JSMD vs QQQ
Janus Henderson Small/Mid Cap Growth Alpha ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. JSMD offers more diversification with 123 holdings.
Side-by-Side Comparison
| Metric | JSMD | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.18% | |
| AUM | $1.0B | $496.3B | |
| Dividend Yield | 0.44% | 0.44% | |
| Holdings | 123 | 108 | |
| YTD Return | +15.52% | +16.64% | |
| 1Y Return | +19.23% | +27.27% | |
| 3Y Return (annualized) | +17.32% | +25.96% | |
| 5Y Return (annualized) | +7.78% | +14.54% | |
| Volatility (annualized) | 20.2% | 30.6% | |
| Max Drawdown | -39.0% | -83.0% | |
| Fund Family | Janus Henderson Investors | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Feb 23, 2016 | Mar 10, 1999 |
JSMD vs QQQ Performance
Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) is a ETF from Janus Henderson Investors and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year JSMD returned +19.23% while QQQ returned +27.27%. Year to date, JSMD is up 15.52% versus a gain of 16.64% for QQQ.
Over three years, JSMD compounded at +17.32% per year against +25.96% for QQQ; over five years the annualized figures are +7.78% and +14.54% respectively. Across the full 11-year window we track, JSMD has the edge at +13.76% annualized vs +13.03%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 20.2% for JSMD. 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 -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
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
JSMD and QQQ share 3 holdings out of 220 unique holdings combined, representing a 0.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $12 per year of difference.
Which performed better, JSMD or QQQ?
Over the past year JSMD returned +19.23% vs +27.27% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (11 years), JSMD annualized +13.76% vs +13.03% for QQQ. Past performance does not guarantee future results.
Which is riskier, JSMD or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 20.2% for JSMD. Worst drawdown: JSMD -39.0% vs QQQ -83.0%.
Should I hold both JSMD and QQQ?
JSMD and QQQ have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JSMD and QQQ?
JSMD and QQQ share 3 common holdings with a 0.7% weight overlap. Combined, they hold 220 unique securities.
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.
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