JXX vs SPY
Janus Henderson Transformational Growth ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | JXX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.57% | 0.09% | |
| AUM | $25M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 24 | 505 | |
| YTD Return | +12.54% | +12.68% | |
| 1Y Return | +20.37% | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 23.9% | 15.3% | |
| Max Drawdown | -23.7% | -56.5% | |
| Fund Family | Janus Henderson Investors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 4, 2025 | Jan 22, 1993 |
JXX vs SPY Performance
Janus Henderson Transformational Growth ETF (JXX) is a ETF from Janus Henderson Investors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year JXX returned +20.37% while SPY returned +21.82%. Year to date, JXX is up 12.54% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
JXX has been the more volatile fund, with annualized monthly volatility of 23.9% compared with 15.3% for SPY. 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 -23.7% for JXX and -56.5% for SPY. 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 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JXX charges 0.57% per year while SPY charges 0.09%. On a $10,000 position that is $57 vs $9 annually, a gap of $48 per year that compounds over a long holding period. On income, JXX currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
JXX and SPY share 14 holdings out of 513 unique holdings combined, representing a 11.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, JXX or SPY?
JXX has an expense ratio of 0.57% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $48 per year of difference.
Which performed better, JXX or SPY?
Over the past year JXX returned +20.37% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), JXX annualized +15.46% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, JXX or SPY?
JXX has been the more volatile fund at 23.9% annualized versus 15.3% for SPY. Worst drawdown: JXX -23.7% vs SPY -56.5%.
Should I hold both JXX and SPY?
JXX and SPY have a monthly-return correlation of 0.90, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between JXX and SPY?
JXX and SPY share 14 common holdings with a 11.8% weight overlap. Combined, they hold 513 unique securities.
Which pays a higher dividend, JXX or SPY?
JXX yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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