TUIFX vs. JUCIX

Last updated Jun 24, 2026

TUIFX (Toews Unconstrained Income Fund) and JUCIX (Janus Henderson Absolute Return Income Opportunities Fund) are both Nontraditional Bonds funds. Over the past 10 years, TUIFX returned 1.87%/yr vs 2.57%/yr for JUCIX. At a 0.23 correlation, their price movements are largely independent. TUIFX charges 1.25%/yr vs 0.71%/yr for JUCIX.

Performance

TUIFX vs. JUCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Toews Unconstrained Income Fund (TUIFX) and Janus Henderson Absolute Return Income Opportunities Fund (JUCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TUIFX achieves a 0.49% return, which is significantly lower than JUCIX's 1.18% return. Over the past 10 years, TUIFX has underperformed JUCIX with an annualized return of 1.87%, while JUCIX has yielded a comparatively higher 2.57% annualized return.

TUIFX

• 1D: -0.11%
• 1M: 0.23%
• YTD: 0.49%
• 6M: 0.60%
• 1Y: 2.98%
• 3Y*: 4.11%
• 5Y*: 1.26%
• 10Y*: 1.87%

JUCIX

• 1D: -0.11%
• 1M: 0.44%
• YTD: 1.18%
• 6M: 1.60%
• 1Y: 5.45%
• 3Y*: 6.17%
• 5Y*: 3.78%
• 10Y*: 2.57%

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

TUIFX vs. JUCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TUIFX Toews Unconstrained Income Fund	0.49%	3.55%	4.53%	3.08%	-4.36%	-0.20%	2.58%	6.97%	-2.82%	2.10%
JUCIX Janus Henderson Absolute Return Income Opportunities Fund	1.18%	6.68%	6.13%	7.02%	-1.46%	-0.43%	3.56%	2.60%	-3.85%	2.37%

Correlation

The correlation between TUIFX and JUCIX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.23

Over the past year, TUIFX and JUCIX have become more correlated (0.47) than their long-term average of 0.23, meaning their price movements have been converging.

Return for Risk

TUIFX vs. JUCIX — Risk / Return Rank

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

TUIFX

TUIFX Risk / Return Rank: 44
TUIFX Sharpe Ratio Rank: 30
TUIFX Sortino Ratio Rank: 34
TUIFX Omega Ratio Rank: 33
TUIFX Calmar Ratio Rank: 82
TUIFX Martin Ratio Rank: 39

JUCIX

JUCIX Risk / Return Rank: 91
JUCIX Sharpe Ratio Rank: 82
JUCIX Sortino Ratio Rank: 95
JUCIX Omega Ratio Rank: 97
JUCIX Calmar Ratio Rank: 89
JUCIX Martin Ratio Rank: 90

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.

TUIFX vs. JUCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Toews Unconstrained Income Fund (TUIFX) and Janus Henderson Absolute Return Income Opportunities Fund (JUCIX). 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.

	TUIFX	JUCIX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	2.49	-1.02
Sortino ratio: Return per unit of downside risk	2.23	4.74	-2.50
Omega ratio: Gain probability vs. loss probability	1.29	1.95	-0.66
Calmar ratio: Return relative to maximum drawdown	3.57	4.24	-0.67
Martin ratio: Return relative to average drawdown	8.04	16.82	-8.78

TUIFX vs. JUCIX - Sharpe Ratio Comparison

The current TUIFX Sharpe Ratio is 1.46, which is lower than the JUCIX Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of TUIFX and JUCIX, 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

TUIFX vs. JUCIX - Drawdown Comparison

The maximum TUIFX drawdown since its inception was -7.37%, smaller than the maximum JUCIX drawdown of -8.25%. Use the drawdown chart below to compare losses from any high point for TUIFX and JUCIX.

Drawdown Indicators

	TUIFX	JUCIX	Difference
Max Drawdown Largest peak-to-trough decline	-7.37%	-8.25%	+0.88%
Max Drawdown (1Y) Largest decline over 1 year	-0.87%	-1.32%	+0.45%
Max Drawdown (3Y) Largest decline over 3 years	-1.64%	-1.32%	-0.32%
Max Drawdown (5Y) Largest decline over 5 years	-7.37%	-3.81%	-3.56%
Max Drawdown (10Y) Largest decline over 10 years	-7.37%	-8.25%	+0.88%
Current Drawdown Current decline from peak	-0.37%	-0.22%	-0.15%
Average Drawdown Average peak-to-trough decline	-2.06%	-1.33%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.39%	0.33%	+0.06%

Volatility

TUIFX vs. JUCIX - Volatility Comparison

Toews Unconstrained Income Fund (TUIFX) has a higher volatility of 0.74% compared to Janus Henderson Absolute Return Income Opportunities Fund (JUCIX) at 0.59%. This indicates that TUIFX's price experiences larger fluctuations and is considered to be riskier than JUCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TUIFX	JUCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	0.59%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	1.42%	1.51%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	2.13%	2.25%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.63%	1.86%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.69%	2.51%	+0.18%

TUIFX vs. JUCIX - Expense Ratio Comparison

TUIFX has a 1.25% expense ratio, which is higher than JUCIX's 0.71% expense ratio.

Dividends

TUIFX vs. JUCIX - Dividend Comparison

TUIFX's dividend yield for the trailing twelve months is around 3.97%, less than JUCIX's 4.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JUCIX Janus Henderson Absolute Return Income Opportunities Fund	4.88%	4.86%	4.66%	3.73%	2.09%	1.48%	1.70%	2.68%	3.24%	2.56%	4.76%	2.28%
TUIFX Toews Unconstrained Income Fund	3.97%	4.17%	4.68%	4.09%	1.05%	2.13%	1.33%	2.44%	2.05%	4.34%	2.29%	1.19%

Frequently Asked Questions

Can I hold both TUIFX and JUCIX in my portfolio?

TUIFX and JUCIX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TUIFX or JUCIX?

TUIFX has higher volatility (0.74%) compared to JUCIX (0.59%). In terms of maximum drawdown, TUIFX dropped -7.37% vs JUCIX's -8.25%.

Which has better risk-adjusted returns?

JUCIX currently has the higher Sharpe Ratio (2.49 vs 1.46), 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.