SMIFX vs. JDBAX

Last updated Jun 4, 2026

SMIFX (Sound Mind Investing Fund) and JDBAX (Janus Henderson Balanced Fund Class A) are both Diversified Portfolio funds. Over the past 10 years, SMIFX returned 9.55%/yr vs 10.95%/yr for JDBAX. Their correlation of 0.86 suggests significant overlap in exposure. SMIFX charges 1.19%/yr vs 0.89%/yr for JDBAX.

Performance

SMIFX vs. JDBAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sound Mind Investing Fund (SMIFX) and Janus Henderson Balanced Fund Class A (JDBAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMIFX achieves a 17.18% return, which is significantly higher than JDBAX's 3.84% return. Over the past 10 years, SMIFX has underperformed JDBAX with an annualized return of 9.55%, while JDBAX has yielded a comparatively higher 10.95% annualized return.

SMIFX

• 1D: 0.80%
• 1M: 3.66%
• YTD: 17.18%
• 6M: 17.20%
• 1Y: 20.15%
• 3Y*: 13.27%
• 5Y*: 6.02%
• 10Y*: 9.55%

JDBAX

• 1D: 0.00%
• 1M: 3.13%
• YTD: 3.84%
• 6M: 3.83%
• 1Y: 14.97%
• 3Y*: 15.57%
• 5Y*: 8.84%
• 10Y*: 10.95%

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

SMIFX vs. JDBAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMIFX Sound Mind Investing Fund	17.18%	3.16%	16.65%	5.17%	-8.93%	11.15%	20.76%	19.28%	-8.56%	17.49%
JDBAX Janus Henderson Balanced Fund Class A	3.84%	14.78%	20.54%	15.17%	-16.75%	16.99%	14.14%	25.01%	0.39%	18.23%

Correlation

The correlation between SMIFX and JDBAX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Dec 8, 2005	0.86

The correlation between SMIFX and JDBAX shifts across timeframes, from 0.76 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SMIFX vs. JDBAX — Risk / Return Rank

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

SMIFX

SMIFX Risk / Return Rank: 41
SMIFX Sharpe Ratio Rank: 38
SMIFX Sortino Ratio Rank: 35
SMIFX Omega Ratio Rank: 36
SMIFX Calmar Ratio Rank: 55
SMIFX Martin Ratio Rank: 43

JDBAX

JDBAX Risk / Return Rank: 35
JDBAX Sharpe Ratio Rank: 37
JDBAX Sortino Ratio Rank: 37
JDBAX Omega Ratio Rank: 37
JDBAX Calmar Ratio Rank: 26
JDBAX Martin Ratio Rank: 37

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.

SMIFX vs. JDBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sound Mind Investing Fund (SMIFX) and Janus Henderson Balanced Fund Class A (JDBAX). 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.

	SMIFX	JDBAX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.77	+0.03
Sortino ratio: Return per unit of downside risk	2.48	2.54	-0.06
Omega ratio: Gain probability vs. loss probability	1.32	1.32	0.00
Calmar ratio: Return relative to maximum drawdown	2.83	1.89	+0.94
Martin ratio: Return relative to average drawdown	9.07	8.15	+0.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMIFX vs. JDBAX - Sharpe Ratio Comparison

The current SMIFX Sharpe Ratio is 1.81, which is comparable to the JDBAX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of SMIFX and JDBAX, 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

	SMIFX	JDBAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	1.77	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.78	-0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.98	-0.58
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.67	-0.35

Drawdowns

SMIFX vs. JDBAX - Drawdown Comparison

The maximum SMIFX drawdown since its inception was -54.33%, which is greater than JDBAX's maximum drawdown of -34.14%. Use the drawdown chart below to compare losses from any high point for SMIFX and JDBAX.

Drawdown Indicators

	SMIFX	JDBAX	Difference
Max Drawdown Largest peak-to-trough decline	-54.33%	-34.14%	-20.19%
Max Drawdown (1Y) Largest decline over 1 year	-7.42%	-8.16%	+0.74%
Max Drawdown (3Y) Largest decline over 3 years	-19.98%	-11.96%	-8.02%
Max Drawdown (5Y) Largest decline over 5 years	-41.36%	-21.63%	-19.73%
Max Drawdown (10Y) Largest decline over 10 years	-41.36%	-22.48%	-18.88%
Current Drawdown Current decline from peak	-8.50%	0.00%	-8.50%
Average Drawdown Average peak-to-trough decline	-14.28%	-5.38%	-8.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	1.89%	+0.42%

Volatility

SMIFX vs. JDBAX - Volatility Comparison

Sound Mind Investing Fund (SMIFX) has a higher volatility of 3.04% compared to Janus Henderson Balanced Fund Class A (JDBAX) at 2.46%. This indicates that SMIFX's price experiences larger fluctuations and is considered to be riskier than JDBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMIFX	JDBAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.04%	2.46%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	8.90%	6.94%	+1.96%
Volatility (1Y) Calculated over the trailing 1-year period	11.63%	8.71%	+2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.03%	11.34%	+17.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.18%	11.27%	+12.91%

SMIFX vs. JDBAX - Expense Ratio Comparison

SMIFX has a 1.19% expense ratio, which is higher than JDBAX's 0.89% expense ratio.

Dividends

SMIFX vs. JDBAX - Dividend Comparison

SMIFX's dividend yield for the trailing twelve months is around 4.55%, less than JDBAX's 8.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JDBAX Janus Henderson Balanced Fund Class A	8.34%	8.62%	11.67%	2.08%	1.76%	4.34%	2.35%	4.62%	6.84%	5.05%	2.43%	5.68%
SMIFX Sound Mind Investing Fund	4.55%	5.33%	1.28%	1.73%	0.97%	46.86%	0.00%	0.48%	26.02%	10.06%	0.00%	14.94%

Frequently Asked Questions

Can I hold both SMIFX and JDBAX in my portfolio?

SMIFX and JDBAX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMIFX or JDBAX?

SMIFX has higher volatility (3.04%) compared to JDBAX (2.46%). In terms of maximum drawdown, SMIFX dropped -54.33% vs JDBAX's -34.14%.

Which has better risk-adjusted returns?

SMIFX currently has the higher Sharpe Ratio (1.81 vs 1.77), 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.