNX Risk / Return Rank: 33
JORNX Sharpe Ratio Rank: 31
JORNX Sortino Ratio Rank: 31
JORNX Omega Ratio Rank: 32
JORNX Calmar Ratio Rank: 32
JORNX Martin Ratio Rank: 40

JANEX

JANEX Risk / Return Rank: 15
JANEX Sharpe Ratio Rank: 14
JANEX Sortino Ratio Rank: 15
JANEX Omega Ratio Rank: 14
JANEX Calmar Ratio Rank: 15
JANEX Martin Ratio Rank: 18

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.

JORNX vs. JANEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Global Select Fund Class T (JORNX) and Janus Henderson Enterprise Fund (JANEX). 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.

	JORNX	JANEX	Difference
Sharpe ratio: Return per unit of total volatility	1.01	0.64	+0.37
Sortino ratio: Return per unit of downside risk	1.47	1.02	+0.45
Omega ratio: Gain probability vs. loss probability	1.19	1.12	+0.07
Calmar ratio: Return relative to maximum drawdown	1.38	0.81	+0.57
Martin ratio: Return relative to average drawdown	5.78	2.79	+2.99

JORNX vs. JANEX - Sharpe Ratio Comparison

The current JORNX Sharpe Ratio is 1.01, which is higher than the JANEX Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of JORNX and JANEX, 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

JORNX vs. JANEX - Drawdown Comparison

The maximum JORNX drawdown since its inception was -63.94%, smaller than the maximum JANEX drawdown of -79.85%. Use the drawdown chart below to compare losses from any high point for JORNX and JANEX.

Drawdown Indicators

	JORNX	JANEX	Difference
Max Drawdown Largest peak-to-trough decline	-63.94%	-79.85%	+15.91%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-11.40%	+1.76%
Max Drawdown (3Y) Largest decline over 3 years	-19.61%	-19.57%	-0.04%
Max Drawdown (5Y) Largest decline over 5 years	-23.54%	-24.24%	+0.70%
Max Drawdown (10Y) Largest decline over 10 years	-39.15%	-38.24%	-0.91%
Current Drawdown Current decline from peak	-2.56%	-2.03%	-0.53%
Average Drawdown Average peak-to-trough decline	-17.44%	-25.01%	+7.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	3.29%	-0.99%

Volatility

JORNX vs. JANEX - Volatility Comparison

Janus Henderson Global Select Fund Class T (JORNX) has a higher volatility of 4.17% compared to Janus Henderson Enterprise Fund (JANEX) at 3.44%. This indicates that JORNX's price experiences larger fluctuations and is considered to be riskier than JANEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JORNX	JANEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	3.44%	+0.73%
Volatility (6M) Calculated over the trailing 6-month period	11.35%	11.25%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	13.18%	14.32%	-1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.31%	17.72%	-1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.89%	18.68%	-0.79%

JORNX vs. JANEX - Expense Ratio Comparison

JORNX has a 0.93% expense ratio, which is higher than JANEX's 0.79% expense ratio.

Dividends

JORNX vs. JANEX - Dividend Comparison

JORNX's dividend yield for the trailing twelve months is around 9.85%, more than JANEX's 7.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JANEX Janus Henderson Enterprise Fund	7.02%	7.51%	7.00%	7.52%	10.51%	15.98%	8.46%	4.45%	6.38%	1.78%	1.64%	3.64%
JORNX Janus Henderson Global Select Fund Class T	9.85%	10.60%	10.29%	8.53%	2.69%	12.92%	5.06%	4.28%	16.93%	0.82%	1.08%	1.02%

Frequently Asked Questions

Can I hold both JORNX and JANEX in my portfolio?

JORNX and JANEX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JORNX or JANEX?

JORNX has higher volatility (4.17%) compared to JANEX (3.44%). In terms of maximum drawdown, JORNX dropped -63.94% vs JANEX's -79.85%.

Which has better risk-adjusted returns?

JORNX currently has the higher Sharpe Ratio (1.01 vs 0.64), 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.