Fund Evaluator:

Janus Henderson VIT Mid Cap Value Instl Overview

Janus Henderson VIT Mid Cap Value Instl (JAMVX) is an actively managed U.S. Equity Mid-Cap Value fund. Janus Henderson launched the fund in 2003.

The investment seeks capital appreciation. The Portfolio pursues its investment objective by investing primarily in the common stocks of mid-sized companies and focuses on companies whose stock prices are believed to be undervalued by portfolio management or that have fallen out of favor with the market. The Portfolio may invest up to 20% of its net assets in securities of companies having market capitalizations outside of the aforementioned market capitalization ranges.

About Janus Henderson VIT Mid Cap Value Instl (JAMVX)

There are 1 members of the management team with an average tenure of 11.46 years: Justin Tugman (2015). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell Mid Cap Value TR USD index with a weighting of 100%. Janus Henderson VIT Mid Cap Value Instl has 73 securities in its portfolio. The top 10 holdings constitute 22.5% 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 VIT Mid Cap Value Instl is part of the Equity global asset class and is within the U.S. Equity fund group. Janus Henderson VIT Mid Cap Value Instl has 2.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.6%. There is 2.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Janus Henderson VIT Mid Cap Value Instl has 1.5% of the portfolio in cash.

Assets Under Management

The fund has $63 million in total assets, which is below the $650 million average for the Mid-Cap Value 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.

JAMVX 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 VIT Mid Cap Value Instl expense ratio is high compared to funds in the Mid-Cap Value category. Janus Henderson VIT Mid Cap Value Instl has an expense ratio of 0.83%, which is 20% lower than its category average, making the fund expense ratio grade a B. 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 VIT Mid Cap Value Instl has a portfolio turnover rate of 40%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Mid-Cap Value category.

Recently, in the month of August 2026, Janus Henderson VIT Mid Cap Value Instl returned 0.1%, which earned it a grade of D, as the Mid-Cap Value category had an average return of 1.1%. 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 VIT Mid Cap Value Instl has a trailing yield of 0.78%, which is below the 0.85% category average. The fund normally distributes its income semi-annually 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 VIT Mid Cap Value Instl Grades

Year to date, the fund has returned 13.2%, 3.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 14.5% over the past year (grade of D), 13.5% over the past three years (grade of D) and 8.5% per year over the past five years (grade of D) and 8.8% per year over the past 10 years (grade of D).

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