JSML vs QQQ
Janus Henderson Small Cap Growth Alpha ETF vs Invesco QQQ Trust, Series 1
Which is better, JSML 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. JSML is less concentrated, with 17.3% 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 | JSML | QQQ |
|---|---|---|
| Expense Ratio | 0.30% | 0.18%Best |
| AUM | $322M | $486.1B |
| Dividend Yield | 1.16% | 0.44% |
| Holdings | 122 | 107 |
| YTD Return | +21.60%Best | +17.54% |
| 1Y Return | +23.67% | +25.59%Best |
| 3Y Return (annualized) | +19.65% | +24.63%Best |
| 5Y Return (annualized) | +5.88% | +14.18%Best |
| Volatility (annualized) | 22.9% | 18.8%Best |
| Max Drawdown | -39.6% | -35.1%Best |
| $10,000 over 5 years | $13,307 | $19,407Best |
| Top 10 Weight | 17.3%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 4, 2026 (10.5 years).
JSML 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 10.5 years both funds cover.
JSML vs QQQ Performance
Janus Henderson Small Cap Growth Alpha ETF (JSML) is an ETF from Janus Henderson Investors and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year JSML returned +23.67% while QQQ returned +25.59%. Year to date, JSML is up 21.60% versus a gain of 17.54% for QQQ.
Over three years, JSML compounded at +19.65% per year against +24.63% for QQQ; over five years the annualized figures are +5.88% and +14.18% respectively. Across the full 11-year window we track, QQQ has the edge at +20.59% annualized vs +13.28%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JSML has been the more volatile fund, with annualized monthly volatility of 22.9% 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 -39.6% for JSML 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 0.79. 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 1.16% against 0.44% for QQQ.
Holdings Overlap
We hold position weights for 120 holdings in JSML 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 120 positions we hold weights for in JSML and 102 in QQQ, against full books of 122 and 107.
What only one of them owns
Our book lists 96 positions for QQQ that do not appear in our book for JSML (97.5% of the fund), and 115 for JSML that do not appear in QQQ (95.7%).
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 JSML 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, JSML or QQQ?
JSML 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, JSML or QQQ?
Over the past year JSML returned +23.67% vs +25.59% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (11 years), JSML annualized +13.28% vs +20.59% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JSML or QQQ?
JSML has been the more volatile fund at 22.9% annualized versus 18.8% for QQQ. Worst drawdown: JSML -39.6% vs QQQ -35.1%.
Should I hold both JSML and QQQ?
JSML and QQQ have a monthly-return correlation of 0.79, 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, JSML or QQQ?
JSML yields 1.16% while QQQ yields 0.44%, so JSML currently pays the higher dividend yield.
Is QQQ better than JSML?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. JSML is less concentrated, with 17.3% 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.