For Financial Professionals in the US

VIT Mid Cap Value Portfolio

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

NAV
$17.92
As of 10/21/2021

1-Day Change
-$0.04 (-0.22%)
As of 10/21/2021

YTD Return
16.25%
As of 10/21/2021

Overview

ABOUT THIS PORTFOLIO

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 PORTFOLIO

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 60 to 90 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, Team Leader

Industry since 1997. Joined Firm in 2002.

Justin Tugman, CFA

Portfolio Manager

Industry since 2000. Joined Firm in 2004.

Performance

RETURNS (%) (As of 09/30/2021)
Mid Cap Value Portfolio - Class SS Shares Russell Midcap® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/31/2002)
Mid Cap Value Portfolio - Class SS Shares -1.61 11.19 31.37 6.68 8.24 10.33 9.67
Russell Midcap® Value Index -1.01 18.24 42.40 10.28 10.59 13.93 11.37
RETURNS (%) (As of 09/30/2021)
Mid Cap Value Portfolio - Class SS Shares Russell Midcap® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/31/2002)
Mid Cap Value Portfolio - Class SS Shares -1.61 11.19 31.37 6.68 8.24 10.33 9.67
Russell Midcap® Value Index -1.01 18.24 42.40 10.28 10.59 13.93 11.37
CALENDAR YEAR RETURNS (%)
Mid Cap Value Portfolio - Class SERVICE Shares Russell Midcap® Value Index
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Mid Cap Value Portfolio - Class SERVICE Shares -2.98 10.79 25.81 8.44 -3.69 18.76 13.63 -13.82 30.05 -1.21
Russell Midcap® Value Index -1.38 18.51 33.46 14.75 -4.78 20.00 13.34 -12.29 27.06 4.96

MORNINGSTAR PERCENTILE

(As Of 09/30/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 95 85 89 97 67
Mid-Cap Value Category|Rank/Count 391/411 333/403 324/384 317/326 154/234
(As Of 09/30/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 95 85 89 97 67
Mid-Cap Value Category|Rank/Count 391/411 333/403 324/384 317/326 154/234

RETURNS-BASED STATISTICS (As of 09/30/2021 Svc Shares)

RISK / REWARD
VS. Russell Midcap® Value Index
3YR 5YR
Information Ratio -0.79 -0.61
Alpha -2.38 -1.11
Tracking Error 4.55 3.86
Beta 0.88 0.88
R-squared (%) 97.04 96.41
UP/DOWN MARKET CAPTURE (%)
VS. Russell Midcap® Value Index
3YR 5YR
Up Capture Ratio 83.69 85.34
Down Capture Ratio 94.36 92.42
STANDARD DEVIATION 3YR 5YR
Mid Cap Value Portfolio 20.98 16.78
Russell Midcap® Value Index 23.44 18.67
SHARPE RATIO 3YR 5YR
Mid Cap Value Portfolio 0.26 0.42
Russell Midcap® Value Index 0.39 0.51
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 12/31/20)
SERVICE SHARES
Management Fees 0.62%
12b-1 Fees 0.25%
Other Expenses 0.19%
Total Gross Expenses 1.06%
Waivers -0.01%
Total Net Expenses 1.05%

Portfolio

Index represents the Russell Midcap® Value Index.

Top Holdings (As of 09/30/2021)
% of Portfolio
Equity LifeStyle Properties Inc 2.71
Hartford Financial Services Group Inc 2.55
Laboratory Corp of America Holdings 2.34
Analog Devices Inc 2.28
Fifth Third Bancorp 2.22
Casey's General Stores Inc 1.93
Alliant Energy Corp 1.93
BWX Technologies Inc 1.89
Henry Schein Inc 1.88
RenaissanceRe Holdings Ltd 1.85
Total 21.58
View Full Holdings
Portfolio Characteristics (As of 09/30/2021)
  PORTFOLIO INDEX
Number of Holdings
Equity Issues
73 701
Market Capitalization
Weighted Average
$18.04B $20.68B
Portfolio Turnover Rate
(1-year trailing)
52.74% -
Price/Earnings Ratio
(1-year forward)
18.17 22.61
Price/Book Ratio
(1-year forward)
3.61 3.27
Earnings Growth Rate
(1-year forward)
21.51% 26.68%
Sector Allocation % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 09/30/2021)
Industrials 16.29 15.56
Financials 14.70 16.83
Information Technology 11.95 9.84
Health Care 10.80 8.38
Real Estate 9.12 11.06
Materials 8.95 7.25
Consumer Discretionary 8.64 10.73
Energy 4.53 5.16
Utilities 4.01 6.98
Communication Services 3.99 4.02
Consumer Staples 3.85 4.19
Cash & Equivalents 3.17 -
Regional Allocations % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 09/30/2021)
North America 96.83 99.24
Cash & Equivalents 3.17 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF PORTFOLIO % OF INDEX % OF PORTFOLIO % OF INDEX (As of 09/30/2021)
$50B to $100B 2.28 0.26
$10B to $50B 53.96 77.34
$5B to $10B 28.95 18.57
$1B to $5B 11.64 3.83
Developed VS Emerging Markets % OF PORTFOLIO % of Index % OF PORTFOLIO % of Index (As of 09/30/2021)
U.S. 96.83 99.24
Cash & Equivalents 3.17 -

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