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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

$60.23

$217 M

0.35%

$0.21

0.30%

Vitals

YTD Return

2.2%

1 yr return

16.8%

3 Yr Avg Return

-2.3%

5 Yr Avg Return

7.9%

Net Assets

$217 M

Holdings in Top 10

27.0%

52 WEEK LOW AND HIGH

$60.4
$47.39
$60.48

Expenses

OPERATING FEES

Expense Ratio 0.30%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 135.00%

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

$60.23

$217 M

0.35%

$0.21

0.30%

JSML - Profile

Distributions

  • YTD Total Return 2.2%
  • 3 Yr Annualized Total Return -2.3%
  • 5 Yr Annualized Total Return 7.9%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.48%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Janus Henderson Small Cap Growth Alpha ETF
  • Fund Family Name
    Janus Henderson Funds
  • Inception Date
    Feb 23, 2016
  • Shares Outstanding
    1752000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Scott Weiner

Fund Description

The Fund pursues its investment objective by normally investing at least 80% of its net assets (plus any borrowings for investment purposes) in the securities that comprise the Janus Henderson Small Cap Growth Alpha Index (“Underlying Index”).

The Underlying Index is composed of common stocks of small-sized companies that are included in the Solactive Small Cap Index, a universe of 2,000 small-sized capitalization stocks. The Solactive Small Cap Index uses the total public market value, or “free-float,” capitalization of a stock to determine whether to include such stock in the Solactive Small Cap Index. The Underlying Index is designed to select small-sized capitalization stocks that are poised for “smart growth” by evaluating each company’s performance in three critical areas: growth, profitability, and capital efficiency. Using a proprietary quantitative methodology, such stocks are scored based on fundamental measures of their growth, profitability, and capital efficiency, and the top 10% of such eligible stocks scoring the highest become the constituents of the Underlying Index. To arrive at

the top 10%, for each security in the stated universe, the quantitative methodology assigns a score in each of 10 different fundamental factors, relative to other eligible securities. The fundamental factors include measures that the Adviser believes are tied to a stock’s outperformance relative to other small cap stocks, and indicate a company’s performance with respect to growth (such as the revenue growth rate over 2-, 5- and 8- year periods), profitability (such as margin expansion, profit margin and earnings per share over time) and capital efficiency (such as returns on invested capital). The scores for each stock within a factor are then added together across the 10 factors, with equal weighting, to arrive at an overall score for each stock. The stocks with the highest 10% of scores are then weighted within the Underlying Index according to their market capitalization. Finally, the stocks are sector-weighted to reflect the sector allocation weight of Janus Henderson Venture Fund, based on its most recent publicly available holdings. A stock may not represent more than 3% of the Underlying Index. The Underlying Index seeks risk adjusted outperformance relative to a market capitalization weighted universe of small-sized capitalization growth stocks. Market capitalizations within the Underlying Index will vary, but as of October 31, 2023, they ranged from approximately $24 million to $9.02 billion. The Underlying Index is rebalanced on a quarterly basis based on the methodology described above.

The Fund uses a “passive,” index-based approach in seeking performance that corresponds to the performance of the Underlying Index. The Fund generally will use a replication methodology, meaning it will invest in the securities composing the Underlying Index in proportion to the weightings in the Underlying Index. However, the Fund may utilize a sampling methodology under various circumstances in which it may not be possible or practicable to purchase all of the securities in the Underlying Index.

The Adviser expects that over time, if the Fund has sufficient assets, the correlation between the Fund’s performance, before fees and expenses, and that of the Underlying Index will be 95% or better. A figure of 100% would indicate perfect correlation.

The Fund may also invest in investments that are not included in the Underlying Index, but which the Adviser believes will help the Fund track the Underlying Index. Such investments include stocks, shares of other investment companies, cash and cash equivalents, including affiliated or non-affiliated money market funds (or unregistered cash management pooled investment vehicles that operate as money market funds).

To the extent the Underlying Index concentrates (i.e., holds 25% or more of its total assets) in the securities of a particular industry or group of industries, the Fund will concentrate its investments to approximately the same extent as the Underlying Index. As of October 31, 2023, the Underlying Index did not concentrate in a particular industry or group of industries. For more recent information, see the Fund’s daily portfolio holdings posted on the exchange-traded fund (“ETF”) portion of the Janus Henderson website.

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.

The Underlying Index is compiled and administered by Janus Henderson Indices LLC (“JH Indices” or the “Index Provider”). JH Indices is affiliated with the Fund and the Adviser.

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JSML - Performance

Return Ranking - Trailing

Period JSML Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -6.7% 25.4% 88.77%
1 Yr 16.8% 2.0% 51.5% 47.14%
3 Yr -2.3%* -22.5% 59.9% 56.28%
5 Yr 7.9%* -3.6% 45.0% 45.44%
10 Yr N/A* 1.7% 24.7% 46.15%

* Annualized

Return Ranking - Calendar

Period JSML Return Category Return Low Category Return High Rank in Category (%)
2023 29.4% -20.5% 54.6% 3.58%
2022 -29.9% -82.1% 32.2% 52.09%
2021 2.6% -90.6% 300.1% 25.27%
2020 34.9% -63.0% 127.9% 31.88%
2019 32.1% -7.7% 42.9% 8.61%

Total Return Ranking - Trailing

Period JSML Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -6.7% 25.4% 88.77%
1 Yr 16.8% 2.0% 51.5% 47.14%
3 Yr -2.3%* -22.5% 59.9% 56.28%
5 Yr 7.9%* -3.6% 45.0% 45.44%
10 Yr N/A* 1.7% 24.7% N/A

* Annualized

Total Return Ranking - Calendar

Period JSML Return Category Return Low Category Return High Rank in Category (%)
2023 30.1% -19.0% 136.8% 3.58%
2022 -29.4% -59.9% 44.3% 62.43%
2021 3.1% -22.7% 411.9% 79.49%
2020 35.4% 1.5% 150.8% 57.31%
2019 32.5% 5.5% 55.3% 38.16%

JSML - Holdings

Concentration Analysis

JSML Category Low Category High JSML % Rank
Net Assets 217 M 207 K 34.3 B 73.62%
Number of Holdings 205 7 1180 14.62%
Net Assets in Top 10 52.5 M 52.5 K 2.83 B 72.73%
Weighting of Top 10 27.02% 7.1% 100.1% 34.64%

Top 10 Holdings

  1. Doximity, Inc., Class A 3.27%
  2. Amkor Technology, Inc. 3.17%
  3. Progyny, Inc. 3.12%
  4. Core Main, Inc., Class A 3.06%
  5. AMN Healthcare Services, Inc. 2.89%
  6. Amphastar Pharmaceuticals, Inc. 2.65%
  7. Allegro MicroSystems, Inc. 2.56%
  8. Janus Henderson Cash Collateral Fund LLC 2.23%
  9. Alpha Metallurgical Resources, Inc. 2.21%
  10. Franklin Electric Co., Inc. 1.86%

Asset Allocation

Weighting Return Low Return High JSML % Rank
Stocks
99.97% 77.88% 108.99% 7.13%
Cash
2.80% 0.00% 26.25% 34.76%
Preferred Stocks
0.00% 0.00% 3.53% 97.33%
Other
0.00% -0.22% 5.89% 93.58%
Convertible Bonds
0.00% 0.00% 1.57% 96.79%
Bonds
0.00% 0.00% 3.22% 96.79%

Stock Sector Breakdown

Weighting Return Low Return High JSML % Rank
Technology
30.52% 2.91% 75.51% 18.00%
Healthcare
21.90% 0.00% 47.90% 54.01%
Industrials
17.88% 0.00% 36.64% 40.29%
Consumer Cyclical
9.22% 0.00% 24.04% 83.78%
Basic Materials
8.07% 0.00% 9.24% 0.89%
Financial Services
5.76% 0.00% 42.95% 62.75%
Communication Services
2.21% 0.00% 15.31% 54.55%
Consumer Defense
2.19% 0.00% 13.56% 82.00%
Real Estate
2.11% 0.00% 15.31% 49.38%
Utilities
0.15% 0.00% 5.57% 31.91%
Energy
0.00% 0.00% 55.49% 99.29%

Stock Geographic Breakdown

Weighting Return Low Return High JSML % Rank
US
99.97% 30.27% 102.09% 7.13%
Non US
0.00% 0.00% 61.74% 96.97%

JSML - Expenses

Operational Fees

JSML Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.30% 0.05% 23.20% 97.68%
Management Fee 0.30% 0.05% 1.62% 4.46%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

JSML Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

JSML 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.

JSML Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 135.00% 3.00% 439.00% 94.07%

JSML - Distributions

Dividend Yield Analysis

JSML Category Low Category High JSML % Rank
Dividend Yield 0.35% 0.00% 6.91% 10.70%

Dividend Distribution Analysis

JSML Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Annual Annual

Net Income Ratio Analysis

JSML Category Low Category High JSML % Rank
Net Income Ratio 0.48% -2.47% 1.10% 2.89%

Capital Gain Distribution Analysis

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

Distributions History

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JSML - Fund Manager Analysis

Managers

Scott Weiner


Start Date

Tenure

Tenure Rank

Feb 23, 2016

6.27

6.3%

Scott M. Weiner, DPhil, . He is a is Co-Portfolio Manager and Portfolio Manager. Mr. Weiner joined Janus Capital in November 2014 following Janus Capital’s acquisition of VelocityShares, LLC. Prior to joining Janus Capital, Mr. Weiner was Managing Director at VelocityShares, LLC from 2011 to 2014, and Managing Director and U.S. Head of Equity Derivatives and Quantitative Strategy at Deutsche Bank from 2005 to 2010. He holds a Finance degree from the Wharton School of the University of Pennsylvania, a Master’s degree in Economics from the University of Oxford, and also received his Doctorate in Economics from the University of Oxford.

Benjamin Wang


Start Date

Tenure

Tenure Rank

Feb 23, 2016

6.27

6.3%

Benjamin Wang, CFA, joined Janus Capital in November 2014 following Janus Capital’s acquisition of VelocityShares, LLC. Prior to joining Janus Capital, Mr. Wang was Vice President at VelocityShares, LLC from 2012 to 2014, and an execution trader at Goldman Sachs Asset Management from 2007 to 2011. He holds a Bachelor of Science degree and a Master of Engineering in Computer Science from the Massachusetts Institute of Technology, and a Master of Science degree in Financial Engineering from Columbia University. Mr. Wang holds the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.44 9.02 5.25