VIEIX vs. JANEX

Last updated Jun 14, 2026

VIEIX (Vanguard Extended Market Index Fund Institutional Shares) and JANEX (Janus Henderson Enterprise Fund) are both mutual funds - VIEIX is a Mid Cap Blend Equities fund managed by Vanguard, while JANEX is a Mid Cap Growth Equities fund managed by Janus Henderson. Over the past 10 years, VIEIX returned 12.24%/yr vs 12.78%/yr for JANEX. Their correlation of 0.93 suggests significant overlap in exposure. VIEIX charges 0.05%/yr vs 0.79%/yr for JANEX.

Performance

VIEIX vs. JANEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Extended Market Index Fund Institutional Shares (VIEIX) and Janus Henderson Enterprise Fund (JANEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VIEIX achieves a 13.86% return, which is significantly higher than JANEX's 6.64% return. Both investments have delivered pretty close results over the past 10 years, with VIEIX having a 12.24% annualized return and JANEX not far ahead at 12.78%.

VIEIX

• 1D: 2.96%
• 1M: 5.63%
• YTD: 13.86%
• 6M: 11.71%
• 1Y: 29.57%
• 3Y*: 18.99%
• 5Y*: 6.07%
• 10Y*: 12.24%

JANEX

• 1D: 1.81%
• 1M: 3.56%
• YTD: 6.64%
• 6M: 5.45%
• 1Y: 14.58%
• 3Y*: 12.53%
• 5Y*: 6.91%
• 10Y*: 12.78%

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

VIEIX vs. JANEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIEIX Vanguard Extended Market Index Fund Institutional Shares	13.86%	11.42%	15.49%	26.97%	-26.46%	12.46%	32.24%	28.05%	-9.36%	18.12%
JANEX Janus Henderson Enterprise Fund	6.64%	7.64%	15.25%	17.99%	-16.03%	17.02%	20.38%	35.22%	-0.95%	26.36%

Correlation

The correlation between VIEIX and JANEX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jul 7, 1997	0.93

The correlation between VIEIX and JANEX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

VIEIX vs. JANEX — Risk / Return Rank

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

VIEIX

VIEIX Risk / Return Rank: 51
VIEIX Sharpe Ratio Rank: 44
VIEIX Sortino Ratio Rank: 43
VIEIX Omega Ratio Rank: 39
VIEIX Calmar Ratio Rank: 70
VIEIX Martin Ratio Rank: 58

JANEX

JANEX Risk / Return Rank: 18
JANEX Sharpe Ratio Rank: 18
JANEX Sortino Ratio Rank: 19
JANEX Omega Ratio Rank: 17
JANEX Calmar Ratio Rank: 17
JANEX Martin Ratio Rank: 19

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.

VIEIX vs. JANEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Market Index Fund Institutional Shares (VIEIX) and Janus Henderson Enterprise Fund (JANEX). 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.

	VIEIX	JANEX	Difference
Sharpe ratio: Return per unit of total volatility	1.53	0.93	+0.60
Sortino ratio: Return per unit of downside risk	2.16	1.41	+0.75
Omega ratio: Gain probability vs. loss probability	1.26	1.17	+0.10
Calmar ratio: Return relative to maximum drawdown	2.66	1.15	+1.51
Martin ratio: Return relative to average drawdown	9.32	3.99	+5.33

VIEIX vs. JANEX - Sharpe Ratio Comparison

The current VIEIX Sharpe Ratio is 1.53, which is higher than the JANEX Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of VIEIX and JANEX, 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

VIEIX vs. JANEX - Drawdown Comparison

The maximum VIEIX drawdown since its inception was -58.03%, smaller than the maximum JANEX drawdown of -79.85%. Use the drawdown chart below to compare losses from any high point for VIEIX and JANEX.

Drawdown Indicators

	VIEIX	JANEX	Difference
Max Drawdown Largest peak-to-trough decline	-58.03%	-79.85%	+21.82%
Max Drawdown (1Y) Largest decline over 1 year	-10.25%	-11.40%	+1.15%
Max Drawdown (3Y) Largest decline over 3 years	-26.84%	-19.57%	-7.27%
Max Drawdown (5Y) Largest decline over 5 years	-36.32%	-24.24%	-12.08%
Max Drawdown (10Y) Largest decline over 10 years	-41.62%	-38.24%	-3.38%
Current Drawdown Current decline from peak	-1.04%	-1.02%	-0.02%
Average Drawdown Average peak-to-trough decline	-13.82%	-25.09%	+11.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	3.28%	-0.36%

Volatility

VIEIX vs. JANEX - Volatility Comparison

Vanguard Extended Market Index Fund Institutional Shares (VIEIX) has a higher volatility of 6.48% compared to Janus Henderson Enterprise Fund (JANEX) at 4.62%. This indicates that VIEIX's price experiences larger fluctuations and is considered to be riskier than JANEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIEIX	JANEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.48%	4.62%	+1.86%
Volatility (6M) Calculated over the trailing 6-month period	13.35%	11.04%	+2.31%
Volatility (1Y) Calculated over the trailing 1-year period	17.81%	14.14%	+3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.43%	17.73%	+4.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.40%	18.73%	+3.67%

VIEIX vs. JANEX - Expense Ratio Comparison

VIEIX has a 0.05% expense ratio, which is lower than JANEX's 0.79% expense ratio.

Dividends

VIEIX vs. JANEX - Dividend Comparison

VIEIX's dividend yield for the trailing twelve months is around 1.02%, less than JANEX's 7.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JANEX Janus Henderson Enterprise Fund	7.04%	7.51%	7.00%	7.52%	10.51%	15.98%	8.46%	4.45%	6.38%	1.78%	1.64%	3.64%
VIEIX Vanguard Extended Market Index Fund Institutional Shares	1.02%	1.14%	1.10%	1.26%	1.16%	1.14%	1.08%	1.31%	1.67%	1.27%	1.45%	1.37%

Frequently Asked Questions

Can I hold both VIEIX and JANEX in my portfolio?

With a correlation of 0.91, VIEIX and JANEX 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, VIEIX or JANEX?

VIEIX has higher volatility (6.48%) compared to JANEX (4.62%). In terms of maximum drawdown, VIEIX dropped -58.03% vs JANEX's -79.85%.

Which has better risk-adjusted returns?

VIEIX currently has the higher Sharpe Ratio (1.53 vs 0.93), 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.