For Financial Professionals in the US

JVTSX Venture Fund

Our in-depth fundamental research seeks resilient small-cap companies using their competitive advantages to grow over a multi-year time frame

NAV
$70.79
As of 06/05/2023

1-Day Change
-$0.35 (-0.49%)
 As of 06/05/2023

YTD Return
6.87%
As of 06/05/2023

Overview

ABOUT THIS FUND

A moderately positioned U.S. small-cap growth fund seeking to provide consistent relative returns with lower volatility than the index. Invests in small-cap companies with differentiated business models and sustainable competitive advantages that we believe are positioned to grow market share regardless of economic conditions.

WHY INVEST IN THIS FUND

Unique Business Models
Seeks small-cap companies that are differentiated from competitors – differentiated business model, innovative approach or unique products or services – that are using their competitive advantages to grow over a multi-year time frame.

Deep, Specialized Team
In-depth fundamental research supported by a broad team of analysts and a team of small-mid cap specialists, and a portfolio management team with experience identifying small-cap companies early in their life cycle.

Moderate Approach to Growth
Offers potential for capital appreciation through exposure to small and fast growing companies with a focus on resilient business models positioned to weather a variety of market environments.

Knowledge Shared

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.

View Our Insights

AN UNCOMPROMISING APPROACH

Equity markets may shift.
Our focus never does.

Learn more
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PORTFOLIO MANAGEMENT

Jonathan Coleman, CFA

Jonathan Coleman, CFA

Portfolio Manager

Industry since 1994. Joined Firm in 1994.

Scott Stutzman, CFA

Scott Stutzman, CFA

Portfolio Manager | Research Analyst

Industry since 2001. Joined Firm in 2007.

Performance

RETURNS (%) (As of 03/31/2023)
Venture Fund - Class S Shares Russell 2000® Growth Index Russell 2000® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(04/30/1985)
Venture Fund - Class S Shares 7.76 7.76 -6.07 15.60 6.06 9.78 11.21
Russell 2000® Growth Index 6.07 6.07 -10.60 13.36 4.26 8.49 7.87
Russell 2000® Index 2.74 2.74 -11.61 17.51 4.71 8.04 9.18
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 S Shares that includes periods prior to 5/6/11, reflects the performance of one or more share classes of the 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 05/31/2023)
Venture Fund - Class S Shares Russell 2000® Growth Index Russell 2000® Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(04/30/1985)
Venture Fund - Class S Shares -4.86 3.62 0.97 5.57 4.02 8.84 11.05
Russell 2000® Growth Index -3.58 4.86 2.68 4.62 2.74 7.90 7.80
Russell 2000® Index -7.35 -0.04 -4.68 9.23 2.74 7.36 9.06
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 S Shares that includes periods prior to 5/6/11, reflects the performance of one or more share classes of the 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 (%)
Venture Fund - Class S Shares Russell 2000® Growth Index
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Venture Fund - Class S Shares -24.45 7.26 31.14 30.32 -6.93 23.83 6.81 -1.14 9.94 41.34
Russell 2000® Growth Index -26.36 2.83 34.63 28.48 -9.31 22.17 11.32 -1.38 5.60 43.30

MORNINGSTAR PERCENTILE

(As Of 03/31/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 14 52 66 43 19
Small Growth | Rank/Count 63/612 274/597 357/576 237/533 10/47
(As Of 05/31/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 32 54 66 52 19
Small Growth | Rank / Count 175/596 273/581 362/561 265/521 10/47
GROWTH OF A HYPOTHETICAL INVESTMENT
Source: Morningstar, Inc.
This graph compares the performance of a hypothetical $10,000 investment in the fund, the fund’s Morningstar category average and its benchmark(s).

RETURNS-BASED STATISTICS (As of 04/30/2023 Class I Shares)

RISK / REWARD
VS. Russell 2000® Growth Index		 3YR 5YR
Information Ratio 0.38 0.44
Alpha 2.84 2.29
Tracking Error 5.83 4.97
Beta 0.88 0.91
R-squared (%) 93.82 96.05
UP/DOWN MARKET CAPTURE (%)
VS. Russell 2000® Growth Index		 3YR 5YR
Up Capture Ratio 91.29 92.04
Down Capture Ratio 84.48 87.27
STANDARD DEVIATION 3YR 5YR
Venture Fund 20.57 22.67
Russell 2000® Growth Index 22.72 24.31
SHARPE RATIO 3YR 5YR
Venture Fund 0.44 0.21
Russell 2000® Growth Index 0.30 0.10
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2022)
CLASS S SHARES
Management Fees 0.64%
12b-1 Fees 0.25%
Other Expenses 0.28%
Total Gross Expenses 1.17%
Waivers 0.00%
Total Net Expenses 1.17%
Net expense ratios reflect the expense waiver, if any, contractually agreed to for at least a one-year period commencing on January 27, 2023. This contractual waiver may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

Index represents the Russell 2000® Growth Index.

Top Holdings (As of 04/30/2023)
% of Fund
Rentokil Initial PLC (ADR) 2.34
ATS Corp 2.21
Nice Ltd (ADR) 2.19
WNS Holdings Ltd (ADR) 2.02
SS&C Technologies Holdings Inc 1.87
Descartes Systems Group Inc 1.78
ON Semiconductor Corp 1.74
Sensient Technologies Corp 1.71
Catalent Inc 1.67
Ziff Davis Inc 1.62
Total 19.15
View full holdings
Portfolio Characteristics (As of 04/30/2023)
  FUND INDEX
Number of Holdings
Equity Issues		 131 1090
Market Capitalization
Weighted Average		 $5.97B $3.16B
Portfolio Turnover Rate
(1-year trailing)		 17.08% -
Price/Earnings Ratio
(1-year forward)		 16.85 15.29
Price/Book Ratio
 3.21 3.41
Earnings Growth Rate
(1-year forward)		 16.73% 17.80%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 04/30/2023)
Regional Allocation % OF FUND % of Index % OF FUND % of Index (As of 04/30/2023)
Market Capitalization Range of Equity Holdings % OF FUND % of Index % OF FUND % of Index (As of 04/30/2023)
Developed vs Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 04/30/2023)

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
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