JVSNX Fees and Costs — Janus Henderson Small-Mid Cap Value Fund, Class N
Data updated: 2026-09-14
The net expense ratio is 0.91%: a 0.86% management fee plus 0.30% other expenses, less a 0.25% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $45K in broker commissions, 0.0577% of average net assets, and portfolio turnover was 76%.
JVSNX Fees and Expenses
Annual operating expenses and sales charges of JVSNX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.86% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.16% |
| Fee waiver | −0.25% |
| Net expense ratio | 0.91% |
| 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 |
JVSNX Costs Over Time
On $10,000 invested in JVSNX, assuming 5% a year before costs, total costs come to $606 over 5 years, cutting the return by 1.02% 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 0.91%) | $96 | $298 | $517 |
| Trading costs (broker commissions) | $6 | $19 | $33 |
| Lost growth on money paid in costs | $0 | $16 | $56 |
| Total costs | $102 | $333 | $606 |
| Value after costs | $10,398 | $11,243 | $12,157 |
| Impact on return, per year | 1.02% | 1.02% | 1.02% |
JVSNX 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): 0.0577%
- Total broker commissions: $45K
- Bought from dealers (principal trades, not a cost): $470.7M
- Portfolio turnover (prospectus): 76%
- Securities lending: none during the year
JVSNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $10K | 26.55% |
| Jefferies LLC | $7K | 19.89% |
| Citigroup Global Markets Inc. | $3K | 8.58% |
| Goldman Sachs & Co. LLC | $3K | 7.51% |
| Morgan Stanley & Co. LLC | $3K | 7.16% |
| Proof Services LLC | $3K | 7.16% |
| TD SECURITIES (USA) LLC | $3K | 7.05% |
| J.P. Morgan Securities LLC | $2K | 6.89% |
| Liquidnet, Inc. | $2K | 4.98% |
| Raymond James & Associates, Inc. | $2K | 4.24% |
JVSNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ING Financial Markets LLC | $469.6M | 99.77% |
| J.P. Morgan Securities LLC | $795K | 0.17% |
| Morgan Stanley & Co. LLC | $157K | 0.03% |
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $118K | 0.03% |
Janus Henderson Small-Mid Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JVSNX | Class N | 0.91% | none |
| JVSIX | Class I | 1.01% | none |
| JSVDX | Class D | 1.03% | — |
| JSVTX | Class T | 1.15% | none |
| JVSAX | Class A | 1.29% | 5.75% |
| JSVSX | Class S | 1.41% | none |
| JVSCX | Class C | 2.01% | 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.