Fund Notice

The Board of Trustees of Janus Detroit Street Trust, on behalf of the Janus Henderson Small Cap Growth Alpha ETF (the “Fund”), has approved changes to the Fund’s investment objective and principal strategies. The Fund will transition from a passive, index-based approach to an active, systematic strategy that selects small-cap growth stocks using a proprietary quantitative methodology. Going forward, the Fund will seek long-term capital growth and, under normal circumstances, will invest at least 80% of its net assets in small-cap equity securities chosen for their growth potential. These changes will take effect on or around May 12, 2025.

About this ETF

A small-cap growth ETF leveraging a rigorous fundamental-based process for selecting stocks based upon Janus Henderson’s more than 45 year history in bottom-up equity research. The ETF seeks to invest in resilient growth companies with proven operational excellence to provide investors with the opportunity to experience the long-term growth potential of the small-cap asset class through a variety of market environments.

Why Invest in this ETF

Smart Growth® Process
A proprietary methodology that evaluates small-cap stocks from a universe of 2,000, in three key areas: growth, profitability and capital efficiency. The Smart Growth® process systematically identifies companies that may be poised for long-run sustainable growth.

Proprietary Fundamental Methodology
Each stock is evaluated on 10 fundamental factors to identify companies that can exhibit durable growth. Growth measures include revenue growth rate; profitability measures include operating profit and earnings per-share; and capital efficiency measures include return on invested capital. The portfolio seeks to invest in the top-tier of eligible stocks.

Seeks Risk-Adjusted Outperformance
Not only designed for risk-adjusted outperformance relative to the asset class, but also includes the potential for lower draw down risk than traditional growth indices, by aiming to avoid small companies without solid fundamental businesses.