Janus Aspen Flexible Bond Portfolio (JAFLX)
20+ Years of All-Weather, Credit-Driven Fixed Income Investing

SHARE CLASS

PORTFOLIO FACTS (JAFLX)

Inception Date9/13/1993
NAV (As of 2/27/15 )$12.13
Total Net Assets (As of 1/31/15)$596.99M
Annual Expense Ratio
(As of fiscal year end 12/31/13)
GROSS 0.56%
NET 0.56%

Performance (As of 12/31/14)
1 Year4.94%
3 Year4.32%
5 Year5.52%
10 Year5.98%
Morningstar (As of 1/31/15)
CategoryIntermediate-Term 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.

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 5/1/15.

PERFORMANCE View Time Period:
As of 2/27/15As of 1/31/15As of 12/31/14As of 12/31/14
Inception: Sep 13, 1993
PRICE1 DAY
RETURN

YTD
1 YR3 YR5 YR10 YRSINCE
INCEPTION
Institutional Shares 
$12.130.08%1.25%5.70%4.42%5.61%6.15%7.01%4.94%4.32%5.52%5.98%6.95%4.94%13.53%30.85%78.72%318.04%
Barclays U.S. Aggregate Bond Index1.03%
(02/26/2015)
6.61%3.07%4.57%4.86%5.73%5.97%2.66%4.45%4.71%5.65%5.97%8.20%24.31%58.42%222.13%

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.

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 5/1/15.

Annual Expense Ratio: Gross: 0.56% / Net: 0.56% View Fees and Expenses

RISK STATISTICS
VS. Barclays U.S. Aggregate Bond Index

VIEW RISK STATISTICS DEFINITIONS

Alpha
Compares the risk-adjusted performance of a portfolio to a benchmark index.
Beta
A measure of the volatility of a portfolio in comparison to a benchmark index.
R-Squared
Represents the percentage of the portfolio’s performance that can be explained by the general movements of a benchmark index.
Standard Deviation
Measures historical volatility.
Sharpe Ratio
Measures risk-adjusted performance by dividing the portfolio’s excess returns by the standard deviation of those returns.
Information Ratio
Measure of a portfolio management’s performance against risk and return relative to a benchmark or alternative measure.
PORTFOLIOINDEX
Alpha1.611.51N/AN/A
Beta0.900.891.001.00
R-Squared (%)90.3577.45100.00100.00
Standard Deviation2.712.782.852.75
Sharpe Ratio1.612.001.061.64
Information Ratio1.520.78----

Statistics are for the Portfolio’s “parent” share class (typically that with the longest history).

MORNINGSTAR PERCENTILE View Time Period:
As of 12/31/14As of 1/31/15
1 YR3 YR5 YR10 YRSINCE
INCEPTION
Percentile Ranking (%)56222141652224N/A1
Intermediate-Term Bond Category
Rank/Count
604 / 1069224 / 1021202 / 95929 / 8514 / 419698 / 1066222 / 1003224 / 937N/A / N/A4 / 417

CALENDAR YEAR PERFORMANCE

GROWTH OF A $10,000 HYPOTHETICAL INVESTMENT

UP AND DOWN MARKET CAPTURE

AS OF 1/31/153 YR UP MARKET
CAPTURE
3 YR DOWN MARKET
CAPTURE
5 YR UP MARKET
CAPTURE
5 YR DOWN MARKET
CAPTURE
Janus Aspen Flexible Bond Portfolio110.04%68.90%109.35%77.82%
Barclays U.S. Aggregate Bond Index100.00%100.00%100.00%100.00%

Statistics are for the Portfolio’s “parent” share class (typically that with the longest history).

ANNUAL FEES & EXPENSES

AS OF FISCAL YEAR END 12/31/2013
INSTITUTIONAL SHARES
Management Fees0.51%
12b-1 FeesN/A
Other Expenses0.05%
Total Gross Expenses0.56%
Waivers0.00%
TOTAL NET EXPENSES0.56%