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Janus Henderson High-Yield Fund
JHYAX (Mutual Fund)
Janus Henderson High-Yield Fund
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
8.1%
1 yr return
8.1%
3 Yr Avg Return
0.8%
5 Yr Avg Return
2.5%
Net Assets
$762 M
Holdings in Top 10
16.6%
52 WEEK LOW AND HIGH
$7.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.97%
SALES FEES
Front Load 4.75%
Deferred Load N/A
TRADING FEES
Turnover 120.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
JHYAX - Profile
Distributions
- YTD Total Return 8.1%
- 3 Yr Annualized Total Return 0.8%
- 5 Yr Annualized Total Return 2.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.71%
- Dividend Yield 7.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameJanus Henderson High-Yield Fund
-
Fund Family NameJanus Henderson Funds
-
Inception DateDec 29, 1995
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerSeth Meyer
Fund Description
The Fund pursues its investment objectives by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in high-yield securities rated below investment grade (also known as “junk” bonds). Securities rated below investment grade may include their unrated equivalents or other high-yielding securities portfolio management believes offer attractive risk/return characteristics. The Fund may at times invest all of its assets in such securities. The Fund may also invest in money market instruments and foreign debt securities. The Fund may also invest in floating rate obligations, such as collateralized loan obligations, floating rate senior secured syndicated bank loans, floating rate unsecured loans, and other floating rate bonds, loans and notes. The Fund may also invest in securities that have contractual restrictions that prohibit or limit their public resale, which may include Rule 144A securities.Additionally, the Fund may invest its assets in derivatives. Derivative instruments have a value derived from, or directly linked to, an underlying asset, such as fixed-income securities, commodities, currencies, interest rates, or market indices. The Fund’s exposure to derivatives will vary. For purposes of meeting its 80% investment policy, the Fund may include derivatives that have characteristics similar to the securities in which the Fund may directly invest. In particular, the Fund may invest in swaps, including index credit default swaps, to increase or decrease the Fund’s exposure to a particular market.Portfolio management’s investment process is research-driven, incorporating“top-down”and “bottom-up” factors to identify and manage exposure to risks across sectors,industries, and individual investments. Portfolio management evaluates expected risk-adjusted returns on a portfolio and position level by analyzing fundamentals,valuations, and market technical indicators.This research encompasses both traditional fundamental analysis and data driven quantitative models and signals from such models.As part of its investment process, portfolio management considers environmental, social, and governance (“ESG”) risks and opportunities (“ESG Factors”) that it believes are financially material, alongside other fundamental investment factors. Examples of potential financially material ESG Factors include corporate governance, company culture, exposure to climate change, and human capital management. To assess ESG Factors, portfolio management uses issuer reports, third-party data, and internally-generated analyses and may engage directly with issuers. ESG Factors are one of many considerations in the investment decision-making process and may not be determinative in deciding to include or exclude an investment from the portfolio.The Fund may seek to earn additional income through lending its securities to certain qualified broker-dealers and institutions, in an amount equal to up to one-third of its total assets as determined at the time of the loan origination.
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JHYAX - Performance
Return Ranking - Trailing
| Period | JHYAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.1% | -8.8% | 17.7% | 32.84% |
| 1 Yr | 8.1% | -9.2% | 18.4% | 40.92% |
| 3 Yr | 0.8%* | -14.6% | 21.0% | 90.36% |
| 5 Yr | 2.5%* | -12.0% | 36.6% | 83.36% |
| 10 Yr | 4.0%* | -4.8% | 20.1% | 56.03% |
* Annualized
Return Ranking - Calendar
| Period | JHYAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.8% | -4.7% | 14.3% | 63.65% |
| 2022 | -19.5% | -33.4% | 3.6% | 93.52% |
| 2021 | 0.9% | -8.4% | 8.2% | 25.17% |
| 2020 | -0.1% | -13.2% | 302.7% | 50.62% |
| 2019 | 9.4% | -4.4% | 13.3% | 14.60% |
Total Return Ranking - Trailing
| Period | JHYAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.1% | -8.8% | 17.7% | 32.84% |
| 1 Yr | 8.1% | -9.2% | 18.4% | 40.92% |
| 3 Yr | 0.8%* | -14.6% | 21.0% | 90.36% |
| 5 Yr | 2.5%* | -12.0% | 36.6% | 83.36% |
| 10 Yr | 4.0%* | -4.8% | 20.1% | 56.03% |
* Annualized
Total Return Ranking - Calendar
| Period | JHYAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.1% | -4.7% | 18.7% | 52.96% |
| 2022 | -14.9% | -33.4% | 47.8% | 94.19% |
| 2021 | 5.7% | -8.4% | 12.4% | 35.69% |
| 2020 | 5.7% | -9.6% | 325.6% | 46.71% |
| 2019 | 15.7% | -3.8% | 21.6% | 13.14% |
NAV & Total Return History
JHYAX - Holdings
Concentration Analysis
| JHYAX | Category Low | Category High | JHYAX % Rank | |
|---|---|---|---|---|
| Net Assets | 762 M | 3.13 M | 25.3 B | 42.79% |
| Number of Holdings | 176 | 2 | 3879 | 83.69% |
| Net Assets in Top 10 | 109 M | -492 M | 5.25 B | 45.14% |
| Weighting of Top 10 | 16.56% | 4.2% | 146.0% | 32.13% |
Top 10 Holdings
- Janus Henderson Cash Liquidity Fund LLC 3.39%
- FIP 10.5 06/01/27 144A 1.97%
- ATSG 4.75 02/01/28 144A 1.67%
- BMCAUS 3.375 01/15/31 144A 1.54%
- RGCARE 10 06/01/32 144A 1.48%
- TEP 6 09/01/31 144A 1.47%
- HEARTL 10.5 04/30/28 144A 1.36%
- FMGAU 4.375 04/01/31 144A 1.26%
- OGN 5.125 04/30/31 144A 1.21%
- TIBX 6.5 03/31/29 144A 1.21%
Asset Allocation
| Weighting | Return Low | Return High | JHYAX % Rank | |
|---|---|---|---|---|
| Bonds | 91.21% | 0.00% | 145.36% | 82.46% |
| Stocks | 6.66% | 0.00% | 97.54% | 7.70% |
| Convertible Bonds | 2.19% | 0.00% | 17.89% | 19.28% |
| Other | 1.76% | -39.08% | 99.86% | 10.71% |
| Preferred Stocks | 0.79% | 0.00% | 4.97% | 10.38% |
| Cash | 0.20% | -52.00% | 48.02% | 95.88% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | JHYAX % Rank | |
|---|---|---|---|---|
| Consumer Cyclical | 36.63% | 0.00% | 100.00% | 6.53% |
| Technology | 33.17% | 0.00% | 33.17% | 2.08% |
| Basic Materials | 25.82% | 0.00% | 100.00% | 3.56% |
| Communication Services | 4.38% | 0.00% | 99.99% | 45.40% |
| Utilities | 0.00% | 0.00% | 100.00% | 78.04% |
| Real Estate | 0.00% | 0.00% | 86.71% | 78.04% |
| Industrials | 0.00% | 0.00% | 93.12% | 81.31% |
| Healthcare | 0.00% | 0.00% | 22.17% | 74.78% |
| Financial Services | 0.00% | 0.00% | 100.00% | 81.01% |
| Energy | 0.00% | 0.00% | 100.00% | 93.47% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 75.67% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | JHYAX % Rank | |
|---|---|---|---|---|
| US | 6.66% | 0.00% | 97.54% | 7.74% |
| Non US | 0.00% | -0.01% | 2.00% | 76.28% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | JHYAX % Rank | |
|---|---|---|---|---|
| Corporate | 93.73% | 0.00% | 100.00% | 59.24% |
| Securitized | 1.27% | 0.00% | 97.24% | 22.77% |
| Cash & Equivalents | 0.20% | 0.00% | 48.02% | 88.47% |
| Municipal | 0.00% | 0.00% | 1.17% | 71.62% |
| Government | 0.00% | 0.00% | 99.07% | 81.35% |
| Derivative | -0.09% | -14.58% | 42.26% | 95.55% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | JHYAX % Rank | |
|---|---|---|---|---|
| US | 91.21% | 0.00% | 126.57% | 67.05% |
| Non US | 0.00% | 0.00% | 96.91% | 83.20% |
JHYAX - Expenses
Operational Fees
| JHYAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.97% | 0.02% | 38.33% | 50.66% |
| Management Fee | 0.59% | 0.00% | 1.75% | 61.08% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 47.18% |
| Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
| JHYAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.75% | 2.25% | 5.75% | 10.64% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| JHYAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| JHYAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 120.00% | 1.00% | 255.00% | 94.78% |
JHYAX - Distributions
Dividend Yield Analysis
| JHYAX | Category Low | Category High | JHYAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 7.74% | 0.00% | 11.76% | 42.72% |
Dividend Distribution Analysis
| JHYAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
| JHYAX | Category Low | Category High | JHYAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.71% | -2.39% | 9.30% | 33.05% |
Capital Gain Distribution Analysis
| JHYAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.047 | OrdinaryDividend |
| Oct 31, 2024 | $0.040 | OrdinaryDividend |
| Sep 30, 2024 | $0.037 | OrdinaryDividend |
| Aug 30, 2024 | $0.044 | OrdinaryDividend |
| Jul 31, 2024 | $0.040 | OrdinaryDividend |
| Apr 30, 2024 | $0.039 | OrdinaryDividend |
| Mar 28, 2024 | $0.038 | OrdinaryDividend |
| Feb 29, 2024 | $0.038 | OrdinaryDividend |
| Jan 31, 2024 | $0.037 | OrdinaryDividend |
| Dec 29, 2023 | $0.039 | OrdinaryDividend |
| Nov 30, 2023 | $0.038 | OrdinaryDividend |
| Oct 31, 2023 | $0.037 | OrdinaryDividend |
| Sep 29, 2023 | $0.039 | OrdinaryDividend |
| Aug 31, 2023 | $0.037 | OrdinaryDividend |
| Jul 31, 2023 | $0.034 | OrdinaryDividend |
| Jun 30, 2023 | $0.039 | OrdinaryDividend |
| May 31, 2023 | $0.037 | OrdinaryDividend |
| Apr 28, 2023 | $0.034 | OrdinaryDividend |
| Mar 31, 2023 | $0.038 | OrdinaryDividend |
| Feb 28, 2023 | $0.035 | OrdinaryDividend |
| Jan 31, 2023 | $0.033 | OrdinaryDividend |
| Dec 30, 2022 | $0.037 | OrdinaryDividend |
| Nov 30, 2022 | $0.034 | OrdinaryDividend |
| Oct 31, 2022 | $0.031 | OrdinaryDividend |
| Sep 30, 2022 | $0.035 | OrdinaryDividend |
| Aug 31, 2022 | $0.033 | OrdinaryDividend |
| Jul 29, 2022 | $0.031 | OrdinaryDividend |
| Jun 30, 2022 | $0.030 | OrdinaryDividend |
| May 31, 2022 | $0.030 | OrdinaryDividend |
| Apr 29, 2022 | $0.030 | OrdinaryDividend |
| Mar 31, 2022 | $0.030 | OrdinaryDividend |
| Feb 28, 2022 | $0.032 | OrdinaryDividend |
| Jan 31, 2022 | $0.027 | OrdinaryDividend |
| Dec 31, 2021 | $0.031 | OrdinaryDividend |
| Nov 30, 2021 | $0.038 | OrdinaryDividend |
| Oct 29, 2021 | $0.032 | OrdinaryDividend |
| Sep 30, 2021 | $0.030 | OrdinaryDividend |
| Aug 31, 2021 | $0.032 | OrdinaryDividend |
| Jun 30, 2021 | $0.030 | OrdinaryDividend |
| May 28, 2021 | $0.029 | OrdinaryDividend |
| Apr 30, 2021 | $0.035 | OrdinaryDividend |
| Mar 31, 2021 | $0.032 | OrdinaryDividend |
| Feb 26, 2021 | $0.035 | OrdinaryDividend |
| Jan 29, 2021 | $0.029 | OrdinaryDividend |
| Dec 31, 2020 | $0.046 | OrdinaryDividend |
| Nov 30, 2020 | $0.033 | OrdinaryDividend |
| Oct 30, 2020 | $0.034 | OrdinaryDividend |
| Sep 30, 2020 | $0.035 | OrdinaryDividend |
| Aug 31, 2020 | $0.031 | OrdinaryDividend |
| Jul 31, 2020 | $0.036 | OrdinaryDividend |
| Jun 30, 2020 | $0.034 | OrdinaryDividend |
| May 29, 2020 | $0.034 | OrdinaryDividend |
| Apr 30, 2020 | $0.034 | OrdinaryDividend |
| Mar 31, 2020 | $0.034 | OrdinaryDividend |
| Feb 28, 2020 | $0.034 | OrdinaryDividend |
| Jan 31, 2020 | $0.036 | OrdinaryDividend |
| Dec 31, 2019 | $0.035 | OrdinaryDividend |
| Nov 29, 2019 | $0.035 | OrdinaryDividend |
| Oct 31, 2019 | $0.035 | OrdinaryDividend |
| Sep 30, 2019 | $0.032 | OrdinaryDividend |
| Aug 30, 2019 | $0.037 | OrdinaryDividend |
| Jul 31, 2019 | $0.035 | OrdinaryDividend |
| Dec 31, 2014 | $0.045 | CapitalGainShortTerm |
| Dec 31, 2014 | $0.151 | CapitalGainLongTerm |
| Dec 31, 2013 | $0.006 | CapitalGainShortTerm |
| Dec 31, 2013 | $0.221 | CapitalGainLongTerm |
| Dec 31, 2012 | $0.014 | CapitalGainLongTerm |
JHYAX - Fund Manager Analysis
Managers
Seth Meyer
Start Date
Tenure
Tenure Rank
Dec 31, 2015
6.42
6.4%
"Seth Meyer is a Portfolio Manager at Janus Henderson Investors responsible for co-managing the High Yield, Global High Yield, Multi-Sector Credit and Short Duration High Yield strategies. He also has co-managed the fixed income portion of the Perkins Value Plus Income strategy since 2018. Seth was promoted to assistant portfolio manager supporting primarily the High Yield and Short Duration High Yield strategies in 2012. He joined Janus in 2004 as a product manager covering a variety of equity and fixed income strategies before becoming a credit analyst. Prior to Janus, he was a consultant relations manager at OppenheimerFunds. Seth received his bachelor of science degree in business administration with a concentration in finance from the University of Colorado. He holds the Chartered Financial Analyst designation and has 21 years of financial industry experience."
Brent Olson
Start Date
Tenure
Tenure Rank
Jun 28, 2019
2.93
2.9%
Brent Olson is a Portfolio Manager and Credit Analyst at Janus Henderson Investors. Brent rejoined Janus Henderson in 2017. Prior to this, he was a lead portfolio manager at Scout Investments on a growth equity strategy that emphasised fixed income metrics and credit data points to select stocks. Before Scout, he oversaw high-yield and leveraged equity research as well as managed fixed income products at Three Peaks Capital Management from 2005 until 2013. From 2000 until 2004, he was an investment analyst at Invesco Funds Group. He started his financial career in 1997 as a credit analyst.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.31 | 8.17 |
