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

JHYFX High-Yield Fund

A high-conviction active high-yield portfolio that focuses on taking the appropriate amount of risk throughout the credit cycle

NAV
$7.42
As of 12/04/2024

1-Day Change
$0.01 (0.15%)
As of 12/04/2024

YTD Return
9.11%
As of 12/04/2024

Overview

ABOUT THIS FUND

A high-conviction, active high-yield strategy that seeks to generate competitive risk-adjusted returns while mitigating drawdowns. The strategy takes a research-first mentality on both macro and security selection risks.

WHY INVEST IN THIS FUND

High Conviction
We believe a high conviction approach is essential to unlocking competitive excess returns and monitoring high-yield risk for our clients. We are focused on taking the appropriate amount of risk throughout the credit cycle by actively managing market exposure and portfolio composition.

Research Driven
Our analysts cover issuers across the credit quality spectrum and capital structure, enabling a complete picture of fundamental credit risk. Analysts function as sector experts and risk managers alongside portfolio managers to identify potential outperformers.

Global Resources
This U.S. strategy benefits from our team of global credit experts. Instead of separate teams, we operate as one team globally looking at companies.

Portfolio Management

Tom Ross, CFA

Head of High Yield | Portfolio Manager

Industry since 2002. Joined Firm in 2002.

Brent Olson

Portfolio Manager

Industry since 1997. Joined Firm in 2017.

Brad Smith

Portfolio Manager

Industry since 2010. Joined Firm in 2010.

Performance

RETURNS (%) (As of 09/30/2024)
High-Yield Fund - I Shares Bloomberg U.S. Corporate High Yield Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/29/1995)
High-Yield Fund - I Shares 4.64 8.02 15.43 1.14 3.38 4.04 6.64
Bloomberg U.S. Corporate High Yield Bond Index 5.28 8.00 15.74 3.10 4.72 5.04 6.66
RETURNS (%) (As of 10/31/2024)
High-Yield Fund - I Shares Bloomberg U.S. Corporate High Yield Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/29/1995)
High-Yield Fund - I Shares 1.98 7.31 17.09 1.06 3.15 3.92 6.60
Bloomberg U.S. Corporate High Yield Bond Index 2.72 7.42 16.47 2.97 4.54 4.86 6.62
Calendar Year Returns (%)
High-Yield Fund - I Shares Bloomberg U.S. Corporate High Yield Bond Index
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
High-Yield Fund - I Shares 11.77 -14.88 5.72 5.64 15.50 -2.92 6.16 13.15 -1.24 0.74
Bloomberg U.S. Corporate High Yield Bond Index 13.44 -11.19 5.28 7.11 14.32 -2.08 7.50 17.13 -4.47 2.45

Morningstar Percentile

 (As of 09/30/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 24 96 81 58 10
High Yield Bond | Rank/Count 146/661 584/616 464/590 298/522 14/179
 (As of 11/30/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 20 95 81 54 11
High Yield Bond | Rank / Count 140/652 565/606 457/578 275/516 15/179

Growth of a Hypothetical Investment

High-Yield Fund - I Shares Bloomberg U.S. Corporate High Yield Bond Index High Yield Bond

Returns-Based Statistics (As of 10/31/2024 Class I Shares)

RISK / REWARD
VS. Bloomberg U.S. Corporate High Yield Bond TR Index
3YR 5YR
Information Ratio -1.36 -0.90
Alpha -1.76 -1.49
Tracking Error 1.37 1.48
Beta 1.09 1.10
R-squared (%) 98.50 98.86
UP/DOWN MARKET CAPTURE (%)
Bloomberg U.S. Corporate High Yield Bond TR Index
3YR 5YR
Up Capture Ratio 98.17 101.30
Down Capture Ratio 114.79 114.50
STANDARD DEVIATION 3YR 5YR
High-Yield Fund 9.33 10.31
Bloomberg U.S. Corporate High Yield Bond TR Index 8.53 9.36
SHARPE RATIO 3YR 5YR
High-Yield Fund -0.28 0.07
Bloomberg U.S. Corporate High Yield Bond TR Index -0.09 0.22
Annual Fees & Expenses (As of the most recent prospectus)
CLASS I SHARES
Management Fees 0.59%
Other Expenses 0.17%
Total Gross Expenses 0.76%
Waivers -0.02%
Total Net Expenses 0.74%

Portfolio

Index represents the Bloomberg Barclays U.S. Corporate High Yield Bond Index.

Top Holdings (As of 10/31/2024)
% of Fund
US 2YR NOTE (CBT) Dec24 DEC 24 9.75
FTAI Infra Escrow Holdings LLC, 10.50%, 06/01/27 2.01
Cargo Aircraft Management Inc, 4.75%, 02/01/28 1.65
Standard Industries Inc/NY, 3.38%, 01/15/31 1.48
LifePoint Health Inc, 10.00%, 06/01/32 1.47
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp, 6.00%, 09/01/31 1.42
Heartland Dental LLC / Heartland Dental Finance Corp, 10.50%, 04/30/28 1.38
US LONG BOND(CBT) Dec24 DEC 24 1.22
FMG Resources August 2006 Pty Ltd, 4.38%, 04/01/31 1.21
BroadStreet Partners Inc, 5.88%, 04/15/29 1.17
TOTAL 22.76
View full holdings
Portfolio Characteristics (As of 10/31/2024)
  FUND INDEX
Number of Holdings
Debt Issues
166 1918
Portfolio Turnover Rate
(1-year trailing)
97.15% -
Weighted Average Maturity
(years)
5.16 4.78
Effective Duration
(years)
3.11 3.04
Yield to Worst
7.35% 7.30%
Sector Allocation % of Fund % of Index % of Fund % of Index As of 10/31/2024
Regional Allocation % of Fund % of Index % of Fund % of Index As of 10/31/2024
Developed vs Emerging Markets % of Fund % of Index % of Fund % of Index As of 10/31/2024
Credit Quality of Fixed Income Holdings % of Fund % of Index % of Fund % of Index As of 10/31/2024
Maturity Breakdown of Fixed Income Holdings % of Fund % of Index % of Fund % of Index As of 10/31/2024

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