JHAI vs SPY
JHAI vs SPY
Janus Henderson Global Artificial Intelligence ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. JHAI delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | JHAI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.59% | 0.09% | |
| AUM | - | $789.1B | |
| Dividend Yield | 0.37% | 1.01% | |
| Holdings | 50 | 505 | |
| YTD Return | +24.82% | +13.79% | |
| 1Y Return | +39.06% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 29.7% | 15.3% | |
| Max Drawdown | -19.4% | -56.5% | |
| Fund Family | Janus Henderson Investors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 19, 2025 | Jan 22, 1993 |
JHAI vs SPY Performance
Janus Henderson Global Artificial Intelligence ETF (JHAI) is a ETF from Janus Henderson Investors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year JHAI returned +39.06% while SPY returned +23.66%. Year to date, JHAI is up 24.82% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
JHAI has been the more volatile fund, with annualized monthly volatility of 29.7% compared with 15.3% 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 -19.4% for JHAI and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
JHAI charges 0.59% per year while SPY charges 0.09%. On a $10,000 position that is $59 vs $9 annually, a gap of $50 per year that compounds over a long holding period. On income, JHAI currently yields 0.37% against 1.01% for SPY.
Holdings Overlap
JHAI and SPY share 29 holdings out of 522 unique holdings combined, representing a 29.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in JHAI | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 13.26% | 7.31% | 5.95% |
| AVGO | 5.48% | 2.73% | 2.75% |
| MU | 5.94% | 1.71% | 4.23% |
| MSFT | Pro | Pro | Pro |
| AMZN | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| LRCX | Pro | Pro | Pro |
| AMD | Pro | Pro | Pro |
| KLAC | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
See all 10 holdings JHAI shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, JHAI or SPY?
JHAI has an expense ratio of 0.59% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, JHAI or SPY?
Over the past year JHAI returned +39.06% vs +23.66% for SPY, so JHAI leads on 1-year performance. Past performance does not guarantee future results.
Which is riskier, JHAI or SPY?
JHAI has been the more volatile fund at 29.7% annualized versus 15.3% for SPY. Worst drawdown: JHAI -19.4% vs SPY -56.5%.
Should I hold both JHAI and SPY?
JHAI and SPY have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between JHAI and SPY?
JHAI and SPY share 29 common holdings with a 29.3% weight overlap. Combined, they hold 522 unique securities.
Which pays a higher dividend, JHAI or SPY?
JHAI yields 0.37% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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