JIII Fees and Costs — Janus Henderson Income ETF
Data updated: 2026-09-25
The net expense ratio is 0.54% (0.56% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $20K in broker commissions, 0.0192% of average net assets, and portfolio turnover was 126%.
JIII Fees and Expenses
Annual operating expenses and sales charges of JIII. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.52% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.56% |
| Fee waiver | −0.02% |
| Net expense ratio | 0.54% |
| 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 |
JIII Costs Over Time
On $10,000 invested in JIII, assuming 5% a year before costs, total costs come to $353 over 5 years, cutting the return by 0.59% 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 0.54%) | $57 | $178 | $310 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $0 | $9 | $32 |
| Total costs | $59 | $193 | $353 |
| Value after costs | $10,441 | $11,383 | $12,410 |
| Impact on return, per year | 0.59% | 0.59% | 0.59% |
JIII 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): 0.0192%
- Total broker commissions: $20K
- Bought from dealers (principal trades, not a cost): $1.3B
- Portfolio turnover (prospectus): 126%
- Securities on loan, average value: $372K
- Net income from securities lending: $2K (0.002% of average net assets)
JIII Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $6K | 32.50% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $5K | 30.56% |
| Jane Street Execution Services, LLC | $1K | 8.30% |
| Susquehanna Financial Group, LLLP | $1K | 6.58% |
| UBS Securities LLC | $1K | 5.95% |
| Virtu Americas LLC | $647 | 3.74% |
| BofA Securities, Inc. | $612 | 3.54% |
| Citigroup Global Markets Inc. | $532 | 3.08% |
| Cantor Fitzgerald & Co. | $497 | 2.87% |
| RBC Capital Markets, LLC | $497 | 2.87% |
JIII Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $470.8M | 37.70% |
| Goldman Sachs & Co. LLC | $260.8M | 20.89% |
| BNP Paribas Securities Corp. | $184.0M | 14.74% |
| BofA Securities, Inc. | $106.0M | 8.49% |
| Morgan Stanley & Co. LLC | $97.1M | 7.78% |
| Wells Fargo Securities, LLC | $56.0M | 4.48% |
| Citigroup Global Markets Inc. | $19.9M | 1.59% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $18.5M | 1.48% |
| Deutsche Bank Securities Inc. | $17.9M | 1.43% |
| Jefferies LLC | $17.8M | 1.42% |
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.