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JMUIX

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Multi-Sector Income Fund

NAV As of 07/15/19 $9.88

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Fund Facts

Details Yields Morningstar (As of 06/30/19)
02/28/14 Inception Date
$1.17B Total Net Assets (As of 06/30/19)
GROSS 0.87%
NET 0.70%
Annual Expense Ratio
(As of fiscal year end 06/30/18)
4.42% Distribution Yield at NAV
(As of 06/30/19)
30 Day SEC Yield (As of 06/30/19)
With Waivers 3.79%
Without Waivers 3.79%
Monthly Distribution Frequency
Performance (As of 07/15/19)
0.11% 1 Day Return %
7.30% YTD Return
Category
Multisector Bond
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303 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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Featured Insights

Performance

RETURNS

(As of 06/30/2019)
(As of 06/30/2019)
Inception: Feb 28, 2014 3M YTD 1YR 3YR 5YR 10YR Since Inception
Multi-Sector Income Fund – I Shares 3.05% 7.11% 7.25% 5.91% 4.70% - 4.97%
Bloomberg Barclays U.S. Aggregate Bond Index 3.08% 6.11% 7.87% 2.31% 2.95% 3.90% 3.12%
Inception: Feb 28, 2014 3M YTD 1YR 3YR 5YR 10YR Since Inception
Multi-Sector Income Fund – I Shares 3.05% 7.11% 7.25% 5.91% 4.70% - 4.97%
Bloomberg Barclays U.S. Aggregate Bond Index 3.08% 6.11% 7.87% 2.31% 2.95% 3.90% 3.12%
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 06/30/2019)
(As of 06/30/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 25 13 6 - 9
Multisector Bond Category
Rank/Count
87/355 54/332 23/288 -/- 26/274
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 25 13 6 - 9
Multisector Bond Category
Rank/Count
87/355 54/332 23/288 -/- 26/274

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 06/30/19 CLASS I SHARES)

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

3 YEAR 5 YEAR
Information Ratio 1.36 0.63
Alpha 5.08 3.56
Tracking Error 2.63 2.79
Beta 0.34 0.38
R-Squared (%) 26.77 21.76

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

3 YEAR 5 YEAR
Up Capture Ratio 97.37 83.94
Down Capture Ratio -25.80 1.17

STANDARD DEVIATION

3 YEAR 5 YEAR
Multi-Sector Income Fund 2.02 2.39
Bloomberg Barclays U.S. Aggregate Bond Index 3.03 2.94

SHARPE RATIO

3 YEAR 5 YEAR
Multi-Sector Income Fund 2.26 1.61
Bloomberg Barclays U.S. Aggregate Bond Index 0.32 0.72

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

Index represents the Bloomberg Barclays U.S. Aggregate Bond Index.

TOP HOLDINGS

(As of 06/30/2019)

% of Fund
Fannie Mae or Freddie Mac, 3.50%, 07/18/19 2.60
Fannie Mae Pool, 3.50%, 02/01/57 1.10
Bank of America Corp, 2.15%, 11/09/20 0.88
Stericycle Inc, 5.38%, 07/15/24 0.86
Freeport-McMoRan Inc, 3.55%, 03/01/22 0.83
Freddie Mac Gold Pool, 4.00%, 05/01/49 0.81
Fannie Mae or Freddie Mac, 4.00%, 07/15/19 0.79
Jack In The Box Funding LLC, 3.98%, 08/25/49 0.68
CommScope Inc, 8.25%, 03/01/27 0.65
Ginnie Mae, 5.00%, 07/22/19 0.65
TOTAL 9.85

PORTFOLIO CHARACTERISTICS

(As of 06/30/19)

FUND INDEX
Number of Holdings
Debt Issues
456
10481
Portfolio Turnover Rate
(1-year trailing)
101.64%
-
Weighted Average Maturity
(years)
5.42
12.87
Effective Duration
(years)
3.67
5.69

DEVELOPED VS. EMERGING MARKET

(As of 06/30/19)

% OF FUND % OF INDEX
U.S. 86.65 91.72
Non-U.S. Developed 11.85 5.28
Non-U.S. Emerging 1.32 1.60
Cash & Equivalents 0.18 -

CREDIT QUALITY OF FIXED INCOME HOLDINGS

(As of 06/30/19)

% OF FUND % OF INDEX
Aaa 14.87 72.03
Aa 0.13 3.48
A 2.33 10.81
Baa 17.32 13.68
Ba 15.48 -
B 14.79 -
Caa 4.65 -
NOT RATED 29.67 -
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 06/30/19)

% OF FUND % OF INDEX
US Preferred Stock 0.35 -
US Common Stock 0.23 -
Futures 33.16 -
Credit-High Yield 22.70 -
ABS 16.58 0.48
Credit-Investment Grade 11.57 25.11
MBS 11.56 26.75
Bank Loans 8.06 -
CMO 3.03 -
CMBS 0.82 2.00
Non-US Collateralized 0.37 0.03
Credit Default Swap -1.70 -
Short Futures -6.91 -
Cash & Equivalents 0.18 -

MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS

(As of 06/30/19)

% OF FUND % OF INDEX
< 1 yr 1.06 0.82
1 - 3 yrs 27.09 21.01
3 - 5 yrs 32.59 14.95
5 - 7 yrs 19.58 10.28
7 - 10 yrs 12.60 10.19
10 - 20 yrs 2.63 7.58
> 20 yrs 3.11 35.17
N/A 0.58 -

REGIONAL ALLOCATION

(As of 06/30/19)

% OF FUND % OF INDEX
North America 94.15 92.89
Europe 4.30 3.33
Africa/Mideast 0.69 0.05
Latin America 0.37 1.06
Asia/Pacific Ex Japan 0.31 0.73
Cash & Equivalents 0.18 -

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