JSML vs. JXX
JSML (Janus Henderson Small Cap Growth Alpha ETF) and JXX (Janus Henderson Transformational Growth ETF) are both exchange-traded funds - JSML is a Small Cap Growth Equities fund tracking the Janus Small Cap Growth Alpha Index, while JXX is a Large Cap Growth Equities fund actively managed by Janus Henderson. JSML is passively managed, while JXX is actively managed. Over the past year, JSML returned 33.64% vs 38.46% for JXX. A 0.73 correlation means they provide meaningful diversification when combined. JSML charges 0.30%/yr vs 0.57%/yr for JXX.
Performance
JSML vs. JXX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with JSML having a 19.06% return and JXX slightly lower at 18.19%.
JSML
- 1D
- -0.84%
- 1M
- 7.59%
- YTD
- 19.06%
- 6M
- 17.83%
- 1Y
- 33.64%
- 3Y*
- 18.71%
- 5Y*
- 6.09%
- 10Y*
- 12.88%
JXX
- 1D
- -1.12%
- 1M
- 11.13%
- YTD
- 18.19%
- 6M
- 17.31%
- 1Y
- 38.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JSML vs. JXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JSML Janus Henderson Small Cap Growth Alpha ETF | 19.06% | 6.95% |
JXX Janus Henderson Transformational Growth ETF | 18.19% | 10.47% |
Correlation
The correlation between JSML and JXX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025 | 0.73 |
The correlation between JSML and JXX has been stable across timeframes, ranging from 0.73 to 0.73 - a consistent structural relationship.
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Return for Risk
JSML vs. JXX — Risk / Return Rank
JSML
JXX
JSML vs. JXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Small Cap Growth Alpha ETF (JSML) and Janus Henderson Transformational Growth ETF (JXX). 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.
| JSML | JXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.32 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 2.14 | +0.13 |
| Martin ratioReturn relative to average drawdown | 8.08 | 6.97 | +1.12 |
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
| JSML | JXX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 1.91 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | — | — |
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 | 0.92 | -0.36 |
Drawdowns
JSML vs. JXX - Drawdown Comparison
The maximum JSML drawdown since its inception was -39.65%, which is greater than JXX's maximum drawdown of -23.73%. Use the drawdown chart below to compare losses from any high point for JSML and JXX.
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Drawdown Indicators
| JSML | JXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.65% | -23.73% | -15.92% |
Max Drawdown (1Y)Largest decline over 1 year | -14.84% | -18.02% | +3.18% |
Max Drawdown (3Y)Largest decline over 3 years | -25.60% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -37.91% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.65% | — | — |
Current DrawdownCurrent decline from peak | -0.84% | -1.55% | +0.71% |
Average DrawdownAverage peak-to-trough decline | -10.86% | -5.48% | -5.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.17% | 5.54% | -1.37% |
Volatility
JSML vs. JXX - Volatility Comparison
Janus Henderson Small Cap Growth Alpha ETF (JSML) has a higher volatility of 7.49% compared to Janus Henderson Transformational Growth ETF (JXX) at 6.45%. This indicates that JSML's price experiences larger fluctuations and is considered to be riskier than JXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JSML | JXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.49% | 6.45% | +1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 15.94% | 15.63% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.56% | 20.22% | +1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.34% | 24.32% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.27% | 24.32% | -0.05% |
JSML vs. JXX - Expense Ratio Comparison
JSML has a 0.30% expense ratio, which is lower than JXX's 0.57% expense ratio.
Dividends
JSML vs. JXX - Dividend Comparison
JSML's dividend yield for the trailing twelve months is around 0.80%, more than JXX's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
JSML Janus Henderson Small Cap Growth Alpha ETF | 0.80% | 0.94% | 1.19% | 0.49% | 0.67% | 0.46% | 0.30% | 0.27% | 0.76% | 0.42% | 0.52% |
JXX Janus Henderson Transformational Growth ETF | 0.01% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JSML and JXX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JSML has higher volatility (7.49%) compared to JXX (6.45%). In terms of maximum drawdown, JSML dropped -39.65% vs JXX's -23.73%.
On 1-year performance, JXX leads with 38.46% vs 33.64% for JSML. On fees, JSML is cheaper at 0.30% per year. On volatility, JXX has been the lower-risk option at 6.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, JXX has performed better with a 38.46% return vs 33.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JSML is cheaper with a 0.30% expense ratio, compared with 0.57% for JXX.
JSML has the higher dividend yield at 0.80%, compared with 0.01% for JXX.
JSML is categorized as Small Cap Growth Equities, while JXX is Large Cap Growth Equities. Their fees differ too: 0.30% for JSML and 0.57% for JXX.
JXX currently has the higher Sharpe Ratio (1.91 vs 1.57), 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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