Please ensure Javascript is enabled for purposes of website accessibility US Venture Fund - Janus Henderson Investors - Switzerland Investor (EN)
{{banner.link_text}}
For individual investors in Switzerland

US Venture Fund

Seeks resilient companies positioned to weather a variety of market environments

ISIN
IE00BFRSZ289

NAV
USD 29.41
As of 06/01/2026

1-Day Change
USD 0.20 (0.68%)
 As of 06/01/2026

Morningstar Medalist Rating ™

Morningstar Analyst Rating
As of 21/11/2025

Overview

INVESTMENT OBJECTIVE

The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.
Potential investors must read the prospectus, and where relevant, the key investor information document before investing.
This website is a Marketing Communication and does not qualify as an investment recommendation.

Investment into the fund will acquire units / shares of the fund itself and not the underlying assets owned by the fund.

ABOUT THIS FUND

  • Seeks small-cap companies that stand out from competitors, using their advantages to grow over a multi-year time frame
  • In-depth fundamental research supported by a dedicated team of experienced analysts
  • Focus on resilient business models positioned to weather a variety of market environments

Past performance is no indication of current or future performance. The performance data does not take into account the commissions and costs incurred on the issue and redemption of units. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested.

Portfolio Management

Jonathan Coleman, CFA: Portfolio Manager
Jonathan Coleman, CFA

Portfolio Manager

Industry since 1994. Joined Firm in 1994.

Scott Stutzman, CFA: Portfolio Manager | Research Analyst
Scott Stutzman, CFA

Portfolio Manager | Research Analyst

Industry since 2001. Joined Firm in 2007.

Aaron Schaechterle: Portfolio Manager | Research Analyst
Aaron Schaechterle

Portfolio Manager | Research Analyst

Industry since 2006. Joined Firm in 2022.

Performance

Past performance is no indication of current or future performance. The performance data does not take into account the commissions and costs incurred on the issue and redemption of units. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested.

Discrete Performance (%)
As of 30/09/2025
H2 USD (Net) Russell 2000® Growth Index US Small-Cap Equity - OE
 
As of 30/09/2025 2024/2025 2023/2024 2022/2023 2021/2022 2020/2021
H2 USD (Net) 5.54 27.48 9.48 -29.29 34.64
Russell 2000® Growth Index 13.56 27.66 9.59 -29.27 33.27
US Small-Cap Equity - OE 6.61 24.47 10.63 -25.54 44.77
The H2 USD share class was launched on 31/10/2013. Performance prior to that date is past performance based on the A2 USD share class of the same fund which has a different current ongoing charge included of 2.50.

Past performance is no indication of current or future performance. The performance data does not take into account the commissions and costs incurred on the issue and redemption of units. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested.

Calendar year performance is available on the fund’s factsheet
Please note the performance target is to be achieved over a specific annualised time period. Refer to the performance target wording within the objective.
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
© Morningstar 2026. All rights reserved. NAV-NAV, gross income reinvested where applicable.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
Cumulative & Annualised Performance (%)
As of 30/11/2025
H2 USD (Net) Russell 2000® Growth Index US Small-Cap Equity - OE
  
  Cumulative Annualised
  1MO YTD 1YR 3YR 5YR 10YR Since Inception
31/12/1999
H2 USD (Net) 2.12 9.47 2.30 10.88 4.31 8.74 6.51
Russell 2000® Growth Index -0.68 14.48 5.11 13.54 5.31 9.18 6.17
US Small-Cap Equity - OE 1.18 7.70 -0.28 10.24 6.44 9.01 7.24
 
  Annualised
3YR 5YR 10YR Since Inception
31/12/1999
H2 USD (Gross) - 5.30 9.81 7.55
Russell 2000 Growth TR + 2.00% - 7.42 11.36 8.29
The H2 USD share class was launched on 31/10/2013. Performance prior to that date is past performance based on the A2 USD share class of the same fund which has a different current ongoing charge included of 2.50.
Performance/performance target related data will display only when relevant to the fund/share class inception date and the annualised target time period.
Calendar year performance is available on the fund’s factsheet
© Morningstar 2026. All rights reserved. NAV-NAV, gross income reinvested where applicable.
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
Calendar Year Returns (%)
As of 30/09/2025
H2 USD (Net) Russell 2000® Growth Index US Small-Cap Equity - OE
YTD 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
H2 USD (Net) 5.38 13.80 15.37 -24.75 5.78 32.82 29.58 -5.72 23.59 5.62 -1.16
Russell 2000® Growth Index 11.65 15.15 18.66 -26.36 2.83 34.63 28.48 -9.31 22.17 11.32 -1.38
US Small-Cap Equity - OE 5.68 11.68 17.09 -23.03 16.72 25.89 25.64 -10.41 16.62 18.92 -4.85
Calendar Year Returns (%)
Year H2 USD (Net) Russell 2000® Growth Index US Small-Cap Equity - OE
2024 13.80 15.15 11.68
2023 15.37 18.66 17.09
2022 -24.75 -26.36 -23.03
2021 5.78 2.83 16.72
2020 32.82 34.63 25.89
2019 29.58 28.48 25.64
2018 -5.72 -9.31 -10.41
2017 23.59 22.17 16.62
2016 5.62 11.32 18.92
2015 -1.16 -1.38 -4.85
2014 11.56 5.60 2.67
2013 41.69 43.30 38.24
2012 17.42 14.59 13.70
2011 0.26 -2.91 -4.07
2010 28.17 29.09 24.74
2009 47.46 34.47 37.05
2008 -52.50 -38.54 -38.91
2007 15.08 7.05 3.26
2006 27.46 13.35 14.58
2005 5.68 4.15 6.52
2004 14.54 14.31 15.36
2003 52.32 48.54 42.26
2002 -27.41 -30.26 -21.15
2001 -12.35 -9.23 -5.26
2000 -25.50 -22.43 3.56
1999 from 31/12/1999 0.00 0.00 0.00
The H2 USD share class was launched on 31/10/2013. Performance prior to that date is past performance based on the A2 USD share class of the same fund which has a different current ongoing charge included of 2.50.
Performance/performance target related data will display only when relevant to the fund/share class inception date and the annualised target time period.
© Morningstar 2026. All rights reserved. NAV-NAV, gross income reinvested where applicable.
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Please note the performance target is to be achieved over a specific annualised time period. Refer to the performance target wording within the objective.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.

Recommended holding period 5 Years

Example Investment: USD 10,000

Scenarios If you exit after 1 year If you exit after 5 years
MinimumThere is no minimum guaranteed return. You could lose some or all of your investment
StressWhat you might get back after costs3,080 USD2,340 USD
Average return each year-69.17%-25.22%
UnfavourableWhat you might get back after costs7,070 USD10,150 USD
Average return each year-29.29%0.31%
ModerateWhat you might get back after costs11,070 USD14,310 USD
Average return each year10.72%7.43%
FavourableWhat you might get back after costs18,020 USD24,670 USD
Average return each year80.23%19.80%
This chart shows the fund’s performance as the percentage loss or gain per year over the last 10 years against its benchmark. It can help you to assess how the fund has been managed in the past and compare it to its benchmark.

As of 30/09/2025
H2 USD (Net) Russell 2000® Growth Index US Small-Cap Equity - OE
Past performance does not predict future returns. The value of an investment may go down as well as up and you may lose the amount originally invested. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past.
© Morningstar 2026. All rights reserved. NAV-NAV, gross income reinvested where applicable.
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
Fee Information
Initial Charge 0.00%
Annual Charge 0.80%
Ongoing Charge
(As of 31/12/2024) 		0.97%
For more information about charges, please see our fund charges page or the “charges” section of the fund’s prospectus.

Portfolio

Top Holdings (As of 30/11/2025)
% of Fund
Glaukos Corp 2.14
SS&C Technologies Holdings Inc 2.13
SPX Technologies Inc 2.13
Avidity Biosciences Inc 1.97
OSI Systems Inc 1.92
Perimeter Solutions Inc 1.78
Credo Technology Group Holding Ltd 1.72
Globus Medical Inc 1.72
Ligand Pharmaceuticals Inc 1.68
LPL Financial Holdings Inc 1.67
TOTAL 18.86
References made to individual securities do not constitute a recommendation to buy, sell or hold any security, investment strategy or market sector, and should not be assumed to be profitable. Janus Henderson Investors, its affiliated advisor, or its employees, may have a position in the securities mentioned.
Sector Allocation % of Fund % of Index % of Fund % of Index As of 30/11/2025
Market Capitalization Range of Equity Holdings % of Fund % of Index % of Fund % of Index As of 30/11/2025
Country/Geographic Exposures % of Fund % of Index % of Fund % of Index As of 30/11/2025
Regional Allocation % of Fund % of Index % of Fund % of Index As of 30/11/2025

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Related Insights
What could drive U.S. small cap returns in 2026?
9 Dec 2025
Features & Outlooks

What could drive U.S. small cap returns in 2026?

Jonathan Coleman explores key drivers that could support U.S. small-cap performance in 2026, including reshoring trends, M&A activity, and AI productivity gains.

Read More

CEO Sessions: Innovation and valuation – why small caps are back in focus
19 Nov 2025
Timely & Topical

CEO Sessions: Innovation and valuation – why small caps are back in focus

Amid global uncertainty and shifting credit conditions, we explore how innovation, attractive valuations, and deep research make small caps a compelling choice.

Read More

Global Perspectives: Weighing small- and mid-cap market tailwinds
14 Nov 2025
Features & Outlooks

Global Perspectives: Weighing small- and mid-cap market tailwinds

AI adoption, reshoring trends, and M&A activity could create long-duration growth tailwinds for small- and mid-cap domestic firms.

Read More

  • The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • Past performance does not predict future returns.
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • Shares/Units can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
  • Shares of small and mid-size companies can be more volatile than shares of larger companies, and at times it may be difficult to value or to sell shares at desired times and prices, increasing the risk of losses.
  • The Fund follows a growth investment style that creates a bias towards certain types of companies. This may result in the Fund significantly underperforming or outperforming the wider market.
  • SPACs are shell companies set up to acquire businesses. They are complex and often lack the transparency of established companies, and therefore present greater risks to investors.
  • If a Fund has a high exposure to a particular country or geographical region it carries a higher level of risk than a Fund which is more broadly diversified.
  • The Fund may use derivatives to help achieve its investment objective. This can result in leverage (higher levels of debt), which can magnify an investment outcome. Gains or losses to the Fund may therefore be greater than the cost of the derivative. Derivatives also introduce other risks, in particular, that a derivative counterparty may not meet its contractual obligations.
  • If the Fund holds assets in currencies other than the base currency of the Fund, or you invest in a share/unit class of a different currency to the Fund (unless hedged, i.e. mitigated by taking an offsetting position in a related security), the value of your investment may be impacted by changes in exchange rates.
  • When the Fund, or a share/unit class, seeks to mitigate exchange rate movements of a currency relative to the base currency (hedge), the hedging strategy itself may positively or negatively impact the value of the Fund due to differences in short-term interest rates between the currencies.
  • Securities within the Fund could become hard to value or to sell at a desired time and price, especially in extreme market conditions when asset prices may be falling, increasing the risk of investment losses.
  • The Fund could lose money if a counterparty with which the Fund trades becomes unwilling or unable to meet its obligations, or as a result of failure or delay in operational processes or the failure of a third party provider.
  • Funds incur costs as a necessary part of buying and selling the underlying investments, these are otherwise known as portfolio transaction costs, and include charges such as broker commission and Stamp Duty.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved, you may wish to consult a financial adviser.
  • If you invest through a third party provider you are advised to consult them directly as charges, performance and terms and conditions may differ materially.
  • Summary of Investor rights
  • Janus Henderson Investors Europe S.A. may decide to terminate the marketing arrangements of this Collective Investment Scheme in accordance with the appropriate regulation.
  • Funds incur costs as a necessary part of buying and selling the underlying investments, these are otherwise known as portfolio transaction costs, and include charges such as broker commission and Stamp Duty.
  • Before investing in any of our funds you should satisfy yourself as to the suitability and the risks involved.
  • Summary of Investor rights
  • Janus Henderson Investors Europe S.A. may decide to terminate the marketing arrangements of this Collective Investment Scheme in accordance with the appropriate regulation.
  • Information on compliance with EU Sustainability related disclosures can be found here.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report. Please refer to the prospectus of the UCITS and to the KID before making any final investment decisions.
  • The Legal Entity Identifier for this product is UNPNC994N6BGFPYJ7W40.

Choose region

Country

Language

What type of investor are you?