Janus High-Yield Fund (JAHYX)
Core High-Yield Fixed Income

SHARE CLASS

FUND FACTS (JAHYX)

Inception Date12/29/1995
NAV (As of 4/17/15 )$8.69
Total Net Assets (As of 3/31/15)$2.18B
Annual Expense Ratio
(As of fiscal year end 6/30/14)
GROSS 0.87%
NET 0.87%

Yields

Distribution Yield at NAV (As of 3/31/15)

5.48%
30 Day SEC Yield (As of 3/31/15)
with waivers
without waivers

5.77%
5.77%
Distribution FrequencyMonthly
Performance (As of 3/31/15)
1 Year0.12%
3 Year6.36%
5 Year7.86%
10 Year7.32%
Morningstar (As of 3/31/15)
CategoryHigh Yield Bond
Overall Rating™
(Based on risk-adjusted returns)

View All Ratings

595 Funds Rated
Analyst RatingBronze
Equity
Style Box
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 - Q1 2015

EXECUTIVE SUMMARY

Outperformance was driven largely by our security selection in a variety of sectors.

In keeping with our focus on risk-adjusted returns,we have assumed a more defensive positioning given the uncertainty around the Federal Reserve’s anticipated rate hike and a volatile energy market.

The Fund has increased its focus on companies with consistent cash-flow generation while cutting individual security concentration.

FUND MANAGEMENT

Gibson Smith

Fund Manager since 2003
Industry since 1991

Darrell Watters

Fund Manager since 2008
Industry since 1986