JSHIX Short-Term Bond Fund

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

NAV
$3.02
As of 10/15/2019

1 Day Change
$0.00 (0.01%)
As of 10/15/2019

YTD Return
3.65%
As of 10/15/2019

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.

Knowledge. Shared

At Janus Henderson, we believe in the sharing of expert insight for better investment and business decisions.

We call this ethos Knowledge. Shared.

PORTFOLIO MANAGEMENT

Darrell Watters

Head of U.S. Fundamental Fixed Income | Portfolio Manager

Industry since 1986. Joined Firm in 1993.

Mayur Saigal

Portfolio Manager

Industry since 2002. Joined Firm in 2005.

Performance

RETURNS (%) (As of 09/30/2019)
Short-Term Bond Fund - Class I Shares Bloomberg Barclays 1-3 Year U.S. Government/Credit Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Short-Term Bond Fund - Class I Shares 0.59% 3.56% 3.86% 1.84% 1.61% 2.06% 3.70%
Bloomberg Barclays 1-3 Year U.S. Government/Credit Index 0.69% 3.42% 4.64% 1.82% 1.59% 1.52% 3.80%
RETURNS (%) (As of 09/30/2019)
Short-Term Bond Fund - Class I Shares Bloomberg Barclays 1-3 Year U.S. Government/Credit Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Short-Term Bond Fund - Class I Shares 0.59% 3.56% 3.86% 1.84% 1.61% 2.06% 3.70%
Bloomberg Barclays 1-3 Year U.S. Government/Credit Index 0.69% 3.42% 4.64% 1.82% 1.59% 1.52% 3.80%
CALENDAR YEAR RETURNS (%)
Short-Term Bond Fund - Class I Shares Bloomberg Barclays 1-3 Year U.S. Government/Credit Index
 
  2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Short-Term Bond Fund - Class I Shares 8.06 3.96 1.62 3.68 1.57 0.73 0.38 1.66 1.33 0.95
Bloomberg Barclays 1-3 Year U.S. Government/Credit Index 3.83 2.80 1.59 1.26 0.64 0.77 0.65 1.28 0.84 1.60

MORNINGSTAR PERCENTILE

(As Of 09/30/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 79 67 69 55 43
Short-Term Bond Category|Rank/Count 447/566 326/530 320/498 213/397 57/156
(As Of 09/30/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 79 67 69 55 43
Short-Term Bond Category|Rank/Count 447/566 326/530 320/498 213/397 57/156
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 09/30/2019 Class I Shares)

Risk / Reward
vs. Bloomberg Barclays 1-3 Year U.S. Government/Credit Index
3YR 5YR
Information Ratio 0.03 0.03
Alpha 0.45 0.35
Tracking Error 0.78 0.73
Beta 0.76 0.79
R-squared (%) 50.46 51.77
Up And Down Market Capture (%)
vs. Bloomberg Barclays 1-3 Year U.S. Government/Credit Index
3YR 5YR
Up Capture Ratio 95.97 98.56
Down Capture Ratio 76.33 89.71
Standard Deviation 3YR 5YR
Short-Term Bond Fund 1.06 1.01
Bloomberg Barclays 1-3 Year U.S. Government/Credit Index 0.99 0.92
Sharpe Ratio 3YR 5YR
Short-Term Bond Fund 0.30 0.65
Bloomberg Barclays 1-3 Year U.S. Government/Credit Index 0.30 0.69
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/2018)
CLASS I SHARES
Management Fees 0.44%
12b-1 Fees -
Other Expenses 0.13%
Total Gross Expenses 0.57%
Waivers -0.05%
Total Net Expenses 0.52%

Portfolio

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

(As of 09/30/2019)
% of Fund
United States Treasury Note/Bond, 2.50%, 02/28/21 6.15
United States Treasury Note/Bond, 2.25%, 04/30/24 5.20
United States Treasury Note/Bond, 1.75%, 06/15/22 3.32
United States Treasury Note/Bond, 1.75%, 07/31/24 2.28
United States Treasury Note/Bond, 2.62%, 12/15/21 2.24
Kinder Morgan Inc/DE, 3.05%, 12/01/19 2.05
United States Treasury Note/Bond, 2.00%, 05/31/24 2.04
United States Treasury Note/Bond, 1.75%, 06/30/24 2.03
Citigroup Inc, 2.45%, 01/10/20 1.99
United States Treasury Note/Bond, 2.25%, 03/31/21 1.90
Total: 29.20
View full holdings
Portfolio Characteristics (As of 09/30/2019)
  FUND INDEX
Number of Holdings
Debt Issues
147 1614
Portfolio Turnover Rate
(1-year trailing)
62.64% -
Weighted Average Maturity
(years)
2.14 1.89
Effective Duration
(years)
1.65 1.81

Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 09/30/2019)
Credit-Investment Grade 37.14 23.60
Treasuries 29.85 66.36
Credit-High Yield 16.17 -
ABS 12.21 -
Bank Loans 1.91 -
CMO 1.38 -
Government Related 0.44 9.51
CMBS 0.37 -
Cash & Equivalents 0.53 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 09/30/2019)
North America 92.91 89.86
Europe 3.93 4.74
Asia/Pacific Ex Japan 1.33 0.85
Japan 1.00 0.83
Africa/Mideast 0.30 0.03
Cash & Equivalents 0.53 -
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 09/30/2019)
U.S. 89.83 88.18
Non-U.S. Developed 9.34 7.61
Non-U.S. Emerging 0.30 0.80
Cash & Equivalents 0.53 -
MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS (As of 09/30/19) % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 09/30/2019)
< 1 yr 25.22 3.65
1 - 3 yrs 50.68 96.35
3 - 5 yrs 20.24 -
5 - 7 yrs 3.33 -
Credit Quality of Fixed Income Holdings % OF FUND % of Index % OF FUND % of Index (As of 09/30/2019)
Aaa 37.62 73.51
Aa 5.07 5.41
A 12.19 10.98
Baa 27.00 10.10
Ba 15.27 -
B 1.46 -
NOT RATED 0.86 -

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