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

JAFLX VIT Flexible Bond Portfolio

For 25 years, this active fixed income strategy has been anchoring investor portfolios given its focus on risk-adjusted returns and capital preservation

NAV
$9.72
As of 04/18/2024

1-Day Change
-$0.04 (-0.41%)
 As of 04/18/2024

YTD Return
-3.28%
As of 04/18/2024

Overview

ABOUT THIS PORTFOLIO

This dynamic core bond portfolio leverages a bottom-up, fundamentally driven investment process designed to generate risk-adjusted outperformance and capital preservation. Throughout its 25 year history, the Portfolio has utilized an active and flexible approach to manage across a variety of market and rate cycles.

WHY INVEST IN THIS PORTFOLIO

Dynamic Core Bond Holding
By emphasizing risk-adjusted returns and capital preservation, the portfolio can serve as a foundation for a fixed income portfolio. The strategy uses a bottom-up, fundamentally driven investment process that seeks to identify the best opportunities across fixed income sectors, including up to 35% high yield.

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)
VIT Flexible Bond Portfolio Institutional Class Bloomberg U.S. Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/13/1993)
VIT Flexible Bond Portfolio Institutional Class -0.50 -0.50 2.00 -2.43 1.07 1.66 5.26
Bloomberg U.S. Aggregate Bond Index -0.78 -0.78 1.70 -2.45 0.36 1.54 4.29
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.

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

RETURNS (%) (As of 03/31/2024)
VIT Flexible Bond Portfolio Institutional Class Bloomberg U.S. Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/13/1993)
VIT Flexible Bond Portfolio Institutional Class -0.50 -0.50 2.00 -2.43 1.07 1.66 5.26
Bloomberg U.S. Aggregate Bond Index -0.78 -0.78 1.70 -2.45 0.36 1.54 4.29
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.

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

Calendar Year Returns (%)
VIT Flexible Bond Portfolio Institutional Class Bloomberg U.S. Aggregate Bond Index
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
VIT Flexible Bond Portfolio Institutional Class 5.50 -13.66 -0.90 10.48 9.57 -1.00 3.62 2.46 0.22 4.94
Bloomberg U.S. Aggregate Bond Index 5.53 -13.01 -1.54 7.51 8.72 0.01 3.54 2.65 0.55 5.97

MORNINGSTAR PERCENTILE

(As Of 03/31/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 74 55 33 54 6
Intermediate Core-Plus Bond | Rank/Count 431/631 271/572 159/555 236/467 7/166
(As Of 03/31/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 74 55 33 54 6
Intermediate Core-Plus Bond | Rank / Count 431/631 271/572 159/555 236/467 7/166

GROWTH OF A HYPOTHETICAL INVESTMENT

Flexible Bond Portfolio - Institutional Shares Bloomberg U.S. Aggregate Bond Index Intermediate Core-Plus 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 Inst Shares)

RISK / REWARD
VS. Bloomberg U.S. Aggregate Bond TR Index		 3YR 5YR
Information Ratio 0.03 0.39
Alpha 0.06 0.79
Tracking Error 0.79 1.81
Beta 1.01 1.04
R-squared (%) 98.85 92.55
UP/DOWN MARKET CAPTURE (%)
VS. Bloomberg U.S. Aggregate Bond TR Index		 3YR 5YR
Up Capture Ratio 100.28 114.61
Down Capture Ratio 99.96 104.46
STANDARD DEVIATION 3YR 5YR
Flexible Bond Portfolio 7.32 6.61
Bloomberg U.S. Aggregate Bond TR Index 7.24 6.14
SHARPE RATIO 3YR 5YR
Flexible Bond Portfolio -0.69 -0.14
Bloomberg U.S. Aggregate Bond TR Index -0.70 -0.26
ANNUAL FEES & EXPENSES (As of the most recent prospectus)
INSTITUTIONAL SHARES
Management Fees 0.50%
Other Expenses 0.10%
Total Gross Expenses 0.60%
Waivers -0.03%
Total Net Expenses 0.57%

Net expense ratios reflect the expense waiver, if any, contractually agreed to for at least a one-year period commencing on April 28, 2023. This contractual waiver may be terminated or modified only at the discretion of the Portfolio's Board of Trustees.

Portfolio

Index represents the Bloomberg Barclays U.S. Aggregate Bond Index.

Top Holdings (As of 03/31/2024)
% of Portfolio
United States Treasury Note/Bond, 4.75%, 11/15/53 1.98
United States Treasury Note/Bond, 4.50%, 02/15/44 1.46
Ginnie Mae, 2.50%, 04/18/24 1.36
United States Treasury Note/Bond, 4.25%, 02/28/29 1.36
Fannie Mae or Freddie Mac, 5.00%, 04/11/24 1.32
United States Treasury Note/Bond, 4.00%, 02/15/34 1.08
United States Treasury Note/Bond, 4.75%, 11/15/43 1.03
Fannie Mae Pool, 5.50%, 07/01/53 0.99
Fannie Mae or Freddie Mac, 2.50%, 04/11/24 0.96
Ginnie Mae, 3.50%, 04/18/24 0.90
TOTAL 12.44
View full holdings
Portfolio Characteristics (As of 03/31/2024)
  PORTFOLIO INDEX
Number of Holdings
Debt Issues		 695 13524
Portfolio Turnover Rate
(1-year trailing)		 174.16% -
Weighted Average Maturity
(years)		 7.44 12.74
Effective Duration
(years)		 6.54 6.13
Yield to Worst
 5.29% 4.85%

Yield to Worst is a portfolio level calculation that excludes cash and cash related costs.
Sector Allocation % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 03/31/2024)
Fixed Income country and/or regional weights primarily based on Bloomberg classifications.
Regional Allocation % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 03/31/2024)
Developed vs Emerging Markets % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 03/31/2024)
Maturity Breakdown of Fixed Income Holdings % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 03/31/2024)
Credit Quality of Fixed Income Holdings % OF PORTFOLIO % of Index % OF PORTFOLIO % 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).

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Related Insights
Quick View: March U.S. CPI – Three times makes a trend
Apr 10, 2024
Timely & Topical

Quick View: March U.S. CPI – Three times makes a trend

While stickier-than-expected inflation undoubtedly alters the timing of rate cuts, it likely does not affect the Fed’s goal of eventually easing restrictive policy.

4 min read

The destructive power of portfolio volatility (and what investors can do about it)
Feb 26, 2024
Timely & Topical

The destructive power of portfolio volatility (and what investors can do about it)

Why portfolio volatility is a risk for investors and how to help mitigate this risk.

6 min read

Does your balanced fund have these three essentials?
Feb 5, 2024
Timely & Topical

Does your balanced fund have these three essentials?

The three essential elements of an effective balanced strategy in the current environment.

6 min read