JCNIX Fees and Costs — Janus Henderson Contrarian Fund, Class S
Data updated: 2026-08-26
The net expense ratio is 1.11%: a 0.50% management fee, a 0.25% 12b-1 fee plus 0.48% other expenses, less a 0.12% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $1.5M in broker commissions, 0.0325% of average net assets, and portfolio turnover was 52%.
JCNIX Fees and Expenses
Annual operating expenses and sales charges of JCNIX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.48% |
| Gross expense ratio | 1.23% |
| Fee waiver | −0.12% |
| Net expense ratio | 1.11% |
| 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 |
JCNIX Costs Over Time
On $10,000 invested in JCNIX, assuming 5% a year before costs, total costs come to $713 over 5 years, cutting the return by 1.20% 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 1.11%) | $117 | $363 | $629 |
| Trading costs (broker commissions) | $3 | $11 | $18 |
| Lost growth on money paid in costs | $0 | $19 | $65 |
| Total costs | $120 | $392 | $713 |
| Value after costs | $10,380 | $11,184 | $12,050 |
| Impact on return, per year | 1.20% | 1.20% | 1.20% |
JCNIX 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): 0.0325%
- Total broker commissions: $1.5M
- Bought from dealers (principal trades, not a cost): $91.5M
- Portfolio turnover (prospectus): 52%
- Securities on loan, average value: $13.5M
- Net income from securities lending: $130K (0.003% of average net assets)
JCNIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $228K | 18.85% |
| Morgan Stanley | $181K | 14.97% |
| Goldman Sachs & Co. LLC | $181K | 14.94% |
| JP Morgan Securities LLC | $121K | 10.02% |
| Jefferies LLC | $101K | 8.36% |
| Citigroup Global Markets Inc. | $97K | 8.01% |
| Liquidnet, Inc. | $92K | 7.61% |
| UBS Securities LLC | $77K | 6.41% |
| Wells Fargo Securities, LLC | $73K | 6.04% |
| Cowen and Company | $58K | 4.79% |
JCNIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $26.5M | 28.99% |
| JP Morgan Securities LLC | $17.5M | 19.09% |
| Barclays Capital Inc. | $13.1M | 14.34% |
| Suntrust Robinson Humphrey, Inc. | $9.9M | 10.87% |
| Morgan Stanley | $9.5M | 10.40% |
| UBS Securities LLC | $7.0M | 7.68% |
| Citigroup Global Markets Inc. | $4.2M | 4.61% |
| Goldman Sachs & Co. LLC | $3.4M | 3.68% |
| Jefferies LLC | $308K | 0.34% |
Janus Henderson Contrarian Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JCNNX | Class N | 0.53% | none |
| JCONX | Class I | 0.63% | none |
| JACNX | Class D | 0.65% | — |
| JSVAX | Class T | 0.77% | none |
| JCNAX | Class A | 0.90% | 5.75% |
| JCNIX | Class S | 1.11% | none |
| JCNRX | Class R | 1.37% | none |
| JCNCX | Class C | 1.63% | 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.