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Is Janus Henderson Small Cap Growth Alpha ETF (JSML) a Strong ETF Right Now?
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The Janus Henderson Small Cap Growth Alpha ETF (JSML - Free Report) made its debut on 02/23/2016, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Small Cap Growth category of the market.
What Are Smart Beta ETFs?
Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry.
Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.
However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.
This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics.
Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.
Fund Sponsor & Index
Because the fund has amassed over $259.61 million, this makes it one of the average sized ETFs in the Style Box - Small Cap Growth. JSML is managed by Janus Henderson. This particular fund seeks to match the performance of the Janus Small Cap Growth Alpha Index before fees and expenses.
The Janus Henderson Small Cap Growth Alpha Index selects small-sized capitalization stocks that are poised for smart growth by evaluating each company performance in three critical areas: growth, profitability, and capital efficiency.
Cost & Other Expenses
For ETF investors, expense ratios are an important factor when considering a fund's return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.
Operating expenses on an annual basis are 0.30% for JSML, making it on par with most peer products in the space.
JSML's 12-month trailing dividend yield is 1.75%.
Sector Exposure and Top Holdings
ETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
JSML's heaviest allocation is in the Industrials sector, which is about 20.9% of the portfolio. Its Information Technology and Healthcare round out the top three.
When you look at individual holdings, Aurinia Pharmaceuticals Inc. (AUPH) accounts for about 2.71% of the fund's total assets, followed by Sterling Infrastructure Inc. (STRL) and Primoris Services Corporation (PRIM).
The top 10 holdings account for about 22.15% of total assets under management.
Performance and Risk
The ETF has added roughly 15.4% and was up about 14.81% so far this year and in the past one year (as of 12/22/2025), respectively. JSML has traded between $54.00 and $77.10 during this last 52-week period.
The fund has a beta of 1.23 and standard deviation of 21.64% for the trailing three-year period. With about 115 holdings, it effectively diversifies company-specific risk .
Alternatives
Janus Henderson Small Cap Growth Alpha ETF is a reasonable option for investors seeking to outperform the Style Box - Small Cap Growth segment of the market. However, there are other ETFs in the space which investors could consider.
iShares Russell 2000 Growth ETF (IWO) tracks Russell 2000 Growth Index and the Vanguard Small-Cap Growth ETF (VBK) tracks CRSP U.S. Small Cap Growth Index. iShares Russell 2000 Growth ETF has $13.46 billion in assets, Vanguard Small-Cap Growth ETF has $21.03 billion. IWO has an expense ratio of 0.24% and VBK changes 0.07%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Small Cap Growth
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Is Janus Henderson Small Cap Growth Alpha ETF (JSML) a Strong ETF Right Now?
The Janus Henderson Small Cap Growth Alpha ETF (JSML - Free Report) made its debut on 02/23/2016, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Small Cap Growth category of the market.
What Are Smart Beta ETFs?
Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry.
Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.
However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.
This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics.
Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.
Fund Sponsor & Index
Because the fund has amassed over $259.61 million, this makes it one of the average sized ETFs in the Style Box - Small Cap Growth. JSML is managed by Janus Henderson. This particular fund seeks to match the performance of the Janus Small Cap Growth Alpha Index before fees and expenses.
The Janus Henderson Small Cap Growth Alpha Index selects small-sized capitalization stocks that are poised for smart growth by evaluating each company performance in three critical areas: growth, profitability, and capital efficiency.
Cost & Other Expenses
For ETF investors, expense ratios are an important factor when considering a fund's return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.
Operating expenses on an annual basis are 0.30% for JSML, making it on par with most peer products in the space.
JSML's 12-month trailing dividend yield is 1.75%.
Sector Exposure and Top Holdings
ETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
JSML's heaviest allocation is in the Industrials sector, which is about 20.9% of the portfolio. Its Information Technology and Healthcare round out the top three.
When you look at individual holdings, Aurinia Pharmaceuticals Inc. (AUPH) accounts for about 2.71% of the fund's total assets, followed by Sterling Infrastructure Inc. (STRL) and Primoris Services Corporation (PRIM).
The top 10 holdings account for about 22.15% of total assets under management.
Performance and Risk
The ETF has added roughly 15.4% and was up about 14.81% so far this year and in the past one year (as of 12/22/2025), respectively. JSML has traded between $54.00 and $77.10 during this last 52-week period.
The fund has a beta of 1.23 and standard deviation of 21.64% for the trailing three-year period. With about 115 holdings, it effectively diversifies company-specific risk .
Alternatives
Janus Henderson Small Cap Growth Alpha ETF is a reasonable option for investors seeking to outperform the Style Box - Small Cap Growth segment of the market. However, there are other ETFs in the space which investors could consider.
iShares Russell 2000 Growth ETF (IWO) tracks Russell 2000 Growth Index and the Vanguard Small-Cap Growth ETF (VBK) tracks CRSP U.S. Small Cap Growth Index. iShares Russell 2000 Growth ETF has $13.46 billion in assets, Vanguard Small-Cap Growth ETF has $21.03 billion. IWO has an expense ratio of 0.24% and VBK changes 0.07%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Small Cap Growth
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.