For Individual Investors in the US

JRSDX Adaptive Risk Managed U.S. Equity Fund

A large-cap core equity portfolio of stocks that have the potential for less downside volatility and greater growth or upside volatility, as implied by forward-looking options market prices.

NAV
$8.78
As of 03/24/2023

1-Day Change
$0.08 (0.92%)
 As of 03/24/2023

YTD Return
0.23%
As of 03/24/2023

Buy/Trade

Overview

ABOUT THIS FUND

U.S. large-cap equity portfolio that seeks to deliver more attractive returns with lower absolute volatility than the Index over a market cycle. Our systematic investment process utilizes forward-looking signals from options markets designed to identify individual stocks with less downside volatility that appear poised for greater growth or upside volatility.

WHY INVEST IN THIS FUND

  • Attractive: This diversified, U.S. large-cap portfolio targets more attractive returns with lower absolute volatility over a market cycle.
  • Objective: Our systematic investment process uses forward-looking signals from highly liquid options markets designed to identify individual stocks with less downside volatility that appear poised for greater growth or upside volatility.
  • Adaptive: Changes in the market-implied forecasts of good risk versus bad risk will trigger rebalancing while maintaining diversification in an effort to provide more consistent returns over time.

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.

View Our Insights

PORTFOLIO MANAGEMENT

Ashwin Alankar, PhD

Ashwin Alankar, PhD

Head of Global Asset Allocation | Portfolio Manager

Industry since 2001. Joined Firm in 2014.

Performance

RETURNS (%) (As of 12/31/2022)
Adaptive Risk Managed U.S. Equity Fund - Class D Shares Russell 1000® Index S&P 500 Minimum Volatility Index TR (USD)
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/30/2005)
Adaptive Risk Managed U.S. Equity Fund - Class D Shares 10.73 -14.10 -14.10 5.07 6.69 10.62 7.46
Russell 1000® Index 7.24 -19.13 -19.13 7.35 9.13 12.37 8.97
S&P 500 Minimum Volatility Index TR (USD) 9.11 -10.66 -10.66 6.50 8.74 12.19 9.21
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.
Performance for Class D Shares that includes periods prior to 12/22/14 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund's prospectus for further details.

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

RETURNS (%) (As of 02/28/2023)
Adaptive Risk Managed U.S. Equity Fund - Class D Shares Russell 1000® Index S&P 500 Minimum Volatility Index TR (USD)
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/30/2005)
Adaptive Risk Managed U.S. Equity Fund - Class D Shares -1.59 3.20 -4.03 8.29 7.20 10.05 7.59
Russell 1000® Index -1.89 4.17 -8.21 11.92 9.68 12.09 9.15
S&P 500 Minimum Volatility Index TR (USD) -5.13 -1.67 -4.79 8.84 8.45 11.23 9.01
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.
Performance for Class D Shares that includes periods prior to 12/22/14 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund's prospectus for further details.

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

Calendar Year Returns (%)
Adaptive Risk Managed U.S. Equity Fund - Class D Shares Russell 1000® Index
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Adaptive Risk Managed U.S. Equity Fund - Class D Shares -14.10 19.71 12.80 23.60 -3.60 20.35 7.95 3.24 9.12 35.70
Russell 1000® Index -19.13 26.45 20.96 31.43 -4.78 21.69 12.05 0.92 13.24 33.11
GROWTH OF A HYPOTHETICAL INVESTMENT
Source: Morningstar, Inc.
This graph compares the performance of a hypothetical $10,000 investment in the fund, the fund’s Morningstar category average and its benchmark(s).

RETURNS-BASED STATISTICS (As of 02/28/2023 Class I Shares)

RISK / REWARD
VS. Russell 1000® Index		 3YR 5YR
Information Ratio -0.57 -0.38
Alpha -2.30 -1.12
Tracking Error 6.38 6.51
Beta 0.92 0.87
R-squared (%) 91.03 88.34
UP/DOWN MARKET CAPTURE (%)
VS. Russell 1000® Index		 3YR 5YR
Up Capture Ratio 87.25 81.05
Down Capture Ratio 97.61 87.94
STANDARD DEVIATION 3YR 5YR
Adaptive Risk Managed U.S. Equity Fund 20.46 17.71
Russell 1000® Index 21.31 19.06
SHARPE RATIO 3YR 5YR
Adaptive Risk Managed U.S. Equity Fund 0.36 0.33
Russell 1000® Index 0.52 0.44
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 06/30/2022)
CLASS D SHARES
Management Fees 0.50%
Other Expenses 0.18%
Total Gross Expenses 0.68%
Waivers -0.05%
Total Net Expenses 0.63%
Net expense ratios reflect the advisory fee waiver contractually agreed to through at least June 9, 2024.

Portfolio

Index represents the Russell 1000® Index.

Top Holdings (As of 02/28/2023)
% of Fund
Microsoft Corp 2.92
Amazon.com Inc 2.36
PepsiCo Inc 2.16
UnitedHealth Group Inc 1.85
Apple Inc 1.77
Sysco Corp 1.49
Fifth Third Bancorp 1.44
Weyerhaeuser Co 1.18
Alphabet Inc 1.17
Progressive Corp 1.14
Total 17.48
View full holdings
Portfolio Characteristics (As of 02/28/2023)
  FUND INDEX
Number of Holdings
Equity Issues		 225 1010
Market Capitalization
Weighted Average		 $197.10B $401.80B
Portfolio Turnover Rate
(1-year trailing)		 304.75% -
Price/Earnings Ratio
(1-year forward)		 16.07 17.54
Price/Book Ratio
 2.77 3.59
Earnings Growth Rate
(1-year forward)		 18.07% 17.63%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 02/28/2023)
Regional Allocation % OF FUND % of Index % OF FUND % of Index (As of February 28, 2023)
Market Capitalization Range of Equity Holdings % OF FUND % of Index % OF FUND % of Index (As of 02/28/2023)
Developed vs Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of February 28, 2023)

Documents

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Our intellectual capital is readily available and central to our Knowledge Shared approach"
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