Please ensure Javascript is enabled for purposes of website accessibility Balanced Fund - Janus Henderson Investors - US Advisor
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For Financial Professionals in the US

JABCX Balanced Fund

For 30 years, this dynamic allocation strategy has delivered our equity and fixed income expertise in a one-stop core solution.

NAV
$49.17
As of 09/08/2026

1-Day Change
-$0.28 (-0.57%)
 As of 09/08/2026

YTD Return at NAV
4.27%
As of 09/08/2026

Overview

Quarterly Update

The investment team recap this quarter.

(Note: Filmed in July 2026).

30 YEAR HISTORY OF

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

Fund Highlights

  • High-conviction large-cap growth equities paired with an active intermediate-term bond strategy
  • Dynamic asset allocation approach that migrates between 35%-70% 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

Portfolio Management

Jeremiah Buckley, CFA

Portfolio Manager

Industry since 1998. Joined Firm in 1998.

Greg Wilensky, CFA

Head of US Fixed Income/Head of Core Plus | Portfolio Manager

Industry since 1993. Joined Firm in 2020.

Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Performance

RETURNS (%) (As of 06/30/2026)
Balanced Fund - C Shares (NAV) Balanced Fund - C Shares (CDSC) S&P 500® Index Bloomberg U.S. Aggregate Bond Index Balanced Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Balanced Fund - C Shares (NAV) 9.08 3.51 9.93 12.40 6.49 9.57 8.96
Balanced Fund - C Shares (CDSC) 8.08 2.51 8.93 12.40 6.49 9.57 8.96
S&P 500® Index 15.20 10.21 22.32 20.61 13.41 15.51 11.02
Bloomberg U.S. Aggregate Bond Index 0.67 0.62 3.79 4.16 0.08 1.54 4.50
Balanced Index 9.31 6.45 14.76 13.64 7.75 9.44 8.38
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
CDSC returns include a 1% contingent deferred sales charge (CDSC) on Shares redeemed within 12 months of purchase. Net Asset Value (NAV) returns exclude this charge, which would have reduced returns.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Mutual fund performance for some periods may incorporate returns from older share classes, adjusted for fees and expenses. Visit janushenderson.com/synthetic for specific details.
RETURNS (%) (As of 07/31/2026)
Balanced Fund - C Shares (NAV) Balanced Fund - C Shares (CDSC) S&P 500® Index Bloomberg U.S. Aggregate Bond Index Balanced Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Balanced Fund - C Shares (NAV) 2.40 3.27 8.33 11.63 5.93 9.21 8.93
Balanced Fund - C Shares (CDSC) 1.40 2.27 7.33 11.63 5.93 9.21 8.93
S&P 500® Index 4.19 10.14 19.56 19.32 12.86 15.08 10.99
Bloomberg U.S. Aggregate Bond Index -0.76 -0.69 2.71 3.73 -0.40 1.35 4.45
Balanced Index 2.22 5.85 12.72 12.78 7.24 9.13 8.34
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
CDSC returns include a 1% contingent deferred sales charge (CDSC) on Shares redeemed within 12 months of purchase. Net Asset Value (NAV) returns exclude this charge, which would have reduced returns.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Mutual fund performance for some periods may incorporate returns from older share classes, adjusted for fees and expenses. Visit janushenderson.com/synthetic for specific details.
Calendar Year Returns (%)
Balanced Fund - C Shares (NAV) S&P 500® Index
2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Balanced Fund - C Shares (NAV) 13.95 14.31 14.33 -17.34 16.14 13.32 21.45 -0.31 17.42 3.63
S&P 500® Index 17.88 25.02 26.29 -18.11 28.71 18.40 31.49 -4.38 21.83 11.96
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
Fund returns shown are at Net Asset Value (NAV) and exclude sales charges, which would have reduced returns.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Mutual fund performance for some periods may incorporate returns from older share classes, adjusted for fees and expenses. Visit janushenderson.com/synthetic for specific details.

Morningstar Percentile

 (As of 06/30/2026) 1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 86 55 60 28 26
US Fund Moderate Allocation | Rank/Count 418/477 285/463 290/450 120/419 51/173
 (As of 08/31/2026) 1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 88 53 66 25 26
US Fund Moderate Allocation | Rank / Count 435/480 289/467 325/454 106/422 51/173

Growth of a Hypothetical Investment

Balanced Fund - C Shares (NAV) S&P 500® Index Bloomberg U.S. Aggregate Bond Index Balanced Index Moderate Allocation
Fund returns shown are at Net Asset Value (NAV) and exclude sales charges, which would have reduced returns.
Source: Morningstar, Inc.

This graph compares the performance of a hypothetical $1 investment in the fund, the fund’s Morningstar category average and its benchmark(s). Fund performance is on a Net Asset Value (NAV) basis with net income reinvested where applicable.

Returns-Based Statistics (As of 07/31/2026 Class I Shares)

RISK / REWARD
VS. Balanced Index (60%S&P500/40%BBUSAgg)		 3YR 5YR
Information Ratio -0.04 -0.17
Alpha -0.34 -0.37
Tracking Error 1.97 1.77
Beta 1.04 1.03
R-squared (%) 95.93 97.65
UP/DOWN MARKET CAPTURE (%)
Balanced Index (60%S&P500/40%BBUSAgg)		 3YR 5YR
Up Capture Ratio 99.86 100.41
Down Capture Ratio 100.71 102.51
STANDARD DEVIATION 3YR 5YR
Balanced Fund 9.70 11.39
Balanced Index (60%S&P500/40%BBUSAgg) 9.13 10.90
SHARPE RATIO 3YR 5YR
Balanced Fund 0.78 0.27
Balanced Index (60%S&P500/40%BBUSAgg) 0.84 0.31
Annual Fees & Expenses (As of the most recent prospectus)
CLASS C SHARES
Management Fees 0.55%
12b-1 Fees 1.00%
Other Expenses 0.08%
Total Gross Expenses 1.63%
Waivers 0.00%
Total Net Expenses 1.63%

Net expense ratios reflect the expense waiver, if any, contractually agreed to for a one-year period commencing on January 28, 2026. This contractual waiver may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

Index represents the S&P 500® Index.

Top Holdings (As of 07/31/2026)
Holding % of Fund
NVIDIA Corp 5.71
Alphabet Inc 4.59
Microsoft Corp 4.21
United States Treasury Note/Bond, 4.13%, 06/30/2031 3.66
Amazon.com Inc 3.24
Apple Inc 3.06
Broadcom Inc 2.58
Micron Technology Inc 1.58
JPMorgan Chase & Co 1.49
Eli Lilly & Co 1.47
TOTAL 31.59
View full holdings
Portfolio Characteristics (As of 07/31/2026)
 
Number of Holdings
Equity Issues		 67
Number of Holdings
Debt Issues		 668
Market Capitalization
Weighted Average		 $1,524.11B
Portfolio Turnover Rate
(1-year trailing)		 89.67%
Price/Earnings Ratio
(1-year forward)		 20.11
Price/Book Ratio
 6.52
Earnings Growth Rate
(1-year forward)		 23.72%
Weighted Average Maturity
(years)		 2.32
Effective Duration
(years)		 5.65
Yield to Worst
 5.61%
Asset Allocation:
Equity Fixed Income Cash Equivalents & Other
Sector Allocation % of Fund % of Fund As of 07/31/2026

Equity country, regional, sector and industry weights primarily based on MSCI and GICS classifications. Fixed income country, regional, sector and industry weights primarily based on Bloomberg classifications.

Regional Allocation % of Fund % of Fund As of 07/31/2026
Market Capitalization Range of Equity Holdings % of Fund % of Fund As of 07/31/2026
Developed vs Emerging Markets % of Fund % of Fund As of 07/31/2026
Credit Quality of Fixed Income Holdings % of Fund % of Fund As of 07/31/2026

The credit rating displayed is determined based on the availability of ratings from specific agencies. If Moody's, S&P, and Fitch all provide ratings, the middle rating of the three is shown. If only two of these agencies provide ratings, the more conservative (lower) rating is displayed. Should only one of these agencies offer a rating, that rating alone is used. In cases where none of the primary agencies (Moody's, S&P, Fitch) provide a rating, ratings from secondary agencies KBRA or DBRS are considered. If both secondary agencies provide ratings, the more conservative of the two is shown. If only one secondary agency provides a rating, that rating is displayed.

Maturity Breakdown of Fixed Income Holdings % of Fund % of Fund As of 07/31/2026

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