For Financial Professionals in the US

JBALX Balanced Fund

For 25 years, this dynamic allocation strategy has delivered our equity and fixed income expertise in a one-stop core solution

NAV
$42.96
As of 05/17/2021

1-Day Change
-$0.14 (-0.32%)
As of 05/17/2021

YTD Return
4.96%
As of 05/17/2021

Morningstar Rating

As of 04/30/2021

Overview

Quarterly Update

Watch the investment team recap the quarter.

25+ YEAR HISTORY OF

Providing S&P 500®-Like Returns with Significantly Less Volatility

Fund Highlights

  • Large-cap growth equities paired with an actively managed intermediate-term bond strategy
  • Dynamic asset allocation approach that migrates between 35%-65% equity depending on market conditions
  • Integrated research allows our equity and fixed income analysts to work side by side covering the same global sectors
Balance Scale

Equity Allocation Adapting to Market Changes

Balanced Fund Equity Allocation in Relation to Market Volatility (12/31/97 – 12/31/20)

Cboe Volatility Index® or VIX® Index® shows the market’s expectation of 30-day volatility. It is constructed using the implied volatilities of a wide range of S&P 500® index options and is a widely used measure of market risk. The VIX Index volatility methodology is the property of Chicago Board of Options Exchange, which is not affiliated with Janus Henderson.
As of 3/31/21, Balanced Fund Class I Shares Morningstar Ratings™ in the Allocation - 50% to 70% Equity category: 5 stars out of 641 funds, 5 stars out of 574 funds and 5 stars out of 412 funds, for the 3-, 5-, and 10-year periods, respectively.

RATINGS AND AWARDS

PORTFOLIO MANAGEMENT

Jeremiah Buckley, CFA

Portfolio Manager

Industry since 1998. Joined Firm in 1998.

Greg Wilensky, CFA

Head of U.S. Fixed Income | Portfolio Manager

Industry since 1993. Joined Firm in 2020.

Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Performance

RETURNS (%) (As of 03/31/2021)
Balanced Fund - Class I Shares S&P 500® Index Bloomberg Barclays U.S. Aggregate Bond Index Balanced Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Balanced Fund - Class I Shares 1.67 1.67 31.42 12.59 12.44 9.91 10.06
S&P 500® Index 6.17 6.17 56.35 16.78 16.29 13.91 10.39
Bloomberg Barclays U.S. Aggregate Bond Index -3.37 -3.37 0.71 4.65 3.10 3.44 5.27
Balanced Index 1.83 1.83 28.86 11.64 10.49 9.35 8.37
RETURNS (%) (As of 04/30/2021)
Balanced Fund - Class I Shares S&P 500® Index Bloomberg Barclays U.S. Aggregate Bond Index Balanced Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Balanced Fund - Class I Shares 7.44 5.79 27.82 14.16 13.34 10.03 10.18
S&P 500® Index 12.98 11.84 45.98 18.67 17.42 14.17 10.56
Bloomberg Barclays U.S. Aggregate Bond Index -1.91 -2.61 -0.27 5.19 3.19 3.39 5.28
Balanced Index 6.11 5.18 23.42 12.90 11.13 9.47 8.46
CALENDAR YEAR RETURNS (%)
Balanced Fund - Class I Shares S&P 500® Index
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Balanced Fund - Class I Shares 1.49 13.09 19.86 8.53 0.64 4.61 18.58 0.70 22.59 14.39
S&P 500® Index 2.11 16.00 32.39 13.69 1.38 11.96 21.83 -4.38 31.49 18.40

MORNINGSTAR PERCENTILE

(As Of 03/31/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 79 11 8 8 7
Allocation-50% to 70% Equity Category|Rank/Count 526/683 56/672 38/643 41/521 12/187
(As Of 04/30/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 69 11 7 9 7
Allocation-50% to 70% Equity Category|Rank/Count 454/686 57/678 37/651 44/535 12/187
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 04/30/2021 Class I Shares)

RISK / REWARD
VS. S&P 500® Index
3YR 5YR
Information Ratio -0.58 -0.65
Alpha 2.67 2.59
Tracking Error 7.76 6.24
Beta 0.60 0.61
R-squared (%) 96.32 95.44
UP/DOWN MARKET CAPTURE (%)
VS. S&P 500® Index
3YR 5YR
Up Capture Ratio 61.43 64.06
Down Capture Ratio 56.38 54.95
STANDARD DEVIATION 3YR 5YR
Balanced Fund 11.28 9.28
S&P 500® Index 18.52 14.99
SHARPE RATIO 3YR 5YR
Balanced Fund 1.13 1.31
S&P 500® Index 0.93 1.09
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2020)
CLASS I SHARES
Management Fees 0.55%
Other Expenses 0.10%
Total Gross Expenses 0.65%
Waivers 0.00%
Total Net Expenses 0.65%

Portfolio

Index represents the S&P 500® Index.

Top Holdings (As of 04/30/2021)
% of Fund
Microsoft Corp 4.97
Alphabet Inc 3.43
Apple Inc 3.37
Amazon.com Inc 3.04
Mastercard Inc 2.52
UnitedHealth Group Inc 2.15
Home Depot Inc 1.87
Adobe Inc 1.86
United States Treasury Note/Bond, 0.50%, 02/28/26 1.82
United States Treasury Note/Bond, 0.12%, 02/28/23 1.76
Total 26.79
View Full Holdings
Portfolio Characteristics (As of 04/30/2021)
 
Number of Holdings
Equity Issues
69
Number of Holdings
Debt Issues
530
Market Capitalization
Weighted Average
$567.37B
Portfolio Turnover Rate
(1-year trailing)
58.96%
Price/Earnings Ratio
(1-year forward)
32.14
Price/Book Ratio
(1-year forward)
10.26
Earnings Growth Rate
(1-year forward)
27.23%
Weighted Average Maturity
(years)
7.63
Effective Duration
(years)
5.91
Asset Allocation:
Equity Fixed Income Cash & Equivalents
Sector Allocation % OF FUND % OF FUND (As of 04/30/2021)
Information Technology 20.36
Consumer Discretionary 11.13
Health Care 9.50
Communication Services 6.55
Financials 6.35
Industrials 5.86
Consumer Staples 4.09
Materials 0.47
Real Estate 0.40
Treasuries 8.45
Credit-Investment Grade 8.41
Credit-High Yield 5.61
MBS 4.97
CMBS 2.13
CMO 1.93
ABS 1.83
Inflation Linked 1.45
Bank Loans 0.19
Regional Allocations % OF FUND % OF FUND (As of 04/30/2021)
North America 98.40
Europe 0.88
Asia/Pacific Ex Japan 0.36
Latin America 0.04
Cash & Equivalents 0.32
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF FUND (As of 04/30/2021)
Over $100B 48.87
$50B to $100B 10.25
$10B to $50B 5.37
N/A 0.22
Developed VS Emerging Markets % OF FUND % OF FUND (As of 04/30/2021)
U.S. 98.26
Non-U.S. Developed 1.10
Non-U.S. Emerging 0.32
Cash & Equivalents 0.32
MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS % OF FUND % OF FUND (As of 04/30/2021)
< 1 yr 1.28
1 - 3 yrs 6.11
3 - 5 yrs 8.14
5 - 7 yrs 4.83
7 - 10 yrs 9.37
10 - 20 yrs 1.51
> 20 yrs 2.67
N/A 1.06
Credit Quality of Fixed Income Holdings % OF FUND % OF FUND (As of 04/30/2021)
Aaa 16.97
Aa 0.49
A 2.71
Baa 7.76
Ba 4.89
B 1.65
NOT RATED 0.50

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