WARAX vs. JNSGX

Last updated Aug 1, 2026

WARAX (Allspring Absolute Return Fund) and JNSGX (Janus Henderson Global Allocation Fund - Growth) are both Global Allocation funds. Over the past 10 years, WARAX returned 5.06%/yr vs 8.21%/yr for JNSGX. Their 0.74 correlation means they have sometimes moved together and sometimes differently. WARAX charges 0.70%/yr vs 0.26%/yr for JNSGX.

Performance

WARAX vs. JNSGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Absolute Return Fund (WARAX) and Janus Henderson Global Allocation Fund - Growth (JNSGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WARAX achieves a 12.25% return, which is significantly higher than JNSGX's 8.33% return. Over the past 10 years, WARAX has underperformed JNSGX with an annualized return of 5.06%, while JNSGX has yielded a comparatively higher 8.21% annualized return.

WARAX

• 1D: 0.41%
• 1M: -0.24%
• 6M: 3.78%
• YTD: 12.25%
• 1Y: 22.25%
• 3Y*: 10.27%
• 5Y*: 6.88%
• 10Y*: 5.06%
• ALL TIME*: 4.24%

JNSGX

• 1D: 1.83%
• 1M: -1.08%
• 6M: 5.62%
• YTD: 8.33%
• 1Y: 17.57%
• 3Y*: 13.45%
• 5Y*: 6.14%
• 10Y*: 8.21%
• ALL TIME*: 6.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JNSGX Janus Henderson Global Allocation Fund - Growth	$0.00	$0.00	$0.00
WARAX Allspring Absolute Return Fund	$0.00	$0.00	$0.00

WARAX vs. JNSGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WARAX Allspring Absolute Return Fund	12.25%	8.07%	5.93%	12.53%	-2.75%	2.25%	-3.25%	11.65%	-5.78%	12.11%
JNSGX Janus Henderson Global Allocation Fund - Growth	8.33%	18.68%	11.17%	13.71%	-17.82%	10.38%	14.54%	19.94%	-8.20%	19.73%

Correlation

The correlation between WARAX and JNSGX is 0.50, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.50
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (10Y) Provides a long-term view across more market conditions.	0.69
Correlation (All Time) Calculated using the full available price history since Mar 1, 2012	0.74

Over the past year, the correlation between WARAX and JNSGX has dropped to 0.50 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

WARAX vs. JNSGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WARAX

WARAX Risk / Return Rank: 86
WARAX Sharpe Ratio Rank: 89
WARAX Sortino Ratio Rank: 84
WARAX Omega Ratio Rank: 84
WARAX Calmar Ratio Rank: 91
WARAX Martin Ratio Rank: 82

JNSGX

JNSGX Risk / Return Rank: 52
JNSGX Sharpe Ratio Rank: 48
JNSGX Sortino Ratio Rank: 48
JNSGX Omega Ratio Rank: 48
JNSGX Calmar Ratio Rank: 52
JNSGX Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WARAX vs. JNSGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Absolute Return Fund (WARAX) and Janus Henderson Global Allocation Fund - Growth (JNSGX). 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.

	WARAX	JNSGX	Difference
Sharpe ratio: Return per unit of total volatility	2.22	1.33	+0.90
Sortino ratio: Return per unit of downside risk	3.00	1.92	+1.08
Omega ratio: Gain probability vs. loss probability	1.40	1.25	+0.16
Calmar ratio: Return relative to maximum drawdown	3.45	1.92	+1.53
Martin ratio: Return relative to average drawdown	10.08	7.95	+2.13

WARAX vs. JNSGX - Sharpe Ratio Comparison

The current WARAX Sharpe Ratio is 2.22, which is higher than the JNSGX Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of WARAX and JNSGX, 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

WARAX vs. JNSGX - Drawdown Comparison

The maximum WARAX drawdown since its inception was -23.16%, smaller than the maximum JNSGX drawdown of -50.39%. Use the drawdown chart below to compare losses from any high point for WARAX and JNSGX.

Drawdown Indicators

	WARAX	JNSGX	Difference
Max Drawdown Largest peak-to-trough decline	-23.16%	-50.39%	+27.23%
Max Drawdown (1Y) Largest decline over 1 year	-6.17%	-8.48%	+2.31%
Max Drawdown (3Y) Largest decline over 3 years	-6.17%	-13.70%	+7.53%
Max Drawdown (5Y) Largest decline over 5 years	-13.05%	-26.30%	+13.25%
Max Drawdown (10Y) Largest decline over 10 years	-23.16%	-29.47%	+6.31%
Current Drawdown Current decline from peak	-5.79%	-2.07%	-3.72%
Average Drawdown Average peak-to-trough decline	-3.84%	-7.97%	+4.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	2.04%	+0.07%

Volatility

WARAX vs. JNSGX - Volatility Comparison

The current volatility for Allspring Absolute Return Fund (WARAX) is 3.02%, while Janus Henderson Global Allocation Fund - Growth (JNSGX) has a volatility of 3.72%. This indicates that WARAX experiences smaller price fluctuations and is considered to be less risky than JNSGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WARAX	JNSGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.02%	3.72%	-0.70%
Volatility (6M) Calculated over the trailing 6-month period	7.80%	10.55%	-2.75%
Volatility (1Y) Calculated over the trailing 1-year period	9.57%	12.24%	-2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.91%	13.25%	-5.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.99%	13.26%	-5.27%

WARAX vs. JNSGX - Expense Ratio Comparison

WARAX has a 0.70% expense ratio, which is higher than JNSGX's 0.26% expense ratio.

Dividends

WARAX vs. JNSGX - Dividend Comparison

WARAX's dividend yield for the trailing twelve months is around 1.78%, less than JNSGX's 6.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JNSGX Janus Henderson Global Allocation Fund - Growth	6.17%	6.68%	9.20%	1.46%	4.67%	16.70%	4.75%	7.16%	5.35%	6.43%	2.55%	10.31%
WARAX Allspring Absolute Return Fund	1.78%	2.00%	10.90%	2.80%	2.34%	3.23%	3.34%	3.38%	2.66%	1.77%	0.76%	1.35%

Frequently Asked Questions

Can I hold both WARAX and JNSGX in my portfolio?

WARAX and JNSGX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WARAX or JNSGX?

JNSGX has higher volatility (3.72%) compared to WARAX (3.02%). In terms of maximum drawdown, WARAX dropped -23.16% vs JNSGX's -50.39%.

Which has better risk-adjusted returns?

WARAX currently has the higher Sharpe Ratio (2.22 vs 1.33), 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.