Janus Henderson Multi-Sector Income Fund
Fund
JMTNX
Price as of:
$8.59
- $0.00
- 0.00%
Primary Theme
fund company
Name
As of 11/21/2024Price
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
Vitals
YTD Return
6.7%
1 yr return
10.6%
3 Yr Avg Return
1.2%
5 Yr Avg Return
2.6%
Net Assets
$3.67 B
Holdings in Top 10
23.1%
52 WEEK LOW AND HIGH
$8.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.60%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 119.00%
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 11/21/2024Price
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
JMTNX - Profile
Distributions
- YTD Total Return 6.7%
- 3 Yr Annualized Total Return 1.2%
- 5 Yr Annualized Total Return 2.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.21%
- Dividend Yield 7.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameJanus Henderson Multi-Sector Income Fund
-
Fund Family NameJanus Henderson Funds
-
Inception DateFeb 28, 2014
-
Shares OutstandingN/A
-
Share ClassN
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Lloyd
Fund Description
The Fund pursues its investment objective by primarily investing, under normal circumstances, in a multi-sector portfolio of U.S. and non-U.S. debt securities of varying maturities that portfolio management believes have high income potential relative to other fixed-income instruments available at a given point in time. Portfolio management may also consider the capital appreciation potential of certain investments. The Fund’s investment sectors include, but are not limited to: (i) government notes and bonds; (ii) corporate bonds, including high-yield bonds (also known as “junk” bonds); (iii) commercial loans; (iv) agency and non-agency commercial and residential mortgage-backed securities; (v) asset-backed securities; (vi) convertible securities and preferred stock; and (vii) emerging market debt. Portfolio management believes that by investing in multiple sectors that potentially have low correlation to each other, the Fund’s overall volatility may be reduced. The Fund may not have exposure to all of these investment sectors, and the Fund’s exposure to any one investment sector will vary over time. Due to the nature of the securities in which the Fund invests, it may have relatively high portfolio turnover compared to other funds.The Fund’s investments in below investment grade securities are limited to 65% of its net assets, but under unusual circumstances, such as when new issue allocations are higher than expected, this limit may be exceeded on a temporary basis.The Fund may invest up to 50% of its total assets in the commercial loans sector. Such investments may include bank loans, bridge loans, debtor-in-possession (“DIP”) loans, mezzanine loans, and other fixed and floating rate loans. Normally, the Fund’s exposure to the commercial loans sector will be approximately 15% of the Fund’s total assets. The Fund may invest in floating rate obligations, including collateralized loan obligations, credit risk transfer securities (“CRTs”), floating rate senior secured syndicated bank loans, floating rate unsecured loans, and other floating rate bonds, loans and notes. The Fund may also invest in zero-coupon bonds. The Fund may enter into “to be announced” or “TBA” commitments when purchasing mortgage-backed securities or other securities. The Fund may also invest in securities that have contractual restrictions that prohibit or limit their public resale, which may include Rule 144A securities.Additionally, the Fund may invest its assets in derivatives. Derivative instruments have a value derived from, or directly linked to, an underlying asset, such as fixed-income securities, commodities, currencies, interest rates, or market indices. In particular, the Fund may use swaps, including index credit default swaps, commercial mortgage-backed securities index swaps, and single-name credit default swaps, forward currency exchange contracts, interest rate futures, and put and call options. The Fund may use derivatives for various investment purposes including for hedging purposes, such as to manage portfolio risk or currency risk, to enhance returns, or manage duration. The Fund’s exposure to derivatives will vary. The Fund may engage in short sales of derivatives instruments.Portfolio management’s investment process is research-driven, incorporating“top-down”and “bottom-up” factors to identify and manage exposure to risks across sectors,industries, and individual investments. Portfolio management evaluates expected risk-adjusted returns on a portfolio and position level by analyzing fundamentals,valuations, and market technical indicators.This research encompasses both traditional fundamental analysis and data driven quantitative models and signals from such models.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 Factors 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.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.
Read More
JMTNX - Performance
Return Ranking - Trailing
| Period | JMTNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.7% | -10.1% | 17.5% | 30.56% |
| 1 Yr | 10.6% | -6.8% | 20.9% | 27.16% |
| 3 Yr | 1.2%* | -16.6% | 16.3% | 51.42% |
| 5 Yr | 2.6%* | -14.2% | 14.0% | 43.17% |
| 10 Yr | 3.9%* | -7.1% | 6.8% | 6.59% |
* Annualized
Return Ranking - Calendar
| Period | JMTNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.1% | -12.0% | 8.9% | 42.53% |
| 2022 | -16.1% | -31.8% | 18.4% | 78.52% |
| 2021 | -1.0% | -16.2% | 25.7% | 39.22% |
| 2020 | 0.5% | -31.1% | 18.7% | 62.70% |
| 2019 | 5.7% | -6.1% | 15.3% | 37.62% |
Total Return Ranking - Trailing
| Period | JMTNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.7% | -10.1% | 17.5% | 30.56% |
| 1 Yr | 10.6% | -6.8% | 20.9% | 27.16% |
| 3 Yr | 1.2%* | -16.6% | 16.3% | 51.42% |
| 5 Yr | 2.6%* | -14.2% | 14.0% | 43.17% |
| 10 Yr | 3.9%* | -7.1% | 6.8% | 6.59% |
* Annualized
Total Return Ranking - Calendar
| Period | JMTNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.0% | -6.9% | 22.2% | 11.56% |
| 2022 | -11.5% | -31.8% | 21.1% | 70.93% |
| 2021 | 3.1% | -13.5% | 49.9% | 32.35% |
| 2020 | 7.0% | -28.6% | 24.1% | 34.10% |
| 2019 | 12.3% | -4.8% | 19.1% | 12.67% |
NAV & Total Return History
JMTNX - Holdings
Concentration Analysis
| JMTNX | Category Low | Category High | JMTNX % Rank | |
|---|---|---|---|---|
| Net Assets | 3.67 B | 2.63 M | 143 B | 16.83% |
| Number of Holdings | 736 | 4 | 9195 | 36.70% |
| Net Assets in Top 10 | 947 M | -204 M | 80.4 B | 21.62% |
| Weighting of Top 10 | 23.06% | 5.8% | 265.8% | 58.46% |
Top 10 Holdings
- Janus Henderson Cash Liquidity Fund LLC 3.61%
- FNMA-30YR 3.40%
- FNMA-30YR 2.63%
- FNMA-30YR 2.55%
- FNMA-30YR 2.49%
- G2-30YR-Multi 2.16%
- FNMA-30YR 2.12%
- FNMA-30YR 1.54%
- CBAM 2021-14A A 1.46%
- FNMA-30YR 1.09%
Asset Allocation
| Weighting | Return Low | Return High | JMTNX % Rank | |
|---|---|---|---|---|
| Bonds | 82.89% | 0.00% | 199.60% | 67.03% |
| Other | 34.11% | -73.61% | 147.15% | 7.31% |
| Stocks | 4.43% | -6.18% | 99.66% | 21.31% |
| Convertible Bonds | 1.24% | 0.00% | 33.50% | 49.36% |
| Cash | 0.08% | -94.66% | 99.97% | 89.89% |
| Preferred Stocks | 0.07% | 0.00% | 26.42% | 32.66% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | JMTNX % Rank | |
|---|---|---|---|---|
| Industrials | 40.51% | 0.00% | 100.00% | 6.07% |
| Consumer Cyclical | 33.03% | 0.00% | 89.95% | 3.76% |
| Technology | 26.46% | 0.00% | 28.30% | 2.89% |
| Utilities | 0.00% | 0.00% | 100.00% | 86.71% |
| Real Estate | 0.00% | 0.00% | 100.00% | 86.13% |
| Healthcare | 0.00% | 0.00% | 18.60% | 85.26% |
| Financial Services | 0.00% | 0.00% | 100.00% | 91.04% |
| Energy | 0.00% | 0.00% | 100.00% | 95.38% |
| Communication Services | 0.00% | 0.00% | 100.00% | 86.99% |
| Consumer Defense | 0.00% | 0.00% | 99.97% | 84.68% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 84.68% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | JMTNX % Rank | |
|---|---|---|---|---|
| US | 4.43% | -6.18% | 99.66% | 20.53% |
| Non US | 0.00% | -0.26% | 17.73% | 81.03% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | JMTNX % Rank | |
|---|---|---|---|---|
| Securitized | 62.56% | 0.00% | 99.65% | 11.08% |
| Corporate | 34.40% | 0.00% | 96.66% | 53.29% |
| Derivative | 0.29% | -73.61% | 147.15% | 28.86% |
| Cash & Equivalents | 0.08% | 0.00% | 94.89% | 88.30% |
| Municipal | 0.00% | 0.00% | 54.26% | 85.39% |
| Government | 0.00% | 0.00% | 99.43% | 96.95% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | JMTNX % Rank | |
|---|---|---|---|---|
| US | 77.95% | 0.00% | 199.60% | 51.63% |
| Non US | 4.94% | 0.00% | 74.14% | 41.06% |
JMTNX - Expenses
Operational Fees
| JMTNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.60% | 0.03% | 20.67% | 92.87% |
| Management Fee | 0.53% | 0.00% | 2.29% | 30.09% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
| JMTNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.50% | N/A |
Trading Fees
| JMTNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 2.00% | 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.
| JMTNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 119.00% | 0.00% | 632.00% | 74.25% |
JMTNX - Distributions
Dividend Yield Analysis
| JMTNX | Category Low | Category High | JMTNX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 7.12% | 0.00% | 23.30% | 15.41% |
Dividend Distribution Analysis
| JMTNX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| JMTNX | Category Low | Category High | JMTNX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.21% | -1.55% | 11.51% | 15.17% |
Capital Gain Distribution Analysis
| JMTNX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Oct 31, 2024 | $0.051 | OrdinaryDividend |
| Sep 30, 2024 | $0.045 | OrdinaryDividend |
| Aug 30, 2024 | $0.054 | OrdinaryDividend |
| Jul 31, 2024 | $0.053 | OrdinaryDividend |
| Apr 30, 2024 | $0.052 | OrdinaryDividend |
| Mar 28, 2024 | $0.051 | OrdinaryDividend |
| Feb 29, 2024 | $0.050 | OrdinaryDividend |
| Jan 31, 2024 | $0.050 | OrdinaryDividend |
| Dec 29, 2023 | $0.051 | OrdinaryDividend |
| Nov 30, 2023 | $0.049 | OrdinaryDividend |
| Oct 31, 2023 | $0.048 | OrdinaryDividend |
| Sep 29, 2023 | $0.051 | OrdinaryDividend |
| Aug 31, 2023 | $0.055 | OrdinaryDividend |
| Jul 31, 2023 | $0.045 | OrdinaryDividend |
| Jun 30, 2023 | $0.053 | OrdinaryDividend |
| May 31, 2023 | $0.047 | OrdinaryDividend |
| Apr 28, 2023 | $0.043 | OrdinaryDividend |
| Mar 31, 2023 | $0.050 | OrdinaryDividend |
| Feb 28, 2023 | $0.044 | OrdinaryDividend |
| Jan 31, 2023 | $0.043 | OrdinaryDividend |
| Dec 30, 2022 | $0.045 | OrdinaryDividend |
| Nov 30, 2022 | $0.041 | OrdinaryDividend |
| Oct 31, 2022 | $0.040 | OrdinaryDividend |
| Sep 30, 2022 | $0.042 | OrdinaryDividend |
| Aug 31, 2022 | $0.039 | OrdinaryDividend |
| Jul 29, 2022 | $0.037 | OrdinaryDividend |
| Jun 30, 2022 | $0.034 | OrdinaryDividend |
| May 31, 2022 | $0.032 | OrdinaryDividend |
| Apr 29, 2022 | $0.033 | OrdinaryDividend |
| Mar 31, 2022 | $0.032 | OrdinaryDividend |
| Feb 28, 2022 | $0.033 | OrdinaryDividend |
| Jan 31, 2022 | $0.037 | OrdinaryDividend |
| Dec 31, 2021 | $0.016 | CapitalGainShortTerm |
| Dec 31, 2021 | $0.018 | CapitalGainLongTerm |
| Nov 30, 2021 | $0.031 | OrdinaryDividend |
| Oct 29, 2021 | $0.033 | OrdinaryDividend |
| Sep 30, 2021 | $0.029 | OrdinaryDividend |
| Aug 31, 2021 | $0.032 | OrdinaryDividend |
| Jun 30, 2021 | $0.032 | OrdinaryDividend |
| May 28, 2021 | $0.030 | OrdinaryDividend |
| Apr 30, 2021 | $0.038 | OrdinaryDividend |
| Mar 31, 2021 | $0.036 | OrdinaryDividend |
| Feb 26, 2021 | $0.037 | OrdinaryDividend |
| Jan 29, 2021 | $0.033 | OrdinaryDividend |
| Dec 31, 2020 | $0.044 | OrdinaryDividend |
| Nov 30, 2020 | $0.037 | OrdinaryDividend |
| Oct 30, 2020 | $0.035 | OrdinaryDividend |
| Sep 30, 2020 | $0.035 | OrdinaryDividend |
| Aug 31, 2020 | $0.039 | OrdinaryDividend |
| Jul 31, 2020 | $0.043 | OrdinaryDividend |
| Jun 30, 2020 | $0.041 | OrdinaryDividend |
| May 29, 2020 | $0.039 | OrdinaryDividend |
| Apr 30, 2020 | $0.037 | OrdinaryDividend |
| Mar 31, 2020 | $0.036 | OrdinaryDividend |
| Feb 28, 2020 | $0.043 | OrdinaryDividend |
| Jan 31, 2020 | $0.037 | OrdinaryDividend |
| Dec 31, 2019 | $0.042 | OrdinaryDividend |
| Dec 31, 2019 | $0.048 | Extra |
| Dec 31, 2019 | $0.048 | CapitalGainShortTerm |
| Dec 31, 2019 | $0.006 | CapitalGainLongTerm |
| Nov 29, 2019 | $0.034 | OrdinaryDividend |
| Oct 31, 2019 | $0.034 | OrdinaryDividend |
| Sep 30, 2019 | $0.033 | OrdinaryDividend |
| Aug 30, 2019 | $0.040 | OrdinaryDividend |
| Jul 31, 2019 | $0.037 | OrdinaryDividend |
| Dec 29, 2017 | $0.042 | CapitalGainShortTerm |
| Dec 29, 2017 | $0.014 | CapitalGainLongTerm |
| Dec 30, 2016 | $0.020 | CapitalGainShortTerm |
| Dec 31, 2014 | $0.036 | ExtraDividend |
| Dec 31, 2014 | $0.040 | CapitalGainShortTerm |
JMTNX - Fund Manager Analysis
Managers
John Lloyd
Start Date
Tenure
Tenure Rank
Feb 28, 2014
8.26
8.3%
John Lloyd is Co-Head of Global Credit Research of Janus Henderson Investors. He is Executive Vice President and Co-Portfolio Manager of Janus Henderson Multi-Sector Income Fund, which he has co-managed since February 2014. Mr. Lloyd is also Portfolio Manager of other Janus Henderson accounts and performs duties as an analyst. He joined Janus Capital as a research analyst in January 2005. Mr. Lloyd holds a Bachelor of Arts degree in Economics from the University of Michigan and a Master of Business Administration degree from the Tuck School of Business at Dartmouth College.
John Kerschner
Start Date
Tenure
Tenure Rank
Feb 28, 2014
8.26
8.3%
John Kerschner, CFA, is Head of U.S. Securitized Products of Janus Henderson Investors. He also performs duties as a fixed-income analyst. Mr. Kerschner joined Janus Capital in December 2010. Prior to joining Janus Capital, Mr. Kerschner was director of portfolio management at BBW Capital Advisors from 2009-2010 and the Global Head of Credit Investing for Woodbourne Investment Management from 2007-2009.Kerschner is a senior portfolio manager with Smith Breeden. Kerschner joined Smith Breeden in 1994. Mr. Kerschner holds a Bachelor of Science degree (cum laude) in Biology from Yale University and a Master of Business Administration degree from the Fuqua School of Finance at Duke University, where he was designated a Fuqua Scholar. Kerschner holds the Chartered Financial Analyst designation.
Seth Meyer
Start Date
Tenure
Tenure Rank
Feb 28, 2014
8.26
8.3%
"Seth Meyer is a Portfolio Manager at Janus Henderson Investors responsible for co-managing the High Yield, Global High Yield, Multi-Sector Credit and Short Duration High Yield strategies. He also has co-managed the fixed income portion of the Perkins Value Plus Income strategy since 2018. Seth was promoted to assistant portfolio manager supporting primarily the High Yield and Short Duration High Yield strategies in 2012. He joined Janus in 2004 as a product manager covering a variety of equity and fixed income strategies before becoming a credit analyst. Prior to Janus, he was a consultant relations manager at OppenheimerFunds. Seth received his bachelor of science degree in business administration with a concentration in finance from the University of Colorado. He holds the Chartered Financial Analyst designation and has 21 years of financial industry experience."
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 28.19 | 5.71 | 3.19 |