For Financial Professionals in the US

JVSIX Small-Mid Cap Value Fund

Defensive-minded specialists aiming to identify undervalued small- and mid-cap opportunities

NAV
$12.83
As of 01/26/2021

1-Day Change
-$0.13 (-1.00%)
As of 01/26/2021

YTD Return
2.07%
As of 01/26/2021

Morningstar Rating

As of 12/31/2020

Overview

ABOUT THIS FUND

As defensive value specialists, we look to invest in high-quality companies with strong management teams, stable balance sheets, and durable competitive advantages that are trading at attractive valuations. We seek to achieve excess returns over full market cycles, with less risk than our benchmark and peers as measured by standard deviation, beta and down market capture.

WHY INVEST IN THIS FUND

Attractive Reward/Risk
Our disciplined valuation process measures downside risk before upside potential and invests in securities with favorable reward/risk ratios.

High-Conviction Process
The portfolio typically holds between 30 to 50 stocks with business fundamentals considered more important than fluctuations in the wider economy.

Different Than the Benchmark
The benchmark is not used as a starting point for portfolio construction, which should lead to high active share.

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

Kevin Preloger

Portfolio Manager

Industry since 1997. Joined Firm in 2002.

Justin Tugman, CFA

Portfolio Manager

Industry since 2000. Joined Firm in 2004.

Performance

RETURNS (%) (As of 12/31/2020)
Small-Mid Cap Value Fund - Class I Shares Russell 2500™ Value Index Russell 3000® Value Index
 
3M YTD 1YR 3YR 5YR Since Inception
(12/15/2011)
Small-Mid Cap Value Fund - Class I Shares 23.34 -3.09 -3.09 4.53 9.26 10.03
Russell 2500™ Value Index 28.51 4.88 4.88 4.34 9.43 8.49
Russell 3000® Value Index 17.21 2.87 2.87 5.89 9.74 10.37
RETURNS (%) (As of 12/31/2020)
Small-Mid Cap Value Fund - Class I Shares Russell 2500™ Value Index Russell 3000® Value Index
 
3M YTD 1YR 3YR 5YR Since Inception
(12/15/2011)
Small-Mid Cap Value Fund - Class I Shares 23.34 -3.09 -3.09 4.53 9.26 10.03
Russell 2500™ Value Index 28.51 4.88 4.88 4.34 9.43 10.57
Russell 3000® Value Index 17.21 2.87 2.87 5.89 9.74 11.64
CALENDAR YEAR RETURNS (%)
Small-Mid Cap Value Fund - Class I Shares Russell 2500™ Value Index
2012 2013 2014 2015 2016 2017 2018 2019 2020
Small-Mid Cap Value Fund - Class I Shares 12.48 23.08 7.42 0.17 19.52 14.05 -7.12 26.89 -3.09
Russell 2500™ Value Index 19.21 33.32 7.11 -5.49 25.20 10.36 -12.36 23.56 4.88

MORNINGSTAR PERCENTILE

(As Of 12/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 84 45 42 - 78
Mid-Cap Value Category|Rank/Count 365/419 172/413 144/392 -/- 255/347
(As Of 12/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 84 45 42 - 78
Mid-Cap Value Category|Rank/Count 365/419 172/413 144/392 -/- 255/347
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 12/31/2020 Class I Shares)

RISK / REWARD
VS. Russell 2500™ Value Index
3YR 5YR
Information Ratio 0.03 -0.03
Alpha 0.62 1.59
Tracking Error 7.07 6.13
Beta 0.78 0.77
R-squared (%) 95.43 94.70
UP/DOWN MARKET CAPTURE (%)
VS. Russell 2500™ Value Index
3YR 5YR
Up Capture Ratio 76.72 78.31
Down Capture Ratio 78.54 74.89
STANDARD DEVIATION 3YR 5YR
Small-Mid Cap Value Fund 20.29 16.58
Russell 2500™ Value Index 25.40 20.93
SHARPE RATIO 3YR 5YR
Small-Mid Cap Value Fund 0.15 0.49
Russell 2500™ Value Index 0.11 0.40
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/2020)
CLASS I SHARES
Management Fees 0.90%
Other Expenses 0.57%
Total Gross Expenses 1.47%
Waivers -0.34%
Total Net Expenses 1.13%

Portfolio

Index represents the Russell 2500™ Value Index.

Top Holdings (As of 12/31/2020)
% of Fund
WSFS Financial Corp 3.06
Nomad Foods Ltd 2.84
First Horizon Corp 2.53
Black Hills Corp 2.51
Atlantic Union Bankshares Corp 2.48
Hanover Insurance Group Inc 2.46
WNS Holdings Ltd (ADR) 2.44
Casey's General Stores Inc 2.42
Washington Federal Inc 2.41
Hartford Financial Services Group Inc 2.37
Total 25.52
View Full Holdings
Portfolio Characteristics (As of 12/31/2020)
  FUND INDEX
Number of Holdings
Equity Issues
50 1926
Market Capitalization
Weighted Average
$5.10B $6.07B
Portfolio Turnover Rate
(1-year trailing)
151.33% -
Price/Earnings Ratio
(1-year forward)
22.61 23.50
Price/Book Ratio
(1-year forward)
3.18 2.51
Earnings Growth Rate
(1-year forward)
-7.76% -17.58%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 12/31/2020)
Industrials 22.95 17.58
Financials 20.79 20.68
Materials 12.85 7.04
Real Estate 11.08 11.21
Consumer Discretionary 10.31 13.30
Information Technology 9.33 9.31
Consumer Staples 5.25 3.46
Utilities 4.23 4.11
Cash & Equivalents 3.21 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 12/31/2020)
North America 91.52 99.20
Europe 2.83 0.53
Asia/Pacific Ex Japan 2.44 0.14
Cash & Equivalents 3.21 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 12/31/2020)
$10B to $50B 7.26 15.09
$5B to $10B 26.77 37.75
$1B to $5B 61.02 39.45
$500M to $1B 1.74 4.80
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 12/31/2020)
U.S. 91.52 99.07
Non-U.S. Developed 2.83 0.76
Non-U.S. Emerging 2.44 0.17
Cash & Equivalents 3.21 -

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