JRANX Fees and Costs — Janus Henderson Research Fund, Class N
Data updated: 2026-08-26
The net expense ratio is 0.72%: a 0.69% management fee plus 0.03% other expenses. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $3.0M in broker commissions, 0.0144% of average net assets, and portfolio turnover was 33%.
JRANX Fees and Expenses
Annual operating expenses and sales charges of JRANX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.69% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.72% |
| Fee waiver | — |
| Net expense ratio | 0.72% |
| 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 |
JRANX Costs Over Time
On $10,000 invested in JRANX, assuming 5% a year before costs, total costs come to $462 over 5 years, cutting the return by 0.77% 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 0.72%) | $76 | $237 | $411 |
| Trading costs (broker commissions) | $2 | $5 | $8 |
| Lost growth on money paid in costs | $0 | $12 | $42 |
| Total costs | $77 | $253 | $462 |
| Value after costs | $10,423 | $11,323 | $12,301 |
| Impact on return, per year | 0.77% | 0.77% | 0.77% |
JRANX 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): 0.0144%
- Total broker commissions: $3.0M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 33%
- Securities on loan, average value: $8.7M
- Net income from securities lending: $52K (0.000% of average net assets)
JRANX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley | $648K | 25.33% |
| Goldman Sachs & Co. LLC | $405K | 15.86% |
| Jefferies LLC | $373K | 14.61% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $329K | 12.87% |
| JP Morgan Securities LLC | $271K | 10.58% |
| UBS Securities LLC | $158K | 6.19% |
| Cowen and Company | $116K | 4.52% |
| Mizuho Securities USA LLC | $104K | 4.06% |
| Liquidnet, Inc. | $78K | 3.06% |
| Jonestrading | $74K | 2.91% |
Janus Henderson Research Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JRANX | Class N | 0.72% | none |
| JRAIX | Class I | 0.81% | none |
| JNRFX | Class D | 0.83% | — |
| JAMRX | Class T | 0.96% | none |
| JRAAX | Class A | 1.03% | 5.75% |
| JRASX | Class S | 1.23% | none |
| JRARX | Class R | 1.48% | none |
| JRACX | Class C | 1.79% | 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.