Janus Real Return Fund (JURTX)

Fixed Income Focused on Inflation Protection

SHARE CLASS

FUND FACTS (JURTX)

Inception Date5/13/2011
NAV (As of 3/22/17)$9.43
Total Net Assets (As of 2/28/17)$20.45M
Annual Expense Ratio
(As of fiscal year end 6/30/16)
GROSS 1.75%
NET 0.66%

Morningstar Fee Level
(As of 2/28/17)
Fee Level Group
(out of 118 funds)
High-Yield Bond No Load

Yields

Distribution Yield at NAV (As of 2/28/17)

3.43%
30 Day SEC Yield (As of 2/28/17)
with waivers
without waivers

2.90%
1.37%
Distribution FrequencyMonthly
Performance (As of 12/31/16)
1 Year4.64%
3 Year2.44%
5 Year2.94%
Since Inception1.68%
Morningstar (As of 2/28/17)
CategoryUS Fund High Yield Bond
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.

Data as of 2/28/17. Index represents the Bloomberg Barclays U.S. 1-5 Year TIPS Index.

TOP HOLDINGS (% of Fund)

United States Treasury Bill , 0.00%, 04/06/2017 4.06
US TSY INFL BOND .125 07/15/26 , 0.12%, 07/15/2026 2.98
Meritage Homes Corp , 4.50%, 03/01/2018 2.38
Tenet Healthcare Corp , 6.25%, 11/01/2018 2.18
Altice Financing SA , 6.50%, 01/15/2022 2.14
Nielsen Co Luxembourg SARL , 5.50%, 10/01/2021 1.89
MGM Resorts International , 5.25%, 03/31/2020 1.85
Ally Financial Inc , 3.25%, 02/13/2018 1.83
Post Holdings Inc , 6.75%, 12/01/2021 1.76
Michaels Stores Inc , 5.88%, 12/15/2020 1.74
TOTAL22.81

CHARACTERISTICS

Number of Holdings
Debt Issues

101
Portfolio Turnover Rate
(1-year trailing)

13.88%
Weighted Average Maturity
(years)

4.01
Effective Duration
(years)

2.36
Weighted Average Coupon5.11%

SECTOR ALLOCATION (% of Fund)

US Preferred Stock 0.17
Credit-High Yield 66.34
Credit-Investment Grade 19.65
Treasuries 6.24
Inflation Linked 2.98
CMBS 1.31
Bank Loans 0.86
ABS 0.61
Convertibles 0.21
Cash & Equivalents 1.63

MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS  (% of Fund)

< 1 yr 12.13
1 - 3 yrs 29.54
3 - 5 yrs 32.15
5 - 7 yrs 12.85
7 - 10 yrs 8.13
10 - 20 yrs 2.52
> 20 yrs 0.67
N/A 0.21

CREDIT QUALITY OF FIXED INCOME HOLDINGS (% of Fund)

Aaa 9.21
A 1.50
Baa 18.76
Ba 47.34
B 14.34
Caa 4.83
NOT RATED 2.22

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).

DEVELOPED VS. EMERGING MARKET EXPOSURE (% of Fund)

U.S. 86.88
Non-U.S. Developed 10.20
Non-U.S. Emerging 1.29
Cash & Equivalents 1.63

REGIONS (% of Fund)

North America 86.89
Europe 9.84
Latin America 1.14
Africa/Mideast 0.50
Cash & Equivalents 1.63

Equity country, regional, sector and industry weights based on MSCI and GICS classifications. Fixed income country, regional, sector and industry weights based on Barclays classifications.