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JMUIX

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Multi-Sector Income Fund

NAV As of 01/15/19 $9.52

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Fund Facts

Details Yields Morningstar (As of 12/31/18)
02/28/14 Inception Date
$612.79M Total Net Assets (As of 12/31/18)
GROSS 0.87%
NET 0.70%
Annual Expense Ratio
(As of fiscal year end 06/30/18)
4.90% Distribution Yield at NAV
(As of 12/31/18)
30 Day SEC Yield (As of 12/31/18)
With Waivers 4.45%
Without Waivers 4.41%
Monthly Distribution Frequency
Performance (As of 01/15/19)
0.12% 1 Day Return %
1.02% YTD Return
Category
Multisector Bond
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292 Funds Rated
Overall Rating
(Based on risk-adjusted returns)
HIGH LIMITED
HIGH MODERATE
HIGH EXTENSIVE
MEDIUM LIMITED
MEDIUM MODERATE
MEDIUM EXTENSIVE
LOW LIMITED
LOW MODERATE
LOW EXTENSIVE
Fixed Income Style Box *
Important Morningstar Information

Overview

In Your Portfolio
InYourPortfolio-Diversified-Fixed-Income
With its exposure to higher yielding opportunities, the Fund may serve to complement and diversify a core fixed income allocation. It may be suitable for investors looking for a consistent monthly income stream.
Our Approach
IDENTIFY BEST RISK-ADJUSTED OPPORTUNITIES
Leverages a bottom-up, fundamental, actively managed approach across U.S. fixed income
RISK MANAGEMENT
Risk management is fully integrated into the process, with deep, real-time insight gleaned from our proprietary portfolio and risk management system, Quantum Global.
What We Have Achieved
HIGH, CONSISTENT INCOME WITH
Less interest rate sensitivity than a core bond strategy
Less credit sensitivity than a dedicated high yield bond strategy

Essentials: Multi-Sector Income Fund | Janus Henderson Investors

Essentials: Multi-Sector Income Fund

Learn how we target high, consistent monthly income for investors.

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A Record of Regular Distributions

Monthly Distribution Yield – Class I Shares (4/30/14 – 12/31/18)

Featured Insights

Performance

RETURNS

(As of 12/31/2018)
(As of 12/31/2018)
Inception: Feb 28, 2014 3M YTD 1YR 3YR 5YR 10YR Since Inception
Multi-Sector Income Fund – I Shares -1.05% 0.63% 0.63% 5.01% - - 4.00%
Bloomberg Barclays U.S. Aggregate Bond Index 1.64% 0.01% 0.01% 2.06% 2.52% 3.48% 2.18%
Inception: Feb 28, 2014 3M YTD 1YR 3YR 5YR 10YR Since Inception
Multi-Sector Income Fund – I Shares -1.05% 0.63% 0.63% 5.01% - - 4.00%
Bloomberg Barclays U.S. Aggregate Bond Index 1.64% 0.01% 0.01% 2.06% 2.52% 3.48% 2.18%
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.
View Fees and Expenses

MORNINGSTAR PERCENTILE

(As of 12/31/2018)
(As of 12/31/2018)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 18 16 - - 6
Multisector Bond Category
Rank/Count
40/337 64/313 -/- -/- 12/269
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 18 16 - - 6
Multisector Bond Category
Rank/Count
40/337 64/313 -/- -/- 12/269

CALENDAR YEAR PERFORMANCE

GROWTH OF A $10,000 HYPOTHETICAL INVESTMENT

Source: Morningstar, Inc.
This graph compares fund performance to that of the fund’s Morningstar category average and benchmark(s).

RETURNS-BASED STATISTICS

(As of 12/31/18 CLASS I SHARES)

RISK / REWARD
VS. BLOOMBERG BARCLAYS U.S. AGGREGATE BOND INDEX

3 YEAR 5 YEAR
Information Ratio 1.03 -
Alpha 4.48 -
Tracking Error 2.87 -
Beta 0.25 -
R-Squared (%) 12.77 -

UP AND DOWN MARKET CAPTURE (%)
VS. BLOOMBERG BARCLAYS U.S. AGGREGATE BOND INDEX

3 YEAR 5 YEAR
Up Capture Ratio 89.92 -
Down Capture Ratio -17.61 -

STANDARD DEVIATION

3 YEAR 5 YEAR
Multi-Sector Income Fund 2.02 -
Bloomberg Barclays U.S. Aggregate Bond Index 2.88 2.79

SHARPE RATIO

3 YEAR 5 YEAR
Multi-Sector Income Fund 1.99 -
Bloomberg Barclays U.S. Aggregate Bond Index 0.37 0.69

ANNUAL FEES & EXPENSES

(As of Fiscal Year End, 06/30/18)

CLASS I SHARES
Management Fees 0.60%
12b-1 Fees -
Other Expenses 0.27%
Total Gross Expenses 0.87%
Waivers -0.17%
Total Net Expenses 0.70%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 11/1/19.

Characteristics

TOP HOLDINGS

(As of 12/31/2018)

% of Fund
United States Treasury Note/Bond, 2.75%, 11/30/20 2.25
United States Treasury Note/Bond, 2.50%, 12/31/20 1.45
Applebee's Funding LLC / IHOP Funding LLC, 4.28%, 09/05/44 1.31
Freddie Mac Gold Pool, 4.50%, 08/01/48 1.07
Ginnie Mae II Pool, 5.00%, 12/20/48 0.88
UBM PLC, 5.75%, 11/03/20 0.75
Fannie Mae Pool, 3.50%, 02/01/57 0.73
Banco La Hipotecaria SA, 5.50%, 09/15/23 0.72
Sequoia Mortgage Trust 2018-8, 0.35%, 11/25/48 0.72
MDC Holdings Inc, 5.50%, 01/15/24 0.72
TOTAL 10.60

PORTFOLIO CHARACTERISTICS

(As of 12/31/18)

FUND INDEX
Number of Holdings
Debt Issues
403
10248
Portfolio Turnover Rate
(1-year trailing)
97.12%
-
Weighted Average Maturity
(years)
6.01
8.16
Effective Duration
(years)
3.89
5.83

DEVELOPED VS. EMERGING MARKET

(As of 12/31/18)

% OF FUND % OF INDEX
U.S. 76.72 91.66
Non-U.S. Developed 13.18 5.29
Other 9.21 1.49
Non-U.S. Emerging 0.33 1.56
Cash & Equivalents 0.56 -

CREDIT QUALITY OF FIXED INCOME HOLDINGS

(As of 12/31/18)

% OF FUND % OF INDEX
Aaa 11.34 72.73
Aa 0.26 3.65
A 1.67 10.01
Baa 21.13 13.57
Ba 19.51 0.02
B 13.07 -
Caa 2.77 -
NOT RATED 29.24 0.02
Bond credit quality ratings provided by Barclays and 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).

SECTOR ALLOCATION

(As of 12/31/18)

% OF FUND % OF INDEX
US Preferred Stock 0.36 -
Non-US Common Stock 0.09 -
Futures 22.34 -
Credit-High Yield 19.67 0.02
ABS 18.46 0.52
Credit-Investment Grade 12.13 24.37
Bank Loans 11.46 -
MBS 5.26 28.27
Treasuries 3.97 38.76
CMBS 2.87 1.92
CMO 2.19 -
Credit Default Swap 1.20 -
Convertibles 0.14 -
Short Futures -0.70 -
Cash & Equivalents 0.56 -

MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS

(As of 12/31/18)

% OF FUND % OF INDEX
< 1 yr 3.74 0.70
1 - 3 yrs 23.87 21.70
3 - 5 yrs 23.08 18.58
5 - 7 yrs 27.03 16.55
7 - 10 yrs 10.46 26.82
10 - 20 yrs 7.95 3.47
> 20 yrs 2.72 12.18
N/A 0.14 -

REGIONAL ALLOCATION

(As of 12/31/18)

% OF FUND % OF INDEX
North America 84.89 92.81
Other 9.21 -
Europe 4.01 3.36
Latin America 0.72 1.00
Africa/Mideast 0.50 0.05
Asia/Pacific Ex Japan 0.11 0.75
Cash & Equivalents 0.56 -

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