Janus Henderson High-Yield Fund
JDHCX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Denver CO 80206 Denver CO United States of America 80206
- IPO Date
- Aug 4, 2005
- CIK
- 0000277751
- Website
- janushenderson.com
- Similar Companies
- Business
- Janus Henderson High-Yield Fund (JDHCX) is an open-end mutual fund that seeks high current income with a secondary objective of capital appreciation by investing primarily in U.S. high-yield corporate bonds and related securities. The fund normally allocates at least 80% of its net assets to high yield, unrated, or non-investment grade (BB+ rated or lower) corporate bonds, preference shares, and debt issued by companies, governments, public authorities, and international organizations; at least 51% of assets are invested in bonds, with the remainder potentially in other bonds, cash, money market instruments, derivatives for risk management or efficiency, bank loans, convertibles, futures, and equities. It employs a high-conviction active strategy benchmarked against the Bloomberg U.S. Corporate High Yield Bond Index, targeting outperformance of 1.25% annually over five years before charges, supported by global research across credit qualities and sectors such as consumer cyclical, technology, energy, communications, and midstream. Launched on December 29, 1995, and domiciled in the United States, the fund is managed by Janus Henderson Investors, with a portfolio management team comprising Tom Ross, CFA (since 2022), Brent Olson (since 2019), and Brad Smith (since 2024); it offers multiple share classes including Class C (JDHCX), Class A (JHYAX), Class I (JHYFX), Class N (JHYNX), Class R (JHYRX), Class S (JDHYX), and Class T (JAHYX), with total net assets of approximately $699.65 million as of September 30, 2025. The fund targets institutional and retail investors seeking income from high-yield fixed income, with geographic focus predominantly on U.S. issuers (about 83% of holdings), supplemented by non-U.S. developed (10%) and emerging markets (5%), and operates without specified subsidiaries as a standalone series within Janus Henderson's U.S. mutual fund complex. Expense ratios vary by class, with Class C at a gross of around 1.0% and net of 0.95% after waivers effective through at least October 28, 2025; distributions occur monthly, with a recent 30-day SEC yield for Class I shares at 6.33% (with waivers). Recent portfolio adjustments as of Q3 2025 include rotations from corporate bonds into loans for alpha opportunities amid high new issuance volumes and tightening secondary markets, increased allocations to technology, midstream energy, and home construction, and reduced exposure to building materials, metals & mining, and chemicals; the strategy emphasizes artificial intelligence-related opportunities, such as power infrastructure supporting AI growth, and gaming beyond major hubs. Top holdings feature US 2YR NOTE futures (9.57%), Sunoco LP 7.88% bonds due 2199 (2.18%), Tallgrass Energy Partners 6.75% due 2034 (1.88%), and issuers like CoreWeave, LifePoint Health, and First Quantum Minerals, reflecting 154 debt issues with a weighted average maturity of 5.35 years and duration of 2.80 years. In Q3 2025, the fund returned 3.04% for Class I shares (outperforming the benchmark's 2.54%), driven by security selection in high-yield corporates, loans, and convertibles, though detracted by cable satellite and retailer exposures; year-to-date through Q3, returns stood at 7.53%.