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JFLEX Janus Henderson Flexible Bond I

  • Fund
  • JFLEX
  • Price as of: Jun 13, 2019
  • $10.31 + $0.01 + 0.10%
  • Category
  • Total Bond Market

JFLEX - Profile

Vitals

  • YTD Return 3.7%
  • 3 Yr Annualized Return -0.9%
  • 5 Yr Annualized Return -0.6%
  • Net Assets $4.17 B
  • Holdings in Top 10 24.9%

52 WEEK LOW AND HIGH

$10.31
$9.83
$10.31

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.50%

SALES FEES

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

BROKERAGE FEES

  • Turnover 181.00%

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 Core-Plus Bond

Distributions

  • YTD Total Return 3.7%
  • 3 Yr Annualized Total Return -0.9%
  • 5 Yr Annualized Total Return -0.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.73%
DIVIDENDS
  • Dividend Yield 0.0%
  • 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 (%)
YTD 3.7% -3.3% 12.1% 45.94%
1 Yr 2.9% -16.1% 8.0% 36.54%
3 Yr -0.9%* -4.3% 44.5% 87.88%
5 Yr -0.6%* -6.2% 23.8% 65.73%
10 Yr -1.9%* -7.3% 15.9% 98.94%

* Annualized


Return Ranking - Calendar

Period JFLEX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.0% -22.2% 3.1% 68.55%
2017 0.6% -5.1% 25.1% 61.86%
2016 -0.1% -8.5% 192.8% 77.59%
2015 -2.5% -33.0% 3.0% 46.41%
2014 1.8% -29.8% 32.1% 35.39%

Total Return Ranking - Trailing

Period JFLEX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% -3.3% 12.5% 47.74%
1 Yr 2.9% -16.1% 10.5% 44.08%
3 Yr -0.9%* -4.3% 49.6% 92.49%
5 Yr -0.6%* -3.8% 28.8% 77.53%
10 Yr -1.1%* -7.3% 18.6% 98.83%

* Annualized


Total Return Ranking - Calendar

Period JFLEX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.0% -22.2% 7.9% 74.68%
2017 0.6% -4.6% 25.1% 68.80%
2016 -0.1% -4.1% 204.3% 84.83%
2015 -2.5% -32.4% 4.2% 60.34%
2014 1.8% -29.8% 32.1% 45.87%

NAV & Total Return History

JFLEX - Holdings

Concentration Analysis

JFLEX Category Low Category High JFLEX % Rank
Net Assets 4.17 B 337 K 218 B 24.19%
Number of Holdings 404 3 17333 58.64%
Net Assets in Top 10 1.25 B -1.98 B 29.3 B 17.02%
Weighting of Top 10 24.86% 4.0% 1674.7% 54.45%

Top 10 Holdings

  1. United States Treasury Notes 2.5% 4.60%

  2. United States Treasury Notes 2.38% 4.15%

  3. United States Treasury Notes 3.12% 3.88%

  4. United States Treasury Notes 2.62% 2.72%

  5. United States Treasury Notes 2.88% 2.30%

  6. United States Treasury Notes 2.25% 2.17%

  7. United States Treasury Notes 2.62% 1.42%

  8. United States Treasury Notes 2.88% 1.38%

  9. Federal National Mortgage Association 4.5% 1.17%

  10. United States Treasury Notes 2.88% 1.09%


Asset Allocation

Weighting Return Low Return High JFLEX % Rank
Bonds
96.58% 0.00% 394.27% 39.83%
Other
1.68% -98.58% 236.55% 6.98%
Cash
1.60% -539.21% 80.58% 69.41%
Convertible Bonds
0.15% 0.00% 18.42% 67.29%
Stocks
0.00% -0.99% 97.68% 88.03%
Preferred Stocks
0.00% 0.00% 20.33% 89.16%

Bond Sector Breakdown

Weighting Return Low Return High JFLEX % Rank
Securitized
35.56% 0.00% 103.00% 46.28%
Government
32.86% -74.72% 316.66% 29.06%
Corporate
28.31% 0.00% 127.23% 64.69%
Cash & Equivalents
1.60% -532.79% 80.58% 65.23%
Derivative
0.00% -234.33% 54.22% 72.47%
Municipal
0.00% 0.00% 102.07% 93.68%

Bond Geographic Breakdown

Weighting Return Low Return High JFLEX % Rank
US
93.58% 0.00% 219.16% 19.22%
Non US
3.00% -108.37% 244.34% 85.64%

JFLEX - Expenses

Operational Fees

JFLEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.50% 0.00% 38.42% 84.77%
Management Fee 0.40% 0.00% 2.15% 56.21%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.63% N/A

Sales Fees

JFLEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.15% 5.50% N/A

Trading Fees

JFLEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% 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 Return Low Category Return High Rank in Category (%)
Turnover 181.00% 0.00% 2337.00% 78.66%

JFLEX - Distributions

Dividend Yield Analysis

JFLEX Category Low Category High JFLEX % Rank
Dividend Yield 0.02% 0.00% 8.54% 39.80%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

JFLEX Category Low Category High JFLEX % Rank
Net Income Ratio 2.73% -2.82% 7.22% 35.24%

Capital Gain Distribution Analysis

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

JFLEX - Managers

Darrell W. Watters

Manager

Start Date

Tenure

Tenure Rank

May 31, 2007

12.09

12.1%

Darrell Watters is Head of U.S. Fundamental Fixed Income at Janus Henderson Investors, a position he has held since 2015. He is also a Portfolio Manager responsible for co-managing the High Yield, Core Plus, Short Duration, Short Duration High Yield, Intermediate Fixed Income, U.S. Corporate Credit and Long Duration strategies. Additionally, Mr. Watters co-manages the fixed income portion of the Balanced strategy. He has been supporting the firm’s 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. He has 32 years of financial industry experience.


Michael Keough

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2015

3.5

3.5%

Michael Keough is a Portfolio Manager at Janus Henderson Investors, responsible for co-managing the Core Plus, U.S. Corporate Credit, Intermediate Fixed Income, and Long Duration strategies. Mr. Keough joined Janus as a research analyst in January 2007. Prior to his investment management career, he served as a captain in the United States Air Force working as a defense acquisition officer. Mr. Keough received his bachelor of science degree in business management from the United States Air Force Academy, where he was recognized as a Distinguished Graduate in the management department.


Mayur Saigal

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2015

3.5

3.5%

Mayur Saigal is a Portfolio Manager at Janus Henderson Investors, a position he has held since 2013. From 2009 to 2018, he was also head of fundamental fixed income risk. Mr. Saigal pioneered Quantum Global, Janus Henderson’s proprietary portfolio management and risk analytics platform, which provides a multidimensional assessment of portfolios down to the instrument level. Mr. Saigal co-manages the U.S. Corporate Credit, Core Plus, Intermediate Fixed Income, Long Duration and Short Duration strategies. Additionally, he co-manages the fixed income portion of the Balanced strategy. From 2005 to 2009, he 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. He has 16 years of financial industry experience.


Tenure Analysis

Category Low

0.66

Category High

30.51

Category Average

9.5

Category Mode

12.59