JXX vs. JIII

Last updated Jun 20, 2026

JXX (Janus Henderson Transformational Growth ETF) and JIII (Janus Henderson Income ETF) are both exchange-traded funds - JXX is a Large Cap Growth Equities fund actively managed by Janus Henderson, while JIII is a Multisector Bonds fund actively managed by Janus Henderson. Both are actively managed. Over the past year, JXX returned 34.17% vs 7.00% for JIII. At a 0.35 correlation, their price movements are largely independent. JXX charges 0.57%/yr vs 0.54%/yr for JIII.

Performance

JXX vs. JIII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Transformational Growth ETF (JXX) and Janus Henderson Income ETF (JIII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JXX achieves a 17.45% return, which is significantly higher than JIII's 1.75% return.

JXX

• 1D: 1.84%
• 1M: 7.18%
• YTD: 17.45%
• 6M: 18.10%
• 1Y: 34.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JIII

• 1D: 0.37%
• 1M: 1.18%
• YTD: 1.75%
• 6M: 2.13%
• 1Y: 7.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JXX vs. JIII - Yearly Performance Comparison

	2026 (YTD)	2025
JXX Janus Henderson Transformational Growth ETF	17.45%	11.61%
JIII Janus Henderson Income ETF	1.75%	7.17%

Correlation

The correlation between JXX and JIII is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Feb 5, 2025	0.35

Return for Risk

JXX vs. JIII — Risk / Return Rank

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

JXX

JXX Risk / Return Rank: 44
JXX Sharpe Ratio Rank: 48
JXX Sortino Ratio Rank: 46
JXX Omega Ratio Rank: 45
JXX Calmar Ratio Rank: 39
JXX Martin Ratio Rank: 40

JIII

JIII Risk / Return Rank: 65
JIII Sharpe Ratio Rank: 61
JIII Sortino Ratio Rank: 64
JIII Omega Ratio Rank: 69
JIII Calmar Ratio Rank: 64
JIII Martin Ratio Rank: 66

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.

JXX vs. JIII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Transformational Growth ETF (JXX) and Janus Henderson Income ETF (JIII). 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.

	JXX	JIII	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.94	-0.33
Sortino ratio: Return per unit of downside risk	2.21	2.84	-0.63
Omega ratio: Gain probability vs. loss probability	1.28	1.39	-0.11
Calmar ratio: Return relative to maximum drawdown	1.90	3.10	-1.19
Martin ratio: Return relative to average drawdown	6.08	11.68	-5.60

JXX vs. JIII - Sharpe Ratio Comparison

The current JXX Sharpe Ratio is 1.61, which is comparable to the JIII Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of JXX and JIII, 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

JXX vs. JIII - Drawdown Comparison

The maximum JXX drawdown since its inception was -23.73%, which is greater than JIII's maximum drawdown of -3.55%. Use the drawdown chart below to compare losses from any high point for JXX and JIII.

Drawdown Indicators

	JXX	JIII	Difference
Max Drawdown Largest peak-to-trough decline	-23.73%	-3.55%	-20.18%
Max Drawdown (1Y) Largest decline over 1 year	-18.02%	-2.27%	-15.75%
Current Drawdown Current decline from peak	-2.16%	-0.30%	-1.86%
Average Drawdown Average peak-to-trough decline	-5.43%	-0.49%	-4.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.64%	0.60%	+5.04%

Volatility

JXX vs. JIII - Volatility Comparison

Janus Henderson Transformational Growth ETF (JXX) has a higher volatility of 8.53% compared to Janus Henderson Income ETF (JIII) at 1.38%. This indicates that JXX's price experiences larger fluctuations and is considered to be riskier than JIII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JXX	JIII	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.53%	1.38%	+7.15%
Volatility (6M) Calculated over the trailing 6-month period	16.93%	2.88%	+14.05%
Volatility (1Y) Calculated over the trailing 1-year period	21.33%	3.63%	+17.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.67%	4.01%	+20.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.67%	4.01%	+20.66%

JXX vs. JIII - Expense Ratio Comparison

JXX has a 0.57% expense ratio, which is higher than JIII's 0.54% expense ratio.

Dividends

JXX vs. JIII - Dividend Comparison

JXX's dividend yield for the trailing twelve months is around 0.01%, less than JIII's 7.39% yield.

Position	TTM	2025	2024
JIII Janus Henderson Income ETF	7.39%	7.33%	0.44%
JXX Janus Henderson Transformational Growth ETF	0.01%	0.04%	0.00%

Frequently Asked Questions

Can I hold both JXX and JIII in my portfolio?

JXX and JIII have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JXX or JIII?

JXX has higher volatility (8.53%) compared to JIII (1.38%). In terms of maximum drawdown, JXX dropped -23.73% vs JIII's -3.55%.

Which ETF is better, JXX or JIII?

On 1-year performance, JXX leads with 34.17% vs 7.00% for JIII. On fees, JIII is cheaper at 0.54% per year. On volatility, JIII has been the lower-risk option at 1.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JXX or JIII?

Over the 1-year period, JXX has performed better with a 34.17% return vs 7.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JXX or JIII?

JIII is cheaper with a 0.54% expense ratio, compared with 0.57% for JXX.

Which ETF pays a higher dividend yield, JXX or JIII?

JIII has the higher dividend yield at 7.39%, compared with 0.01% for JXX.

What is the main difference between JXX and JIII?

JXX is categorized as Large Cap Growth Equities, while JIII is Multisector Bonds. Their fees differ too: 0.57% for JXX and 0.54% for JIII.

Which has better risk-adjusted returns?

JIII currently has the higher Sharpe Ratio (1.94 vs 1.61), 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.