JSI Fees and Costs — Janus Henderson Securitized Income ETF
Data updated: 2026-09-25
The net expense ratio is 0.50% (0.51% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $76K in broker commissions, 0.0095% of average net assets, and portfolio turnover was 60%.
JSI Fees and Expenses
Annual operating expenses and sales charges of JSI. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.51% |
| Fee waiver | −0.01% |
| Net expense ratio | 0.50% |
| 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 |
JSI Costs Over Time
On $10,000 invested in JSI, assuming 5% a year before costs, total costs come to $322 over 5 years, cutting the return by 0.53% 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 0.50%) | $52 | $165 | $287 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $53 | $176 | $322 |
| Value after costs | $10,447 | $11,400 | $12,441 |
| Impact on return, per year | 0.53% | 0.53% | 0.53% |
JSI 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): 0.0095%
- Total broker commissions: $76K
- Bought from dealers (principal trades, not a cost): $15.7B
- Portfolio turnover (prospectus): 60%
- Securities on loan, average value: $643K
- Net income from securities lending: $1K (0.000% of average net assets)
JSI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Virtu Americas LLC | $19K | 25.21% |
| Goldman Sachs & Co. LLC | $17K | 23.07% |
| Jane Street Execution Services, LLC | $15K | 20.60% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $9K | 11.78% |
| Deutsche Bank Securities Inc. | $5K | 6.21% |
| UBS Securities LLC | $2K | 3.32% |
| BofA Securities, Inc. | $2K | 2.77% |
| Barclays Capital, Inc. | $2K | 2.47% |
| Citigroup Global Markets Inc. | $2K | 2.41% |
| Morgan Stanley & Co. LLC | $2K | 2.18% |
JSI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $5.5B | 35.39% |
| J.P. Morgan Securities LLC | $4.5B | 29.12% |
| Morgan Stanley & Co. LLC | $2.2B | 14.46% |
| Wells Fargo Securities, LLC | $2.1B | 13.92% |
| BofA Securities, Inc. | $754.4M | 4.89% |
| Citigroup Global Markets Inc. | $90.5M | 0.59% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $69.2M | 0.45% |
| Barclays Capital, Inc. | $64.0M | 0.41% |
| Nomura Securities International, Inc. | $62.3M | 0.40% |
| Cantor Fitzgerald & Co. | $55.8M | 0.36% |
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.