JSMD vs. TEKX

Last updated Aug 4, 2026

JSMD (Janus Henderson Small/Mid Cap Growth Alpha ETF) and TEKX (SPDR Galaxy Transformative Tech Accelerators ETF) are both Mid Cap Growth Equities funds. JSMD is passively managed, while TEKX is actively managed. Over the past year, JSMD returned 22.10% vs 113.52% for TEKX. Their 0.71 correlation means they have sometimes moved together and sometimes differently. JSMD charges 0.30%/yr vs 0.65%/yr for TEKX.

Performance

JSMD vs. TEKX - 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 SPDR Galaxy Transformative Tech Accelerators ETF (TEKX). 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 lower than TEKX's 69.56% 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%

TEKX

• 1D: 4.27%
• 1M: -0.38%
• 6M: 50.46%
• YTD: 69.56%
• 1Y: 113.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 71.27%

*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
TEKX SPDR Galaxy Transformative Tech Accelerators ETF	$316.30K	$287.22K	$382.89K

JSMD vs. TEKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	16.38%	9.25%	12.36%
TEKX SPDR Galaxy Transformative Tech Accelerators ETF	69.56%	40.92%	16.00%

Correlation

The correlation between JSMD and TEKX is 0.75, 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.	0.75
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024	0.71

The correlation between JSMD and TEKX has been stable across timeframes, ranging from 0.71 to 0.75 - a consistent structural relationship.

JSMD vs. TEKX - Sectors Allocation Comparison

Sectors	JSMD	TEKX
Technology	27.7%	38.7%
Industrials	22.1%	18.4%
Healthcare	20.3%	-
Financial Services	9.3%	25.5%
Consumer Cyclical	9.0%	1.5%
Real Estate	2.9%	-
Communication Services	2.7%	1.7%
Basic Materials	2.6%	4.3%
Consumer Defensive	2.4%	1.3%
Energy	1.0%	1.7%
Utilities	-	11.5%

Return for Risk

JSMD vs. TEKX — 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

TEKX

TEKX Risk / Return Rank: 92
TEKX Sharpe Ratio Rank: 94
TEKX Sortino Ratio Rank: 90
TEKX Omega Ratio Rank: 88
TEKX Calmar Ratio Rank: 95
TEKX Martin Ratio Rank: 94

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. TEKX - 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 SPDR Galaxy Transformative Tech Accelerators ETF (TEKX). 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	TEKX	Difference
Sharpe ratio: Return per unit of total volatility	0.98	2.77	-1.79
Sortino ratio: Return per unit of downside risk	1.49	3.32	-1.83
Omega ratio: Gain probability vs. loss probability	1.18	1.41	-0.23
Calmar ratio: Return relative to maximum drawdown	1.49	5.59	-4.10
Martin ratio: Return relative to average drawdown	4.72	18.63	-13.91

JSMD vs. TEKX - Sharpe Ratio Comparison

The current JSMD Sharpe Ratio is 0.98, which is lower than the TEKX Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of JSMD and TEKX, 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. TEKX - Drawdown Comparison

The maximum JSMD drawdown since its inception was -38.98%, smaller than the maximum TEKX drawdown of -45.57%. Use the drawdown chart below to compare losses from any high point for JSMD and TEKX.

Drawdown Indicators

	JSMD	TEKX	Difference
Max Drawdown Largest peak-to-trough decline	-38.98%	-45.57%	+6.59%
Max Drawdown (1Y) Largest decline over 1 year	-14.86%	-20.41%	+5.55%
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%	-7.44%	+1.02%
Average Drawdown Average peak-to-trough decline	-7.42%	-9.97%	+2.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.69%	6.12%	-1.43%

Volatility

JSMD vs. TEKX - Volatility Comparison

The current volatility for Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) is 6.57%, while SPDR Galaxy Transformative Tech Accelerators ETF (TEKX) has a volatility of 18.64%. This indicates that JSMD experiences smaller price fluctuations and is considered to be less risky than TEKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JSMD	TEKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	18.64%	-12.07%
Volatility (6M) Calculated over the trailing 6-month period	17.87%	33.72%	-15.85%
Volatility (1Y) Calculated over the trailing 1-year period	22.59%	41.26%	-18.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.15%	45.34%	-22.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.87%	45.34%	-22.47%

JSMD vs. TEKX - Expense Ratio Comparison

JSMD has a 0.30% expense ratio, which is lower than TEKX's 0.65% expense ratio.

Dividends

JSMD vs. TEKX - Dividend Comparison

JSMD's dividend yield for the trailing twelve months is around 0.43%, more than TEKX's 0.21% 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%
TEKX SPDR Galaxy Transformative Tech Accelerators ETF	0.21%	0.36%	3.47%	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 TEKX in my portfolio?

JSMD and TEKX have a correlation of 0.75, 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 TEKX?

TEKX has higher volatility (18.64%) compared to JSMD (6.57%). In terms of maximum drawdown, JSMD dropped -38.98% vs TEKX's -45.57%.

Which ETF is better, JSMD or TEKX?

On 1-year performance, TEKX leads with 113.52% vs 22.10% for JSMD. On fees, JSMD is cheaper at 0.30% per year. On volatility, JSMD has been the lower-risk option at 6.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JSMD or TEKX?

Over the 1-year period, TEKX has performed better with a 113.52% return vs 22.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JSMD or TEKX?

JSMD is cheaper with a 0.30% expense ratio, compared with 0.65% for TEKX.

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

JSMD has the higher dividend yield at 0.43%, compared with 0.21% for TEKX.

What is the main difference between JSMD and TEKX?

They also come from different issuers: Janus Henderson and State Street. Their fees differ too: 0.30% for JSMD and 0.65% for TEKX.

Which has better risk-adjusted returns?

TEKX currently has the higher Sharpe Ratio (2.77 vs 0.98), 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.