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For Individual Investors in the US

JRSDX Adaptive Risk Managed U.S. Equity Fund

A large-cap core equity portfolio of stocks that have the potential for less downside volatility and greater growth or upside volatility, as implied by forward-looking options market prices.

Buy/Trade

NAV
$11.78
As of 02/21/2025

1-Day Change
-$0.20 (-1.67%)
 As of 02/21/2025

YTD Return
1.90%
As of 02/21/2025

Overview

ABOUT THIS FUND

U.S. large-cap equity portfolio that seeks to deliver more attractive returns with lower absolute volatility than the Index over a market cycle. Our systematic investment process utilizes forward-looking signals from options markets designed to identify individual stocks with less downside volatility that appear poised for greater growth or upside volatility.

WHY INVEST IN THIS FUND

  • Attractive: This diversified, U.S. large-cap portfolio targets more attractive returns with lower absolute volatility over a market cycle.
  • Objective: Our systematic investment process uses forward-looking signals from highly liquid options markets designed to identify individual stocks with less downside volatility that appear poised for greater growth or upside volatility.
  • Adaptive: Changes in the market-implied forecasts of good risk versus bad risk will trigger rebalancing while maintaining diversification in an effort to provide more consistent returns over time.

Knowledge Shared

knowledge shared

At Janus Henderson, we believe in the sharing of expert insight for better investment and business decisions. We call this ethos Knowledge Shared.

View Our Insights

Portfolio Management

Ashwin Alankar, Ph.D.

Head of Global Asset Allocation | Portfolio Manager

Industry since 2001. Joined Firm in 2014.

Performance

RETURNS (%) (As of 12/31/2024)
Adaptive Risk Managed U.S. Equity Fund - D Shares Russell 1000® Index S&P 500 Minimum Volatility TR Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/2006)
Adaptive Risk Managed U.S. Equity Fund - D Shares 2.56 23.69 23.69 6.96 10.56 10.20 8.66
Russell 1000® Index 2.75 24.51 24.51 8.41 14.27 12.87 10.61
S&P 500 Minimum Volatility TR Index -1.45 18.94 18.94 5.44 9.65 10.87 9.76
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 01/31/2025)
Adaptive Risk Managed U.S. Equity Fund - D Shares Russell 1000® Index S&P 500 Minimum Volatility TR Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(01/01/2006)
Adaptive Risk Managed U.S. Equity Fund - D Shares 6.77 2.85 25.79 10.87 10.67 10.43 8.78
Russell 1000® Index 6.76 3.18 26.71 11.68 14.96 13.54 10.74
S&P 500 Minimum Volatility TR Index 2.71 2.63 18.62 8.18 10.15 11.24 9.86
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 (%)
Adaptive Risk Managed U.S. Equity Fund - D Shares Russell 1000® Index
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Adaptive Risk Managed U.S. Equity Fund - D Shares 23.69 15.19 -14.10 19.71 12.80 23.60 -3.60 20.35 7.95 3.24
Russell 1000® Index 24.51 26.53 -19.13 26.45 20.96 31.43 -4.78 21.69 12.05 0.92
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.

Growth of a Hypothetical Investment

U.S. Managed Volatility Fund - D Shares Russell 1000® Index S&P 500 Minimum Volatility TR Index Large Blend
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). Fund performance is on a Net Asset Value (NAV) basis with net income reinvested where applicable.

Returns-Based Statistics (As of 01/31/2025 Class D Shares)

RISK / REWARD
VS. Russell 1000 TR Index		 3YR 5YR
Information Ratio -0.17 -0.72
Alpha 0.02 -2.78
Tracking Error 4.24 5.18
Beta 0.88 0.91
R-squared (%) 94.32 91.87
UP/DOWN MARKET CAPTURE (%)
Russell 1000 TR Index		 3YR 5YR
Up Capture Ratio 86.31 83.64
Down Capture Ratio 89.23 97.45
STANDARD DEVIATION 3YR 5YR
Adaptive Risk Managed U.S. Equity Fund 15.72 17.72
Russell 1000 TR Index 17.28 18.65
SHARPE RATIO 3YR 5YR
Adaptive Risk Managed U.S. Equity Fund 0.41 0.45
Russell 1000 TR Index 0.42 0.65
Annual Fees & Expenses (As of the most recent prospectus)
CLASS D SHARES
Management Fees 0.50%
Other Expenses 0.20%
Total Gross Expenses 0.70%
Waivers 0.00%
Total Net Expenses 0.70%

Net expense ratios reflect the expense waiver, if any, contractually agreed to for a two-year period commencing on June 10, 2022. This contractual waiver may be terminated or modified only at the discretion of the Portfolio's Board of Trustees.

Portfolio

Index represents the Russell 1000® Index.

Top Holdings (As of 01/31/2025)
% of Fund
Apple Inc 7.82
Microsoft Corp 5.46
NVIDIA Corp 5.24
Alphabet Inc 4.64
Amazon.com Inc 3.90
JPMorgan Chase & Co 2.79
Meta Platforms Inc 2.65
Berkshire Hathaway Inc 2.35
Salesforce Inc 2.33
UnitedHealth Group Inc 2.27
TOTAL 39.45
View full holdings
Portfolio Characteristics (As of 01/31/2025)
  FUND INDEX
Number of Holdings
Equity Issues		 101 1007
Market Capitalization
Weighted Average		 $999.50B $912.25B
Portfolio Turnover Rate
(1-year trailing)		 120.66% -
Price/Earnings Ratio
(1-year forward)		 22.74 21.78
Price/Book Ratio
 5.33 4.72
Earnings Growth Rate
(1-year forward)		 13.46% 16.53%
Sector Allocation % of Fund % of Index % of Fund % of Index As of 01/31/2025
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 January 31, 2025
Developed vs Emerging Markets % of Fund % of Index % of Fund % of Index As of January 31, 2025
Market Capitalization Range of Equity Holdings % of Fund % of Index % of Fund % of Index As of 01/31/2025

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
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