JSMD vs QQQ
Janus Henderson Small/Mid Cap Growth Alpha ETF vs Invesco QQQ Trust, Series 1
Which is better, JSMD or QQQ?
Small Cap Growth against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. JSMD is less concentrated, with 17.0% of the fund in its ten largest positions against 46.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | JSMD | QQQ |
|---|---|---|
| Expense Ratio | 0.30% | 0.18%Best |
| AUM | $1.0B | $483.5B |
| Dividend Yield | 0.44% | 0.44% |
| Holdings | 123 | 107 |
| YTD Return | +10.35% | +17.21%Best |
| 1Y Return | +7.75% | +22.10%Best |
| 3Y Return (annualized) | +15.96% | +25.27%Best |
| 5Y Return (annualized) | +6.67% | +14.60%Best |
| Volatility (annualized) | 20.1% | 18.8%Best |
| Max Drawdown | -39.0% | -35.1%Best |
| $10,000 over 5 years | $13,811 | $19,766Best |
| Top 10 Weight | 17.0%Best | 46.5% |
| Fund Family | Janus Henderson Investors | Invesco (US) |
| Category | Equity | Equity |
| Style | Small Cap Growth | Large Cap Growth |
| Inception | Feb 23, 2016 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Feb 25, 2016 to Sep 17, 2026 (10.6 years).
JSMD vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 10.6 years both funds cover.
JSMD vs QQQ Performance
Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) is an ETF from Janus Henderson Investors and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year JSMD returned +7.75% while QQQ returned +22.10%. Year to date, JSMD is up 10.35% versus a gain of 17.21% for QQQ.
Over three years, JSMD compounded at +15.96% per year against +25.27% for QQQ; over five years the annualized figures are +6.67% and +14.60% respectively. Across the full 11-year window we track, QQQ has the edge at +20.48% annualized vs +13.17%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JSMD has been the more volatile fund, with annualized monthly volatility of 20.1% compared with 18.8% for QQQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -39.0% for JSMD and -35.1% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
JSMD charges 0.30% per year while QQQ charges 0.18%. On a $10,000 position that is $30 vs $18 annually, a gap of $12 per year that compounds over a long holding period. On income, JSMD currently yields 0.44% against 0.44% for QQQ.
Holdings Overlap
We hold position weights for 121 holdings in JSMD and 102 in QQQ, totalling 100.0% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 121 positions we hold weights for in JSMD and 102 in QQQ, against full books of 123 and 107.
What only one of them owns
Our book lists 96 positions for QQQ that do not appear in our book for JSMD (97.5% of the fund), and 118 for JSMD that do not appear in QQQ (98.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of JSMD and QQQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, JSMD or QQQ?
JSMD has an expense ratio of 0.30% while QQQ charges 0.18%. QQQ is the cheaper option, by $12 a year on a $10,000 investment.
Which performed better, JSMD or QQQ?
Over the past year JSMD returned +7.75% vs +22.10% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (11 years), JSMD annualized +13.17% vs +20.48% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JSMD or QQQ?
JSMD has been the more volatile fund at 20.1% annualized versus 18.8% for QQQ. Worst drawdown: JSMD -39.0% vs QQQ -35.1%.
Should I hold both JSMD and QQQ?
JSMD and QQQ have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, JSMD or QQQ?
JSMD yields 0.44% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
Is QQQ better than JSMD?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. JSMD is less concentrated, with 17.0% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.