Janus Henderson Flexible Bond Portfolio
Data updated: 2026-08-26
C000028733 — Janus Henderson Flexible Bond Portfolio. Long Total / Aggregate Bond · $618.85M AUM. Holdings, fees, performance and SEC filings.
C000028733 Fund Overview
Janus Henderson Flexible Bond Portfolio is a US mutual fund managed by Janus Aspen Series, categorised as Long Total / Aggregate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Janus Aspen Series
- Category: Long Total / Aggregate Bond
- Assets under management: $618.85M
- 1-year return: 3.5%
- SEC CIK: 0000906185
- SEC series ID: S000010404
- Share class ID: C000028733
C000028733 Investment Objective and Strategy
Janus Henderson Flexible Bond Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Janus Aspen Series.
Investment objective
Janus Henderson Flexible Bond Portfolio (Flexible Bond Portfolio) seeks to obtain maximum total return, consistent with preservation of capital.
Principal investment strategy
The Portfolio pursues its investment objective by primarily investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in bonds. Bonds include, but are not limited to, government notes and bonds, corporate bonds, commercial and residential mortgage-backed securities, asset-backed securities, credit risk transfer securities (CRTs), and money market instruments. The Portfolio may invest in fixed and floating rate obligations with varying durations. The Portfolios average portfolio duration typically ranges between three and seven years. As of December 31, 2025, the Portfolios average portfolio duration was 5.88 years. The Portfolio will invest at least 65% of its net assets in investment grade debt securities. The Portfolio will limit its investment in high-yield bonds (also known as junk bonds) to 35% or less of its net assets.
The Portfolio generates total return from a combination of current income and capital appreciation, but income is usually the dominant portion. The Portfolio may enter into to be announced or TBA commitments when purchasing mortgage-backed securities or other securities. The Portfolio also invests in securities that have contractual restrictions that prohibit or limit their public resale, which may include Rule 144A securities. The Portfolio may also invest in foreign securities. Due to the nature of the securities in which the Portfolio invests, it may have relatively high portfolio turnover compared to other portfolios. Additionally, the Portfolio may invest its assets in derivatives. Derivative instruments have a value derived from, or directly linked to, an underlying asset, such as fixed-income securities, commodities, currencies, interest rates, or market indices.
In particular, the Portfolio may use futures, including Treasury bond futures, to manage interest rate risk, yield curve positioning, and country exposure. The Portfolio may also use index credit default swaps for hedging purposes (to offset risks associated with an investment exposure, or market conditions), to increase or decrease the Portfolios exposure to a particular market, to manage or adjust the risk profile of the Portfolio relative to its benchmark index, and to earn income, enhance returns, or preserve capital. The Portfolios exposure to derivatives will vary. For purposes of meeting its 80% investment policy, the Portfolio may include derivatives that have characteristics similar to the securities in which the Portfolio may directly invest. The Portfolio may take short positions on derivatives instruments.
Portfolio managements investment process is research-driven, incorporating top-down and bottom-up factors to identify and manage exposure to risks across sectors, industries, and individual investments. Portfolio management evaluates expected risk-adjusted returns on a portfolio and position level by analyzing fundamentals, valuations, and market technical indicators. This research encompasses both traditional fundamental analysis and data driven quantitative models and signals from such models. As part of its investment process, portfolio management considers environmental, social, and governance (ESG) risks and opportunities (ESG Factors) that it believes are financially material, alongside other fundamental investment factors. Examples of potential financially material ESG Factors include: corporate governance, company culture, exposure to climate change, and human capital management.
To assess ESG Factors, portfolio management uses issuer reports, third-party data, and internally-generated analyses and may engage directly with issuers. ESG Factors are one of many considerations in the investment decision-making process, may not be determinative in deciding to include or exclude an investment from the portfolio, and may not be considered for every investment decision. The Portfolio may seek to earn additional income through lending its securities to certain qualified broker-dealers and institutions in an amount equal to up to one-third of its total assets as determined at the time of the loan origination.
C000028733 Holdings
Top 10 holdings of Janus Henderson Flexible Bond Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Janus Henderson Cash Liquidity Fund LLC | 6.93% |
| United States of America | 5.31% |
| United States of America | 5.17% |
| United States of America | 2.52% |
| FNMA or FHLMC | 1.95% |
| United States of America | 1.86% |
| United States of America | 1.40% |
| Janus Henderson Emerging Markets Debt Hard Currency ETF | 1.26% |
| United States of America | 0.93% |
| AppLovin Corp. | 0.82% |
C000028733 Portfolio Allocation
Asset-class allocation of Janus Henderson Flexible Bond Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Securitized | 52.4% |
| Fixed Income | 40.2% |
| Cash & Equivalents | 7.3% |
| Loans | 3.9% |
| Other | 1.3% |
| Real Estate | 0.2% |
C000028733 Performance
Total returns for C000028733 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 0.5% |
| 1 year | 3.5% |
| 3 years (annualised) | 4.3% |
| 5 years (annualised) | -0.1% |
C000028733 Risk Information
Risk metrics for C000028733, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.1%
C000028733 Costs and Fees
C000028733 costs about $82 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.82%
- Gross expense ratio: 0.89%
- Portfolio turnover: 177%
- Brokerage commissions: 0.49 bps of average net assets (SEC N-CEN)
C000028733 Cashflows
Over the 12 months to 2026-06, Janus Henderson Flexible Bond Portfolio had net inflows of $8.36M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $11.33M |
| 2026-05 | −$3.21M |
| 2026-04 | $4.00M |
| 2026-03 | −$9.15M |
| 2026-02 | −$1.05M |
| 2026-01 | $1.60M |
C000028733 Debt Constituents
Largest debt holdings of Janus Henderson Flexible Bond Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States of America | 5.31% |
| United States of America | 5.17% |
| United States of America | 2.52% |
| United States of America | 1.86% |
| United States of America | 1.40% |
| United States of America | 0.93% |
| AppLovin Corp. | 0.82% |
| Citigroup, Inc. | 0.75% |
| United States of America | 0.66% |
| United Airlines Holdings, Inc. | 0.64% |
C000028733 Prospectus and SEC Filings
Official Janus Henderson Flexible Bond Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-30
- Prospectus (485BPOS) — filed 2025-04-30
- Prospectus (485BPOS) — filed 2024-04-29
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-29
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2026-03-16
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other Long Total / Aggregate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.