Please ensure Javascript is enabled for purposes of website accessibility Mid Cap Value Fund - Janus Henderson Investors - US Advisor
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For Financial Professionals in the US

JMVAX Mid Cap Value Fund

Defensive-minded specialists aiming to identify undervalued mid-cap opportunities

NAV
$15.94
As of 01/17/2025

1-Day Change
$0.06 (0.38%)
 As of 01/17/2025

YTD Return
3.24%
As of 01/17/2025

Morningstar Medalist Rating ™

Bronze Morningstar Analyst Rating
As of 11/27/2024

Overview

ABOUT THIS FUND

As defensive value specialists, we look to invest in high-quality companies with strong management teams, stable balance sheets, and durable competitive advantages that are trading at attractive valuations. We seek to achieve excess returns over full market cycles, with less risk than our benchmark and peers as measured by standard deviation, beta and down market capture.

WHY INVEST IN THIS FUND

Attractive Reward/Risk
Our disciplined valuation process measures downside risk before upside potential and invests in securities with favorable reward/risk ratios.

High-Conviction Process
The portfolio typically holds between 60 to 90 stocks with business fundamentals considered more important than fluctuations in the wider economy.

Different Than the Benchmark
The benchmark is not used as a starting point for portfolio construction, which should lead to high active share.

Portfolio Management

Kevin Preloger
Kevin Preloger

Portfolio Manager

Industry since 1997. Joined Firm in 2002.

Justin Tugman, CFA
Justin Tugman, CFA

Portfolio Manager

Industry since 2000. Joined Firm in 2004.

Performance

RETURNS (%) (As of 12/31/2024)
Mid Cap Value Fund - I Shares Russell Midcap® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(08/12/1998)
Mid Cap Value Fund - I Shares -2.69 13.23 13.23 6.20 7.17 7.63 10.55
Russell Midcap® Value Index -1.75 13.07 13.07 3.88 8.59 8.10 9.39
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Mutual fund performance for some periods may incorporate returns from older share classes, adjusted for fees and expenses. Visit janushenderson.com/synthetic for specific details.
RETURNS (%) (As of 12/31/2024)
Mid Cap Value Fund - I Shares Russell Midcap® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(08/12/1998)
Mid Cap Value Fund - I Shares -2.69 13.23 13.23 6.20 7.17 7.63 10.55
Russell Midcap® Value Index -1.75 13.07 13.07 3.88 8.59 8.10 9.39
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Mutual fund performance for some periods may incorporate returns from older share classes, adjusted for fees and expenses. Visit janushenderson.com/synthetic for specific details.
Calendar Year Returns (%)
Mid Cap Value Fund - I Shares Russell Midcap® Value Index
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Mid Cap Value Fund - I Shares 13.23 11.42 -5.04 19.60 -1.32 30.37 -13.20 13.99 18.86 -3.72
Russell Midcap® Value Index 13.07 12.71 -12.03 28.34 4.96 27.06 -12.29 13.34 20.00 -4.78
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Mutual fund performance for some periods may incorporate returns from older share classes, adjusted for fees and expenses. Visit janushenderson.com/synthetic for specific details.

Morningstar Percentile

 (As of 12/31/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 32 30 81 62 14
Mid-Cap Value | Rank/Count 128/432 87/410 312/396 208/351 15/68
 (As of 12/31/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 32 30 81 62 14
Mid-Cap Value | Rank / Count 128/432 87/410 312/396 208/351 15/68

Growth of a Hypothetical Investment

Mid Cap Value Fund - I Shares Russell Midcap® Value Index Mid-Cap Value
Source: Morningstar, Inc.
This graph compares the performance of a hypothetical $1 investment in the fund, the fund’s Morningstar category average and its benchmark(s).

Returns-Based Statistics (As of 12/31/2024 Class I Shares)

RISK / REWARD
VS. Russell Mid Cap Value TR USD		 3YR 5YR
Information Ratio 0.66 -0.30
Alpha 2.07 -0.85
Tracking Error 3.38 4.35
Beta 0.91 0.88
R-squared (%) 97.67 96.87
UP/DOWN MARKET CAPTURE (%)
Russell Mid Cap Value TR USD		 3YR 5YR
Up Capture Ratio 93.19 85.06
Down Capture Ratio 89.33 92.37
STANDARD DEVIATION 3YR 5YR
Mid Cap Value Fund 18.44 19.95
Russell Mid Cap Value TR USD 20.05 22.20
SHARPE RATIO 3YR 5YR
Mid Cap Value Fund 0.11 0.23
Russell Mid Cap Value TR USD -0.01 0.27
Annual Fees & Expenses (As of the most recent prospectus)
CLASS I SHARES
Management Fees 0.61%
Other Expenses 0.13%
Total Gross Expenses 0.74%
Waivers 0.00%
Total Net Expenses 0.74%
Net expense ratios reflect the expense waiver, if any, contractually agreed to for at least a one-year period commencing on October 28, 2024. This contractual waiver may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

Index represents the Russell Midcap® Value Index.

Top Holdings (As of 12/31/2024)
% of Fund
Entergy Corp 3.01
Expand Energy Corp 2.84
Alliant Energy Corp 2.75
Casey's General Stores Inc 2.66
Fox Corp 2.20
Freeport-McMoRan Inc 2.07
Wintrust Financial Corp 2.01
Agree Realty Corp 1.99
Lamar Advertising Co 1.87
Hartford Financial Services Group Inc 1.87
TOTAL 23.27
View full holdings
Portfolio Characteristics (As of 12/31/2024)
  FUND INDEX
Number of Holdings
Equity Issues		 73 711
Market Capitalization
Weighted Average		 $23.55B $24.11B
Portfolio Turnover Rate
(1-year trailing)		 35.07% -
Price/Earnings Ratio
(1-year forward)		 15.89 15.68
Price/Book Ratio
 2.32 2.32
Earnings Growth Rate
(1-year forward)		 16.65% 13.12%
Sector Allocation % of Fund % of Index % of Fund % of Index As of 12/31/2024
Equity country, regional, sector and industry weights primarily based on MSCI and GICS classifications.
Regional Allocation % of Fund % of Index % of Fund % of Index As of 12/31/2024
Developed vs Emerging Markets % of Fund % of Index % of Fund % of Index As of 12/31/2024
Market Capitalization Range of Equity Holdings % of Fund % of Index % of Fund % of Index As of 12/31/2024

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Global Perspectives: Can momentum in small caps continue?
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Global Perspectives: Can momentum in small caps continue?

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U.S. small caps: Is the tide turning?

Why we could be witnessing the early stages of a change in market leadership between U.S. small cap and large cap stocks.

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