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Is Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) a Strong ETF Right Now?
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The Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD - Free Report) was launched on 02/23/2016, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - Small Cap Growth category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
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
JSMD is managed by Janus Henderson, and this fund has amassed over $1.02 billion, which makes it one of the average sized ETFs in the Style Box - Small Cap Growth. Before fees and expenses, JSMD seeks to match the performance of the Janus Small/Mid Cap Growth Alpha Index.
The Janus Henderson Small/Mid Cap Growth Alpha Index selects small- and medium-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
Expense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.
With on par with most peer products in the space, this ETF has annual operating expenses of 0.30%.
It has a 12-month trailing dividend yield of 0.48%.
Sector Exposure and Top Holdings
Most ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.
JSMD's heaviest allocation is in the Industrials sector, which is about 28.8% of the portfolio. Its Information Technology and Healthcare round out the top three.
Looking at individual holdings, Comfort Systems Usa Inc. (FIX) accounts for about 3.79% of total assets, followed by Jabil Inc. (JBL) and Piper Sandler Companies (PIPR).
The top 10 holdings account for about 19.12% of total assets under management.
Performance and Risk
So far this year, JSMD has added about 14.53%, and it's up approximately 24.76% in the last one year (as of 06/08/2026). During this past 52-week period, the fund has traded between $74.23 and $97.31.
JSMD has a beta of 1.15 and standard deviation of 20.70% for the trailing three-year period. With about 122 holdings, it effectively diversifies company-specific risk .
Alternatives
Janus Henderson Small/Mid 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 Index Fund ETF Shares (VBK) tracks CRSP U.S. Small Cap Growth Index. iShares Russell 2000 Growth ETF has $14.07 billion in assets, Vanguard Small-Cap Growth Index Fund ETF Shares has $23.01 billion. IWO has an expense ratio of 0.24% and VBK changes 0.05%.
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/Mid Cap Growth Alpha ETF (JSMD) a Strong ETF Right Now?
The Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD - Free Report) was launched on 02/23/2016, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - Small Cap Growth category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
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
JSMD is managed by Janus Henderson, and this fund has amassed over $1.02 billion, which makes it one of the average sized ETFs in the Style Box - Small Cap Growth. Before fees and expenses, JSMD seeks to match the performance of the Janus Small/Mid Cap Growth Alpha Index.
The Janus Henderson Small/Mid Cap Growth Alpha Index selects small- and medium-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
Expense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.
With on par with most peer products in the space, this ETF has annual operating expenses of 0.30%.
It has a 12-month trailing dividend yield of 0.48%.
Sector Exposure and Top Holdings
Most ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.
JSMD's heaviest allocation is in the Industrials sector, which is about 28.8% of the portfolio. Its Information Technology and Healthcare round out the top three.
Looking at individual holdings, Comfort Systems Usa Inc. (FIX) accounts for about 3.79% of total assets, followed by Jabil Inc. (JBL) and Piper Sandler Companies (PIPR).
The top 10 holdings account for about 19.12% of total assets under management.
Performance and Risk
So far this year, JSMD has added about 14.53%, and it's up approximately 24.76% in the last one year (as of 06/08/2026). During this past 52-week period, the fund has traded between $74.23 and $97.31.
JSMD has a beta of 1.15 and standard deviation of 20.70% for the trailing three-year period. With about 122 holdings, it effectively diversifies company-specific risk .
Alternatives
Janus Henderson Small/Mid 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 Index Fund ETF Shares (VBK) tracks CRSP U.S. Small Cap Growth Index. iShares Russell 2000 Growth ETF has $14.07 billion in assets, Vanguard Small-Cap Growth Index Fund ETF Shares has $23.01 billion. IWO has an expense ratio of 0.24% and VBK changes 0.05%.
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.