Fund Evaluator:

Janus Henderson Developed World Bond D Overview

Janus Henderson Developed World Bond D (HFADX) is an actively managed Taxable Bond Global Bond-USD Hedged fund. Janus Henderson launched the fund in 2017.

The investment seeks total return through current income and capital appreciation. The fund pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in bonds or other income-producing debt-related securities from developed countries. The managers intend to invest at least 40% of the fund's net assets outside of the United States and in at least three different countries.

About Janus Henderson Developed World Bond D (HFADX)

There are 2 members of the management team with an average tenure of 9.80 years: Jenna Barnard (2008), Nicholas Ware (2024). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg Global Aggregate TR USD index with a weighting of 100% and Bloomberg Gbl Agg Credit TR Hdg USD index with a weighting of 100%. Janus Henderson Developed World Bond D has 196 securities in its portfolio. The top 10 holdings constitute 18.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Janus Henderson Developed World Bond D is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Janus Henderson Developed World Bond D has 57.0% 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 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.2% (40.2% domestic bond, 57.0% foreign bond and 0.0% convertible bond). Janus Henderson Developed World Bond D has 2.8% of the portfolio in cash.

Assets Under Management

The fund has $49 million in total assets, which is below the $2 billion average for the Global Bond-USD Hedged 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.

HFADX 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 Developed World Bond D expense ratio is above average compared to funds in the Global Bond-USD Hedged category. Janus Henderson Developed World Bond D has an expense ratio of 0.68%, which is 7% lower than its category average, making the fund expense ratio grade a C. 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 Developed World Bond D has a portfolio turnover rate of 84%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 197% for the Global Bond-USD Hedged category.

Recently, in the month of June 2026, Janus Henderson Developed World Bond D returned 0.5%, which earned it a grade of C, as the Global Bond-USD Hedged category had an average return of 0.5%. 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 funds in that category.

Janus Henderson Developed World Bond D has a trailing yield of 3.82%, which is below the 3.99% category average. The fund normally distributes its income monthly.

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 Developed World Bond D Grades

Year to date, the fund has returned 1.1%, 0.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 4.1% over the past year (grade of A), 4.7% over the past three years (grade of D) and -0.7% per year over the past five years (grade of F) and 2.3% per year over the past 10 years (grade of B).

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