HFEIX Fees and Costs — Janus Henderson European Focus Fund, Class I
Data updated: 2026-08-26
The net expense ratio is 1.06%: a 0.99% management fee plus 0.21% other expenses, less a 0.14% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $750K in broker commissions, 0.1565% of average net assets, and portfolio turnover was 159%.
HFEIX Fees and Expenses
Annual operating expenses and sales charges of HFEIX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.21% |
| Gross expense ratio | 1.20% |
| Fee waiver | −0.14% |
| Net expense ratio | 1.06% |
| 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 |
HFEIX Costs Over Time
On $10,000 invested in HFEIX, assuming 5% a year before costs, total costs come to $758 over 5 years, cutting the return by 1.28% 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 1.06%) | $111 | $346 | $600 |
| Trading costs (broker commissions) | $16 | $51 | $89 |
| Lost growth on money paid in costs | $0 | $20 | $70 |
| Total costs | $128 | $417 | $758 |
| Value after costs | $10,372 | $11,159 | $12,005 |
| Impact on return, per year | 1.28% | 1.28% | 1.28% |
HFEIX 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): 0.1565%
- Total broker commissions: $750K
- Bought from dealers (principal trades, not a cost): $11.2M
- Portfolio turnover (prospectus): 159%
- Securities on loan, average value: $596K
- Net income from securities lending: $16K (0.003% of average net assets)
HFEIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Barclays Capital Inc. | $106K | 17.55% |
| Goldman Sachs & Co. LLC | $105K | 17.33% |
| Citigroup Global Markets Inc. | $66K | 10.90% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $66K | 10.84% |
| Morgan Stanley | $63K | 10.41% |
| JP Morgan Securities LLC | $58K | 9.62% |
| UBS Securities LLC | $51K | 8.47% |
| VIRTU ITG LLC | $31K | 5.14% |
| Liquidnet, Inc. | $31K | 5.11% |
| Jefferies LLC | $28K | 4.64% |
HFEIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JP Morgan Securities LLC | $5.7M | 50.96% |
| Goldman Sachs & Co. LLC | $3.9M | 34.80% |
| UBS Securities LLC | $1.2M | 10.30% |
| Citigroup Global Markets Inc. | $440K | 3.93% |
Janus Henderson European Focus Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| HFERX | Class N | 0.96% | none |
| HFEIX | Class I | 1.06% | none |
| HFEDX | Class D | 1.09% | — |
| HFETX | Class T | 1.21% | none |
| HFEAX | Class A | 1.30% | 5.75% |
| HFESX | Class S | 1.46% | none |
| HFECX | Class C | 2.07% | none |
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.