JSMD vs. JAAA
Compare and contrast key facts about Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) and Janus Henderson AAA CLO ETF (JAAA).
JSMD and JAAA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JSMD is a passively managed fund by Janus Henderson that tracks the performance of the Janus Small Mid Cap Growth Alpha Index. It was launched on Feb 25, 2016. JAAA is an actively managed fund by Janus Henderson. It was launched on Oct 16, 2020.
Performance
JSMD vs. JAAA - Performance Comparison
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JSMD vs. JAAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF | -1.44% | 9.25% | 15.08% | 26.81% | -22.84% | 8.40% | 13.89% |
JAAA Janus Henderson AAA CLO ETF | 0.73% | 5.16% | 7.43% | 8.59% | 0.49% | 1.39% | 0.79% |
Returns By Period
In the year-to-date period, JSMD achieves a -1.44% return, which is significantly lower than JAAA's 0.73% return.
JSMD
- 1D
- 1.20%
- 1M
- -5.91%
- YTD
- -1.44%
- 6M
- -3.30%
- 1Y
- 15.48%
- 3Y*
- 13.34%
- 5Y*
- 3.93%
- 10Y*
- 12.00%
JAAA
- 1D
- 0.00%
- 1M
- 0.26%
- YTD
- 0.73%
- 6M
- 2.02%
- 1Y
- 4.95%
- 3Y*
- 6.82%
- 5Y*
- 4.57%
- 10Y*
- —
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JSMD vs. JAAA - Expense Ratio Comparison
JSMD has a 0.30% expense ratio, which is higher than JAAA's 0.21% expense ratio.
Return for Risk
JSMD vs. JAAA — Risk / Return Rank
JSMD
JAAA
JSMD vs. JAAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) and Janus Henderson AAA CLO ETF (JAAA). 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.
| JSMD | JAAA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.63 | 2.75 | -2.12 |
Sortino ratioReturn per unit of downside risk | 1.04 | 3.53 | -2.49 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.90 | -0.76 |
Calmar ratioReturn relative to maximum drawdown | 1.04 | 3.45 | -2.41 |
Martin ratioReturn relative to average drawdown | 3.34 | 24.01 | -20.67 |
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
| JSMD | JAAA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 2.75 | -2.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 2.71 | -2.54 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 2.69 | -2.13 |
Correlation
The correlation between JSMD and JAAA is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
JSMD vs. JAAA - Dividend Comparison
JSMD's dividend yield for the trailing twelve months is around 0.56%, less than JAAA's 5.15% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF | 0.56% | 0.54% | 0.76% | 0.44% | 0.40% | 0.28% | 0.24% | 0.32% | 0.53% | 0.30% | 0.36% |
JAAA Janus Henderson AAA CLO ETF | 5.15% | 5.30% | 6.35% | 6.11% | 2.74% | 1.21% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
JSMD vs. JAAA - Drawdown Comparison
The maximum JSMD drawdown since its inception was -38.98%, which is greater than JAAA's maximum drawdown of -2.64%. Use the drawdown chart below to compare losses from any high point for JSMD and JAAA.
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Drawdown Indicators
| JSMD | JAAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.98% | -2.64% | -36.34% |
Max Drawdown (1Y)Largest decline over 1 year | -14.86% | -1.46% | -13.40% |
Max Drawdown (5Y)Largest decline over 5 years | -32.18% | -2.64% | -29.54% |
Max Drawdown (10Y)Largest decline over 10 years | -38.98% | — | — |
Current DrawdownCurrent decline from peak | -9.46% | -0.03% | -9.43% |
Average DrawdownAverage peak-to-trough decline | -7.58% | -0.26% | -7.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.60% | 0.21% | +4.39% |
Volatility
JSMD vs. JAAA - Volatility Comparison
Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) has a higher volatility of 9.64% compared to Janus Henderson AAA CLO ETF (JAAA) at 0.41%. This indicates that JSMD's price experiences larger fluctuations and is considered to be riskier than JAAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JSMD | JAAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.64% | 0.41% | +9.23% |
Volatility (6M)Calculated over the trailing 6-month period | 16.72% | 0.68% | +16.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.53% | 1.81% | +22.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.67% | 1.69% | +20.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.64% | 1.67% | +20.97% |