JRE vs. JIII

Last updated Jun 5, 2026

JRE (Janus Henderson U.S. Real Estate ETF) and JIII (Janus Henderson Income ETF) are both exchange-traded funds - JRE is a fund fund actively managed by Janus Henderson, while JIII is a Multisector Bonds fund actively managed by Janus Henderson. Both are actively managed. Over the past year, JRE returned 15.89% vs 6.54% for JIII. At a 0.38 correlation, their price movements are largely independent. JRE charges 0.65%/yr vs 0.54%/yr for JIII.

Performance

JRE vs. JIII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson U.S. Real Estate ETF (JRE) and Janus Henderson Income ETF (JIII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JRE achieves a 13.17% return, which is significantly higher than JIII's 1.19% return.

JRE

• 1D: 0.87%
• 1M: -0.63%
• YTD: 13.17%
• 6M: 12.26%
• 1Y: 15.89%
• 3Y*: 10.22%
• 5Y*: —
• 10Y*: —

JIII

• 1D: 0.16%
• 1M: 0.35%
• YTD: 1.19%
• 6M: 1.66%
• 1Y: 6.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JRE vs. JIII - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JRE Janus Henderson U.S. Real Estate ETF	13.17%	2.97%	-4.15%
JIII Janus Henderson Income ETF	1.19%	8.28%	0.54%

Correlation

The correlation between JRE and JIII is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (All Time) Calculated using the full available price history since Nov 14, 2024	0.38

JRE vs. JIII - Sectors Allocation Comparison

Sectors	JRE	JIII
Real Estate	95.9%	0.2%
Consumer Cyclical	4.1%	13.1%
Basic Materials	-	0.1%
Communication Services	-	0.8%
Consumer Defensive	-	0.4%
Energy	-	29.9%
Financial Services	-	20.2%
Healthcare	-	32.0%
Industrials	-	0.6%
Technology	-	2.5%
Utilities	-	0.2%

Return for Risk

JRE vs. JIII — Risk / Return Rank

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

JRE

JRE Risk / Return Rank: 38
JRE Sharpe Ratio Rank: 34
JRE Sortino Ratio Rank: 32
JRE Omega Ratio Rank: 33
JRE Calmar Ratio Rank: 46
JRE Martin Ratio Rank: 43

JIII

JIII Risk / Return Rank: 59
JIII Sharpe Ratio Rank: 55
JIII Sortino Ratio Rank: 59
JIII Omega Ratio Rank: 62
JIII Calmar Ratio Rank: 59
JIII Martin Ratio Rank: 62

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.

JRE vs. JIII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson U.S. Real Estate ETF (JRE) and Janus Henderson Income ETF (JIII). 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.

	JRE	JIII	Difference
Sharpe ratio: Return per unit of total volatility	1.21	1.85	-0.64
Sortino ratio: Return per unit of downside risk	1.67	2.74	-1.06
Omega ratio: Gain probability vs. loss probability	1.22	1.37	-0.15
Calmar ratio: Return relative to maximum drawdown	2.23	2.89	-0.66
Martin ratio: Return relative to average drawdown	6.92	10.97	-4.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JRE vs. JIII - Sharpe Ratio Comparison

The current JRE Sharpe Ratio is 1.21, which is lower than the JIII Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of JRE and JIII, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JRE	JIII	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	1.85	-0.64
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	1.64	-1.43

Drawdowns

JRE vs. JIII - Drawdown Comparison

The maximum JRE drawdown since its inception was -31.69%, which is greater than JIII's maximum drawdown of -3.55%. Use the drawdown chart below to compare losses from any high point for JRE and JIII.

Drawdown Indicators

	JRE	JIII	Difference
Max Drawdown Largest peak-to-trough decline	-31.69%	-3.55%	-28.14%
Max Drawdown (1Y) Largest decline over 1 year	-7.14%	-2.27%	-4.87%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	—	—
Current Drawdown Current decline from peak	-2.51%	-0.14%	-2.37%
Average Drawdown Average peak-to-trough decline	-12.62%	-0.50%	-12.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	0.60%	+1.70%

Volatility

JRE vs. JIII - Volatility Comparison

Janus Henderson U.S. Real Estate ETF (JRE) has a higher volatility of 4.30% compared to Janus Henderson Income ETF (JIII) at 1.29%. This indicates that JRE's price experiences larger fluctuations and is considered to be riskier than JIII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRE	JIII	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.30%	1.29%	+3.01%
Volatility (6M) Calculated over the trailing 6-month period	9.44%	2.65%	+6.79%
Volatility (1Y) Calculated over the trailing 1-year period	13.18%	3.56%	+9.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.71%	3.96%	+14.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.71%	3.96%	+14.75%

JRE vs. JIII - Expense Ratio Comparison

JRE has a 0.65% expense ratio, which is higher than JIII's 0.54% expense ratio.

Dividends

JRE vs. JIII - Dividend Comparison

JRE's dividend yield for the trailing twelve months is around 4.99%, less than JIII's 7.43% yield.

Position	TTM	2025	2024	2023	2022	2021
JIII Janus Henderson Income ETF	7.43%	7.33%	0.44%	0.00%	0.00%	0.00%
JRE Janus Henderson U.S. Real Estate ETF	4.99%	5.81%	2.20%	2.77%	2.87%	0.90%

Frequently Asked Questions

Can I hold both JRE and JIII in my portfolio?

JRE and JIII have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JRE or JIII?

JRE has higher volatility (4.30%) compared to JIII (1.29%). In terms of maximum drawdown, JRE dropped -31.69% vs JIII's -3.55%.

Which ETF is better, JRE or JIII?

On 1-year performance, JRE leads with 15.89% vs 6.54% for JIII. On fees, JIII is cheaper at 0.54% per year. On volatility, JIII has been the lower-risk option at 1.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JRE or JIII?

Over the 1-year period, JRE has performed better with a 15.89% return vs 6.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JRE or JIII?

JIII is cheaper with a 0.54% expense ratio, compared with 0.65% for JRE.

Which ETF pays a higher dividend yield, JRE or JIII?

JIII has the higher dividend yield at 7.43%, compared with 4.99% for JRE.

What is the main difference between JRE and JIII?

Their fees differ too: 0.65% for JRE and 0.54% for JIII.

Which has better risk-adjusted returns?

JIII currently has the higher Sharpe Ratio (1.85 vs 1.21), 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.