JSML – Small Cap Growth Alpha ETF

A Smart Growth® Philosophy Rooted in 45+ Years of Fundamental Research
NAV As of 12/14/18 $37.26

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Fund Facts

Pricing Data (As of Market Close 12/14/18) Yields and Expenses Fund Details
$37.20 Closing Market Price
$37.33 Bid/Ask Midpoint
$37.56 Day High
$37.20 Day Low
10,538 Trading Volume (Shares)
0.19% Premium/Discount
0.65M Shares Outstanding
0.51% Distribution Yield at NAV
(As of 09/30/18)
30 Day SEC Yield (As of 11/30/18) 0.19%
Quarterly Distribution Frequency
$24.30M Total Net Assets (As of 12/14/18)
GROSS 0.35%
NET 0.35%
Annual Expense Ratio
(As of fiscal year end 10/31/18)
Performance (As of 12/14/18)
$37.26 NAV
(As of 12/14/18)
-1.71% NAV 1 Day Return
2.30% NAV Year to Date
02/23/16 Inception Date
47103U100 CUSIP
Category
Morningstar (As of 11/30/2018)
Small Growth
JSMLIV Intraday Value (IOPV)
NASDAQ Exchange
JSMLID Index Ticker
Primary Benchmark Janus Small Cap Growth Alpha Index
Index Provider Janus Index & Calculation Services LLC
Creation Unit size is 50,000 shares.

Overview

ETF Objective

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

Client Commitment

A small-cap growth ETF that systematically identifies Smart Growth® companies utilizing a process based on Janus Henderson’s 45+ years of fundamental research. The strategy seeks to provide risk-adjusted outperformance by identifying top-tier small-cap companies with some of the strongest fundamentals that we believe can deliver sustainable growth in a variety of market environments.

Why Invest in the Fund

  1. Systematic Smart Growth® Process

  2. Disciplined process evaluates key fundamental factors such as growth, profitability, and capital efficiency that we believe more accurately identify companies poised for long-run sustainable growth – or Smart Growth®.
  3. Time-Tested Architecture

  4. Proprietary investment methodology built upon Janus Henderson’s 45+ year foundation of bottom-up fundamental equity research and a legacy of small and mid-cap growth investing.
  5. Seeks Risk-Adjusted Outperformance

  6. The strategy seeks risk-adjusted outperformance relative to the asset class by investing in resilient growth companies that have proven operational excellence and represent the top 10% of the eligible universe.

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 09/30/2018)
(As of 11/30/2018)
Inception: Feb 23, 2016 3M YTD 1YR 3YR 5YR 10YR Since Inception
NAV 11.31% 24.48% 29.85% - - - 26.69%
Market Price 11.21% 24.66% 29.82% - - - 26.68%
Janus Small Cap Growth Alpha Index 11.28% 24.38% 29.68% 19.37% 13.94% 15.81% 26.94%
Russell 2000® Growth Index 5.52% 15.76% 21.06% 17.98% 12.14% 12.65% 25.81%
Inception: Feb 23, 2016 3M YTD 1YR 3YR 5YR 10YR Since Inception
NAV -12.69% 11.28% 11.65% - - - 19.94%
Market Price -12.89% 11.27% 11.46% - - - 19.87%
Janus Small Cap Growth Alpha Index -12.61% 11.26% 11.65% 12.22% 9.79% 18.08% 20.19%
Russell 2000® Growth Index -13.36% 2.69% 2.81% 9.97% 8.22% 15.55% 18.83%
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.

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 34 5 13 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 64.15% 9.43% 24.53% 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 5 13 45 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 7.94% 20.63% 71.43% 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 34 9 16 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 53.13% 14.06% 25.00% 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 48 2 10 0 0 0
Percent of Total Days 0.00% 0.00% 1.64% 78.69% 3.28% 16.39% 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 8 27 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 28.57% 12.70% 42.86% 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 14 11 36 0 0 0
Percent of Total Days 0.00% 0.00% 1.59% 22.22% 17.46% 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 0 23 2 32 1 2 3
Percent of Total Days 0.00% 0.00% 0.00% 36.51% 3.17% 50.79% 1.59% 3.17% 4.76%
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 9 14 39 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 14.52% 22.58% 62.90% 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 28 31 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 6.35% 44.44% 49.21% 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 2 29 33 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 3.13% 45.31% 51.56% 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 5 24 32 0 0 3
Percent of Total Days 0.00% 0.00% 0.00% 7.81% 37.50% 50.00% 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 2 15 8 0 0 0
Percent of Total Days 0.00% 0.00% 0.00% 8.00% 60.00% 32.00% 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
09/28/2018 10/01/2018 10/04/2018 $0.020142 $0.000000 $0.000000 $0.020142
06/29/2018 07/02/2018 07/06/2018 $0.068661 $0.000000 $0.000000 $0.068661
03/29/2018 04/02/2018 04/05/2018 $0.071035 $0.000000 $0.000000 $0.071035
12/22/2017 12/26/2017 12/29/2017 $0.073494 $0.000000 $0.000000 $0.073494
09/29/2017 10/02/2017 10/05/2017 $0.045562 $0.000000 $0.000000 $0.045562
06/30/2017 07/05/2017 07/07/2017 $0.006761 $0.000000 $0.000000 $0.006761
03/31/2017 04/04/2017 04/06/2017 $0.026757 $0.000000 $0.000000 $0.026757
12/23/2016 12/28/2016 12/30/2016 $0.138694 $0.000000 $0.000000 $0.138694
09/30/2016 10/04/2016 10/06/2016 $0.000000 $0.000000 $0.000000 $0.000000
06/30/2016 07/05/2016 07/07/2016 $0.015242 $0.000000 $0.000000 $0.015242
3/31/2016 04/04/2016 04/06/2016 $0.006184 $0.000000 $0.000000 $0.006184

Characteristics

Index represents the Russell 2000® Growth Index.

TOP HOLDINGS

(As of 12/13/2018)

% of Fund
Ubiquiti Networks Inc 4.61
Etsy Inc 4.23
Trade Desk Inc 3.23
AMN Healthcare Services Inc 3.05
NuVasive Inc 3.00
Glaukos Corp 2.48
HEICO Corp 2.47
Paylocity Holding Corp 2.25
Qualys Inc 2.10
Cargurus Inc 2.09

PORTFOLIO CHARACTERISTICS

(As of 12/13/18)

FUND INDEX
Number of Holdings
Equity Issues
199
-
Market Capitalization
Weighted Average
$2.99B
-
Portfolio Turnover Rate
(1-year trailing)
79.86%
-
Price/Earnings Ratio
(1-year forward)
25.53
-
Price/Book Ratio
(1-year forward)
5.93
-
Earnings Growth Rate
(1-year forward)
20.36%
-

SECTOR ALLOCATION

(As of 12/13/18)

% OF FUND % OF INDEX
Information Technology 25.50 17.72
Health Care 23.36 26.99
Industrials 15.33 17.59
Consumer Discretionary 14.96 14.50
Financials 7.86 7.46
Communication Services 5.68 3.63
Materials 3.67 3.29
Real Estate 2.04 3.11
Consumer Staples 1.21 3.18
Energy 0.27 1.87
Cash & Equivalents 0.12 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 12/13/2018)

% OF FUND % OF INDEX
$10B to $50B 1.95 0.12
$5B to $10B 14.57 4.99
$1B to $5B 67.00 77.38
$500M to $1B 11.89 11.77
$250M to $500M 3.71 4.08
$100M to $250M 0.65 1.39
Under $100M 0.11 0.12
Cash & Equivalents 0.12 -

Commentary & Literature