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Name

As of 11/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Janus Henderson Developed World Bond Fund

HFAIX | Fund

$7.70

$1.39 B

3.00%

$0.23

0.72%

Vitals

YTD Return

1.1%

1 yr return

6.8%

3 Yr Avg Return

-3.5%

5 Yr Avg Return

-0.5%

Net Assets

$1.39 B

Holdings in Top 10

20.6%

52 WEEK LOW AND HIGH

$7.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.72%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 37.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Janus Henderson Developed World Bond Fund

HFAIX | Fund

$7.70

$1.39 B

3.00%

$0.23

0.72%

HFAIX - Profile

Distributions

  • YTD Total Return 1.1%
  • 3 Yr Annualized Total Return -3.5%
  • 5 Yr Annualized Total Return -0.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.94%
DIVIDENDS
  • Dividend Yield 3.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Janus Henderson Developed World Bond Fund
  • Fund Family Name
    Janus Henderson
  • Inception Date
    Sep 30, 2003
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jenna Barnard

Fund Description

The Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in bonds or other income-producing debt-related securities from developed countries. The Fund considers “developed countries” to include, but not be limited to, those countries characterized as developed by the MSCI World Indexsm, including the United States, United Kingdom, Canada, Australia, Sweden, Denmark, Japan, Austria, Belgium, Finland, France, Germany, New Zealand, the Netherlands, and Switzerland, or such other countries as portfolio management deems to be developed.Under normal circumstances, portfolio management intends to invest at least 40% of the Fund’s net assets outside of the United States and in at least three different countries. A security is deemed to originate in a country if one or more of the following tests are met: (i) the company is organized in, or its primary business office or principal trading market of its equity is located in, the country, (ii) a majority of the company’s assets are located in the country, or (iii) a majority of the company’s revenues are derived from the country. The Fund may also invest up to 20% of its net assets in equity and equity-related securities such as convertibles and debt securities with warrants. While the Fund has no policy limiting the currency in which foreign securities may be denominated, the Fund seeks to hedge its non-dollar investments back to the U.S. dollar.Portfolio management uses a process that combines a bottom-up approach to individual security selection rooted in thorough, independent research with a macro-economic overlay that determines appropriate country, asset sector, currency and industry exposure. In their bottom-up approach, portfolio management uses both qualitative and quantitative credit analysis to consider a variety of factors, including the issuer’s experience, managerial strength, debt service capability, operating outlook, sensitivity to economic conditions, current financial condition, liquidity and access to capital, asset protection, structural issues, covenant protection, and equity sponsorship.Portfolio management meets with prospective and purchased debt issuers. They also work closely with a team of analysts to search for the most appropriate securities to include in the Fund’s portfolio.Sector, regional and industry allocations are evaluated within a broader economic and market context and involve: (i) evaluation of the economic and interest rate environment that determines asset sector allocation and quality mix; (ii) evaluation of country and regional economic environment to support country allocation decisions; and (iii) analysis of industry weightings, including stability and growth of industries, cash flows and/or positive equity momentum.As part of its investment process, portfolio management considers environmental, social, and governance (“ESG”) risks and opportunities (“ESG Factors”) that it believes are financially material, alongside other fundamental investment factors. Examples of potential financially material ESG Factors include corporate governance, company culture, exposure to climate change, and human capital management. To assess ESG Factors, portfolio management uses issuer reports, third-party data, and internally-generated analyses and may engage directly with issuers. ESG risks and opportunities are one of many considerations in the investment decision-making process and may not be determinative in deciding to include or exclude an investment from the portfolio.Portfolio management seeks to (i) avoid corporate issuers that are significantly engaged in business activities that they believe may be environmentally and/or socially harmful, as discussed below; (ii) invest in a portfolio of corporate issuers that, in the aggregate, has a lower carbon intensity and/or footprint than the ICE BofA Global Corporate & High Yield Index on a monthly basis; (iii) avoid sovereign bond issuers that (a) have been sanctioned by the European Union or United Nations or have insufficient rankings with respect to political rights and civil liberties, as measured by third-party inputs, or (b) have not ratified the Paris Climate Accord.To identify the universe of investible securities for the Fund, portfolio management applies broad-based negative screens, which incorporate third-party inputs, to seek to avoid securities of issuers that derive more than de minimis revenue from certain activities considered by portfolio management to be environmentally and/or socially harmful. A current list of such business activities, which may evolve over time, follows:•oil and gas generation and production;•oil sands extraction;•shale energy extraction;•thermal coal extraction and power generation;•Arctic oil and gas extraction;•tobacco;•fur;•adult entertainment;•gambling or controversial weapons; and•United Nations Global Compact violators.The Fund does not apply the avoidance criteria noted above in managing the Fund’s exposure to cash and cash equivalents, U.S. Treasuries, and credit default swaps on indices.The Fund will generally consider selling a security when, in portfolio management’s opinion, there is significant deterioration in company fundamentals, an inability to maintain open communication with management, a change in business strategy, a change in issuer-specific business outlook, realization of anticipated gains, or a failure by the issuer to meet operating/ financial targets. The Fund will also consider selling a security if, in portfolio management’s opinion, it no longer meets the environmental or social criteria noted above, or a superior investment opportunity arises.Securities in which the Fund may invest include: all types of bonds, debentures, mortgage-related and other asset-backed securities, investment grade debt securities (including corporate debt, developed market government bonds, and U.S. Government securities), high yield securities (also known as “junk” bonds), foreign securities, subordinated bank debt, collective investment schemes, domestic or foreign floating rate senior secured syndicated bank loans, floating rate unsecured loans, and other floating rate bonds, loans and notes. Portfolio management may shift the Fund’s assets among various types of income-producing securities based upon changing market conditions. The Fund’s average portfolio duration normally may range from zero to plus nine years. Portfolio management may lengthen or shorten the Fund’s duration based on their outlook on interest rates and inflation. The Fund may invest in issuers of any credit quality. The Fund may also invest in securities that have contractual restrictions that prohibit or limit their public resale, which may include Rule 144A securities.The Fund may engage in exchange-traded or over-the-counter derivative transactions to seek return, to generate income, to hedge against fluctuations in securities prices, interest rates or currency exchange rates, to change the effective duration of the portfolio, to manage certain investment risks, or as a substitute for the purchase or sale of securities or currencies. To the extent derivatives are used, the Fund expects to use them principally when seeking to hedge currency exposure using forward foreign currency contracts, to obtain net long or net negative (short) exposures to selected interest rate, duration or credit risks using a combination of bond or interest rate futures contracts, options on bond or interest rate futures contracts, and interest rate, inflation rate and credit default swap agreements. The Fund may invest in credit default swaps to gain issuer exposure or to gain sector exposure. The Fund may take short positions on derivatives instruments.The Fund may seek to earn additional income through lending its securities to certain qualified broker-dealers and institutions, in an amount equal to up to one-third of its total assets as determined at the time of the loan origination.
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HFAIX - Performance

Return Ranking - Trailing

Period HFAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.1% -15.2% -2.4% 77.69%
1 Yr 6.8% -10.4% -2.5% 25.95%
3 Yr -3.5%* -1.2% 4.2% 15.25%
5 Yr -0.5%* -0.1% 3.7% 7.22%
10 Yr N/A* 0.0% 4.6% 1.39%

* Annualized

Return Ranking - Calendar

Period HFAIX Return Category Return Low Category Return High Rank in Category (%)
2023 3.8% -9.4% -0.6% 9.68%
2022 -23.3% -1.3% 7.0% 30.09%
2021 -2.2% 0.5% 200.9% 44.95%
2020 4.6% -15.5% 3.1% 51.00%
2019 5.7% -0.6% 30.6% N/A

Total Return Ranking - Trailing

Period HFAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.1% -15.2% -2.4% 76.92%
1 Yr 6.8% -12.6% -2.5% 21.37%
3 Yr -3.5%* -1.6% 4.2% 12.71%
5 Yr -0.5%* -0.1% 3.7% 7.22%
10 Yr N/A* 0.0% 4.6% 1.39%

* Annualized

Total Return Ranking - Calendar

Period HFAIX Return Category Return Low Category Return High Rank in Category (%)
2023 6.7% -9.4% -0.6% 9.68%
2022 -16.4% -1.3% 7.0% 30.09%
2021 -0.4% 0.5% 200.9% 36.70%
2020 9.6% -15.5% 3.3% 6.00%
2019 10.3% 0.1% 30.6% N/A

NAV & Total Return History

HFAIX - Holdings

Concentration Analysis

HFAIX Category Low Category High HFAIX % Rank
Net Assets 1.39 B 21.8 M 93.5 B 28.24%
Number of Holdings 422 5 7040 71.21%
Net Assets in Top 10 225 M -839 M 6.06 B 22.73%
Weighting of Top 10 20.59% 6.1% 100.0% 50.76%

Top 10 Holdings

  1. Janus Henderson Cash Liquidity Fund LLC 3.30%
  2. ACGB 3.25 04/21/29 138 2.31%
  3. ACGB 2.75 05/21/41 156 2.22%
  4. NETHER 0.75 07/15/28 2.20%
  5. SGB 0.125 05/12/31 1062 2.08%
  6. NETHER 0.5 07/15/32 1.86%
  7. Canadian Government Bond 1.78%
  8. United States Treasury Note/Bond 1.72%
  9. FN CB3240 1.63%
  10. New Zealand Government Bond 1.51%

Asset Allocation

Weighting Return Low Return High HFAIX % Rank
Bonds 		94.53% 36.86% 100.73% 52.27%
Convertible Bonds 		4.39% 0.00% 14.16% 46.97%
Stocks 		3.31% 0.00% 0.70% 16.67%
Cash 		1.50% -2.75% 67.17% 53.03%
Other 		0.66% -8.93% 0.72% 68.18%
Preferred Stocks 		0.00% 0.00% 0.73% 10.61%

Stock Sector Breakdown

Weighting Return Low Return High HFAIX % Rank
Financial Services 		100.00% 0.00% 100.00% 48.48%
Utilities 		0.00% 0.00% 100.00% 84.85%
Technology 		0.00% 0.00% 48.29% 69.70%
Real Estate 		0.00% 0.00% 0.00% 69.70%
Industrials 		0.00% 0.00% 3.92% 69.70%
Healthcare 		0.00% 0.00% 6.16% 69.70%
Energy 		0.00% 0.00% 0.00% 69.70%
Communication Services 		0.00% 0.00% 17.03% 69.70%
Consumer Defense 		0.00% 0.00% 5.49% 69.70%
Consumer Cyclical 		0.00% 0.00% 17.00% 69.70%
Basic Materials 		0.00% 0.00% 0.00% 69.70%

Stock Geographic Breakdown

Weighting Return Low Return High HFAIX % Rank
US 		3.31% 0.00% 0.70% 74.24%
Non US 		0.00% 0.00% 0.08% 13.64%

Bond Sector Breakdown

Weighting Return Low Return High HFAIX % Rank
Corporate 		56.42% 0.00% 70.79% 14.39%
Government 		40.63% 1.71% 97.31% 56.06%
Securitized 		0.50% 0.00% 29.11% 79.55%
Derivative 		0.12% 0.00% 50.79% 92.42%
Cash & Equivalents 		0.00% 0.00% 51.02% 42.42%
Municipal 		0.00% 0.00% 3.10% 84.09%

Bond Geographic Breakdown

Weighting Return Low Return High HFAIX % Rank
Non US 		49.62% 26.05% 98.85% 61.36%
US 		44.91% -11.86% 53.57% 38.64%

HFAIX - Expenses

Operational Fees

HFAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.72% 0.02% 1.81% 68.75%
Management Fee 0.53% 0.00% 0.83% 68.94%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

HFAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 4.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

HFAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

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.

HFAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 37.00% 2.00% 402.00% 40.54%

HFAIX - Distributions

Dividend Yield Analysis

HFAIX Category Low Category High HFAIX % Rank
Dividend Yield 3.00% 0.00% 2.20% 87.12%

Dividend Distribution Analysis

HFAIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

HFAIX Category Low Category High HFAIX % Rank
Net Income Ratio 1.94% -0.30% 3.10% 10.69%

Capital Gain Distribution Analysis

HFAIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

HFAIX - Fund Manager Analysis

Managers

Jenna Barnard

Start Date

Tenure

Tenure Rank

Dec 22, 2008

13.45

13.5%

"Jenna Barnard is Co-Head of Strategic Fixed Income at Janus Henderson Investors, a position she has held since 2015. She manages and co-manages a range of strategic fixed income strategies and funds meeting different client needs globally. Jenna joined Henderson in 2002 as a credit analyst and was promoted to portfolio manager in 2004. Prior to this, she worked as an investment analyst with Orbitex Investments. Jenna graduated with a first class BA degree (Hons) in politics, philosophy, and economics from Oxford University. She holds the Chartered Financial Analyst designation, is a member of the Society of Technical Analysts, and is an Affiliate Member of the UK Society of Investment Professionals. She has 18 years of financial industry experience."

John Pattullo

Start Date

Tenure

Tenure Rank

Dec 22, 2008

13.45

13.5%

"John Pattullo is Co-Head of Strategic Fixed Income at Janus Henderson Investors. He manages and co-manages a range of strategic fixed income strategies and funds meeting different client needs globally. John joined Henderson in 1997 as a trainee manager in corporate bonds and was head of the Strategic Fixed Income Team from 2009 until 2015 when he became Co-Head with Jenna Barnard. Prior to Henderson, he spent four years as a chartered accountant at PricewaterhouseCoopers. John has an MA (Hons) in economics from the University of St Andrews. He is a member of the Institute of Chartered Accountants of Scotland (CA) and an associate member of the Society of Investment Professionals (ASIP). He has 26 years of financial industry experience."

Tenure Analysis

Category Low Category High Category Average Category Mode
0.12 31.42 5.43 0.92

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