AAUA vs JSMD: Grades, Fees and Holdings Compared

Alpha Architect US Equity 3 ETF

AAUABCboe

Janus Henderson Small/Mid Cap Growth Alpha ETF

JSMDDNasdaq

Overlap

0.0%by weight

Expense ratio

AAUA −0.21pt a year

AAUA0.09%JSMD0.30%

Avg volume · 30D

JSMD 14.0×the volume

AAUA4.32KJSMD60.4K

AAUA vs JSMD Performance

Jul 31, 2026 – Oct 30, 2026

+1.1%AAUA−4.2%JSMD

Expense ratio: AAUA 0.09%, better; JSMD 0.30%
Fund size: AAUA $357M; JSMD $1.06B
1Y total return: AAUA No data; JSMD +6.1%
Yield (12M): AAUA No data; JSMD 0.37%
Holdings: AAUA 380; JSMD 124
Avg volume (30D): AAUA 4.32K sh; JSMD 60.4K sh, better
NAV per share: AAUA $57.83; JSMD $90.96
52W range

ETF.net Grade

Pillar letters and Scores for AAUA, JSMD, with each pillar’s weight
Pillar	AAUA	JSMD
Cost30% weight	B59Higher	F13
Mission25% weight	Not scored	Not scored
Risk15% weight	A77Higher	F18
Tradability15% weight	C40	B68Higher
Holdings10% weight	C44	A72Higher
Durability5% weight	F24	B64Higher

Rank among US Stocks funds

How we build Categories ›

Same Category. AAUA and JSMD are both graded against the same 7 US Stocks funds, so their Grades compare head to head.

US Stocks⁠

Category · 7 funds

See all 7 ›

AAUA ranks 4th and JSMD 6th of 7 funds in the US Stocks Category.

Rank 1AGSUSGoldman Sachs MarketBeta U.S. Equity ETFScore 80
Rank 2BGUSAGoldman Sachs MarketBeta US 1000 Equity ETFScore 66
Rank 3BAAEQAlpha Architect US Equity 2 ETFScore 62
Rank 4BAAUAAlpha Architect US Equity 3 ETFScore 54
Rank 5CSTXKStrive Small-Cap ETFScore 50
Rank 6DJSMDJanus Henderson Small/Mid Cap Growth Alpha ETFScore 36
Rank 7DTEXNiShares Texas Equity ETFScore 35

Our read on each fund

ETF.net Research

AAUABAlpha Architect US Equity 3 ETF

JSMDDJanus Henderson Small/Mid Cap Growth Alpha ETF

In short

AAUA No data

JSMD Since 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

AAUA No data

JSMD 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

AAUA No data

JSMD 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

AAUA No data

JSMD 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.

Full AAUA profile⁠

Full JSMD profile⁠

AAUA vs JSMD Holdings

How AAUA and JSMD differ

Overlap by weight

0.0%

Shared holdings make up 1.9% of JSMD and 0.0% of AAUA.

Level by level

Holdings1 in both0.0%
Sector11 Sectors69.4%
Countryby domicile97.5%
Asset classEquity100%

Sector

Sector weights in AAUA and JSMD, widest gap first
Sector	More in AAUAMore in JSMD	AAUA	JSMD
Health Care	JSMD +16.6 points	9.2%	25.8%
Technology	AAUA +15.2 points	40.8%	25.6%
Industrials	JSMD +9.4 points	7.8%	17.2%
Communication	AAUA +6.5 points	9.6%	3.1%
Energy	AAUA +2.7 points	3.7%	1.0%
Consumer Staples	AAUA +2.3 points	4.1%	1.8%
Financials	AAUA +2.1 points	11.3%	9.2%
Consumer Discretionary	JSMD +1.9 points	8.4%	10.3%
Utilities	AAUA +1.7 points	1.7%	0.0%
Materials	JSMD +1.5 points	1.7%	3.2%
Real Estate	JSMD +1.2 points	1.7%	2.9%

Country, concentration and asset class

Country by domicile

Country weights in AAUA and JSMD, widest gap first
Country	More in AAUAMore in JSMD	AAUA	JSMD
United States	AAUA +2.0 points	99.5%	97.5%
Canada	JSMD +1.5 points	0.0%	1.5%
United Kingdom	JSMD +1.0 points	0.0%	1.0%
Other countries (4)	AAUA +0.5 points	0.5%	0.0%

Concentration

Weight in the 10 largest Holdings

AAUA40.4%
JSMD19.5%

Securities held

AAUA379
JSMD123

Asset class

AAUA: Equity
JSMD: Equity

Holdings

Only in AAUA378
In both1
Only in JSMD122

Only in AAUA

378 securities, 99.9% of AAUA by weight

NVIDIA Corp7.02%
Apple Inc6.87%
Microsoft Corp5.38%
State Street SPDR Portfolio S&P 500 ETF4.82%
iShares Core S&P 500 ETF4.81%
Amazon.com Inc3.31%
Alphabet Inc2.29%
Broadcom Inc2.16%
Meta Platforms Inc1.91%
Alphabet Inc1.85%
Eli Lilly & Co1.54%
Tesla Inc1.53%
Micron Technology Inc1.45%
Berkshire Hathaway Inc1.30%
JPMorgan Chase & Co.1.23%
Advanced Micro Devices Inc1.21%
ExxonMobil Holdings Corp1.10%
Johnson & Johnson1.02%
Visa Inc0.97%
AbbVie Inc0.71%
Walmart Inc0.69%
Chevron Corp0.68%
Mastercard Inc0.66%
Cisco Systems Inc0.63%
Coca-Cola Co/The0.63%
Palantir Technologies Inc0.59%
Merck & Co Inc0.58%
Costco Wholesale Corp0.50%
Intel Corp0.49%
Philip Morris International Inc0.48%
Bank of America Corp0.47%
Applied Materials Inc0.47%
Procter & Gamble Co/The0.46%
Palo Alto Networks Inc0.46%
Caterpillar Inc0.46%
UnitedHealth Group Inc0.46%
Lam Research Corp0.46%
Texas Instruments Inc0.42%
Goldman Sachs Group Inc/The0.41%
RTX Corp0.41%
Ge Aerospace0.40%
Crowdstrike Holdings Inc0.39%
Amgen Inc0.37%
Morgan Stanley0.37%
Thermo Fisher Scientific Inc0.36%
GE Vernova Inc0.36%
Analog Devices Inc0.36%
Home Depot Inc/The0.35%
Verizon Communications Inc0.34%
Welltower Inc0.34%

Only in JSMD

122 securities, 98.0% of JSMD by weight

Ryman Hospitality Properties, Inc.2.07%
Commvault Systems, Inc.2.03%
Qualys, Inc.1.97%
Concentra Group Holdings Parent, Inc.1.97%
Halozyme Therapeutics, Inc.1.95%
Maplebear Inc.1.92%
Medpace Holdings, Inc.1.92%
Exelixis, Inc.1.89%
Equitable Holdings, Inc.1.87%
StepStone Group, Inc. Class A1.49%
Lionsgate Studios Corp.1.47%
Cytokinetics, Incorporated1.38%
TriNet Group, Inc.1.38%
H&R Block, Inc.1.36%
Teradata Corporation1.33%
Affirm Holdings, Inc. Class A1.32%
Arcutis Biotherapeutics Inc1.30%
Vail Resorts, Inc.1.29%
Landstar System, Inc.1.24%
CarGurus, Inc. Class A1.21%
Guardant Health, Inc.1.18%
GoDaddy, Inc. Class A1.16%
Remitly Global, Inc.1.16%
PagerDuty, Inc.1.15%
Lattice Semiconductor Corporation1.13%
Sterling Infrastructure, Inc.1.12%
Rubrik, Inc. Class A1.12%
Wendy's Company1.06%
Brinker International, Inc.1.05%
BrightSpring Health Services, Inc.1.03%
Vita Coco Company, Inc.0.99%
PTC Therapeutics, Inc.0.98%
Neurocrine Biosciences, Inc.0.96%
Woodward, Inc.0.96%
Kontoor Brands, Inc.0.96%
Frontdoor, Inc.0.95%
Krystal Biotech, Inc.0.95%
Vericel Corporation0.94%
Progyny, Inc.0.94%
Mercury Systems, Inc.0.93%
Cactus, Inc. Class A0.93%
nVent Electric plc0.92%
Delek US Holdings Inc0.89%
TG Therapeutics, Inc.0.87%
EnerSys0.86%
Onto Innovation, Inc.0.85%
Veracyte, Inc.0.84%
Carpenter Technology Corporation0.81%
Sanmina Corporation0.81%
Victoria's Secret & Company0.81%

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in AAUA and JSMD, widest gap first
Holding	More in AAUAMore in JSMD	AAUA	JSMD
Gen Digital IncGEN	JSMD +1.88 points	0.03%	1.91%

All AAUA holdings⁠All 122 JSMD holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AAUA vs JSMD Cost

Overpaying JSMD vs AAUA

$4,251

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

AAUA 0.09%
$1,898
JSMD 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

AAUA 0.09%
JSMD 0.30%
Overpaying

Year by year

Year	AAUA	JSMD	Overpaying
10	$165	$545	$380
20	$646	$2,113	$1,467
30	$1,898	$6,149	$4,251

Expense ratio

0.09%AAUA, cheaper
0.30%JSMD

AAUA0.09%JSMD0.30%

0.07%0.30%

Middle half of US Stocks funds
Median 0.10%

AAUA 2nd cheapest of 7 funds

JSMD 7th cheapest of 7 funds

AAUA vs JSMD Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AAUA No data; JSMD 0.37%
Payout (12M): AAUA None; JSMD $0.33
Last payment: AAUA No data; JSMD $0.05
Ex-dividend: AAUA No data; JSMD Sep 30, 2026
Paid on: AAUA No data; JSMD Oct 6, 2026
Frequency: AAUA No data; JSMD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

AAUAAll AAUA payments⁠

No distribution history available.

JSMDQuarterly · 39 paymentsAll JSMD payments⁠

AAUA vs JSMD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AAUA No dataJSMD 19.1%
Return per unit of riskSharpe ratio, 3 years: AAUA No dataJSMD 0.73
Worst fallMax drawdown, 5 years: AAUA No dataJSMD −32.2%
Market sensitivityBeta, 5 years: AAUA 1.03JSMD 1.16; Market = 1

AAUA and JSMD in the news

All news⁠

ETF Filings
Janus Henderson International Core Alpha ETF prospectus takes effect at 0.35%
Sep 14, 2026JSMD

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AAUA vs JSMD

In short

Stated mandate

Why people hold it

Worth knowing

How AAUA and JSMD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AAUA

Only in JSMD

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Janus Henderson International Core Alpha ETF prospectus takes effect at 0.35%