Fund Evaluator:
Janus Henderson Contrarian R (JCNRX)
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Best Performing in Mid-Cap Blend Over the Last Year
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Fund Details
Janus Henderson Contrarian R Overview
Janus Henderson Contrarian R (JCNRX) is an actively managed U.S. Equity Mid-Cap Blend fund. Janus Henderson launched the fund in 2009.
The investment seeks long-term growth of capital. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities with the potential for long-term growth of capital. The manager seeks to invest in companies where the stock price trades at a significant discount to the manager's estimate of fair value and whose intrinsic value the manager believes will grow over time. The fund may invest in companies of any size, from larger, well-established companies to smaller, emerging growth companies. It is non-diversified.
About Janus Henderson Contrarian R (JCNRX)
There are 2 members of the management team with an average tenure of 4.79 years: Edward Su (2026), Nick Schommer (2017). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Janus Henderson Contrarian R has 41 securities in its portfolio. The top 10 holdings constitute 45.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Janus Henderson Contrarian R is part of the Equity global asset class and is within the U.S. Equity fund group. Janus Henderson Contrarian R has 12.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 83.5%. There is 12.5% 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 Contrarian R has 3.9% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $1 billion average for the Mid-Cap Blend 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.
JCNRX 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 Contrarian R expense ratio is high compared to funds in the Mid-Cap Blend category. Janus Henderson Contrarian R has an expense ratio of 1.37%, which is 40% 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 Contrarian R has a portfolio turnover rate of 52%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Mid-Cap Blend category.
Recently, in the month of July 2026, Janus Henderson Contrarian R returned -8.2%, which earned it a grade of F, as the Mid-Cap Blend category had an average return of -1.8%. 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 Contrarian R has a trailing yield of 0.00%, which is below the 0.48% category average. The fund normally distributes its income 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 Contrarian R Grades
Year to date, the fund has returned 14.6%, 1.5 percentage points better than the category, which translates into a grade of B. The fund has returned 15.4% over the past year (grade of D), 12.6% over the past three years (grade of C) and 6.5% per year over the past five years (grade of D) and 12.6% per year over the past 10 years (grade of A).
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JCNRX 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 |
|
| JCNRX Return (NAV) | -8.2% | 4.7% | 15.4% | 12.6% | 6.5% | 12.6% |
| JCNRX Grade | F | B | D | C | D | A |
| +/- Category | -6.4% | 0.8% | -2.4% | -0.0% | -1.1% | 2.3% |
| Mid-Cap Blend Avg | -1.8% | 3.9% | 17.8% | 12.7% | 7.6% | 10.3% |
| JCNRX Tax Cost Ratio | na | na | 2.5% | 2.2% | 1.9% | 1.8% |
JCNRX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| JCNRX Return (NAV) | 14.6% | 6.6% | 17.6% | 20.7% | -22.1% | 20.1% | 26.9% | 42.0% | -4.8% | 4.7% | 7.5% |
| JCNRX Grade | B | D | A | A | F | F | A | A | A | F | F |
| +/- Category | 1.5% | -1.3% | 4.0% | 4.3% | -7.0% | -4.2% | 13.6% | 13.5% | 5.5% | -11.4% | -7.0% |
| Mid-Cap Blend Avg | 13.0% | 7.9% | 13.5% | 16.4% | -15.1% | 24.3% | 13.3% | 28.5% | -10.3% | 16.1% | 14.6% |
| Risk Measures | |
| Standard Deviation: | 20.3% |
| Total Risk Index: | 1.66 - High |
| Category Risk Index: | 1.29 - High |
| Category Risk Grade: | F (99% Rank) |
| Beta: | 1.34 |
| R-Squared: | 74% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $5487 Mil |
| Fund Total Assets: | $ 2 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 52% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 9.1 years | |||
| Average Tenure: 4.8 years | |||
| Managers (Year): Schommer Nick (2017), Su Edward (2026) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 41 |
| % in Top 10 Holdings: | 45.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 12.5% |
Portfolio Allocation |
|
| Domestic Stock: | 83.5% |
| Foreign Stock: | 12.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.9% |
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: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.50% |
Expenses and Fees | |
| Expense Ratio (%): | 1.37% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.98% |
| Share Class: | Janus Henderson Contrarian D |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
