JRSTX Fees and Costs — Janus Henderson Adaptive Risk Managed U.S. Equity Fund, Class T
Data updated: 2026-09-14
The net expense ratio is 0.82%: a 0.50% management fee plus 0.32% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $47K in broker commissions, 0.0074% of average net assets, and portfolio turnover was 113%.
JRSTX Fees and Expenses
Annual operating expenses and sales charges of JRSTX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.32% |
| Gross expense ratio | 0.82% |
| Fee waiver | — |
| Net expense ratio | 0.82% |
| 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 |
JRSTX Costs Over Time
On $10,000 invested in JRSTX, assuming 5% a year before costs, total costs come to $519 over 5 years, cutting the return by 0.87% 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 0.82%) | $86 | $269 | $468 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $13 | $48 |
| Total costs | $87 | $285 | $519 |
| Value after costs | $10,413 | $11,291 | $12,243 |
| Impact on return, per year | 0.87% | 0.87% | 0.87% |
JRSTX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0074%
- Total broker commissions: $47K
- Bought from dealers (principal trades, not a cost): $40.1M
- Portfolio turnover (prospectus): 113%
- Securities on loan, average value: $777K
- Net income from securities lending: $16K (0.003% of average net assets)
JRSTX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $44K | 95.70% |
| William Blair & Company, L.L.C. | $1K | 2.17% |
| SUSQUEHANNA SECURITIES, LLC | $863 | 1.86% |
| Jefferies LLC | $126 | 0.27% |
| CastleOak Securities, L.P. | $1 | 0.00% |
| Pershing LLC | $1 | 0.00% |
JRSTX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $40.1M | 99.99% |
| Goldman Sachs & Co. LLC | $6K | 0.01% |
Janus Henderson Adaptive Risk Managed U.S. Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JRSNX | Class N | 0.58% | none |
| JRSIX | Class I | 0.65% | none |
| JRSDX | Class D | 0.70% | — |
| JRSTX | Class T | 0.82% | none |
| JRSAX | Class A | 0.90% | 5.75% |
| JRSSX | Class S | 1.09% | none |
| JRSCX | Class C | 1.67% | 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.