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Trending ETFs

Name

As of 05/21/2024

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

$21.98

$2.77 M

0.94%

$0.21

0.65%

Vitals

YTD Return

-3.0%

1 yr return

3.5%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$2.77 M

Holdings in Top 10

66.4%

52 WEEK LOW AND HIGH

$22.0
$18.94
$23.33

Expenses

OPERATING FEES

Expense Ratio 0.65%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 05/21/2024

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

$21.98

$2.77 M

0.94%

$0.21

0.65%

JRE - Profile

Distributions

  • YTD Total Return -3.0%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.9%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Janus Henderson U.S. Real Estate ETF
  • Fund Family Name
    Janus Henderson Funds
  • Inception Date
    Jun 23, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Daniel Greenberger

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 equity securities of U.S. real estate-related companies. Such companies may include those in the real estate industry or real estate-related industries. These securities will be listed on a national securities exchange and may include common stocks, preferred stocks, and other equity securities, including, but not limited to, real estate investment trusts (“REITs”) and REIT-like entities (such as real estate operating companies (“REOCs”)). However, the Fund will not invest directly in real estate. The Fund may invest in shares of companies through initial public offerings. The Fund may invest in companies of any capitalization.

The Fund is classified as non-diversified, which allows it to hold larger positions in companies, compared to a fund that is classified as diversified. As a fundamental policy, the Fund will concentrate 25% or more of its net assets in securities of issuers in real estate and real estate-related industries.

For purposes of the Fund’s principal investment strategies, companies in real estate-related industries are U.S. companies at the time of investment (i) that derive at least 50% of their revenue from ownership, construction, extraction, financing, management, operation, sales or development of real estate; (ii) that have at least 50% of their book value (balance sheet) in real estate assets; or (iii) where the market value of real estate holdings is greater than 50% of enterprise value.

A REIT is an entity dedicated to owning, and usually operating, income-producing real estate, or to financing real estate. REITs pool investors’ funds for investment primarily in income-producing real estate or real estate-related loans or interests. Under the Internal Revenue Code of 1986, as amended, a REIT is not taxed on income it distributes to its shareholders if it complies with several requirements relating to its organization, ownership, assets and income, and a requirement that it generally distributes to its shareholders at least 90% of its taxable income (other than net capital gains) for each taxable year. A REOC is a publicly traded corporation that is engaged in real estate businesses, but that has not taken (or is not eligible for) the REIT tax election and therefore does not have a requirement to distribute any of its taxable income.

The Fund may also invest up to 15% of its net assets in securities of Canadian issuers. The Fund may use derivatives, including currency forwards and futures contracts, only for the purposes of currency hedging associated with potential investments in Canadian securities.

The Fund may invest a portion of its assets in cash or other short-term instruments, such as money market instruments or money market funds (including private funds operating as money market funds that are not registered under the Investment Company Act of 1940, as amended (the “1940 Act”), while deploying new capital, for liquidity management purposes, managing redemptions or for defensive purposes, including navigating unusual market conditions.

The Fund is “actively managed” and does not seek to replicate the composition or performance of an index. In choosing investments for the Fund, portfolio management applies a “bottom up” approach that utilizes portfolio management’s knowledge of issuers, including of such factors as a company’s balance sheet, valuation, strength of management, and risk-adjusted returns. To identify the universe of investible securities for the Fund, portfolio management also applies negative screens, which incorporate third-party inputs, to seek to avoid investing in (i) REITs that are involved in the operation of prison facilities and (ii) issuers that are United Nations Global Compact violators. At portfolio management’s discretion, the Fund will engage with companies regarding the adoption, or commitment to adopt, emission reduction targets. Portfolio management will generally consider selling a stock if they believe that its future prospects have been accurately reflected in the market price, if the company no longer meets the social or environmental criteria noted above, or if their original investment thesis has changed.

The Fund may seek to earn additional income through lending its securities to certain qualified broker-dealers and institutions on a short-term or long-term basis, 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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JRE - Performance

Return Ranking - Trailing

Period JRE Return Category Return Low Category Return High Rank in Category (%)
YTD -3.0% -49.2% 11.9% 94.76%
1 Yr 3.5% -47.4% 116.8% N/A
3 Yr N/A* -21.4% 30.0% N/A
5 Yr N/A* -14.5% 17.5% N/A
10 Yr N/A* -9.4% 11.0% N/A

* Annualized

Return Ranking - Calendar

Period JRE Return Category Return Low Category Return High Rank in Category (%)
2023 5.7% -51.3% 81.2% N/A
2022 -25.6% -21.3% 31.3% N/A
2021 N/A -14.7% 41.4% N/A
2020 N/A -26.4% 9.4% N/A
2019 N/A -10.9% 7.8% N/A

Total Return Ranking - Trailing

Period JRE Return Category Return Low Category Return High Rank in Category (%)
YTD -3.0% -49.2% 11.9% 94.76%
1 Yr 3.5% -47.4% 116.8% N/A
3 Yr N/A* -21.4% 30.0% N/A
5 Yr N/A* -14.5% 20.9% N/A
10 Yr N/A* -9.4% 13.9% N/A

* Annualized

Total Return Ranking - Calendar

Period JRE Return Category Return Low Category Return High Rank in Category (%)
2023 8.8% -51.3% 81.2% N/A
2022 -23.5% -21.3% 31.3% N/A
2021 N/A -14.7% 41.4% N/A
2020 N/A -26.4% 9.4% N/A
2019 N/A -10.7% 8.2% N/A

JRE - Holdings

Concentration Analysis

JRE Category Low Category High JRE % Rank
Net Assets 2.77 M 1.28 M 78.4 B 95.86%
Number of Holdings 21 20 642 97.97%
Net Assets in Top 10 1.81 M 7.44 K 35.2 B 94.26%
Weighting of Top 10 66.40% 15.9% 99.8% 9.00%

Top 10 Holdings

  1. Equinix, Inc. 11.27%
  2. Prologis, Inc. 10.40%
  3. Welltower, Inc. 8.30%
  4. AvalonBay Communities, Inc. 6.53%
  5. VICI Properties, Inc., Class A 6.16%
  6. Americold Realty Trust, Inc. 5.62%
  7. American Homes 4 Rent, Class A 5.08%
  8. Sabra Health Care REIT, Inc. 4.50%
  9. Agree Realty Corp. 4.42%
  10. UDR, Inc. 4.13%

Asset Allocation

Weighting Return Low Return High JRE % Rank
Stocks
96.22% 0.01% 106.94% 45.27%
Cash
1.55% -98.06% 25.84% 89.86%
Preferred Stocks
0.00% -0.12% 33.96% 61.82%
Other
0.00% -1.70% 94.17% 13.18%
Convertible Bonds
0.00% 0.00% 10.95% 58.78%
Bonds
0.00% -3.17% 97.45% 60.81%

Stock Sector Breakdown

Weighting Return Low Return High JRE % Rank
Utilities
0.00% 0.00% 9.09% 55.87%
Technology
0.00% 0.00% 12.02% 65.84%
Real Estate
0.00% 34.46% 100.00% 21.71%
Industrials
0.00% 0.00% 7.39% 59.43%
Healthcare
0.00% 0.00% 0.53% 56.58%
Financial Services
0.00% 0.00% 37.05% 60.85%
Energy
0.00% 0.00% 33.11% 56.94%
Communication Services
0.00% 0.00% 11.61% 59.43%
Consumer Defense
0.00% 0.00% 1.53% 55.87%
Consumer Cyclical
0.00% 0.00% 45.29% 77.58%
Basic Materials
0.00% 0.00% 13.69% 57.30%

Stock Geographic Breakdown

Weighting Return Low Return High JRE % Rank
US
93.47% 0.01% 101.17% 55.07%
Non US
2.75% 0.00% 44.90% 22.30%

JRE - Expenses

Operational Fees

JRE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.65% 0.07% 4.72% 81.69%
Management Fee 0.65% 0.00% 1.50% 34.58%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

JRE 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% 2.25% N/A

Trading Fees

JRE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

JRE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.11% 380.00% 25.47%

JRE - Distributions

Dividend Yield Analysis

JRE Category Low Category High JRE % Rank
Dividend Yield 0.94% 0.00% 20.32% 46.13%

Dividend Distribution Analysis

JRE Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Quarterly Monthly Monthly

Net Income Ratio Analysis

JRE Category Low Category High JRE % Rank
Net Income Ratio N/A -1.14% 6.05% 20.56%

Capital Gain Distribution Analysis

JRE Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

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JRE - Fund Manager Analysis

Managers

Daniel Greenberger


Start Date

Tenure

Tenure Rank

Jun 22, 2021

0.94

0.9%

Daniel Greenberger is a Portfolio Manager on the Global Property Equities Team at Janus Henderson Investors, a position he has held since 2017. Prior to joining Janus Henderson, Mr. Greenberger was co-founder and managing director from 2014 at Citrine Investment Group, where he designed and managed the firm’s value-oriented long/short real estate investment strategy. As vice president at GEM Realty Capital, he focused on listed property companies for their securities fund. He joined GEM in 2008 as a financial analyst and was a member of their investment team during his six years with the firm.

Greg Kuhl


Start Date

Tenure

Tenure Rank

Jun 22, 2021

0.94

0.9%

"Greg Kuhl is a Portfolio Manager, Global Property Equities at Janus Henderson Investors and is responsible for co-managing the Global Real Estate strategy. Prior to joining Henderson in 2015, Greg was vice president, global REITs at Brookfield Investment Management, where he was a senior analyst for global long-only and global long/short strategies focused on property equities across North America, Europe, and Asia. Before this, he was an analyst on the public real estate securities team at Heitman providing recommendations on property equities in North America. He began his career at Accenture as a financial services/capital markets analyst. Greg received a BBA degree in finance with a concentration in psychology from the University of Notre Dame, graduating cum laude. He holds the Chartered Financial Analyst designation and has 14 years of financial industry experience."

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 28.42 7.92 2.23