JBBB Fees and Costs — Janus Henderson B-BBB CLO ETF
Data updated: 2026-09-25
The net expense ratio is 0.47%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $89K in broker commissions, 0.0061% of average net assets, and portfolio turnover was 97%.
JBBB Fees and Expenses
Annual operating expenses and sales charges of JBBB. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.46% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.47% |
| Fee waiver | — |
| Net expense ratio | 0.47% |
| 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 |
JBBB Costs Over Time
On $10,000 invested in JBBB, assuming 5% a year before costs, total costs come to $301 over 5 years, cutting the return by 0.50% 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 0.47%) | $49 | $155 | $270 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $8 | $27 |
| Total costs | $50 | $165 | $301 |
| Value after costs | $10,450 | $11,412 | $12,462 |
| Impact on return, per year | 0.50% | 0.50% | 0.50% |
JBBB Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0061%
- Total broker commissions: $89K
- Bought from dealers (principal trades, not a cost): $7.4B
- Portfolio turnover (prospectus): 97%
- Securities on loan, average value: $1.3M
- Net income from securities lending: $7K (0.000% of average net assets)
JBBB Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jane Street Execution Services, LLC | $37K | 40.92% |
| Goldman Sachs & Co. LLC | $18K | 20.64% |
| Virtu Americas LLC | $13K | 14.32% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $11K | 11.91% |
| BofA Securities, Inc. | $5K | 5.52% |
| Susquehanna Financial Group, LLLP | $4K | 4.41% |
| J.P. Morgan Securities LLC | $1K | 1.49% |
| RBC Capital Markets, LLC | $693 | 0.78% |
JBBB Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $3.5B | 48.69% |
| Citigroup Global Markets Inc. | $983.5M | 13.87% |
| BofA Securities, Inc. | $571.8M | 8.06% |
| Barclays Capital, Inc. | $560.5M | 7.90% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $435.7M | 6.14% |
| Morgan Stanley & Co. LLC | $409.2M | 5.77% |
| Goldman Sachs & Co. LLC | $359.4M | 5.07% |
| Deutsche Bank Securities Inc. | $228.7M | 3.22% |
| SANTANDER INVESTMENT S.A. | $47.8M | 0.67% |
| Nomura Securities International, Inc. | $42.8M | 0.60% |
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.