Janus High-Yield Fund (JAHYX)

Core High-Yield Fixed Income

SHARE CLASS

FUND FACTS (JAHYX)

Inception Date12/29/1995
NAV (As of 7/29/15 )$8.52
Total Net Assets (As of 6/30/15)$2.11B
Annual Expense Ratio
(As of fiscal year end 6/30/14)
GROSS 0.87%
NET 0.87%

Yields

Distribution Yield at NAV (As of 6/30/15)

5.88%
30 Day SEC Yield (As of 6/30/15)
with waivers
without waivers

5.57%
5.57%
Distribution FrequencyMonthly
Performance (As of 6/30/15)
1 Year-1.38%
3 Year6.16%
5 Year8.02%
10 Year7.09%
Morningstar (As of 6/30/15)
CategoryHigh Yield Bond
Overall Rating™
(Based on risk-adjusted returns)

View All Ratings

611 Funds Rated
Analyst Rating
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.

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 11/1/15.

Quarterly Commentary - Q2 2015

EXECUTIVE SUMMARY

Outperformance was driven by a combination of security selection, yield-curve positioning and asset allocation across the portfolio.

In keeping with our focus on risk-adjusted returns, we have assumed a more defensive positioning given uneven economic progress, uncertainty on rate hikes and illiquidity.

Given our cautious stance, the Fund currently favors higher-quality issuers with robust balance sheets.

FUND MANAGEMENT

Gibson Smith

Gibson Smith

Fund Manager since 2003
Industry since 1991

Darrell Watters

Darrell Watters

Fund Manager since 2008
Industry since 1986