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

JSCOX Small Cap Value Fund

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

NAV
$22.63
As of 12/20/2024

1-Day Change
$0.10 (0.44%)
 As of 12/20/2024

YTD Return
5.90%
As of 12/20/2024

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

Justin Tugman, CFA
Justin Tugman, CFA

Portfolio Manager

Industry since 2000. Joined Firm in 2004.

Craig Kempler, CFA
Craig Kempler, CFA

Portfolio Manager

Industry since 2001. Joined Firm in 2005.

Performance

RETURNS (%) (As of 09/30/2024)
Small Cap Value Fund - I Shares Russell 2000® Value Index
 
3M YTD 1YR 3YR 5YR 10YR
Small Cap Value Fund - I Shares 6.50 9.80 24.35 6.32 6.54 7.67
Russell 2000® Value Index 10.15 9.22 25.88 3.77 9.29 8.22
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.

RETURNS (%) (As of 11/30/2024)
Small Cap Value Fund - I Shares Russell 2000® Value Index
 
3M YTD 1YR 3YR 5YR 10YR
Small Cap Value Fund - I Shares 6.60 17.18 29.82 8.15 7.11 7.81
Russell 2000® Value Index 8.00 17.88 32.55 6.35 9.93 8.37
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.

Calendar Year Returns (%)
Small Cap Value Fund - I Shares Russell 2000® Value Index
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Small Cap Value Fund - I Shares 13.26 -9.84 22.72 -6.76 26.11 -13.04 12.81 26.45 -2.56 7.42
Russell 2000® Value Index 14.65 -14.48 28.27 4.63 22.39 -12.86 7.84 31.74 -7.47 4.22
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.

Morningstar Percentile

 (As of 09/30/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 41 48 96 63 80
Small Value | Rank/Count 204/479 185/457 424/439 256/395 298/374
 (As of 11/30/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 56 59 96 72 83
Small Value | Rank / Count 295/494 266/476 452/466 305/419 316/386

Growth of a Hypothetical Investment

Russell 2000® Value Index Small 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 11/30/2024 Class I Shares)

RISK / REWARD
VS. Russell 2000 Value TR USD		 3YR 5YR
Information Ratio 0.36 -0.39
Alpha 1.75 -1.86
Tracking Error 4.65 6.52
Beta 0.89 0.85
R-squared (%) 96.39 94.44
UP/DOWN MARKET CAPTURE (%)
Russell 2000 Value TR USD		 3YR 5YR
Up Capture Ratio 91.19 80.16
Down Capture Ratio 90.13 91.99
STANDARD DEVIATION 3YR 5YR
Small Cap Value Fund 21.19 22.22
Russell 2000 Value TR USD 23.28 25.34
SHARPE RATIO 3YR 5YR
Small Cap Value Fund 0.19 0.20
Russell 2000 Value TR USD 0.10 0.29
Annual Fees & Expenses (As of the most recent prospectus)
CLASS I SHARES
Management Fees 0.94%
Other Expenses 0.73%
Total Gross Expenses 1.67%
Waivers -0.38%
Total Net Expenses 1.29%
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 2000® Value Index.

Top Holdings (As of 11/30/2024)
% of Fund
Axis Capital Holdings Ltd 2.70
Ameris Bancorp 2.64
Fulton Financial Corp 2.53
Hanover Insurance Group Inc 2.29
Cushman & Wakefield PLC 2.26
Kirby Corp 2.22
Commercial Metals Co 2.20
Chord Energy Corp 2.13
Eastern Bankshares Inc 2.12
STAG Industrial Inc 2.05
TOTAL 23.14
View full holdings
Portfolio Characteristics (As of 11/30/2024)
  FUND INDEX
Number of Holdings
Equity Issues		 79 1426
Market Capitalization
Weighted Average		 $4.54B $2.87B
Portfolio Turnover Rate
(1-year trailing)		 37.22% -
Price/Earnings Ratio
(1-year forward)		 15.03 13.99
Price/Book Ratio
 1.74 1.38
Earnings Growth Rate
(1-year forward)		 16.59% 18.95%
Sector Allocation % of Fund % of Index % of Fund % of Index As of 11/30/2024
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 11/30/2024
Developed vs Emerging Markets % of Fund % of Index % of Fund % of Index As of 11/30/2024
Market Capitalization Range of Equity Holdings % of Fund % of Index % of Fund % of Index As of 11/30/2024

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Global Perspectives: Can momentum in small caps continue?
Sep 26, 2024
Features & Outlooks

Global Perspectives: Can momentum in small caps continue?

The factors driving momentum in small-cap equities and our view on what’s ahead.

23 min read

U.S. small caps: Is the tide turning?
Aug 28, 2024
Timely & Topical

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.

6 min read

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