JSMD – Small/Mid Cap Growth Alpha ETF

A Smart Growth® Philosophy Rooted in 45+ Years of Fundamental Research
NAV As of 09/13/19 $45.03

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Fund Facts

Pricing Data (As of Market Close 09/13/19) Yields and Expenses Fund Details
$45.02 Closing Market Price
$45.10 Bid/Ask Midpoint
$45.64 Day High
$45.02 Day Low
3,366 Trading Volume (Shares)
0.16% Premium/Discount
2.20M Shares Outstanding
0.40% Distribution Yield at NAV
(As of 06/30/19)
30 Day SEC Yield (As of 08/31/19) 0.27%
Quarterly Distribution Frequency
$99.15M Total Net Assets (As of 09/13/19)
GROSS 0.35%
NET 0.35%
Annual Expense Ratio
(As of fiscal year end 10/31/18)
Performance (As of 09/13/19)
$45.03 NAV
(As of 09/13/19)
0.00% NAV 1 Day Return
21.96% NAV Year to Date
02/23/16 Inception Date
47103U209 CUSIP
Category
Morningstar (As of 08/31/2019)
Mid-Cap Growth
JSMDIV Intraday Value (IOPV)
NASDAQ Exchange
JSMDID Index Ticker
Primary Benchmark Janus Henderson Small/Mid Cap Growth Alpha Index
Index Provider Janus Henderson Indices LLC
Creation Unit size is 50,000 shares.

Overview

ETF Objective

Janus Henderson Small/Mid Cap Growth Alpha ETF (JSMD) seeks investment results that correspond generally, before fees and expenses, to the performance of the Janus Henderson Small/Mid Cap Growth Alpha Index.

Client Commitment

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

Why Invest in the Fund

    Smart Growth® Process

  1. A proprietary methodology that evaluates small/mid-cap stocks from a universe of 2,500 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.
  2. Proprietary Fundamental Methodology

  3. Each company is evaluated on 10 fundamental factors to identify those 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.
  4. Seeks Risk-Adjusted Outperformance

  5. Seeks to deliver both risk-adjusted outperformance relative to the asset class and the potential for lower drawdown risk than traditional growth indices by aiming to avoid small companies without solid fundamental businesses.

Enhanced Beta ETF

Innovative strategies that package investing insights — whether that’s a distinctive process or a time-tested philosophy — with the features of an ETF.

Performance

RETURNS

(As of 06/30/2019)
(As of 08/31/2019)
Inception: Feb 23, 2016 3M YTD 1YR 3YR 5YR 10YR Since Inception
NAV 4.66% 22.28% 7.05% 17.80% - - 20.13%
Market Price 4.83% 22.56% 6.98% 17.77% - - 20.11%
Janus Henderson Small/Mid Cap Growth Alpha Index 4.75% 22.50% 7.55% 18.28% 12.18% 17.39% 20.64%
Russell 2500™ Growth Index 4.14% 23.92% 6.13% 16.14% 9.98% 15.67% 18.54%
Inception: Feb 23, 2016 3M YTD 1YR 3YR 5YR 10YR Since Inception
NAV 5.60% 18.49% -6.58% 14.22% - - 18.01%
Market Price 5.50% 18.70% -6.71% 14.19% - - 17.98%
Janus Henderson Small/Mid Cap Growth Alpha Index 5.70% 18.79% -6.18% 14.69% 11.33% 15.86% 18.52%
Russell 2500™ Growth Index 6.35% 22.27% -3.70% 13.16% 9.65% 14.42% 17.13%
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.
Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Eastern time (when NAV is normally determined for most ETFs), and do not represent the returns you would receive if you traded shares at other times. Ordinary brokerage commissions apply and will reduce returns.

RETURNS-BASED STATISTICS

(As of 07/31/19)

RISK / REWARD
VS. RUSSELL 2500™ GROWTH INDEX

3 YEAR 5 YEAR
Information Ratio 0.48 -
Alpha 1.38 -
Tracking Error 3.39 -
Beta 1.01 -
R-Squared (%) 95.93 -

UP AND DOWN MARKET CAPTURE (%)
VS. RUSSELL 2500™ GROWTH INDEX

3 YEAR 5 YEAR
Up Capture Ratio 105.53 -
Down Capture Ratio 99.34 -

STANDARD DEVIATION

3 YEAR 5 YEAR
JSMD – Small/Mid Cap Growth Alpha ETF 16.81 -
Russell 2500™ Growth Index 16.29 15.88

SHARPE RATIO

3 YEAR 5 YEAR
JSMD – Small/Mid Cap Growth Alpha ETF 0.88 -
Russell 2500™ Growth Index 0.80 0.67

FREQUENCY DISTRIBUTION OF PREMIUMS AND DISCOUNTS

Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 13 1 39 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 24.53% 1.89% 73.58% 0.00% 0.00% 0.00%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 22 5 35 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 34.92% 7.94% 55.56% 0.00% 0.00% 0.00%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 24 5 32 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 39.34% 8.20% 52.46% 0.00% 0.00% 0.00%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 18 2 41 1 0 1
Percent of Total Days 0.00% 0.00% 0.00% 28.57% 3.17% 65.08% 1.59% 0.00% 1.59%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 6 20 36 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 9.52% 31.75% 57.14% 0.00% 0.00% 0.00%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 1 21 13 27 0 0 0
Percent of Total Days 0.00% 0.00% 1.56% 32.81% 20.31% 42.19% 0.00% 0.00% 0.00%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 26 10 22 1 0 0
Percent of Total Days 0.00% 0.00% 0.00% 42.62% 16.39% 36.07% 1.64% 0.00% 0.00%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 34 8 17 2 0 0
Percent of Total Days 0.00% 0.00% 0.00% 53.97% 12.70% 26.98% 3.17% 0.00% 0.00%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 1 36 6 14 2 0 4
Percent of Total Days 0.00% 0.00% 1.59% 57.14% 9.52% 22.22% 3.17% 0.00% 6.35%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 24 4 35 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 38.10% 6.35% 55.56% 0.00% 0.00% 0.00%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 10 27 25 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 16.13% 43.55% 40.32% 0.00% 0.00% 0.00%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 4 31 28 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 6.35% 49.21% 44.44% 0.00% 0.00% 0.00%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 7 38 19 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 10.94% 59.38% 29.69% 0.00% 0.00% 0.00%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 1 44 16 0 0 3
Percent of Total Days 0.00% 0.00% 0.00% 1.56% 68.75% 25.00% 0.00% 0.00% 4.69%
Market Price below NAV Market Price equal to NAV Market Price above NAV
Percent of Difference < -1.50 -1.49 to -1.00 -0.99 to -0.50 -0.49 to -0.01 0 0.01 to 0.49 0.50 to 0.99 1.00 to 1.49 > 1.50
Number of Days 0 0 0 0 14 11 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 0.00% 56.00% 44.00% 0.00% 0.00% 0.00%

DISTRIBUTION OVERVIEW

EX-DATE RECORD DATE PAYABLE DATE ORDINARY INCOME SHORT-TERM CAPITAL GAINS LONG-TERM CAPITAL GAINS TOTAL DISTRIBUTION
06/28/2019 07/01/2019 07/05/2019 $0.041866 $0.000000 $0.000000 $0.041866
03/29/2019 04/01/2019 04/04/2019 $0.014657 $0.000000 $0.000000 $0.014657
12/20/2018 12/21/2018 12/27/2018 $0.104245 $0.000000 $0.000000 $0.104245
09/28/2018 10/01/2018 10/04/2018 $0.021892 $0.000000 $0.000000 $0.021892
06/29/2018 07/02/2018 07/06/2018 $0.045306 $0.000000 $0.000000 $0.045306
03/29/2018 04/02/2018 04/05/2018 $0.023581 $0.000000 $0.000000 $0.023581
12/22/2017 12/26/2017 12/29/2017 $0.050469 $0.000000 $0.000000 $0.050469
09/29/2017 10/02/2017 10/05/2017 $0.028954 $0.000000 $0.000000 $0.028954
06/30/2017 07/05/2017 07/07/2017 $0.013634 $0.000000 $0.000000 $0.013634
03/31/2017 04/04/2017 04/06/2017 $0.022360 $0.000000 $0.000000 $0.022360
12/23/2016 12/28/2016 12/30/2016 $0.076622 $0.000000 $0.000000 $0.076622
09/30/2016 10/04/2016 10/06/2016 $0.009572 $0.000000 $0.000000 $0.009572
06/30/2016 07/05/2016 07/07/2016 $0.016506 $0.000000 $0.000000 $0.016506
3/31/2016 4/4/2016 4/6/2016 0.011340 $0.000000 $0.000000 0.011340

Characteristics

Index represents the Russell 2500™ Growth Index.

TOP HOLDINGS

(As of 09/13/2019)

% of Fund
Masimo Corp 2.30
Paycom Software Inc 2.24
Westlake Chemical Corp 2.24
Jazz Pharmaceuticals PLC 2.14
PRA Health Sciences Inc 1.96
Steel Dynamics Inc 1.87
Charles River Laboratories International Inc 1.85
Tyler Technologies Inc 1.80
EPAM Systems Inc 1.79
HEICO Corp 1.71

PORTFOLIO CHARACTERISTICS

(As of 09/13/19)

FUND INDEX
Number of Holdings
Equity Issues
247
-
Market Capitalization
Weighted Average
$5.92B
-
Portfolio Turnover Rate
(1-year trailing)
79.43%
-
Price/Earnings Ratio
(1-year forward)
27.76
-
Price/Book Ratio
(1-year forward)
5.12
-
Earnings Growth Rate
(1-year forward)
-0.76%
-

SECTOR ALLOCATION

(As of 09/13/19)

% OF FUND % OF INDEX
Information Technology 29.45 24.97
Health Care 21.22 22.45
Industrials 20.72 18.00
Consumer Discretionary 11.36 13.88
Financials 5.96 6.34
Materials 4.98 3.71
Consumer Staples 2.62 2.21
Communication Services 1.27 2.87
Real Estate 1.24 4.23
Energy 1.02 0.49
Cash & Equivalents 0.16 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 09/13/2019)

% OF FUND % OF INDEX
$10B to $50B 5.74 10.67
$5B to $10B 54.50 37.03
$1B to $5B 36.80 45.18
$500M to $1B 1.92 4.63
$250M to $500M 0.68 1.92
$100M to $250M 0.20 0.53
Cash & Equivalents 0.16 -

Commentary & Literature