JSML vs QQQ
Janus Henderson Small Cap Growth Alpha ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. JSML delivered stronger 1-year returns. JSML offers more diversification with 121 holdings.
Side-by-Side Comparison
| Metric | JSML | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.18% | |
| AUM | $322M | $455.8B | |
| Dividend Yield | 0.86% | 0.41% | |
| Holdings | 122 | 108 | |
| YTD Return | +24.03% | +17.85% | |
| 1Y Return | +33.79% | +26.45% | |
| 3Y Return (annualized) | +19.26% | +26.07% | |
| 5Y Return (annualized) | +6.91% | +15.16% | |
| Volatility (annualized) | 22.9% | 30.6% | |
| Max Drawdown | -39.6% | -83.0% | |
| Fund Family | Janus Henderson Investors | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Feb 23, 2016 | Mar 10, 1999 |
JSML vs QQQ Performance
Janus Henderson Small Cap Growth Alpha ETF (JSML) is a ETF from Janus Henderson Investors and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year JSML returned +33.79% while QQQ returned +26.45%. Year to date, JSML is up 24.03% versus a gain of 17.85% for QQQ.
Over three years, JSML compounded at +19.26% per year against +26.07% for QQQ; over five years the annualized figures are +6.91% and +15.16% respectively. Across the full 11-year window we track, JSML has the edge at +13.58% annualized vs +13.09%. 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 22.9% for JSML. 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 -39.6% for JSML 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
JSML 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, JSML currently yields 0.86% against 0.41% for QQQ.
Holdings Overlap
JSML and QQQ share 0 holdings out of 224 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, JSML or QQQ?
JSML 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, JSML or QQQ?
Over the past year JSML returned +33.79% vs +26.45% for QQQ, so JSML leads on 1-year performance. Over the longest common window we track (11 years), JSML annualized +13.58% vs +13.09% for QQQ. Past performance does not guarantee future results.
Which is riskier, JSML or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 22.9% for JSML. Worst drawdown: JSML -39.6% vs QQQ -83.0%.
Should I hold both JSML and QQQ?
JSML and QQQ have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JSML and QQQ?
JSML and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 224 unique securities.
Which pays a higher dividend, JSML or QQQ?
JSML yields 0.86% while QQQ yields 0.41%, so JSML currently pays the higher dividend yield.
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