Data as of Oct 28, 2026.
IWP vs JSMD: Differences, Returns & Fees
Over the year to Oct 28, 2026, IWP returned −4.9% to JSMD's +6.2%; 10% of their weight is in the same names.
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Net assets: $19.1bn on Oct 27, 2026 for iShares Russell Mid-Cap Growth ETF, and $1.1bn on Jul 31, 2026 for Janus Henderson Small/Mid Cap Growth Alpha ETF.
Pair scorecard
IWP costs 0.07 points a year less; their one-year returns differ by 11.1 points.
| Measure | IWP | JSMD |
|---|---|---|
| Return | ||
| Total return, 1 year | −4.9% | +6.2% |
| Drawdown | ||
| Below its high | 7.6%, high on Aug 17, 2026 | 10.9%, high on Jun 30, 2026 |
| Benchmark | ||
| What it tracks | Russell Midcap Growth Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.23% | 0.30% |
| Net assets, IWP as of Oct 27, 2026 and JSMD as of Jul 31, 2026 | $19.1bn | $1.1bn |
| Holdings | ||
| Holdings in common | 10% | |
| Top ten holdings, share of the fund | 22.2% | 16.6% |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 27, 2026. Method
Risk and return
Mar 4, 2016 to Oct 23, 2026 · 555 weekly returns · each against IWVJSMD returned more: +246.3% to +218.3%. IWP swung slightly less: 20.9% to 21.6%. IWP and JSMD fell about the same at their worst: −37.3% and −36.8%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | IWP | JSMD | IWV | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +218.3% | +246.3% | JSMD | Price change plus distributions, reinvested. | |
| Annualized | +11.5% | +12.3% | JSMD (slight) | Total return as a yearly rate. | |
| Price return | +197.2% | +230.9% | JSMD | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 20.9% | 21.6% | IWP (slight) | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 14.3% | 14.6% | IWP (slight) | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −37.3% | −36.8% | Tie | Deepest fall from a high to the low after it. | |
| Upside capture | 113.0% | 111.8% | 100.0% | Tie | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 111.0% | 109.3% | 100.0% | Tie | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.14 | 1.12 | 1.00 | JSMD lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.87 | 0.78 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.51 | 0.54 | JSMD (slight) | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.75 | 0.79 | JSMD (slight) | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.093 | 0.104 | 0.127 | JSMD | Return above Treasury bills per unit of beta. |
| Calmar | 0.31 | 0.34 | JSMD (slight) | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | IWV | IWV | IWV | The ETF each fund is measured against. | |
| Alpha | −3.9% a year | −2.6% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −1.71 | −0.85 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −8.4% to +0.6% | −8.7% to +3.4% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.27 | −0.11 | JSMD | Return against its benchmark per unit of tracking error. | |
| Tracking error | 7.8% | 10.2% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 555 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, IWP and JSMD hold 10% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 27, 2026.
half
10% in common
Only in one fund ↓
Side by side
IWP and JSMD on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IWP and JSMD are built for the same job. How do they differ in cost, holdings and results?
- What each follows. IWP follows Russell Midcap Growth Index and JSMD follows No index, actively managed.
- Holdings in common. 10% of the weight is in the same securities (holdings dated Oct 27, 2026 and Jul 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 IWP returned −4.9% and JSMD +6.2% with distributions reinvested, a gap of 11.1 points.
Data as of Oct 28, 2026.
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Over the year to Oct 28, 2026 it returned −4.9% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.
IWP tracks an index. The prospectus expense ratio is 0.23% a year. By its holdings published by its issuer for Oct 27, 2026, 49% of the fund by weight is stocks the S&P 500 also holds, across 274 positions, with the top ten at 22.2%. It sat 7.6% below its high of Aug 17, 2026 on Oct 28, 2026.
Over the year to Oct 28, 2026 it returned +6.2% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.
JSMD is actively managed and tracks no index. The prospectus expense ratio is 0.30% a year. By its holdings filed for Jul 31, 2026, 2% of the fund by weight is stocks the S&P 500 also holds, across 126 positions, with the top ten at 16.6%. It sat 10.9% below its high of Jun 30, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, IWP or JSMD?
- In the year to Oct 28, 2026, with distributions reinvested, IWP returned −4.9% and JSMD +6.2%.
- Which is cheaper, IWP or JSMD?
- IWP is cheaper, by 0.07 percentage points a year. That is about $7 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, IWP against JSMD, data as of Oct 28, 2026. https://etfiq.com/compare/any/iwp-vs-jsmd
ETFIQ. (Oct 28, 2026). IWP against JSMD. Retrieved from https://etfiq.com/compare/any/iwp-vs-jsmd
[IWP against JSMD (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/iwp-vs-jsmd)
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