Please ensure Javascript is enabled for purposes of website accessibility High-Yield Fund - Janus Henderson Investors
For Institutional Investors in the US

JHYFX High-Yield Fund

A high-conviction active high-yield portfolio that focuses on taking the appropriate amount of risk throughout the credit cycle

NAV
$7.22
As of 06/14/2024

1-Day Change
-$0.02 (-0.26%)
As of 06/14/2024

YTD Return
2.81%
As of 06/14/2024

Overview

ABOUT THIS FUND

A high-conviction, active high-yield strategy that seeks to generate competitive risk-adjusted returns while mitigating drawdowns. The strategy takes a research-first mentality on both macro and security selection risks.

WHY INVEST IN THIS FUND

High Conviction
We believe a high conviction approach is essential to unlocking competitive excess returns and monitoring high-yield risk for our clients. We are focused on taking the appropriate amount of risk throughout the credit cycle by actively managing market exposure and portfolio composition.

Research Driven
Our analysts cover issuers across the credit quality spectrum and capital structure, enabling a complete picture of fundamental credit risk. Analysts function as sector experts and risk managers alongside portfolio managers to identify potential outperformers.

Global Resources
This U.S. strategy benefits from our team of global credit experts. Instead of separate teams, we operate as one team globally looking at companies.

PORTFOLIO MANAGEMENT

Tom Ross, CFA

Global Head of High Yield | Portfolio Manager

Industry since 2002. Joined Firm in 2002.

Brent Olson

Portfolio Manager

Industry since 1997. Joined Firm in 2017.

Performance

RETURNS (%) (As of 03/31/2024)
High-Yield Fund - I Shares Bloomberg U.S. Corporate High Yield Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/29/1995)
High-Yield Fund - I Shares 1.77 1.77 9.60 0.34 3.08 3.43 6.54
Bloomberg U.S. Corporate High Yield Bond Index 1.47 1.47 11.15 2.19 4.21 4.44 6.55
RETURNS (%) (As of 05/31/2024)
High-Yield Fund - I Shares Bloomberg U.S. Corporate High Yield Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/29/1995)
High-Yield Fund - I Shares 2.15 2.26 10.40 0.04 3.10 3.34 6.51
Bloomberg U.S. Corporate High Yield Bond Index 1.33 1.63 11.24 1.78 4.19 4.30 6.51
Calendar Year Returns (%)
High-Yield Fund - I Shares Bloomberg U.S. Corporate High Yield Bond Index
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
High-Yield Fund - I Shares 11.77 -14.88 5.72 5.64 15.50 -2.92 6.16 13.15 -1.24 0.74
Bloomberg U.S. Corporate High Yield Bond Index 13.44 -11.19 5.28 7.11 14.32 -2.08 7.50 17.13 -4.47 2.45

MORNINGSTAR PERCENTILE

(As Of 03/31/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 70 96 79 60 11
High Yield Bond | Rank/Count 439/668 584/620 451/595 318/526 18/184
(As Of 05/31/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 59 95 78 60 11
High Yield Bond | Rank / Count 358/661 574/613 440/589 313/522 16/182

RETURNS-BASED STATISTICS (As of 04/30/2024 Class I Shares)

RISK / REWARD
VS. Bloomberg U.S. Corporate High Yield Bond TR Index
3YR 5YR
Information Ratio -1.42 -0.77
Alpha -1.75 -1.25
Tracking Error 1.33 1.48
Beta 1.09 1.10
R-squared (%) 98.59 98.89
UP/DOWN MARKET CAPTURE (%)
VS. Bloomberg U.S. Corporate High Yield Bond TR Index
3YR 5YR
Up Capture Ratio 98.90 103.10
Down Capture Ratio 116.37 114.38
STANDARD DEVIATION 3YR 5YR
High-Yield Fund 9.19 10.31
Bloomberg U.S. Corporate High Yield Bond TR Index 8.38 9.34
SHARPE RATIO 3YR 5YR
High-Yield Fund -0.34 0.05
Bloomberg U.S. Corporate High Yield Bond TR Index -0.15 0.18
ANNUAL FEES & EXPENSES (As of the most recent prospectus)
CLASS I SHARES
Management Fees 0.59%
Other Expenses 0.17%
Total Gross Expenses 0.76%
Waivers -0.02%
Total Net Expenses 0.74%

Portfolio

Index represents the Bloomberg Barclays U.S. Corporate High Yield Bond Index.

Top Holdings (As of 05/31/2024)
% of Fund
US 2YR NOTE (CBT) Sep24 SEP 24 9.70
FTAI Infra Escrow Holdings LLC, 10.50%, 06/01/27 2.01
Medline Borrower LP, 5.25%, 10/01/29 1.79
Seagate HDD Cayman, 9.62%, 12/01/32 1.60
Cargo Aircraft Management Inc, 4.75%, 02/01/28 1.59
Carnival Corp, 6.00%, 05/01/29 1.51
Standard Industries Inc/NJ, 3.38%, 01/15/31 1.43
PennyMac Financial Services Inc, 5.75%, 09/15/31 1.38
TransDigm Inc, 4.88%, 05/01/29 1.23
Victra Holdings LLC / Victra Finance Corp, 7.75%, 02/15/26 1.16
TOTAL 23.40
View full holdings
Portfolio Characteristics (As of 05/31/2024)
  FUND INDEX
Number of Holdings
Debt Issues
141 1922
Portfolio Turnover Rate
(1-year trailing)
81.23% -
Weighted Average Maturity
(years)
5.18 4.78
Effective Duration
(years)
3.21 3.15
Yield to Worst
7.65% 7.97%
Sector Allocation % of Fund % of Index % of Fund % of Index As of 05/31/2024
Regional Allocation % of Fund % of Index % of Fund % of Index As of May 31, 2024
Developed vs Emerging Markets % of Fund % of Index % of Fund % of Index As of May 31, 2024
Credit Quality of Fixed Income Holdings % of Fund % of Index % of Fund % of Index As of May 31, 2024
Maturity Breakdown of Fixed Income Holdings % of Fund % of Index % of Fund % of Index As of 05/31/2024

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