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JFLEX Janus Henderson Flexible Bond I

  • Fund
  • JFLEX
  • Price as of: Dec 11, 2017
  • $10.35
  • - $0.01
  • - 0.10%
  • Category
  • Total Bond Market

JFLEX - Profile

Vitals

  • YTD Return 0.6%
  • 3 Yr Annualized Return 1.9%
  • 5 Yr Annualized Return 2.2%
  • Net Assets $8.62 B
  • Holdings in Top 10 12.9%

52 WEEK LOW AND HIGH

$10.35
$10.20
$10.50

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.55%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 96.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000,000

IRA

N/A

Investment Themes

CATEGORY

Total Bond Market
  • Fund Type Open End Mutual Fund
  • Investment Style Intermediate-Term Bond

Distributions

  • YTD Total Return 0.6%
  • 3 Yr Annualized Total Return 1.9%
  • 5 Yr Annualized Total Return 2.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.50%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Janus Henderson Flexible Bond Fund
  • Fund Family Name Janus Henderson
  • Inception Date Jul 06, 2009
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Darrell W. Watters

Fund Description

The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in bonds. Bonds include, but are not limited to, government notes and bonds, corporate bonds, convertible bonds, commercial and residential mortgage-backed securities, and zero-coupon bonds. It will invest at least 65% of its assets in investment grade debt securities. The fund will limit its investment in high-yield/high-risk bonds, also known as "junk" bonds, to 35% or less of its net assets.

JFLEX - Performance

Return Ranking - Trailing

Period JFLEX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 0.6% -19.6% 24.5% 44.72% 4
1 Yr 3.4% -15.5% 26.5% 43.49% 3
3 Yr 1.9% * -6.1% 10.2% 44.72% 3
5 Yr 2.2% * -2.5% 14.8% 34.79% 2
10 Yr 5.1% * -1.4% 9.2% 11.95% 1

* Annualized


Return Ranking - Calendar

Period JFLEX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -0.1% -10.9% 192.8% 45.11% 4
2015 -2.5% -33.0% 4.2% 29.60% 3
2014 1.8% -9.3% 14.9% 23.26% 2
2013 -4.2% -24.1% 40.4% 43.36% 4
2012 2.7% -100.0% 18.7% 34.46% 3

Total Return Ranking - Trailing

Period JFLEX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 0.6% -19.6% 24.5% 44.64% 4
1 Yr 3.4% -15.5% 26.5% 35.38% 2
3 Yr 1.9% * -7.0% 10.2% 39.22% 3
5 Yr 2.2% * -3.4% 14.8% 30.73% 2
10 Yr 5.1% * -1.4% 9.2% 11.47% 1

* Annualized


Total Return Ranking - Calendar

Period JFLEX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -0.1% -9.5% 195.3% 55.27% 4
2015 -2.5% -32.5% 7.4% 50.96% 4
2014 1.8% -8.3% 16.8% 41.20% 3
2013 -3.1% -12.9% 58.5% 50.48% 4
2012 4.8% -100.0% 35.2% 35.32% 3

NAV & Total Return History

JFLEX - Holdings

Filings data as of: Sep 30, 2017

Concentration Analysis

JFLEX Category Low Category High JFLEX % Rank Quintile
Net Assets 8.62 B 319 K 192 B 2.80% 1
Number of Holdings 614 1 17413 10.17% 2
Net Assets in Top 10 1.14 B -36 B 31.8 B 3.87% 1
Weighting of Top 10 12.9% 0.0% 1191.5% 27.67% 5

Top 10 Holdings

  1. US Treasury Note 1.25% 1.91%
  2. US Treasury Note 1.375% 1.91%
  3. US Treasury Bond 2.875% 1.70%
  4. US Treasury Note 2% 1.40%
  5. US Treasury Bond 2.75% 1.17%
  6. US Treasury Bill 1.14%
  7. FNMA 4% 0.99%
  8. US Treasury Bill 0.99%
  9. US Treasury Note 2.25% 0.91%
  10. US Treasury Bond 3.625% 0.82%

Asset Allocation

Weighting Category Low Category High JFLEX % Rank Quintile
Bonds
94.04% -175.98% 562.01% 12.61% 3
Other
2.59% -21.56% 99.99% 6.05% 1
Cash
2.19% -461.99% 275.92% 21.06% 4
Preferred Stocks
1.00% 0.00% 20.69% 6.56% 2
Convertible Bonds
0.17% 0.00% 13.10% 5.65% 2
Stocks
0.00% -2.81% 98.31% 5.34% 4

Bond Sector Breakdown

Weighting Category Low Category High JFLEX % Rank Quintile
Corporate
46.89% 0.00% 221.70% 10.38% 2
Securitized
31.52% 0.00% 118.59% 12.87% 3
Government
15.01% -389.49% 503.27% 19.02% 3
Cash & Equivalents
2.19% -462.00% 275.92% 20.19% 4
Derivative
0.00% -64.42% 84.44% 3.05% 3
Municipal
0.00% 0.00% 99.16% 12.61% 5

Bond Geographic Breakdown

Weighting Category Low Category High JFLEX % Rank Quintile
US
88.88% -370.09% 500.82% 8.04% 2
Non US
5.16% -129.54% 351.70% 24.52% 5

JFLEX - Expenses

Operational Fees

JFLEX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.55% 0.00% 32.76% 11.60% 1
Management Fee 0.41% 0.00% 2.15% 2.80% 3
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.63% N/A N/A

Sales Fees

JFLEX Fees (% of AUM) Category Low Category High JFLEX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 0.15% 5.50% N/A N/A

Trading Fees

JFLEX Fees (% of AUM) Category Low Category High JFLEX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

JFLEX Fees (% of AUM) Category Low Category High JFLEX Rank Quintile
Turnover 96.00% 0.00% 1541.00% 10.69% 3

JFLEX - Distributions

Dividend Yield Analysis

JFLEX Category Low Category High JFLEX % Rank Quintile
Dividend Yield 0.3% 0.00% 1.00% 11.28% 1

Dividend Distribution Analysis

JFLEX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

JFLEX Category Low Category High JFLEX % Rank Quintile
Net Income Ratio 2.50% -1.56% 9.28% 11.15% 2

Capital Gain Distribution Analysis

JFLEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

JFLEX - Managers

Darrell W. Watters

Manager

Start Date

May 31, 2007

Tenure

10.51

Tenure Rank

2.9%

Darrell Watters is Head of U.S. Fundamental Fixed Income, a position he has held since 2015. He is also a Portfolio Manager on the fundamental fixed income team. Mr. Watters has been supporting Janus’ fixed income platform since 1996, serving in portfolio management and research analyst roles. Prior to joining Janus as a municipal bond trader in 1993, he was a municipal bond trader with Piper Jaffray. Mr. Watters received his bachelor of science degree in economics from Colorado State University.


Mayur Saigal

Manager

Start Date

Dec 31, 2015

Tenure

1.92

Tenure Rank

8.2%

Mayur Saigal is Head of Fundamental Fixed Income Risk, a position he has held since 2009. Mr. Saigal has pioneered Janus’ proprietary portfolio management and risk analytics platform Quantum that provides a multidimensional assessment of portfolios down to the instrument level. Mr. Saigal also co-manages the Janus Real Return, Janus U.S. Corporate Credit, Janus Core Plus, Janus Intermediate Fixed Income, Janus Long Duration and Janus Short Duration strategies. Additionally, Mr. Saigal co-manages the fixed income portion of the Janus Balanced strategy. From 2005 to 2009, Mr. Saigal served as a global analyst on the fixed income team. Prior to joining Janus, he worked as a leveraged loan analyst at ING Investments in Scottsdale, Arizona. Mr. Saigal received his bachelor’s degree in engineering from Mumbai University and his MBA from the Thunderbird School of Global Management.


Michael Keough

Manager

Start Date

Dec 31, 2015

Tenure

1.92

Tenure Rank

8.2%

Michael Keough is a Portfolio Manager on the fundamental fixed income team. In this role, he co-manages the Janus Long Duration, Janus US Corporate Credit, Janus Core Plus and Janus Intermediate Fixed Income strategies. Mr. Keough also serves as a Global Analyst, focusing primarily on diversified manufacturing, technology and telecommunication sectors. He also serves as an Assistant Portfolio Manager on other fixed income strategies. He joined Janus as a research analyst in January 2007. Prior to his investment management career, Mr. Keough served as a captain in the United States Air Force. Mr. Keough received his bachelor of science degree in business management from the United States Air Force Academy.


Tenure Analysis

Category Low

0.0

Category High

28.9

Category Average

6.33

Category Mode

0.7