Janus Real Return Fund (JURTX)

Fixed Income Focused on Inflation Protection

SHARE CLASS

FUND FACTS (JURTX)

Inception Date5/13/2011
NAV (As of 2/22/17)$9.48
Total Net Assets (As of 1/31/17)$20.15M
Annual Expense Ratio
(As of fiscal year end 6/30/16)
GROSS 1.75%
NET 0.66%

Morningstar Fee Level
(As of 1/31/17)
Fee Level Group
(out of 120 funds)
High-Yield Bond No Load

Yields

Distribution Yield at NAV (As of 1/31/17)

3.22%
30 Day SEC Yield (As of 1/31/17)
with waivers
without waivers

2.99%
1.75%
Distribution FrequencyMonthly
Performance (As of 12/31/16)
1 Year4.64%
3 Year2.44%
5 Year2.94%
Since Inception1.68%
Morningstar (As of 1/31/17)
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 1/31/17. 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 4.11
US TSY INFL BOND .125 07/15/26 , 0.12%, 07/15/2026 3.01
Meritage Homes Corp , 4.50%, 03/01/2018 2.41
Tenet Healthcare Corp , 6.25%, 11/01/2018 2.19
Altice Financing SA , 6.50%, 01/15/2022 2.16
Nielsen Co Luxembourg SARL , 5.50%, 10/01/2021 1.90
Ally Financial Inc , 3.25%, 02/13/2018 1.88
MGM Resorts International , 5.25%, 03/31/2020 1.87
Michaels Stores Inc , 5.88%, 12/15/2020 1.76
Post Holdings Inc , 6.75%, 12/01/2021 1.75
TOTAL23.04

CHARACTERISTICS

Number of Holdings
Debt Issues

99
Portfolio Turnover Rate
(1-year trailing)

15.87%
Weighted Average Maturity
(years)

4.02
Effective Duration
(years)

2.44
Weighted Average Coupon5.17%

SECTOR ALLOCATION (% of Fund)

US Preferred Stock 0.17
Credit-High Yield 67.49
Credit-Investment Grade 18.89
Treasuries 6.33
Inflation Linked 3.01
CMBS 1.34
Bank Loans 0.83
ABS 0.62
Convertibles 0.22
Cash & Equivalents 1.10

MATURITY BREAKDOWN OF FIXED INCOME HOLDINGS  (% of Fund)

< 1 yr 11.00
1 - 3 yrs 29.83
3 - 5 yrs 34.35
5 - 7 yrs 12.19
7 - 10 yrs 8.15
10 - 20 yrs 0.85
> 20 yrs 2.36

CREDIT QUALITY OF FIXED INCOME HOLDINGS (% of Fund)

Aaa 9.34
A 1.51
Baa 18.01
Ba 47.27
B 15.49
Caa 4.87
NOT RATED 2.24

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. 88.34
Non-U.S. Developed 9.27
Non-U.S. Emerging 1.29
Cash & Equivalents 1.10

REGIONS (% of Fund)

North America 88.33
Europe 9.41
Latin America 1.16
Cash & Equivalents 1.10

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.