Please ensure Javascript is enabled for purposes of website accessibility Short Duration Flexible Bond Fund - Janus Henderson Investors
For Financial Professionals in the US

JSHIX Short Duration Flexible Bond Fund

Core fund that benefits from a bottom-up, fundamentally driven investment process designed to generate risk adjusted returns and preserve capital

NAV
$2.84
As of 04/24/2024

1-Day Change
$0.00 (0.01%)
 As of 04/24/2024

YTD Return
0.88%
As of 04/24/2024

Overview

ABOUT THIS FUND

This dynamic, short-duration bond fund seeks risk-adjusted returns and capital preservation. Our approach leverages a bottom-up, fundamentally driven investment process.

WHY INVEST IN THIS FUND

Dynamic Core Short-Duration Bond Holding
The Fund emphasizes risk-adjusted returns and capital preservation while seeking to identify the best opportunities across fixed income sectors using a bottom-up, fundamentally driven investment process.

Integrated Research
Partnership and fluid communication between fixed income and equity analysts promote idea generation. Credit research emphasizes free cash flow generation, quality of management and security valuation.

Sophisticated Risk Management
Our proprietary fixed income portfolio and risk-management system, Quantum Global, is integrated into the investment process at each step. We identify and measure the sources of risk in the portfolio at multiple levels to confirm that the portfolio is positioned as intended.

PORTFOLIO MANAGEMENT

Greg Wilensky, CFA

Greg Wilensky, CFA

Head of U.S. Fixed Income | Portfolio Manager

Industry since 1993. Joined Firm in 2020.

Michael Keough

Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Performance

RETURNS (%) (As of 03/31/2024)
Short Duration Flexible Bond Fund - I Shares Bloomberg 1-3 Year U.S. Government/Credit Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Short Duration Flexible Bond Fund - I Shares 1.24 1.24 5.24 0.45 1.62 1.44 3.36
Bloomberg 1-3 Year U.S. Government/Credit Index 0.42 0.42 3.49 0.25 1.35 1.29 3.40
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.
Performance for Class I Shares that includes periods prior to 7/6/09 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

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

RETURNS (%) (As of 03/31/2024)
Short Duration Flexible Bond Fund - I Shares Bloomberg 1-3 Year U.S. Government/Credit Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Short Duration Flexible Bond Fund - I Shares 1.24 1.24 5.24 0.45 1.62 1.44 3.36
Bloomberg 1-3 Year U.S. Government/Credit Index 0.42 0.42 3.49 0.25 1.35 1.29 3.40
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.
Performance for Class I Shares that includes periods prior to 7/6/09 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

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

Calendar Year Returns (%)
Short Duration Flexible Bond Fund - I Shares Bloomberg 1-3 Year U.S. Government/Credit Index
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Short Duration Flexible Bond Fund - I Shares 5.56 -5.57 0.24 4.50 4.21 0.95 1.33 1.66 0.38 0.73
Bloomberg 1-3 Year U.S. Government/Credit Index 4.61 -3.69 -0.47 3.33 4.03 1.60 0.84 1.28 0.65 0.77

MORNINGSTAR PERCENTILE

(As Of 03/31/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 34 48 52 63 44
Short-Term Bond | Rank/Count 162/566 237/546 239/524 254/447 53/149
(As Of 03/31/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 34 48 52 63 44
Short-Term Bond | Rank / Count 162/566 237/546 239/524 254/447 53/149

GROWTH OF A HYPOTHETICAL INVESTMENT

Short Duration Flexible Bond Fund - I Shares Bloomberg 1-3 Year U.S. Government/Credit Index Short-Term Bond
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).

RETURNS-BASED STATISTICS (As of 03/31/2024 Class I Shares)

RISK / REWARD
VS. Bloomberg 1-3 Year US Govt/Credit TR Index		 3YR 5YR
Information Ratio 0.14 0.12
Alpha 0.86 0.43
Tracking Error 1.45 2.13
Beta 1.27 1.21
R-squared (%) 81.65 53.63
UP/DOWN MARKET CAPTURE (%)
VS. Bloomberg 1-3 Year US Govt/Credit TR Index		 3YR 5YR
Up Capture Ratio 133.03 126.11
Down Capture Ratio 126.53 128.79
STANDARD DEVIATION 3YR 5YR
Short Duration Flexible Bond Fund 3.10 3.08
Bloomberg 1-3 Year US Govt/Credit TR Index 2.22 1.86
SHARPE RATIO 3YR 5YR
Short Duration Flexible Bond Fund -0.72 -0.13
Bloomberg 1-3 Year US Govt/Credit TR Index -1.09 -0.35
ANNUAL FEES & EXPENSES (As of the most recent prospectus)
CLASS I SHARES
Management Fees 0.44%
Other Expenses 0.22%
Total Gross Expenses 0.66%
Waivers -0.21%
Total Net Expenses 0.45%
Net expense ratios reflect the expense waiver, if any, contractually agreed to for at least a one-year period commencing on October 27, 2023. This contractual waiver may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

Index represents the Bloomberg Barclays 1-3 Year U.S. Government/Credit Index.

Top Holdings (As of 03/31/2024)
% of Fund
United States Treasury Note/Bond, 4.62%, 06/30/25 8.29
United States Treasury Note/Bond, 4.25%, 12/31/24 2.14
Centene Corp, 4.25%, 12/15/27 1.80
CF Hippolyta Issuer LLC, 5.97%, 08/15/62 1.67
JPMorgan Chase & Co, 4.08%, 04/26/26 0.92
Danske Bank A/S, 6.47%, 01/09/26 0.92
Bank of America NA, 5.53%, 08/18/26 0.89
Charles Schwab Corp, 5.88%, 08/24/26 0.88
Celanese US Holdings LLC, 6.35%, 11/15/28 0.87
PNC Financial Services Group Inc, 6.62%, 10/20/27 0.83
TOTAL 19.21
View full holdings
Portfolio Characteristics (As of 03/31/2024)
  FUND INDEX
Number of Holdings
Debt Issues		 383 2008
Portfolio Turnover Rate
(1-year trailing)		 109.49% -
Weighted Average Maturity
(years)		 3.17 1.88
Effective Duration
(years)		 2.30 1.77
Yield to Worst
 5.94% 4.87%

Yield to Worst is a portfolio level calculation that excludes cash and cash related costs.
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 03/31/2024)
Fixed Income country and/or regional weights primarily based on Bloomberg classifications.
Regional Allocation % OF FUND % of Index % OF FUND % of Index (As of 03/31/2024)
Developed vs Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 03/31/2024)
Maturity Breakdown of Fixed Income Holdings % OF FUND % of Index % OF FUND % of Index (As of 03/31/2024)
Credit Quality of Fixed Income Holdings % OF FUND % of Index % OF FUND % of Index (As of 03/31/2024)
Credit quality ratings reflect the middle rating received from Moody’s, Standard & Poor’s and Fitch, where all three agencies have provided a rating. If only two agencies rate a security, the lowest rating is used. If only one agency rates a security, that rating is used. Ratings are measured on a scale that ranges from Aaa (highest) to D (lowest).

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