VUG vs. JSMD

Last updated Jun 14, 2026

VUG (Vanguard Growth ETF) and JSMD (Janus Henderson Small/Mid Cap Growth Alpha ETF) are both exchange-traded funds - VUG is a Large Cap Growth Equities fund tracking the CRSP US Large Cap Growth Index, while JSMD is a Mid Cap Growth Equities fund tracking the Janus Small Mid Cap Growth Alpha Index. Both are passively managed. Over the past 10 years, VUG returned 17.90%/yr vs 13.65%/yr for JSMD. A 0.75 correlation means they provide meaningful diversification when combined. VUG charges 0.03%/yr vs 0.30%/yr for JSMD.

Performance

VUG vs. JSMD - Performance Comparison

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

Returns By Period

In the year-to-date period, VUG achieves a 4.99% return, which is significantly lower than JSMD's 18.04% return. Over the past 10 years, VUG has outperformed JSMD with an annualized return of 17.90%, while JSMD has yielded a comparatively lower 13.65% annualized return.

VUG

• 1D: 0.18%
• 1M: -2.47%
• YTD: 4.99%
• 6M: 5.66%
• 1Y: 22.83%
• 3Y*: 23.38%
• 5Y*: 13.78%
• 10Y*: 17.90%

JSMD

• 1D: 0.29%
• 1M: 4.71%
• YTD: 18.04%
• 6M: 15.17%
• 1Y: 30.30%
• 3Y*: 17.13%
• 5Y*: 7.74%
• 10Y*: 13.65%

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

VUG vs. JSMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VUG Vanguard Growth ETF	4.99%	19.40%	32.69%	46.83%	-33.16%	27.35%	40.25%	37.03%	-3.32%	27.72%
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	18.04%	9.25%	15.08%	26.81%	-22.84%	8.40%	30.79%	31.05%	-4.73%	24.46%

Correlation

The correlation between VUG and JSMD is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Feb 25, 2016	0.75

The correlation between VUG and JSMD has been stable across timeframes, ranging from 0.68 to 0.77 - a consistent structural relationship.

VUG vs. JSMD - Sectors Allocation Comparison

Sectors	VUG	JSMD
Technology	53.5%	28.1%
Communication Services	17.3%	2.9%
Consumer Cyclical	12.2%	8.7%
Healthcare	4.6%	18.7%
Financial Services	4.3%	8.9%
Industrials	3.6%	23.3%
Consumer Defensive	1.5%	2.5%
Real Estate	1.0%	2.8%
Utilities	0.9%	-
Basic Materials	0.6%	3.0%
Energy	0.4%	1.1%

Return for Risk

VUG vs. JSMD — Risk / Return Rank

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

VUG

VUG Risk / Return Rank: 36
VUG Sharpe Ratio Rank: 41
VUG Sortino Ratio Rank: 38
VUG Omega Ratio Rank: 40
VUG Calmar Ratio Rank: 30
VUG Martin Ratio Rank: 33

JSMD

JSMD Risk / Return Rank: 35
JSMD Sharpe Ratio Rank: 34
JSMD Sortino Ratio Rank: 33
JSMD Omega Ratio Rank: 32
JSMD Calmar Ratio Rank: 37
JSMD Martin Ratio Rank: 39

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.

VUG vs. JSMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Growth ETF (VUG) 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.

	VUG	JSMD	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.07	+0.22
Sortino ratio: Return per unit of downside risk	1.78	1.55	+0.23
Omega ratio: Gain probability vs. loss probability	1.23	1.19	+0.03
Calmar ratio: Return relative to maximum drawdown	1.29	1.60	-0.32
Martin ratio: Return relative to average drawdown	4.43	5.42	-0.99

VUG vs. JSMD - Sharpe Ratio Comparison

The current VUG Sharpe Ratio is 1.29, which is comparable to the JSMD Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of VUG 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

VUG vs. JSMD - Drawdown Comparison

The maximum VUG drawdown since its inception was -50.68%, which is greater than JSMD's maximum drawdown of -38.98%. Use the drawdown chart below to compare losses from any high point for VUG and JSMD.

Drawdown Indicators

	VUG	JSMD	Difference
Max Drawdown Largest peak-to-trough decline	-50.68%	-38.98%	-11.70%
Max Drawdown (1Y) Largest decline over 1 year	-16.53%	-14.86%	-1.67%
Max Drawdown (3Y) Largest decline over 3 years	-22.85%	-24.01%	+1.16%
Max Drawdown (5Y) Largest decline over 5 years	-35.61%	-32.18%	-3.43%
Max Drawdown (10Y) Largest decline over 10 years	-35.61%	-38.98%	+3.37%
Current Drawdown Current decline from peak	-5.56%	-1.17%	-4.39%
Average Drawdown Average peak-to-trough decline	-7.09%	-7.47%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.79%	4.43%	+0.36%

Volatility

VUG vs. JSMD - Volatility Comparison

The current volatility for Vanguard Growth ETF (VUG) is 5.73%, while Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) has a volatility of 8.22%. This indicates that VUG 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

	VUG	JSMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.73%	8.22%	-2.49%
Volatility (6M) Calculated over the trailing 6-month period	13.00%	17.21%	-4.21%
Volatility (1Y) Calculated over the trailing 1-year period	16.46%	22.48%	-6.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.30%	22.98%	-0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.48%	22.82%	-1.34%

VUG vs. JSMD - Expense Ratio Comparison

VUG has a 0.03% expense ratio, which is lower than JSMD's 0.30% expense ratio.

Dividends

VUG vs. JSMD - Dividend Comparison

VUG's dividend yield for the trailing twelve months is around 0.39%, less than JSMD's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF	0.47%	0.54%	0.76%	0.44%	0.40%	0.28%	0.24%	0.32%	0.53%	0.30%	0.36%	0.00%
VUG Vanguard Growth ETF	0.39%	0.41%	0.47%	0.58%	0.70%	0.48%	0.66%	0.95%	1.32%	1.14%	1.39%	1.30%

Frequently Asked Questions

Can I hold both VUG and JSMD in my portfolio?

VUG and JSMD have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VUG or JSMD?

JSMD has higher volatility (8.22%) compared to VUG (5.73%). In terms of maximum drawdown, VUG dropped -50.68% vs JSMD's -38.98%.

Which ETF is better, VUG or JSMD?

On 10-year performance, VUG leads with 17.90% vs 13.65% for JSMD. On fees, VUG is cheaper at 0.03% per year. On volatility, VUG has been the lower-risk option at 5.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VUG or JSMD?

Over the 10-year period, VUG has performed better with a 17.90% return vs 13.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VUG or JSMD?

VUG is cheaper with a 0.03% expense ratio, compared with 0.30% for JSMD.

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

JSMD has the higher dividend yield at 0.47%, compared with 0.39% for VUG.

What is the main difference between VUG and JSMD?

VUG is categorized as Large Cap Growth Equities, while JSMD is Mid Cap Growth Equities. VUG tracks CRSP US Large Cap Growth Index, while JSMD tracks Janus Small Mid Cap Growth Alpha Index. They also come from different issuers: Vanguard and Janus Henderson. Their fees differ too: 0.03% for VUG and 0.30% for JSMD.

Which has better risk-adjusted returns?

VUG currently has the higher Sharpe Ratio (1.29 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.