JMBS Fees and Costs — Janus Henderson Mortgage-Backed Securities ETF
Data updated: 2026-09-25
The net expense ratio is 0.21%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $155K in broker commissions, 0.0028% of average net assets, and portfolio turnover was 102%.
JMBS Fees and Expenses
Annual operating expenses and sales charges of JMBS. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.21% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.21% |
| Fee waiver | — |
| Net expense ratio | 0.21% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
JMBS Costs Over Time
On $10,000 invested in JMBS, assuming 5% a year before costs, total costs come to $135 over 5 years, cutting the return by 0.22% 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 0.21%) | $22 | $69 | $121 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $3 | $12 |
| Total costs | $22 | $74 | $135 |
| Value after costs | $10,478 | $11,503 | $12,628 |
| Impact on return, per year | 0.22% | 0.22% | 0.22% |
JMBS 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): 0.0028%
- Total broker commissions: $155K
- Bought from dealers (principal trades, not a cost): $262.8B
- Portfolio turnover (prospectus): 102%
- Securities on loan, average value: $8K
- Net income from securities lending: $3 (0.000% of average net assets)
JMBS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $77K | 49.65% |
| Deutsche Bank Securities Inc. | $17K | 10.76% |
| UBS Securities LLC | $16K | 10.36% |
| Barclays Capital, Inc. | $15K | 9.82% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $13K | 8.41% |
| Morgan Stanley & Co. LLC | $12K | 7.63% |
| Citigroup Global Markets Inc. | $5K | 3.37% |
JMBS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $77.7B | 29.75% |
| Goldman Sachs & Co. LLC | $73.5B | 28.13% |
| J.P. Morgan Securities LLC | $49.1B | 18.78% |
| BofA Securities, Inc. | $30.8B | 11.79% |
| Wells Fargo Securities, LLC | $13.9B | 5.33% |
| Citigroup Global Markets Inc. | $12.2B | 4.67% |
| StoneX Financial, Inc | $2.1B | 0.80% |
| SANTANDER INVESTMENT S.A. | $949.4M | 0.36% |
| Barclays Capital, Inc. | $638.3M | 0.24% |
| Nomura Securities International, Inc. | $360.6M | 0.14% |
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.