SYLD vs. JSMD

Last updated Jul 14, 2026

SYLD (Cambria Shareholder Yield ETF) and JSMD (Janus Henderson Small/Mid Cap Growth Alpha ETF) are both exchange-traded funds - SYLD is a Mid Cap Value Equities fund actively managed by Cambria, while JSMD is a Mid Cap Growth Equities fund tracking the Janus Small Mid Cap Growth Alpha Index. SYLD is actively managed, while JSMD is passively managed. Over the past 10 years, SYLD returned 13.25%/yr vs 13.18%/yr for JSMD. A 0.73 correlation means they provide meaningful diversification when combined. SYLD charges 0.59%/yr vs 0.30%/yr for JSMD.

Performance

SYLD vs. JSMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Shareholder Yield ETF (SYLD) and Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SYLD having a 18.12% return and JSMD slightly lower at 17.87%. Both investments have delivered pretty close results over the past 10 years, with SYLD having a 13.25% annualized return and JSMD not far behind at 13.18%.

SYLD

• 1D: 0.96%
• 1M: 0.80%
• 6M: 12.45%
• YTD: 18.12%
• 1Y: 22.95%
• 3Y*: 11.71%
• 5Y*: 8.10%
• 10Y*: 13.25%

JSMD

• 1D: -1.61%
• 1M: -0.15%
• 6M: 11.88%
• YTD: 17.87%
• 1Y: 23.51%
• 3Y*: 15.29%
• 5Y*: 8.37%
• 10Y*: 13.18%

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

SYLD vs. JSMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SYLD Cambria Shareholder Yield ETF	18.12%	3.94%	3.37%	16.46%	-6.14%	48.59%	13.61%	26.98%	-13.51%	20.03%
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	17.87%	9.25%	15.08%	26.81%	-22.84%	8.40%	30.79%	31.05%	-4.73%	24.46%

Correlation

The correlation between SYLD and JSMD is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Feb 25, 2016	0.73

The correlation between SYLD and JSMD shifts across timeframes, from 0.56 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.

SYLD vs. JSMD - Sectors Allocation Comparison

Sectors	SYLD	JSMD
Consumer Cyclical	23.5%	8.7%
Financial Services	22.7%	8.9%
Energy	17.1%	1.1%
Industrials	8.3%	23.3%
Basic Materials	8.0%	3.0%
Consumer Defensive	6.7%	2.5%
Communication Services	6.0%	2.9%
Healthcare	5.7%	18.7%
Technology	2.1%	28.1%
Real Estate	-	2.8%
Utilities	-	-

Return for Risk

SYLD vs. JSMD — Risk / Return Rank

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

SYLD

SYLD Risk / Return Rank: 63
SYLD Sharpe Ratio Rank: 55
SYLD Sortino Ratio Rank: 61
SYLD Omega Ratio Rank: 53
SYLD Calmar Ratio Rank: 80
SYLD Martin Ratio Rank: 63

JSMD

JSMD Risk / Return Rank: 38
JSMD Sharpe Ratio Rank: 37
JSMD Sortino Ratio Rank: 37
JSMD Omega Ratio Rank: 35
JSMD Calmar Ratio Rank: 39
JSMD Martin Ratio Rank: 42

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.

SYLD vs. JSMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Shareholder Yield ETF (SYLD) and Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD). 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.

	SYLD	JSMD	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.07	+0.43
Sortino ratio: Return per unit of downside risk	2.30	1.58	+0.71
Omega ratio: Gain probability vs. loss probability	1.26	1.19	+0.07
Calmar ratio: Return relative to maximum drawdown	3.33	1.59	+1.74
Martin ratio: Return relative to average drawdown	8.96	5.33	+3.63

SYLD vs. JSMD - Sharpe Ratio Comparison

The current SYLD Sharpe Ratio is 1.50, which is higher than the JSMD Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of SYLD and JSMD, 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

SYLD vs. JSMD - Drawdown Comparison

The maximum SYLD drawdown since its inception was -45.36%, which is greater than JSMD's maximum drawdown of -38.98%. Use the drawdown chart below to compare losses from any high point for SYLD and JSMD.

Drawdown Indicators

	SYLD	JSMD	Difference
Max Drawdown Largest peak-to-trough decline	-45.36%	-38.98%	-6.38%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-14.86%	+7.93%
Max Drawdown (3Y) Largest decline over 3 years	-26.62%	-24.01%	-2.61%
Max Drawdown (5Y) Largest decline over 5 years	-26.62%	-32.18%	+5.56%
Max Drawdown (10Y) Largest decline over 10 years	-45.36%	-38.98%	-6.38%
Current Drawdown Current decline from peak	0.00%	-5.22%	+5.22%
Average Drawdown Average peak-to-trough decline	-5.63%	-7.43%	+1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	4.42%	-1.85%

Volatility

SYLD vs. JSMD - Volatility Comparison

The current volatility for Cambria Shareholder Yield ETF (SYLD) is 3.87%, while Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) has a volatility of 6.99%. This indicates that SYLD experiences smaller price fluctuations and is considered to be less risky than JSMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SYLD	JSMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	6.99%	-3.12%
Volatility (6M) Calculated over the trailing 6-month period	9.39%	17.44%	-8.05%
Volatility (1Y) Calculated over the trailing 1-year period	15.40%	22.20%	-6.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.37%	23.09%	-2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.90%	22.81%	+0.09%

SYLD vs. JSMD - Expense Ratio Comparison

SYLD has a 0.59% expense ratio, which is higher than JSMD's 0.30% expense ratio.

Dividends

SYLD vs. JSMD - Dividend Comparison

SYLD's dividend yield for the trailing twelve months is around 1.88%, more than JSMD's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	0.42%	0.54%	0.76%	0.44%	0.40%	0.28%	0.24%	0.32%	0.53%	0.30%	0.36%	0.00%
SYLD Cambria Shareholder Yield ETF	1.88%	2.25%	2.04%	1.92%	2.20%	2.37%	1.99%	2.08%	2.52%	1.57%	1.92%	6.93%

Frequently Asked Questions

Can I hold both SYLD and JSMD in my portfolio?

SYLD and JSMD have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SYLD or JSMD?

JSMD has higher volatility (6.99%) compared to SYLD (3.87%). In terms of maximum drawdown, SYLD dropped -45.36% vs JSMD's -38.98%.

Which ETF is better, SYLD or JSMD?

On 10-year performance, SYLD leads with 13.25% vs 13.18% for JSMD. On fees, JSMD is cheaper at 0.30% per year. On volatility, SYLD has been the lower-risk option at 3.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SYLD or JSMD?

Over the 10-year period, SYLD has performed better with a 13.25% return vs 13.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SYLD or JSMD?

JSMD is cheaper with a 0.30% expense ratio, compared with 0.59% for SYLD.

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

SYLD has the higher dividend yield at 1.88%, compared with 0.42% for JSMD.

What is the main difference between SYLD and JSMD?

SYLD is categorized as Mid Cap Value Equities, while JSMD is Mid Cap Growth Equities. They also come from different issuers: Cambria and Janus Henderson. Their fees differ too: 0.59% for SYLD and 0.30% for JSMD.

Which has better risk-adjusted returns?

SYLD currently has the higher Sharpe Ratio (1.50 vs 1.07), 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.