JSMD vs. PAPPX
JSMD (Janus Henderson Small/Mid Cap Growth Alpha ETF) and PAPPX (Papp Small & Mid-Cap Growth Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, JSMD returned 12.80%/yr vs 8.40%/yr for PAPPX. Their correlation of 0.82 means they have usually moved in the same direction. JSMD charges 0.30%/yr vs 1.27%/yr for PAPPX.
Performance
JSMD vs. PAPPX - Performance Comparison
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Returns By Period
In the year-to-date period, JSMD achieves a 16.38% return, which is significantly higher than PAPPX's 3.55% return. Over the past 10 years, JSMD has outperformed PAPPX with an annualized return of 12.80%, while PAPPX has yielded a comparatively lower 8.40% annualized return.
JSMD
- 1D
- 2.28%
- 1M
- -3.09%
- 6M
- 10.51%
- YTD
- 16.38%
- 1Y
- 22.10%
- 3Y*
- 15.15%
- 5Y*
- 7.42%
- 10Y*
- 12.80%
- ALL TIME*
- 13.97%
PAPPX
- 1D
- -0.10%
- 1M
- -1.50%
- 6M
- 0.35%
- YTD
- 3.55%
- 1Y
- 3.26%
- 3Y*
- 4.28%
- 5Y*
- 0.06%
- 10Y*
- 8.40%
- ALL TIME*
- 9.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.51M | $7.19M | $7.86M | |
| $0.00 | $0.00 | $0.00 |
JSMD vs. PAPPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF | 16.38% | 9.25% | 15.08% | 26.81% | -22.84% | 8.40% | 30.79% | 31.05% | -4.73% | 24.46% |
PAPPX Papp Small & Mid-Cap Growth Fund | 3.55% | 4.72% | 2.64% | 11.49% | -22.71% | 14.71% | 24.74% | 34.77% | -3.03% | 25.79% |
Correlation
The correlation between JSMD and PAPPX is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.61 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.83 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2016 | 0.82 |
Over the past year, the correlation between JSMD and PAPPX has dropped to 0.61 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.
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Return for Risk
JSMD vs. PAPPX — Risk / Return Rank
JSMD
PAPPX
JSMD vs. PAPPX - 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 Papp Small & Mid-Cap Growth Fund (PAPPX). 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.
| JSMD | PAPPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.04 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 0.27 | +1.23 |
| Martin ratioReturn relative to average drawdown | 4.72 | 0.68 | +4.04 |
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Drawdowns
JSMD vs. PAPPX - Drawdown Comparison
The maximum JSMD drawdown since its inception was -38.98%, which is greater than PAPPX's maximum drawdown of -34.51%. Use the drawdown chart below to compare losses from any high point for JSMD and PAPPX.
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Drawdown Indicators
| JSMD | PAPPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.98% | -34.51% | -4.47% |
Max Drawdown (1Y)Largest decline over 1 year | -14.86% | -9.55% | -5.31% |
Max Drawdown (3Y)Largest decline over 3 years | -24.01% | -18.62% | -5.39% |
Max Drawdown (5Y)Largest decline over 5 years | -32.18% | -30.93% | -1.25% |
Max Drawdown (10Y)Largest decline over 10 years | -38.98% | -34.51% | -4.47% |
Current DrawdownCurrent decline from peak | -6.42% | -4.26% | -2.16% |
Average DrawdownAverage peak-to-trough decline | -7.42% | -6.53% | -0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.69% | 3.76% | +0.93% |
Volatility
JSMD vs. PAPPX - Volatility Comparison
Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) has a higher volatility of 6.57% compared to Papp Small & Mid-Cap Growth Fund (PAPPX) at 3.52%. This indicates that JSMD's price experiences larger fluctuations and is considered to be riskier than PAPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JSMD | PAPPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.57% | 3.52% | +3.05% |
Volatility (6M)Calculated over the trailing 6-month period | 17.87% | 9.85% | +8.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.59% | 13.76% | +8.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.15% | 17.54% | +5.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.87% | 18.68% | +4.19% |
JSMD vs. PAPPX - Expense Ratio Comparison
JSMD has a 0.30% expense ratio, which is lower than PAPPX's 1.27% expense ratio.
Dividends
JSMD vs. PAPPX - Dividend Comparison
JSMD's dividend yield for the trailing twelve months is around 0.43%, less than PAPPX's 3.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF | 0.43% | 0.54% | 0.76% | 0.44% | 0.40% | 0.28% | 0.24% | 0.32% | 0.53% | 0.30% | 0.36% | 0.00% |
PAPPX Papp Small & Mid-Cap Growth Fund | 3.04% | 3.15% | 0.00% | 0.00% | 0.00% | 5.68% | 2.19% | 2.97% | 3.03% | 8.33% | 0.00% | 2.46% |
Frequently Asked Questions
JSMD and PAPPX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JSMD has higher volatility (6.57%) compared to PAPPX (3.52%). In terms of maximum drawdown, JSMD dropped -38.98% vs PAPPX's -34.51%.
JSMD currently has the higher Sharpe Ratio (0.98 vs 0.19), 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.
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