Fund Evaluator:

Janus Henderson Global Allc Cnsrv A Overview

Janus Henderson Global Allc Cnsrv A (JCAAX) is an actively managed Allocation Global Moderately Conservative Allocation fund. Janus Henderson launched the fund in 2009.

The investment seeks total return through a primary emphasis on income with a secondary emphasis on growth of capital. The fund seeks to achieve its investment objective by investing in other mutual funds and ETFs that represent a variety of asset classes and investment styles and provide exposure to issuers that are economically tied to countries throughout the world. Under normal market conditions, the fund will primarily invest its assets in Janus Henderson underlying funds.

About Janus Henderson Global Allc Cnsrv A (JCAAX)

There are 3 members of the management team with an average tenure of 0.88 years: Nicholas Harper (2024), Allan Maymin (2026), Philip Maymin (2026). Management tenure is more important for actively managed funds than passive index funds.

The fund has 3 primary benchmarks: Bloomberg Global Aggregate TR USD index with a weighting of 100%, Bloomberg Global Aggregate TR USD index with a weighting of 60% and MSCI ACWI NR USD index with a weighting of 40%. Janus Henderson Global Allc Cnsrv A has 15 securities in its portfolio. The top 10 holdings constitute 88.8% 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 Global Allc Cnsrv A is part of the Allocation global asset class and is within the Allocation fund group. Janus Henderson Global Allc Cnsrv A has 51.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 22.9%. There is 19.2% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 53.5% (20.9% domestic bond, 32.6% foreign bond and 0.0% convertible bond). Janus Henderson Global Allc Cnsrv A has 4.3% of the portfolio in cash.

Assets Under Management

The fund has $4 million in total assets, which is below the $304 million average for the Global Moderately Conservative 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.

JCAAX 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 Global Allc Cnsrv A expense ratio is high compared to funds in the Global Moderately Conservative Allocation category. Janus Henderson Global Allc Cnsrv A has an expense ratio of 0.94%, which is 4% 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 Global Allc Cnsrv A has a portfolio turnover rate of 47%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 50% for the Global Moderately Conservative Allocation category.

Recently, in the month of July 2026, Janus Henderson Global Allc Cnsrv A returned -1.5%, which earned it a grade of F, as the Global Moderately Conservative Allocation 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 Global Allc Cnsrv A has a trailing yield of 2.02%, which is below the 3.07% 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 Global Allc Cnsrv A Grades

Year to date, the fund has returned 4.3%, 0.8 percentage points worse than the category, which translates into a grade of D. The fund has returned 10.0% over the past year (grade of D), 8.8% over the past three years (grade of D) and 2.4% per year over the past five years (grade of F) and 4.5% per year over the past 10 years (grade of F).

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