JAGDX Fees and Costs — Janus Henderson Adaptive Global Allocation Fund, Class D
Data updated: 2024-05-30
The net expense ratio is 0.81%: a 0.75% management fee plus 1.11% other expenses, less a 1.05% fee waiver. There are no sales loads or redemption fees. In fiscal 2023 the fund paid $17K in broker commissions, 0.0438% of average net assets, and portfolio turnover was 293%.
JAGDX Fees and Expenses
Annual operating expenses and sales charges of JAGDX. Prospectus, as of October 31, 2023.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | — |
| Other expenses | 1.11% |
| Gross expense ratio | 1.86% |
| Fee waiver | −1.05% |
| Net expense ratio | 0.81% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
JAGDX Costs Over Time
On $10,000 invested in JAGDX, assuming 5% a year before costs, total costs come to $536 over 5 years, cutting the return by 0.90% 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 0.81%) | $85 | $266 | $462 |
| Trading costs (broker commissions) | $5 | $14 | $25 |
| Lost growth on money paid in costs | $0 | $14 | $49 |
| Total costs | $90 | $294 | $536 |
| Value after costs | $10,410 | $11,282 | $12,227 |
| Impact on return, per year | 0.90% | 0.90% | 0.90% |
JAGDX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2023.
- Explicit cost rate (commissions ÷ average net assets): 0.0438%
- Total broker commissions: $17K
- Bought from dealers (principal trades, not a cost): $799.8M
- Portfolio turnover (prospectus): 293%
- Securities on loan, average value: $271K
- Net income from securities lending: $7K (0.019% of average net assets)
JAGDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $7K | 39.38% |
| Morgan Stanley | $4K | 20.97% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $2K | 13.75% |
| Jefferies LLC | $2K | 9.36% |
| UBS Securities LLC | $2K | 8.82% |
| JP Morgan Securities LLC | $622 | 3.61% |
| Cowen and Company | $360 | 2.08% |
| Credit Suisse Securities (USA) LLC | $142 | 0.82% |
| BNP Paribas Securities Corp. | $129 | 0.75% |
| Barclays Capital Inc. | $78 | 0.45% |
JAGDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JP Morgan Securities LLC | $311.4M | 39.40% |
| RBC Capital Markets, LLC | $113.4M | 14.35% |
| Wells Fargo Securities, LLC | $92.3M | 11.67% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $88.6M | 11.21% |
| Goldman Sachs & Co. LLC | $46.1M | 5.84% |
| Citigroup Global Markets Inc. | $43.3M | 5.48% |
| Barclays Capital Inc. | $38.3M | 4.85% |
| MUFG Securities Americas INC. | $31.7M | 4.01% |
| Mizuho Securities USA LLC | $18.3M | 2.31% |
| Suntrust Robinson Humphrey, Inc. | $6.9M | 0.87% |
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.