Fund Evaluator:
Janus Henderson Balanced S (JABRX)
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Best Performing in Moderate Allocation Over the Last Year
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Fund Details
Janus Henderson Balanced S Overview
Janus Henderson Balanced S (JABRX) is an actively managed Allocation Moderate Allocation fund. Janus Henderson launched the fund in 2009.
The investment seeks long-term capital growth, consistent with preservation of capital and balanced by current income. The fund pursues its investment objective by normally investing 35‑70% of its assets in equity securities and the remaining assets in fixed-income securities and cash equivalents. It normally invests at least 25% of its assets in fixed-income senior securities. The fund may also invest in money market instruments. It may invest in fixed and floating rate obligations with varying durations. The fund will limit its investments in high-yield/high-risk bonds to 35% of the fixed-income portion of its net assets.
About Janus Henderson Balanced S (JABRX)
There are 3 members of the management team with an average tenure of 7.92 years: Greg Wilensky (2020), Jeremiah Buckley (2015), Michael Keough (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. Janus Henderson Balanced S has 778 securities in its portfolio. The top 10 holdings constitute 29.7% 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 Balanced S is part of the Allocation global asset class and is within the Allocation fund group. Janus Henderson Balanced S has 2.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 64.8%. There is 0.0% allocated to foreign stock, and 0.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 32.6% (30.2% domestic bond, 2.5% foreign bond and 0.0% convertible bond). Janus Henderson Balanced S has 2.3% of the portfolio in cash.
Assets Under Management
The fund has $356 million in total assets, which is below the $2 billion average for the Moderate Allocation 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.
JABRX 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 Balanced S expense ratio is high compared to funds in the Moderate Allocation category. Janus Henderson Balanced S has an expense ratio of 1.07%, which is 8% higher than its category average, making the fund expense ratio grade a D. 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 Balanced S has a portfolio turnover rate of 75%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 52% for the Moderate Allocation category.
Recently, in the month of July 2026, Janus Henderson Balanced S returned -0.2%, which earned it a grade of C, as the Moderate Allocation category had an average return of -0.3%. 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 Balanced S has a trailing yield of 1.30%, which is below the 1.97% category average. The fund normally distributes its income quarterly 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 Balanced S Grades
Year to date, the fund has returned 3.6%, 2.9 percentage points worse than the category, which translates into a grade of F. The fund has returned 8.9% over the past year (grade of F), 12.2% over the past three years (grade of C) and 6.5% per year over the past five years (grade of C) and 9.8% per year over the past 10 years (grade of A).
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JABRX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| JABRX Return (NAV) | -0.2% | 2.6% | 8.9% | 12.2% | 6.5% | 9.8% |
| JABRX Grade | C | B | F | C | C | A |
| +/- Category | 0.1% | 0.4% | -4.2% | 0.2% | -0.1% | 1.3% |
| Moderate Allocation Avg | -0.3% | 2.1% | 13.1% | 12.0% | 6.6% | 8.5% |
| JABRX Tax Cost Ratio | na | na | 2.1% | 1.5% | 1.3% | 1.2% |
JABRX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| JABRX Return (NAV) | 3.6% | 14.6% | 14.9% | 15.0% | -16.9% | 16.7% | 13.9% | 22.1% | 0.3% | 18.1% | 4.2% |
| JABRX Grade | F | B | B | C | F | B | B | B | A | A | F |
| +/- Category | -2.9% | 1.2% | 2.7% | 0.7% | -2.9% | 2.4% | 1.0% | 2.3% | 5.4% | 4.3% | -3.5% |
| Moderate Allocation Avg | 6.4% | 13.4% | 12.2% | 14.3% | -14.0% | 14.4% | 12.9% | 19.8% | -5.1% | 13.8% | 7.7% |
| Risk Measures | |
| Standard Deviation: | 9.7% |
| Total Risk Index: | 0.79 - Average |
| Category Risk Index: | 1.05 - High |
| Category Risk Grade: | F (83% Rank) |
| Beta: | 0.92 |
| R-Squared: | 80% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 1.3% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $28002 Mil |
| Fund Total Assets: | $ 356 Mil |
| Share Class Type: | S |
| Portfolio Turnover: | 75% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 10.6 years | |||
| Average Tenure: 7.9 years | |||
| Managers (Year): Buckley Jeremiah (2015), Keough Michael (2019), Wilensky Greg (2020) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 778 |
| % in Top 10 Holdings: | 29.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.5% |
Portfolio Allocation |
|
| Domestic Stock: | 64.8% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.2% |
| Domestic Bond: | 30.2% |
| Foreign Bond: | 2.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.3% |
Purchase Information
| Fund Family: | Janus Henderson |
| Phone Number: | 877-335-2687 |
| Website: | www.janushenderson.com |
| Status: | Open |
| Inception Date: | July 6, 2009 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.07% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.99% |
| Share Class: | Janus Henderson Balanced D |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
