Please ensure Javascript is enabled for purposes of website accessibility Flexible Bond Fund - Janus Henderson Investors
For Institutional Investors in the US

JFLEX Flexible Bond Fund

A flexible core plus fixed income portfolio that leverages a research-driven investment process in seeking to identify the best opportunities across fixed income sectors

View Institutional Strategy

NAV
$9.17
As of 07/02/2024

1-Day Change
$0.02 (0.23%)
 As of 07/02/2024

YTD Return
-0.64%
As of 07/02/2024

Overview

ABOUT THIS FUND

Using our broad global research capabilities, we strive to exploit fixed income market inefficiencies by building a structural foundation that we believe serves as a better starting point than traditional benchmarks. We aim to generate outperformance through sector rotation and security selection and by seeking to take the right amount of risk at each point in the cycle.

WHY INVEST IN THIS FUND

Our Team: Culture of collaboration, global integration and respectful challenge with a research-first mentality

Disciplined Risk Budgeting: Disciplined investment process targets repeatable performance utilizing our structural foundation as a better starting point

High Conviction: Bottom-up idea generation across a diverse set of return sources, incorporating dynamic allocation through market cycles

COMPETITIVE RISK-ADJUSTED RETURNS

10-Year Risk/Reward – Fund vs. Index and Peers as of 3/31/24

Flexible Bond Fund | Competitive risk-adjusted returns Chart Q1 2024

PORTFOLIO MANAGEMENT

Greg Wilensky, CFA

Greg Wilensky, CFA

Head of U.S. Fixed Income | Portfolio Manager

Industry since 1993. Joined Firm in 2020.

Michael Keough

Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

John Lloyd

John Lloyd

Lead, Multi-Sector Credit Strategies | Portfolio Manager

Industry since 1998. Joined Firm in 2005.

Performance

RETURNS (%) (As of 03/31/2024)
Flexible Bond Fund - I Shares Bloomberg U.S. Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(07/07/1987)
Flexible Bond Fund - I Shares -0.51 -0.51 2.26 -2.30 1.23 1.77 5.75
Bloomberg U.S. Aggregate Bond Index -0.78 -0.78 1.70 -2.45 0.36 1.54 5.39
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.
Performance for Class I Shares that includes periods prior to 7/6/09 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

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

RETURNS (%) (As of 05/31/2024)
Flexible Bond Fund - I Shares Bloomberg U.S. Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(07/07/1987)
Flexible Bond Fund - I Shares 0.17 -1.38 1.91 -3.00 0.77 1.47 5.70
Bloomberg U.S. Aggregate Bond Index 0.04 -1.64 1.31 -3.10 -0.17 1.26 5.34
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.
Performance for Class I Shares that includes periods prior to 7/6/09 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

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

Calendar Year Returns (%)
Flexible Bond Fund - I Shares Bloomberg U.S. Aggregate Bond Index
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Flexible Bond Fund - I Shares 5.89 -13.66 -0.78 10.88 9.56 -0.87 3.62 2.65 0.11 4.93
Bloomberg U.S. Aggregate Bond Index 5.53 -13.01 -1.54 7.51 8.72 0.01 3.54 2.65 0.55 5.97

MORNINGSTAR PERCENTILE

(As Of 06/30/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 45 52 22 45 18
Intermediate Core-Plus Bond | Rank/Count 255/569 229/522 89/505 172/426 18/89
(As Of 06/30/2024)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 45 52 22 45 24
Intermediate Core-Plus Bond | Rank / Count 255/569 229/522 89/505 172/426 19/89

RETURNS-BASED STATISTICS (As of 04/30/2024 Class I Shares)

RISK / REWARD
VS. Bloomberg U.S. Aggregate Bond TR Index		 3YR 5YR
Information Ratio -0.08 0.41
Alpha 0.15 0.90
Tracking Error 0.93 1.82
Beta 1.03 1.06
R-squared (%) 98.59 93.13
UP/DOWN MARKET CAPTURE (%)
VS. Bloomberg U.S. Aggregate Bond TR Index		 3YR 5YR
Up Capture Ratio 102.57 116.67
Down Capture Ratio 102.07 105.40
STANDARD DEVIATION 3YR 5YR
Flexible Bond Fund 7.60 6.82
Bloomberg U.S. Aggregate Bond TR Index 7.30 6.21
SHARPE RATIO 3YR 5YR
Flexible Bond Fund -0.82 -0.20
Bloomberg U.S. Aggregate Bond TR Index -0.84 -0.34
ANNUAL FEES & EXPENSES (As of the most recent prospectus)
CLASS I SHARES
Management Fees 0.41%
Other Expenses 0.12%
Total Gross Expenses 0.53%
Waivers -0.08%
Total Net Expenses 0.45%
Net expense ratios reflect the expense waiver, if any, contractually agreed to for at least a one-year period commencing on October 27, 2023. This contractual waiver may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

Index represents the Bloomberg Barclays U.S. Aggregate Bond Index.

Top Holdings (As of 05/31/2024)
% of Fund
United States Treasury Note/Bond, 4.38%, 05/15/34 4.25
United States Treasury Note/Bond, 4.50%, 05/31/29 1.90
Fannie Mae Pool, 2.50%, 02/01/52 0.74
Cadence Design Systems Inc, 4.38%, 10/15/24 0.71
Ginnie Mae, 2.50%, 06/20/24 0.66
Ginnie Mae II Pool, 3.00%, 08/20/51 0.65
Centene Corp, 4.25%, 12/15/27 0.64
Foundry JV Holdco LLC, 5.88%, 01/25/34 0.62
CBRE Services Inc, 5.95%, 08/15/34 0.62
CF Hippolyta Issuer LLC, 6.11%, 08/15/62 0.62
TOTAL 11.41
View full holdings
Portfolio Characteristics (As of 05/31/2024)
  FUND INDEX
Number of Holdings
Debt Issues		 622 13541
Portfolio Turnover Rate
(1-year trailing)		 159.90% -
Weighted Average Maturity
(years)		 6.66 12.58
Effective Duration
(years)		 6.48 6.09
Yield to Worst
 5.75% 5.11%
Sector Allocation % of Fund % of Index % of Fund % of Index As of 05/31/2024
Fixed Income country and/or regional weights primarily based on Bloomberg classifications.
Regional Allocation % of Fund % of Index % of Fund % of Index As of May 31, 2024
Developed vs Emerging Markets % of Fund % of Index % of Fund % of Index As of May 31, 2024
Credit Quality of Fixed Income Holdings % of Fund % of Index % of Fund % of Index As of May 31, 2024
Credit quality ratings reflect the middle rating received from Moody’s, Standard & Poor’s and Fitch, where all three agencies have provided a rating. If only two agencies rate a security, the lowest rating is used. If only one agency rates a security, that rating is used. Ratings are measured on a scale that ranges from Aaa (highest) to D (lowest).
Maturity Breakdown of Fixed Income Holdings % of Fund % of Index % of Fund % of Index As of 05/31/2024

Documents

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