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Launched · SEC filings

Janus Henderson Small/Mid Cap Growth Alpha ETF

JSMDNasdaqJanus HendersonD

$88.19−0.52 (−0.59%)

At close: Nov 2, 2026, 4:00 PM ET

D36/ 100

Rank 7 of 8 in US Stocks

D36/100Rank 7 of 8inUS Stocks
Intraday session: down, 79 prints from 88.71 to 88.19. Range 88.19 to 89.69. Use the arrow keys to read each point.88.5089.0089.2589.5089.7510 AM12 PM2 PM4 PM
Expense ratio
0.30%
Fund size
$1.06B
1Y total return
+6.1%
Yield · Last 12 months
0.37%
Holdings
124
Avg volume · 30D
60.4K sh
52W range
low $75.30high $101.70
Launched
Filings
SEC EDGAR

The ETF.net JSMD Grade

Based on 5 of 6 pillars

D

Score 36 out of 100

Category
US Stocks⁠
Rank
7 of 8
Six-pillar profile for JSMD. Scores out of 100: Cost 13, Risk 18, Mission not scored, Tradability 68, Holdings 72, Durability 64. Strongest: Holdings (72). Weakest: Cost (13). Based on 5 of 6 pillars.

Score 36 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F13 out of 100
    Rank 8 of 8

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F18 out of 100
    Rank 8 of 8

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B68 out of 100
    Rank 2 of 8

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A72 out of 100
    Rank 2 of 8

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B64 out of 100
    Rank 4 of 8

Our read on JSMD

ETF.net Research

In short

DSince 2016, JSMD has run one quantitative screen on small- and mid-cap growth: roughly 300 names, measured against the Russell 2500 Growth Index, in the tier of companies sitting well below the mega-cap giants.

Stated mandate

JSMD seeks long-term capital growth. It actively and systematically selects small- and mid-cap growth companies using quantitative methods and fundamental research, with portfolio optimization intended to manage risk.

Why people hold it

  • A quant model does the picking, backed by fundamental research and portfolio optimization for risk. Active stock selection, run by rules rather than a manager's gut.
  • Roughly 300 holdings across small- and mid-cap growth, so no single name carries the fund in a corner of the market where individual stocks swing hard.
  • Live since 2016, a multibillion-dollar asset base and steady volume mean the plumbing is well established for a strategy this specialized.
  • Lands in the upper half of its peer group on our full review, holding its own alongside plain broad-market trackers like ILCB and GUSA.

Worth knowing

  • At 0.30% a year it prices above the 0.20% peer median, and far above bare-bones beta such as ILCB at 0.03%. The screen is what you're paying for.
  • Small- and mid-cap growth is one of the choppier lanes in US equities, and a growth-only screen can sit out of favor for long stretches.
  • Distributions land quarterly, but the mandate is long-term capital growth; income is a byproduct, not the point.

JSMD Performance

Launched Feb 23, 2016

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

JSMD$10,614
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. JSMD $10,614. SPY $11,199. Use the arrow keys to read each point.$9,000$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for JSMD. Periods over one year show the average yearly return.
PeriodJSMD
Year to date+9.0%
1 month−0.7%
3 months−4.2%
1 year+6.1%
3 yearsper year+18.0%
5 yearsper year+6.0%
10 yearsper year+12.4%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for JSMD
YearReturn barJSMD
2026 YTD+9.0%
2025+9.2%
2024+15.1%
2023+26.8%
2022−22.8%
2021+8.4%
2020+30.8%

JSMD in the news

JSMD Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.37%Last 12 months
Payout per share
$0.33Last 12 months
Last payment
$0.05 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 31, 2017 $0.02; Jun 30, 2017 $0.01; Sep 29, 2017 $0.03; Dec 22, 2017 $0.05; Mar 29, 2018 $0.02; Jun 29, 2018 $0.05; Sep 28, 2018 $0.02; Dec 20, 2018 $0.10; Mar 29, 2019 $0.01; Jun 28, 2019 $0.04; Sep 30, 2019 $0.03; Dec 19, 2019 $0.07; Mar 31, 2020 $0.03; Jun 30, 2020 $0.01; Sep 30, 2020 $0.02; Dec 21, 2020 $0.09; Mar 31, 2021 $0.02; Jun 30, 2021 $0.02; Sep 30, 2021 $0.07; Dec 20, 2021 $0.07; Mar 31, 2022 $0.02; Jun 30, 2022 $0.05; Sep 30, 2022 $0.05; Dec 20, 2022 $0.08; Mar 31, 2023 $0.06; Jun 30, 2023 $0.07; Sep 29, 2023 $0.07; Dec 20, 2023 $0.10; Mar 28, 2024 $0.07; Jun 28, 2024 $0.06; Sep 30, 2024 $0.04; Dec 20, 2024 $0.40; Mar 31, 2025 $0.07; Jun 30, 2025 $0.13; Sep 30, 2025 $0.12; Dec 19, 2025 $0.12; Mar 31, 2026 $0.08; Jun 30, 2026 $0.08; Sep 30, 2026 $0.05. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 30, 2026Oct 6, 2026$0.05
Jun 30, 2026Jul 7, 2026$0.08
Mar 31, 2026Apr 7, 2026$0.08
Dec 19, 2025Dec 26, 2025$0.12
Sep 30, 2025Oct 6, 2025$0.12
Jun 30, 2025Jul 7, 2025$0.13
Mar 31, 2025Apr 4, 2025$0.07
Dec 20, 2024Dec 27, 2024$0.40
Sep 30, 2024Oct 4, 2024$0.04
Jun 28, 2024Jul 3, 2024$0.06
Mar 28, 2024Apr 4, 2024$0.07
Dec 20, 2023Dec 27, 2023$0.10

See all 43 payments⁠

$10,000 in JSMD 10 years ago paid $914 in dividends.⁠

JSMD Risk

Risk pillarF18 out of 100Rank 8 of 8 in US Stocks
How much the fund’s monthly returns vary, scaled to a year.
19.1%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.73
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−32.2%
Trough Jun 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.16
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

JSMD Cost

Compare JSMD and GSUS

Overpaying vs GSUS, cheapest in US Stocks

$4,669

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • JSMD 0.30%

    $6,149

  • GSUS 0.07% Cheapest

    $1,480

$10,000
30 years

Cost over time

  • JSMD 0.30%
  • GSUS 0.07%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530JSMD $6,149GSUS $1,480

Year by year

YearJSMDGSUSOverpaying
10$545$128$417
20$2,113$503$1,610
30$6,149$1,480$4,669

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