For Institutional Investors in the US

JSHIX Short Duration Flexible Bond Fund

Core fund that benefits from a bottom-up, fundamentally driven investment process designed to generate risk adjusted returns and preserve capital

NAV
$3.05
As of 12/03/2021

1-Day Change
$0.00 (0.00%)
As of 12/03/2021

YTD Return
0.14%
As of 12/03/2021

Overview

ABOUT THIS FUND

This dynamic, short-duration bond fund seeks risk-adjusted returns and capital preservation. Our approach leverages a bottom-up, fundamentally driven investment process.

WHY INVEST IN THIS FUND

Dynamic Core Short-Duration Bond Holding
The Fund emphasizes risk-adjusted returns and capital preservation while seeking to identify the best opportunities across fixed income sectors using a bottom-up, fundamentally driven investment process.

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.

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

Greg Wilensky, CFA

Head of U.S. Fixed Income | Portfolio Manager

Industry since 1993. Joined Firm in 2020.

Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Seth Meyer, CFA

Portfolio Manager

Industry since 1998. Joined Firm in 2004.

Performance

RETURNS (%) (As of 09/30/2021)
Short Duration Flexible Bond Fund - Class I Shares Bloomberg 1-3 Year U.S. Government/Credit Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Short Duration Flexible Bond Fund - Class I Shares 0.02 0.56 1.71 3.17 2.23 2.03 3.64
Bloomberg 1-3 Year U.S. Government/Credit Index 0.09 0.09 0.30 2.87 1.89 1.47 3.67
RETURNS (%) (As of 11/30/2021)
Short Duration Flexible Bond Fund - Class I Shares Bloomberg 1-3 Year U.S. Government/Credit Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/01/1992)
Short Duration Flexible Bond Fund - Class I Shares -0.66 0.12 0.65 2.99 2.23 1.94 3.60
Bloomberg 1-3 Year U.S. Government/Credit Index -0.49 -0.32 -0.23 2.59 1.90 1.41 3.64
CALENDAR YEAR RETURNS (%)
Short Duration Flexible Bond Fund - Class I Shares Bloomberg 1-3 Year U.S. Government/Credit Index
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Short Duration Flexible Bond Fund - Class I Shares 1.62 3.68 1.57 0.73 0.38 1.66 1.33 0.95 4.21 4.50
Bloomberg 1-3 Year U.S. Government/Credit Index 1.59 1.26 0.64 0.77 0.65 1.28 0.84 1.60 4.03 3.33

MORNINGSTAR PERCENTILE

(As Of 09/30/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 30 57 56 52 47
Short-Term Bond Category|Rank/Count 198/618 311/581 278/548 207/429 63/158
(As Of 10/31/2021)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 31 53 51 56 45
Short-Term Bond Category|Rank/Count 195/616 295/578 252/545 217/426 61/157

RETURNS-BASED STATISTICS (As of 10/31/2021 Class I Shares)

RISK / REWARD
VS. Bloomberg 1-3 Year U.S. Government/Credit Index
3YR 5YR
Information Ratio 0.17 0.21
Alpha 0.99 0.78
Tracking Error 2.43 1.92
Beta 0.80 0.80
R-squared (%) 10.05 13.37
UP/DOWN MARKET CAPTURE (%)
VS. Bloomberg 1-3 Year U.S. Government/Credit Index
3YR 5YR
Up Capture Ratio 114.07 111.66
Down Capture Ratio 101.37 66.57
STANDARD DEVIATION 3YR 5YR
Short Duration Flexible Bond Fund 2.55 2.05
Bloomberg 1-3 Year U.S. Government/Credit Index 1.02 0.94
SHARPE RATIO 3YR 5YR
Short Duration Flexible Bond Fund 0.80 0.54
Bloomberg 1-3 Year U.S. Government/Credit Index 1.61 0.75
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/21)
CLASS I SHARES
Management Fees 0.44%
Other Expenses 0.16%
Total Gross Expenses 0.60%
Waivers -0.15%
Total Net Expenses 0.45%

Portfolio

Index represents the Bloomberg Barclays 1-3 Year U.S. Government/Credit Index.

Top Holdings (As of 10/31/2021)
% of Fund
United States Treasury Note/Bond, 0.12%, 06/30/23 3.61
Fannie Mae or Freddie Mac, 2.50%, 11/10/21 2.65
US TSY INFL BOND 0.63 04/15/2023, 0.62%, 04/15/23 2.26
United States Treasury Note/Bond, 0.12%, 03/31/23 1.96
United States Treasury Note/Bond, 0.12%, 12/31/22 1.80
United States Treasury Note/Bond, 0.12%, 02/28/23 1.78
United States Treasury Note/Bond, 0.12%, 05/31/23 1.43
United States Treasury Note/Bond, 1.75%, 07/15/22 1.24
Fannie Mae or Freddie Mac, 3.00%, 11/10/21 1.24
United States Treasury Note/Bond, 0.12%, 04/30/23 1.02
Total 18.99
View Full Holdings
Portfolio Characteristics (As of 10/31/2021)
  FUND INDEX
Number of Holdings
Debt Issues
280 1559
Portfolio Turnover Rate
(1-year trailing)
88.10% -
Weighted Average Maturity
(years)
3.00 1.91
Effective Duration
(years)
2.50 1.83
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 10/31/2021)
Futures 28.86 -
Credit-Investment Grade 17.46 22.37
Treasuries 14.31 68.08
Credit-High Yield 10.69 -
ABS 10.29 -
CMBS 5.63 -
CMO 4.52 -
MBS 3.88 -
Bank Loans 3.05 -
Inflation Linked 2.25 -
Government Related 0.10 8.93
Short Futures -1.66 -
Cash & Equivalents 0.62 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of October 31, 2021)
North America 93.50 90.72
Europe 5.27 4.44
Asia/Pacific Ex Japan 0.39 0.72
Japan 0.12 1.05
Africa/Mideast 0.10 0.02
Cash & Equivalents 0.62 -
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of October 31, 2021)
U.S. 92.64 88.71
Non-U.S. Developed 6.25 7.54
Non-U.S. Emerging 0.49 0.80
Cash & Equivalents 0.62 -
MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of October 31, 2021)
< 1 yr 9.10 3.24
1 - 3 yrs 63.93 96.76
3 - 5 yrs 18.67 -
5 - 7 yrs 6.02 -
7 - 10 yrs 0.20 -
10 - 20 yrs -0.45 -
> 20 yrs 0.45 -
N/A 1.46 -
Credit Quality of Fixed Income Holdings % OF FUND % of Index % OF FUND % of Index (As of October 31, 2021)
Aaa 26.77 74.66
Aa 2.35 3.77
A 4.97 11.88
Baa 16.90 9.69
Ba 11.87 -
B 2.93 -
NOT RATED 33.59 -

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