ETF Evaluator: Janus Henderson Securitized Income ETF () Follow This ETF

Janus Henderson Securitized Income ETF Overview

Janus Henderson Securitized Income ETF (JSI) is an actively managed Taxable Bond Securitized Bond - Diversified exchange-traded fund (ETF). Janus Henderson launched the ETF in 2023.

The investment seeks current income with a focus on preservation of capital. The fund advisor pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus borrowings for investment purposes) in securitized securities. Securitized securities are debt securities that entitle their holders to payments that depend primarily on the assets underlying the securities, and include, but are not limited to, asset-backed securities (“ABS”), collateralized loan obligations (“CLOs”), agency and non‑agency mortgage-backed securities (“MBS”), and collateralized mortgage obligations (“CMOs”). The fund is non-diversified.

About Janus Henderson Securitized Income ETF (JSI)

There are 2 members of the management team with an average tenure of 2.73 years: Nick Childs (2023) and John Kerschner (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA US ABS & CMBS TR USD index with a weighting of 100%. Janus Henderson Securitized Income ETF has 586 securities in its portfolio. The top 10 holdings constitute 32.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Janus Henderson Securitized Income ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Janus Henderson Securitized Income ETF has 0.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.7% (97.0% domestic bond, 0.7% foreign bond and 0.2% convertible bond). Janus Henderson Securitized Income ETF has 1.5% of the portfolio in cash.

Assets Under Management

The fund has $1 billion in total assets, which is above the $912 million average for the Securitized Bond - Diversified category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

JSI Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Janus Henderson Securitized Income ETF expense ratio is average compared to funds in the Securitized Bond - Diversified category. Janus Henderson Securitized Income ETF has an expense ratio of 0.50%, which is 21% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Janus Henderson Securitized Income ETF has a portfolio turnover rate of 60%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 154% for the Securitized Bond - Diversified category.

Recently, in the month of July 2026, Janus Henderson Securitized Income ETF returned -0.0%, which earned it a grade of C, as the Securitized Bond - Diversified category had an average return of -0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Janus Henderson Securitized Income ETF has a trailing yield of 6.38%, which is above the 5.35% category average. The fund normally distributes its income monthly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Janus Henderson Securitized Income ETF Grades

Year to date, the ETF has returned 1.2%, 0.2 percentage points better than the category, which translates into a grade of C. The fund has returned 3.6% over the past year (grade of F).

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