For Institutional Investors in the US

JVSIX Small-Mid Cap Value Fund

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

NAV
$11.61
As of 09/29/2022

1-Day Change
-$0.23 (-1.94%)
As of 09/29/2022

YTD Return
-18.18%
As of 09/29/2022

Overview

ABOUT THIS FUND

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 FUND

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 30 to 50 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

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, Team Leader

Industry since 2000. Joined Firm in 2004.

Performance

RETURNS (%) (As of 06/30/2022)
Small-Mid Cap Value Fund - Class I Shares Russell 2500™ Value Index Russell 3000® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/15/2011)
Small-Mid Cap Value Fund - Class I Shares -12.28 -15.93 -13.56 0.92 3.79 7.92 8.31
Russell 2500™ Value Index -15.39 -16.66 -13.19 6.19 5.54 9.54 10.27
Russell 3000® Value Index -12.41 -13.15 -7.46 6.82 7.01 10.39 11.12
RETURNS (%) (As of 08/31/2022)
Small-Mid Cap Value Fund - Class I Shares Russell 2500™ Value Index Russell 3000® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/15/2011)
Small-Mid Cap Value Fund - Class I Shares -4.54 -10.99 -7.05 3.32 5.07 8.20 8.75
Russell 2500™ Value Index -5.39 -11.46 -8.34 9.93 7.03 9.88 10.72
Russell 3000® Value Index -5.51 -10.00 -6.49 8.95 7.77 10.44 11.31
Calendar Year Returns (%)
Small-Mid Cap Value Fund - Class I Shares Russell 2500™ Value Index
2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Small-Mid Cap Value Fund - Class I Shares 16.31 -3.09 26.89 -7.12 14.05 19.52 0.17 7.42 23.08 12.48
Russell 2500™ Value Index 27.78 4.88 23.56 -12.36 10.36 25.20 -5.49 7.11 33.32 19.21

MORNINGSTAR PERCENTILE

(As Of 06/30/2022)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 92 99 91 95 96
Mid-Cap Value Category|Rank/Count 385/409 396/402 338/386 318/337 318/334
(As Of 08/31/2022)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 69 98 91 94 94
Mid-Cap Value Category|Rank/Count 298/412 398/405 336/388 316/337 313/334

RETURNS-BASED STATISTICS (As of 08/31/2022 Class I Shares)

RISK / REWARD
VS. Russell 2500™ Value Index
3YR 5YR
Information Ratio -1.02 -0.31
Alpha -4.92 -0.86
Tracking Error 6.51 6.33
Beta 0.83 0.81
R-squared (%) 94.61 93.48
UP/DOWN MARKET CAPTURE (%)
VS. Russell 2500™ Value Index
3YR 5YR
Up Capture Ratio 74.02 77.79
Down Capture Ratio 93.08 84.16
STANDARD DEVIATION 3YR 5YR
Small-Mid Cap Value Fund 21.55 18.55
Russell 2500™ Value Index 25.14 22.14
SHARPE RATIO 3YR 5YR
Small-Mid Cap Value Fund 0.13 0.21
Russell 2500™ Value Index 0.37 0.27
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/2021)
CLASS I SHARES
Management Fees 0.64%
Other Expenses 0.46%
Total Gross Expenses 1.10%
Waivers -0.20%
Total Net Expenses 0.90%

Portfolio

Index represents the Russell 2500™ Value Index.

Top Holdings (As of 08/31/2022)
% of Fund
First Interstate BancSystem Inc 3.03
Globus Medical Inc 2.77
Casey's General Stores Inc 2.60
Magnolia Oil & Gas Corp 2.55
Equity LifeStyle Properties Inc 2.55
Ameris Bancorp 2.49
ChampionX Corp 2.43
ONE Gas Inc 2.41
Carlisle Cos Inc 2.41
Hartford Financial Services Group Inc 2.38
Total 25.62
View full holdings
Portfolio Characteristics (As of 08/31/2022)
  FUND INDEX
Number of Holdings
Equity Issues
50 1829
Market Capitalization
Weighted Average
$8.19B $6.13B
Portfolio Turnover Rate
(1-year trailing)
86.48% -
Price/Earnings Ratio
(1-year forward)
16.14 15.31
Price/Book Ratio
3.05 2.10
Earnings Growth Rate
(1-year forward)
12.84% 5.95%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 08/31/2022)
Regional Allocation % OF FUND % of Index % OF FUND % of Index (As of August 31, 2022)
Market Capitalization Range of Equity Holdings % OF FUND % of Index % OF FUND % of Index (As of 08/31/2022)
Developed vs Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of August 31, 2022)

Documents