HEMSX Fees and Costs — Janus Henderson Emerging Markets Fund, Class S
Data updated: 2025-08-29
The net expense ratio is 1.54%: a 1.00% management fee, a 0.25% 12b-1 fee plus 4.73% other expenses, less a 4.44% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $89K in broker commissions, 0.1906% of average net assets, and portfolio turnover was 64%.
HEMSX Fees and Expenses
Annual operating expenses and sales charges of HEMSX. Prospectus, as of January 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 4.73% |
| Gross expense ratio | 5.98% |
| Fee waiver | −4.44% |
| Net expense ratio | 1.54% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
HEMSX Costs Over Time
On $10,000 invested in HEMSX, assuming 5% a year before costs, total costs come to $1,067 over 5 years, cutting the return by 1.82% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.54%) | $162 | $501 | $862 |
| Trading costs (broker commissions) | $20 | $62 | $107 |
| Lost growth on money paid in costs | $0 | $28 | $99 |
| Total costs | $182 | $591 | $1,067 |
| Value after costs | $10,318 | $10,986 | $11,696 |
| Impact on return, per year | 1.82% | 1.82% | 1.82% |
HEMSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.1906%
- Total broker commissions: $89K
- Bought from dealers (principal trades, not a cost): $1.2M
- Portfolio turnover (prospectus): 64%
- Securities lending: none during the year
HEMSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley | $17K | 23.42% |
| Goldman Sachs & Co. LLC | $14K | 19.00% |
| CLSA Americas, LLC | $10K | 12.94% |
| JP Morgan Securities LLC | $8K | 10.19% |
| Jefferies LLC | $7K | 8.88% |
| Macquarie Capital (USA) Inc. | $5K | 6.56% |
| UBS Securities LLC | $4K | 5.25% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $4K | 4.99% |
| Citigroup Global Markets Inc. | $3K | 4.68% |
| Liquidnet, Inc. | $3K | 4.09% |
HEMSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley | $1.2M | 100.00% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.