Janus High-Yield Fund (JAHYX)

Core High-Yield Fixed Income

SHARE CLASS

FUND FACTS (JAHYX)

Inception Date12/29/1995
NAV (As of 1/19/17)$8.51
Total Net Assets (As of 12/31/16)$2.01B
Annual Expense Ratio
(As of fiscal year end 6/30/16)
GROSS 0.87%
NET 0.87%

Yields

Distribution Yield at NAV (As of 12/31/16)

6.28%
30 Day SEC Yield (As of 12/31/16)
with waivers
without waivers

5.40%
5.40%
Distribution FrequencyMonthly
Performance (As of 12/31/16)
1 Year12.82%
3 Year3.85%
5 Year6.56%
10 Year6.57%
Morningstar (As of 12/31/16)
CategoryUS Fund High Yield Bond
Overall Rating™
(Based on risk-adjusted returns)

View All Ratings

602 Funds Rated
Fixed Income
Style Box

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.

Quarterly Commentary - Q4 2016

EXECUTIVE SUMMARY

The Fund outperformed its benchmark in the fourth quarter of 2016.

Outperformance was driven by our security selection in highyield corporate credit.

We are cautiously optimistic for high yield in the coming year. Yet we are closely watching the ability for corporate spreads to hold near current levels in a rising-rate environment.

FUND MANAGEMENT

Darrell Watters

Darrell Watters

Fund Manager since 2008
Industry since 1986

Seth Meyer, CFA

Seth Meyer, CFA

Fund Manager since 2015
Industry since 1998