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

HFADX Developed World Bond Fund

Investing across a wide range of fixed income securities, the Fund seeks income and total return while actively managing duration and credit exposure

Buy/Trade

NAV
$7.72
As of 11/04/2024

1-Day Change
$0.02 (0.26%)
 As of 11/04/2024

YTD Return
0.75%
As of 11/04/2024

Morningstar Medalist Rating ™

Silver Morningstar Analyst Rating
As of 10/25/2024

Overview

ABOUT THIS FUND

A world bond fund focusing on developed markets that seeks total return through current income and capital appreciation. The Fund makes strategic asset allocation decisions between countries, fixed income asset classes, sectors and credit ratings.

WHY INVEST IN THIS FUND

Active Asset Allocation Approach
We believe asset allocation is the primary driver of returns. Specifically, we actively manage the Fund’s duration position and credit exposure based on where we believe we are in the economic cycle.

Designed for Attractive Total Return
The Fund’s flexibility allows it to source return from a wide range of global fixed income securities. In addition, we favor sensible income from large, non-cyclical businesses that are likely to continue paying their coupons in the years to come.

Aims to Exploit Opportunities
We believe divergent central bank policy has created an opportunity for us to exploit market inefficiencies. The portfolio seeks to take advantage of these opportunities across developed markets and to avoid currency bets.

Portfolio Management

Jenna Barnard, CFA
Jenna Barnard, CFA

Co-Head of Global Bonds | Portfolio Manager

Industry since 2001. Joined Firm in 2002.

John Pattullo, ASIP
John Pattullo, ASIP

Co-Head of Global Bonds | Portfolio Manager

Industry since 1993. Joined Firm in 1997.

Nicholas Ware
Nicholas Ware

Portfolio Manager

Industry since 1998. Joined Firm in 2009.

Performance

RETURNS (%) (As of 09/30/2024)
Developed World Bond Fund - Class D Shares Bloomberg Global Aggregate Credit Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/30/2003)
Developed World Bond Fund - Class D Shares 5.79 3.51 12.34 -3.11 -0.17 2.47 3.99
Bloomberg Global Aggregate Credit Index 4.85 5.09 12.71 -0.67 1.02 2.78 3.91
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 D Shares that includes periods prior to 6/5/17 reflects the performance of a share class of 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 09/30/2024)
Developed World Bond Fund - Class D Shares Bloomberg Global Aggregate Credit Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(09/30/2003)
Developed World Bond Fund - Class D Shares 5.79 3.51 12.34 -3.11 -0.17 2.47 3.99
Bloomberg Global Aggregate Credit Index 4.85 5.09 12.71 -0.67 1.02 2.78 3.91
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 D Shares that includes periods prior to 6/5/17 reflects the performance of a share class of 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 (%)
Developed World Bond Fund - Class D Shares Bloomberg Global Aggregate Credit Index
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Developed World Bond Fund - Class D Shares 6.30 -16.53 -0.74 9.45 9.58 0.55 5.90 5.92 1.74 5.61
Bloomberg Global Aggregate Credit Index 8.68 -14.22 -0.95 7.78 11.85 -0.47 5.36 5.69 -0.13 7.49
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 D Shares that includes periods prior to 6/5/17 reflects the performance of a share class of 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-Based Statistics (As of 09/30/2024 Class D Shares)

RISK / REWARD
VS. Bloomberg Global Aggregate Credit TR Hdg USD		 3YR 5YR
Information Ratio -0.72 -0.39
Alpha -1.31 -0.89
Tracking Error 3.25 2.75
Beta 1.22 1.11
R-squared (%) 91.29 89.66
UP/DOWN MARKET CAPTURE (%)
Bloomberg Global Aggregate Credit TR Hdg USD		 3YR 5YR
Up Capture Ratio 113.35 103.92
Down Capture Ratio 129.04 114.77
STANDARD DEVIATION 3YR 5YR
Developed World Bond Fund 9.63 8.23
Bloomberg Global Aggregate Credit TR Hdg USD 7.64 7.10
SHARPE RATIO 3YR 5YR
Developed World Bond Fund -0.67 -0.29
Bloomberg Global Aggregate Credit TR Hdg USD -0.55 -0.18
Annual Fees & Expenses (As of the most recent prospectus)
CLASS D SHARES
Management Fees 0.53%
Other Expenses 0.25%
Total Gross Expenses 0.78%
Waivers -0.10%
Total Net Expenses 0.68%
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 Bloomberg Barclays Global Aggregate Credit Index (USD Hedged).

Top Holdings (As of 09/30/2024)
% of Fund
Canadian Government Bond, 3.00%, 06/01/34 3.03
Australia Government Bond, 2.75%, 05/21/41 2.58
Sweden Government Bond, 0.12%, 05/12/31 2.40
Netherlands Government Bond, 0.50%, 07/15/32 2.16
New Zealand Government Bond, 1.50%, 05/15/31 1.77
Microsoft Corp, 2.52%, 06/01/50 1.72
Canadian Government Bond, 1.50%, 06/01/31 1.71
European Union, 3.00%, 12/04/34 1.24
New Zealand Government Bond, 3.00%, 04/20/29 1.22
NatWest Group PLC, 7.47%, 11/10/26 1.19
TOTAL 19.02
View full holdings
Portfolio Characteristics (As of 09/30/2024)
 
Number of Holdings
Debt Issues		 211
Portfolio Turnover Rate
(1-year trailing)		 40.28%
Weighted Average Maturity
(years)		 7.30
Effective Duration
(years)		 8.57
Yield to Worst
 4.17%
Sector Allocation % of Fund % of Fund As of 09/30/2024
Fixed Income country and/or regional weights primarily based on Bloomberg classifications.
Regional Allocation % of Fund % of Fund As of September 30, 2024
Credit Quality of Fixed Income Holdings % of Fund % of Fund As of September 30, 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 Fund As of 09/30/2024

Documents

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