JVSIX vs. VMFVX

Last updated Jun 4, 2026

JVSIX (Janus Henderson Small-Mid Cap Value Fund) and VMFVX (Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares) are both Mid Cap Value Equities funds. Over the past 10 years, JVSIX returned 9.20%/yr vs 10.55%/yr for VMFVX. Their correlation of 0.94 suggests significant overlap in exposure. JVSIX charges 0.81%/yr vs 0.08%/yr for VMFVX.

Performance

JVSIX vs. VMFVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Small-Mid Cap Value Fund (JVSIX) and Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares (VMFVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JVSIX achieves a 12.12% return, which is significantly higher than VMFVX's 9.39% return. Over the past 10 years, JVSIX has underperformed VMFVX with an annualized return of 9.20%, while VMFVX has yielded a comparatively higher 10.55% annualized return.

JVSIX

• 1D: 1.19%
• 1M: 3.72%
• YTD: 12.12%
• 6M: 12.31%
• 1Y: 27.63%
• 3Y*: 15.62%
• 5Y*: 7.19%
• 10Y*: 9.20%

VMFVX

• 1D: 1.05%
• 1M: 2.15%
• YTD: 9.39%
• 6M: 9.65%
• 1Y: 21.23%
• 3Y*: 14.13%
• 5Y*: 7.70%
• 10Y*: 10.55%

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

JVSIX vs. VMFVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JVSIX Janus Henderson Small-Mid Cap Value Fund	12.12%	4.45%	16.28%	15.25%	-8.87%	16.34%	-3.09%	26.95%	-7.24%	14.06%
VMFVX Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares	9.39%	7.57%	10.59%	16.49%	-7.03%	30.54%	3.68%	26.18%	-11.90%	12.27%

Correlation

The correlation between JVSIX and VMFVX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 16, 2011	0.94

The correlation between JVSIX and VMFVX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

JVSIX vs. VMFVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JVSIX

JVSIX Risk / Return Rank: 35
JVSIX Sharpe Ratio Rank: 34
JVSIX Sortino Ratio Rank: 36
JVSIX Omega Ratio Rank: 31
JVSIX Calmar Ratio Rank: 38
JVSIX Martin Ratio Rank: 35

VMFVX

VMFVX Risk / Return Rank: 30
VMFVX Sharpe Ratio Rank: 28
VMFVX Sortino Ratio Rank: 30
VMFVX Omega Ratio Rank: 26
VMFVX Calmar Ratio Rank: 34
VMFVX Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JVSIX vs. VMFVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Small-Mid Cap Value Fund (JVSIX) and Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares (VMFVX). 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.

	JVSIX	VMFVX	Difference
Sharpe ratio Return per unit of total volatility	1.70	1.51	+0.18
Sortino ratio Return per unit of downside risk	2.51	2.28	+0.24
Omega ratio Gain probability vs. loss probability	1.29	1.27	+0.03
Calmar ratio Return relative to maximum drawdown	2.34	2.18	+0.16
Martin ratio Return relative to average drawdown	7.85	7.51	+0.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JVSIX vs. VMFVX - Sharpe Ratio Comparison

The current JVSIX Sharpe Ratio is 1.70, which is comparable to the VMFVX Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of JVSIX and VMFVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JVSIX	VMFVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.51	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.40	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.48	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.52	+0.04

Drawdowns

JVSIX vs. VMFVX - Drawdown Comparison

The maximum JVSIX drawdown since its inception was -39.82%, smaller than the maximum VMFVX drawdown of -45.79%. Use the drawdown chart below to compare losses from any high point for JVSIX and VMFVX.

Drawdown Indicators

	JVSIX	VMFVX	Difference
Max Drawdown Largest peak-to-trough decline	-39.82%	-45.79%	+5.97%
Max Drawdown (1Y) Largest decline over 1 year	-12.80%	-10.52%	-2.28%
Max Drawdown (3Y) Largest decline over 3 years	-28.11%	-22.46%	-5.65%
Max Drawdown (5Y) Largest decline over 5 years	-28.11%	-22.46%	-5.65%
Max Drawdown (10Y) Largest decline over 10 years	-39.82%	-45.79%	+5.97%
Current Drawdown Current decline from peak	-0.99%	0.00%	-0.99%
Average Drawdown Average peak-to-trough decline	-5.14%	-5.48%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	3.05%	+0.75%

Volatility

JVSIX vs. VMFVX - Volatility Comparison

Janus Henderson Small-Mid Cap Value Fund (JVSIX) has a higher volatility of 4.82% compared to Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares (VMFVX) at 4.02%. This indicates that JVSIX's price experiences larger fluctuations and is considered to be riskier than VMFVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JVSIX	VMFVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.82%	4.02%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	12.57%	10.50%	+2.07%
Volatility (1Y) Calculated over the trailing 1-year period	17.65%	15.14%	+2.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.80%	19.47%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.81%	21.88%	-2.07%

JVSIX vs. VMFVX - Expense Ratio Comparison

JVSIX has a 0.81% expense ratio, which is higher than VMFVX's 0.08% expense ratio.

Dividends

JVSIX vs. VMFVX - Dividend Comparison

JVSIX's dividend yield for the trailing twelve months is around 8.31%, more than VMFVX's 1.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JVSIX Janus Henderson Small-Mid Cap Value Fund	8.31%	9.31%	7.89%	0.91%	0.56%	2.96%	0.75%	10.80%	14.38%	5.56%	5.44%	6.93%
VMFVX Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares	1.72%	1.88%	1.81%	1.58%	2.04%	1.81%	2.48%	1.94%	2.01%	1.56%	1.42%	1.73%

Frequently Asked Questions

Can I hold both JVSIX and VMFVX in my portfolio?

With a correlation of 0.96, JVSIX and VMFVX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JVSIX or VMFVX?

JVSIX has higher volatility (4.82%) compared to VMFVX (4.02%). In terms of maximum drawdown, JVSIX dropped -39.82% vs VMFVX's -45.79%.

Which has better risk-adjusted returns?

JVSIX currently has the higher Sharpe Ratio (1.70 vs 1.51), 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.