JSMD vs. QMID

Last updated Aug 4, 2026

JSMD (Janus Henderson Small/Mid Cap Growth Alpha ETF) and QMID (WisdomTree U.S. MidCap Quality Growth Fund) are both exchange-traded funds - JSMD is a Mid Cap Growth Equities fund tracking the Janus Small Mid Cap Growth Alpha Index, while QMID is a Quality Factor fund tracking the WisdomTree U.S. MidCap Quality Growth Index. Both are passively managed. Over the past year, JSMD returned 22.10% vs 11.77% for QMID. Their correlation of 0.86 means they have usually moved in the same direction. JSMD charges 0.30%/yr vs 0.38%/yr for QMID.

Performance

JSMD vs. QMID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) and WisdomTree U.S. MidCap Quality Growth Fund (QMID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JSMD achieves a 16.38% return, which is significantly higher than QMID's 6.68% 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%

QMID

• 1D: 1.23%
• 1M: 2.20%
• 6M: 5.40%
• YTD: 6.68%
• 1Y: 11.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	$5.51M	$7.19M	$7.86M
QMID WisdomTree U.S. MidCap Quality Growth Fund	$4.36K	$13.04K	$31.17K

JSMD vs. QMID - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	16.38%	9.25%	17.06%
QMID WisdomTree U.S. MidCap Quality Growth Fund	6.68%	5.02%	9.01%

Correlation

The correlation between JSMD and QMID is 0.77, 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.	0.77
Correlation (All Time) Calculated using the full available price history since Jan 25, 2024	0.86

The correlation between JSMD and QMID has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.

JSMD vs. QMID - Sectors Allocation Comparison

Sectors	JSMD	QMID
Technology	27.7%	17.2%
Industrials	22.1%	19.9%
Healthcare	20.3%	17.9%
Financial Services	9.3%	13.2%
Consumer Cyclical	9.0%	19.3%
Real Estate	2.9%	-
Communication Services	2.7%	4.6%
Basic Materials	2.6%	0.6%
Consumer Defensive	2.4%	4.4%
Energy	1.0%	3.0%
Utilities	-	-

Return for Risk

JSMD vs. QMID — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JSMD

JSMD Risk / Return Rank: 39
JSMD Sharpe Ratio Rank: 38
JSMD Sortino Ratio Rank: 38
JSMD Omega Ratio Rank: 36
JSMD Calmar Ratio Rank: 41
JSMD Martin Ratio Rank: 42

QMID

QMID Risk / Return Rank: 32
QMID Sharpe Ratio Rank: 31
QMID Sortino Ratio Rank: 32
QMID Omega Ratio Rank: 29
QMID Calmar Ratio Rank: 32
QMID Martin Ratio Rank: 36

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JSMD vs. QMID - 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 WisdomTree U.S. MidCap Quality Growth Fund (QMID). 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	QMID	Difference
Sharpe ratio: Return per unit of total volatility	0.98	0.79	+0.20
Sortino ratio: Return per unit of downside risk	1.49	1.25	+0.24
Omega ratio: Gain probability vs. loss probability	1.18	1.14	+0.04
Calmar ratio: Return relative to maximum drawdown	1.49	1.11	+0.39
Martin ratio: Return relative to average drawdown	4.72	3.75	+0.97

JSMD vs. QMID - Sharpe Ratio Comparison

The current JSMD Sharpe Ratio is 0.98, which is comparable to the QMID Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of JSMD and QMID, 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

JSMD vs. QMID - Drawdown Comparison

The maximum JSMD drawdown since its inception was -38.98%, which is greater than QMID's maximum drawdown of -24.42%. Use the drawdown chart below to compare losses from any high point for JSMD and QMID.

Drawdown Indicators

	JSMD	QMID	Difference
Max Drawdown Largest peak-to-trough decline	-38.98%	-24.42%	-14.56%
Max Drawdown (1Y) Largest decline over 1 year	-14.86%	-10.67%	-4.19%
Max Drawdown (3Y) Largest decline over 3 years	-24.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.98%	—	—
Current Drawdown Current decline from peak	-6.42%	-0.12%	-6.30%
Average Drawdown Average peak-to-trough decline	-7.42%	-5.21%	-2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.69%	3.14%	+1.55%

Volatility

JSMD vs. QMID - Volatility Comparison

Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) has a higher volatility of 6.57% compared to WisdomTree U.S. MidCap Quality Growth Fund (QMID) at 3.94%. This indicates that JSMD's price experiences larger fluctuations and is considered to be riskier than QMID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JSMD	QMID	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	3.94%	+2.63%
Volatility (6M) Calculated over the trailing 6-month period	17.87%	10.89%	+6.98%
Volatility (1Y) Calculated over the trailing 1-year period	22.59%	15.08%	+7.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.15%	18.24%	+4.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.87%	18.24%	+4.63%

JSMD vs. QMID - Expense Ratio Comparison

JSMD has a 0.30% expense ratio, which is lower than QMID's 0.38% expense ratio.

Dividends

JSMD vs. QMID - Dividend Comparison

JSMD's dividend yield for the trailing twelve months is around 0.43%, less than QMID's 0.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
QMID WisdomTree U.S. MidCap Quality Growth Fund	0.48%	0.51%	1.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JSMD and QMID in my portfolio?

JSMD and QMID have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JSMD or QMID?

JSMD has higher volatility (6.57%) compared to QMID (3.94%). In terms of maximum drawdown, JSMD dropped -38.98% vs QMID's -24.42%.

Which ETF is better, JSMD or QMID?

On 1-year performance, JSMD leads with 22.10% vs 11.77% for QMID. On fees, JSMD is cheaper at 0.30% per year. On volatility, QMID has been the lower-risk option at 3.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JSMD or QMID?

Over the 1-year period, JSMD has performed better with a 22.10% return vs 11.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JSMD or QMID?

JSMD is cheaper with a 0.30% expense ratio, compared with 0.38% for QMID.

Which ETF pays a higher dividend yield, JSMD or QMID?

QMID has the higher dividend yield at 0.48%, compared with 0.43% for JSMD.

What is the main difference between JSMD and QMID?

JSMD is categorized as Mid Cap Growth Equities, while QMID is Quality Factor. JSMD tracks Janus Small Mid Cap Growth Alpha Index, while QMID tracks WisdomTree U.S. MidCap Quality Growth Index. They also come from different issuers: Janus Henderson and WisdomTree. Their fees differ too: 0.30% for JSMD and 0.38% for QMID.

Which has better risk-adjusted returns?

JSMD currently has the higher Sharpe Ratio (0.98 vs 0.79), 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.