JXX vs SPY
Janus Henderson Transformational Growth ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, JXX or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 62.9%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | JXX | SPY |
|---|---|---|
| Expense Ratio | 0.57% | 0.09%Best |
| AUM | $24M | $823.2B |
| Dividend Yield | 0.00% | 0.99% |
| Holdings | 48 | 1,515 |
| YTD Return | +7.42% | +13.53%Best |
| 1Y Return | +6.40% | +17.47%Best |
| 3Y Return (annualized) | - | +22.36% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 22.9% | 12.8%Best |
| Max Drawdown | -23.7% | -18.8%Best |
| $10,000 over 1.7 years | $11,925 | $13,014Best |
| Top 10 Weight | 62.9% | 38.2%Best |
| Fund Family | Janus Henderson Investors | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Feb 4, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.7 years row, are measured over the window both funds cover: Feb 5, 2025 to Oct 14, 2026 (1.7 years).
JXX vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.7 years both funds cover.
JXX vs SPY Performance
Janus Henderson Transformational Growth ETF (JXX) is an ETF from Janus Henderson Investors and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year JXX returned +6.40% while SPY returned +17.47%. Year to date, JXX is up 7.42% versus a gain of 13.53% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JXX has been the more volatile fund, with annualized monthly volatility of 22.9% compared with 12.8% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -23.7% for JXX and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
JXX charges 0.57% per year while SPY charges 0.09%. On a $10,000 position that is $57 vs $9 annually, a gap of $48 per year that compounds over a long holding period. On income, JXX currently yields 0.00% against 0.99% for SPY.
Holdings Overlap
62.7% of JXX's money is in holdings SPY also owns. 10.9% of SPY's money is in holdings JXX also owns.
The two portfolios partly overlap.
14 positions in common, counted across the 23 positions we hold weights for in JXX and 504 in SPY, against full books of 48 and 1,515.
What only one of them owns
Our book lists 482 positions for SPY that do not appear in our book for JXX (88.1% of the fund), and 8 for JXX that do not appear in SPY (23.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in JXX | Weight in SPY | Difference |
|---|---|---|---|
| AMZNAmazon.Com Inc | 7.73% | 3.78% | 3.95% |
| AVGOBroadcom Inc | 6.88% | 2.48% | 4.40% |
| ORCLOracle Corp - Common | 7.44% | 0.37% | 7.07% |
| AMDAdvanced Micro Devices Inc | 4.81% | 1.22% | 3.59% |
| LITELumentum Holdings Inc | 4.82% | 0.10% | 4.72% |
| LLYEli Lilly & Co. | 3.43% | 1.37% | 2.06% |
| HWMHowmet Aerospace | 4.57% | 0.14% | 4.43% |
| UNHUnitedhealth Group Incorporated | 4.18% | 0.53% | 3.65% |
| DHRDanaher Corporation | 4.26% | 0.19% | 4.07% |
| DDOGDatadog Inc | 3.87% | 0.12% | 3.75% |
62.7% of JXX is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, JXX or SPY?
JXX has an expense ratio of 0.57% while SPY charges 0.09%. SPY is the cheaper option, by $48 a year on a $10,000 investment.
Which performed better, JXX or SPY?
Over the past year JXX returned +6.40% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), JXX annualized +10.91% vs +16.76% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JXX or SPY?
JXX has been the more volatile fund at 22.9% annualized versus 12.8% for SPY. Worst drawdown: JXX -23.7% vs SPY -18.8%.
Should I hold both JXX and SPY?
JXX and SPY have a monthly-return correlation of 0.88, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between JXX and SPY?
62.7% of JXX's money is in holdings SPY also owns. 10.9% of SPY's is in holdings JXX also owns. They hold 14 positions in common, counted across the 23 positions we hold weights for in JXX and 504 in SPY.
Which pays a higher dividend, JXX or SPY?
JXX yields 0.00% while SPY yields 0.99%, so SPY currently pays the higher dividend yield.
Is SPY better than JXX?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 62.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.