JSI vs. USMV

Last updated Jun 4, 2026

JSI (Janus Henderson Securitized Income ETF) and USMV (iShares MSCI USA Minimum Volatility Factor ETF) are both exchange-traded funds - JSI is a Short-Term Bond fund actively managed by Janus Henderson, while USMV is a Large Cap Blend Equities fund tracking the MSCI USA Minimum Volatility Index. JSI is actively managed, while USMV is passively managed. Over the past year, JSI returned 4.72% vs 4.37% for USMV. At a 0.20 correlation, their price movements are largely independent. JSI charges 0.50%/yr vs 0.15%/yr for USMV.

Performance

JSI vs. USMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Securitized Income ETF (JSI) and iShares MSCI USA Minimum Volatility Factor ETF (USMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JSI achieves a 0.99% return, which is significantly lower than USMV's 2.65% return.

JSI

• 1D: -0.12%
• 1M: 0.24%
• YTD: 0.99%
• 6M: 1.47%
• 1Y: 4.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USMV

• 1D: -0.69%
• 1M: 2.01%
• YTD: 2.65%
• 6M: 2.61%
• 1Y: 4.37%
• 3Y*: 11.79%
• 5Y*: 7.45%
• 10Y*: 9.93%

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

JSI vs. USMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JSI Janus Henderson Securitized Income ETF	0.99%	6.46%	7.27%	3.39%
USMV iShares MSCI USA Minimum Volatility Factor ETF	2.65%	7.65%	15.74%	7.06%

Correlation

The correlation between JSI and USMV is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (All Time) Calculated using the full available price history since Nov 10, 2023	0.20

JSI vs. USMV - Sectors Allocation Comparison

Sectors	JSI	USMV
Technology	33.5%	30.8%
Financial Services	12.4%	12.4%
Communication Services	10.5%	5.9%
Consumer Cyclical	10.0%	5.7%
Healthcare	9.5%	12.5%
Industrials	8.5%	5.7%
Consumer Defensive	5.3%	10.0%
Energy	4.0%	3.6%
Utilities	2.6%	7.5%
Real Estate	2.0%	2.2%
Basic Materials	1.9%	2.2%

Return for Risk

JSI vs. USMV — Risk / Return Rank

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

JSI

JSI Risk / Return Rank: 58
JSI Sharpe Ratio Rank: 58
JSI Sortino Ratio Rank: 57
JSI Omega Ratio Rank: 67
JSI Calmar Ratio Rank: 56
JSI Martin Ratio Rank: 53

USMV

USMV Risk / Return Rank: 17
USMV Sharpe Ratio Rank: 16
USMV Sortino Ratio Rank: 16
USMV Omega Ratio Rank: 15
USMV Calmar Ratio Rank: 17
USMV Martin Ratio Rank: 19

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.

JSI vs. USMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Securitized Income ETF (JSI) and iShares MSCI USA Minimum Volatility Factor ETF (USMV). 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.

	JSI	USMV	Difference
Sharpe ratio Return per unit of total volatility	1.99	0.52	+1.48
Sortino ratio Return per unit of downside risk	2.77	0.79	+1.99
Omega ratio Gain probability vs. loss probability	1.41	1.09	+0.32
Calmar ratio Return relative to maximum drawdown	2.82	0.68	+2.14
Martin ratio Return relative to average drawdown	9.18	2.27	+6.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JSI vs. USMV - Sharpe Ratio Comparison

The current JSI Sharpe Ratio is 1.99, which is higher than the USMV Sharpe Ratio of 0.52. The chart below compares the historical Sharpe Ratios of JSI and USMV, 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

	JSI	USMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	0.52	+1.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.49	0.87	+1.62

Drawdowns

JSI vs. USMV - Drawdown Comparison

The maximum JSI drawdown since its inception was -2.31%, smaller than the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for JSI and USMV.

Drawdown Indicators

	JSI	USMV	Difference
Max Drawdown Largest peak-to-trough decline	-2.31%	-33.10%	+30.79%
Max Drawdown (1Y) Largest decline over 1 year	-1.68%	-6.46%	+4.78%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.10%	—
Current Drawdown Current decline from peak	-0.46%	-1.18%	+0.72%
Average Drawdown Average peak-to-trough decline	-0.34%	-2.88%	+2.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	1.93%	-1.41%

Volatility

JSI vs. USMV - Volatility Comparison

The current volatility for Janus Henderson Securitized Income ETF (JSI) is 0.66%, while iShares MSCI USA Minimum Volatility Factor ETF (USMV) has a volatility of 2.38%. This indicates that JSI experiences smaller price fluctuations and is considered to be less risky than USMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JSI	USMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	2.38%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	1.53%	5.91%	-4.38%
Volatility (1Y) Calculated over the trailing 1-year period	2.38%	8.50%	-6.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.88%	12.35%	-9.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.88%	14.51%	-11.63%

JSI vs. USMV - Expense Ratio Comparison

JSI has a 0.50% expense ratio, which is higher than USMV's 0.15% expense ratio.

Dividends

JSI vs. USMV - Dividend Comparison

JSI's dividend yield for the trailing twelve months is around 5.80%, more than USMV's 1.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JSI Janus Henderson Securitized Income ETF	5.80%	5.80%	6.16%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USMV iShares MSCI USA Minimum Volatility Factor ETF	1.53%	1.49%	1.67%	1.82%	1.62%	1.26%	1.81%	1.88%	2.12%	1.77%	2.22%	2.02%

Frequently Asked Questions

Can I hold both JSI and USMV in my portfolio?

JSI and USMV have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JSI or USMV?

USMV has higher volatility (2.38%) compared to JSI (0.66%). In terms of maximum drawdown, JSI dropped -2.31% vs USMV's -33.10%.

Which ETF is better, JSI or USMV?

On 1-year performance, JSI leads with 4.72% vs 4.37% for USMV. On fees, USMV is cheaper at 0.15% per year. On volatility, JSI has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JSI or USMV?

Over the 1-year period, JSI has performed better with a 4.72% return vs 4.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JSI or USMV?

USMV is cheaper with a 0.15% expense ratio, compared with 0.50% for JSI.

Which ETF pays a higher dividend yield, JSI or USMV?

JSI has the higher dividend yield at 5.80%, compared with 1.53% for USMV.

What is the main difference between JSI and USMV?

JSI is categorized as Short-Term Bond, while USMV is Large Cap Blend Equities. They also come from different issuers: Janus Henderson and iShares. Their fees differ too: 0.50% for JSI and 0.15% for USMV.

Which has better risk-adjusted returns?

JSI currently has the higher Sharpe Ratio (1.99 vs 0.52), 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.