JRSIX vs. VSMPX

Last updated Jul 3, 2026

JRSIX (Janus Henderson Adaptive Risk Managed U.S. Equity Fund) and VSMPX (Vanguard Total Stock Market Index Fund Institutional Plus Shares) are both Large Cap Blend Equities funds. Over the past 10 years, JRSIX returned 11.27%/yr vs 14.99%/yr for VSMPX. Their correlation of 0.90 suggests significant overlap in exposure. JRSIX charges 0.67%/yr vs 0.02%/yr for VSMPX.

Performance

JRSIX vs. VSMPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Adaptive Risk Managed U.S. Equity Fund (JRSIX) and Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JRSIX achieves a 5.90% return, which is significantly lower than VSMPX's 10.79% return. Over the past 10 years, JRSIX has underperformed VSMPX with an annualized return of 11.27%, while VSMPX has yielded a comparatively higher 14.99% annualized return.

JRSIX

• 1D: -0.31%
• 1M: -1.97%
• 6M: 5.90%
• YTD: 5.90%
• 1Y: 15.16%
• 3Y*: 16.71%
• 5Y*: 10.33%
• 10Y*: 11.27%

VSMPX

• 1D: -0.25%
• 1M: -1.07%
• 6M: 10.79%
• YTD: 10.79%
• 1Y: 22.26%
• 3Y*: 20.33%
• 5Y*: 11.96%
• 10Y*: 14.99%

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

JRSIX vs. VSMPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JRSIX Janus Henderson Adaptive Risk Managed U.S. Equity Fund	5.90%	13.42%	26.89%	15.37%	-14.15%	19.83%	12.78%	23.51%	-3.68%	20.55%
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	10.79%	17.15%	23.26%	26.53%	-19.50%	25.74%	21.01%	30.79%	-5.16%	21.19%

Correlation

The correlation between JRSIX and VSMPX is 0.95 - 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.90

The correlation between JRSIX and VSMPX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

Return for Risk

JRSIX vs. VSMPX — Risk / Return Rank

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

JRSIX

JRSIX Risk / Return Rank: 33
JRSIX Sharpe Ratio Rank: 32
JRSIX Sortino Ratio Rank: 31
JRSIX Omega Ratio Rank: 31
JRSIX Calmar Ratio Rank: 30
JRSIX Martin Ratio Rank: 41

VSMPX

VSMPX Risk / Return Rank: 61
VSMPX Sharpe Ratio Rank: 58
VSMPX Sortino Ratio Rank: 54
VSMPX Omega Ratio Rank: 54
VSMPX Calmar Ratio Rank: 64
VSMPX Martin Ratio Rank: 75

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.

JRSIX vs. VSMPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Adaptive Risk Managed U.S. Equity Fund (JRSIX) and Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX). 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.

	JRSIX	VSMPX	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.79	-0.52
Sortino ratio: Return per unit of downside risk	1.81	2.46	-0.65
Omega ratio: Gain probability vs. loss probability	1.23	1.32	-0.09
Calmar ratio: Return relative to maximum drawdown	1.60	2.58	-0.98
Martin ratio: Return relative to average drawdown	7.06	11.36	-4.30

JRSIX vs. VSMPX - Sharpe Ratio Comparison

The current JRSIX Sharpe Ratio is 1.27, which is comparable to the VSMPX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of JRSIX and VSMPX, 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

JRSIX vs. VSMPX - Drawdown Comparison

The maximum JRSIX drawdown since its inception was -56.71%, which is greater than VSMPX's maximum drawdown of -34.97%. Use the drawdown chart below to compare losses from any high point for JRSIX and VSMPX.

Drawdown Indicators

	JRSIX	VSMPX	Difference
Max Drawdown Largest peak-to-trough decline	-56.71%	-34.97%	-21.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-8.92%	-0.90%
Max Drawdown (3Y) Largest decline over 3 years	-18.20%	-19.36%	+1.16%
Max Drawdown (5Y) Largest decline over 5 years	-22.60%	-25.35%	+2.75%
Max Drawdown (10Y) Largest decline over 10 years	-37.24%	-34.97%	-2.27%
Current Drawdown Current decline from peak	-2.64%	-1.07%	-1.57%
Average Drawdown Average peak-to-trough decline	-7.54%	-4.57%	-2.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	2.02%	+0.20%

Volatility

JRSIX vs. VSMPX - Volatility Comparison

The current volatility for Janus Henderson Adaptive Risk Managed U.S. Equity Fund (JRSIX) is 4.66%, while Vanguard Total Stock Market Index Fund Institutional Plus Shares (VSMPX) has a volatility of 5.06%. This indicates that JRSIX experiences smaller price fluctuations and is considered to be less risky than VSMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRSIX	VSMPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.66%	5.06%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	10.15%	10.14%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	12.33%	12.85%	-0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.61%	17.47%	-1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.23%	18.39%	-1.16%

JRSIX vs. VSMPX - Expense Ratio Comparison

JRSIX has a 0.67% expense ratio, which is higher than VSMPX's 0.02% expense ratio.

Dividends

JRSIX vs. VSMPX - Dividend Comparison

JRSIX's dividend yield for the trailing twelve months is around 9.52%, more than VSMPX's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JRSIX Janus Henderson Adaptive Risk Managed U.S. Equity Fund	9.52%	10.08%	6.63%	3.76%	2.56%	29.82%	12.97%	3.25%	8.38%	6.00%	1.48%	15.40%
VSMPX Vanguard Total Stock Market Index Fund Institutional Plus Shares	1.07%	1.13%	1.27%	1.43%	1.67%	1.22%	1.43%	1.78%	2.05%	1.73%	1.95%	0.00%

Frequently Asked Questions

Can I hold both JRSIX and VSMPX in my portfolio?

With a correlation of 0.95, JRSIX and VSMPX 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, JRSIX or VSMPX?

VSMPX has higher volatility (5.06%) compared to JRSIX (4.66%). In terms of maximum drawdown, JRSIX dropped -56.71% vs VSMPX's -34.97%.

Which has better risk-adjusted returns?

VSMPX currently has the higher Sharpe Ratio (1.79 vs 1.27), 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.