Janus Diversified Alternatives Fund (JDAIX)

Diversified Liquid Alternative Fund Seeking Absolute Returns



Inception Date12/28/2012
NAV (As of 4/27/17)$10.23
Total Net Assets (As of 3/31/17)$71.08M
Annual Expense Ratio
(As of fiscal year end 6/30/16)
GROSS 1.40%
NET 1.26%

Morningstar Fee Level
(As of 3/31/17)
Fee Level Group
(out of 438 funds)
Alternative Institutional

Performance (As of 3/31/17)
1 Year4.59%
3 Year2.88%
Since Inception1.35%
Morningstar (As of 3/31/17)
CategoryUS Fund Multialternative
Overall Rating™
(Based on risk-adjusted returns)

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243 Funds Rated

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. For the most recent month-end performance click here.

Returns greater than one year are annualized.

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 11/1/17.

Client Commitment

This liquid alternative fund seeks absolute returns with "true diversification" from stocks and bonds. It invests in a portfolio of eleven return drivers distilled from equities, fixed income, currencies and commodities. Our risk allocation methodology combines these risk premia baskets with the goal that no one basket dominates overall risk.

Why Invest in the Fund


A portfolio of traditional and non-traditional investable risk factors distilled from traditional asset classes, each a type of risk premium. 


A risk premia-based fund managed utilizing a risk allocation methodology that produces a liquid portfolio seeking to deliver consistent, absolute returns with low correlation to stocks and bonds.


Targets "true diversification" from traditional equity and fixed income markets. Seeks to reduce overall portfolio volatility through diversification while also contributing absolute returns.


A True Alternative: Seeks to be a Diversifier and Driver of Returns
Fund (Class I Shares) and Morningstar Category average correlations and volatility relative to the MSCI All Country World Index (3 Years: 4/1/14 - 3/31/17)
Percentile Ranking chart

Source: Morningstar, Inc.
Relative volatility measures the ratio of standard deviation relative to the standard deviation of the MSCI All Country World Index. Since equities pose the predominant risk in traditional portfolios, this global equity index is used as an indicator of equity risk in order to determine how well an alternative strategy diversifies away from this risk.
3 year Correlation of Janus Diversified Alternatives Fund to the Bloomberg Barclays U.S. Aggregate Bond Index is 0.30.
3 year Relative volatility of Janus Diversified Alternatives Fund versus the Bloomberg Barclays U.S. Aggregate Bond Index is 1.63.
Past performance is no guarantee of future results.


John Fujiwara

John Fujiwara

Fund Manager since 2012
Industry since 1987

Ashwin Alankar, Ph.D.

Ashwin Alankar, Ph.D.

Fund Manager since 2014
Industry since 2001


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