JVTAX Fees and Costs — Janus Henderson Venture Fund, Class A
Data updated: 2026-08-26
The net expense ratio is 1.04%: a 0.64% management fee, a 0.25% 12b-1 fee plus 0.15% other expenses. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2024 the fund paid $1.0M in broker commissions, 0.0333% of average net assets, and portfolio turnover was 24%.
JVTAX Fees and Expenses
Annual operating expenses and sales charges of JVTAX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.64% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.15% |
| Gross expense ratio | 1.04% |
| Fee waiver | — |
| Net expense ratio | 1.04% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| 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 |
JVTAX Costs Over Time
On $10,000 invested in JVTAX, assuming 5% a year before costs, total costs come to $1,366 over 5 years, cutting the return by 2.35% 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 |
| Sales charges | $575 | $575 | $575 |
| Fund expenses (net expense ratio 1.04%) | $103 | $321 | $556 |
| Trading costs (broker commissions) | $3 | $10 | $18 |
| Lost growth on money paid in costs | $29 | $107 | $217 |
| Total costs | $710 | $1,013 | $1,366 |
| Value after costs | $9,790 | $10,563 | $11,397 |
| Impact on return, per year | 7.10% | 3.16% | 2.35% |
JVTAX 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): 0.0333%
- Total broker commissions: $1.0M
- Bought from dealers (principal trades, not a cost): $31.6M
- Portfolio turnover (prospectus): 24%
- Securities on loan, average value: $25.1M
- Net income from securities lending: $397K (0.013% of average net assets)
JVTAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Inc. | $160K | 19.09% |
| JP Morgan Securities LLC | $121K | 14.42% |
| Jefferies LLC | $117K | 14.01% |
| Morgan Stanley | $113K | 13.55% |
| Goldman Sachs & Co. LLC | $80K | 9.57% |
| Liquidnet, Inc. | $77K | 9.24% |
| RBC Capital Markets, LLC | $55K | 6.58% |
| Cowen and Company | $46K | 5.53% |
| UBS Securities LLC | $43K | 5.19% |
| William Blair & Company, LLC | $24K | 2.81% |
JVTAX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $10.4M | 32.91% |
| Morgan Stanley | $10.2M | 32.13% |
| Goldman Sachs & Co. LLC | $7.5M | 23.80% |
| UBS Securities LLC | $2.8M | 8.95% |
| JP Morgan Securities LLC | $698K | 2.21% |
Janus Henderson Venture Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| JVTNX | Class N | 0.67% | none |
| JVTIX | Class I | 0.77% | none |
| JANVX | Class D | 0.79% | — |
| JAVTX | Class T | 0.92% | none |
| JVTAX | Class A | 1.04% | 5.75% |
| JVTSX | Class S | 1.18% | none |
| JVTCX | Class C | 1.96% | 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.