Fund Evaluator:

JH Adaptive Risk Mgd U.S. Eq D Overview

JH Adaptive Risk Mgd U.S. Eq D (JRSDX) is an actively managed U.S. Equity Large Blend fund. Janus Henderson launched the fund in 2014.

The investment seeks long-term growth of capital. The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of U.S. companies, including, but not limited to, common stocks, depositary receipts. It seeks to achieve market-like returns with lower volatility over a full market cycle than the Russell 1000® Index. The fund seeks to generate such returns with volatility that can range from approximately 0% to 40% lower than the Russell 1000 Index.

About JH Adaptive Risk Mgd U.S. Eq D (JRSDX)

There are 2 members of the management team with an average tenure of 0.16 years: Allan Maymin (2026), Philip Maymin (2026). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Russell 1000 TR USD index with a weighting of 100% and S&P 500 Minimum Volatility TR USD index with a weighting of 100%. JH Adaptive Risk Mgd U.S. Eq D has 83 securities in its portfolio. The top 10 holdings constitute 45.1% 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.

JH Adaptive Risk Mgd U.S. Eq D is part of the Equity global asset class and is within the U.S. Equity fund group. JH Adaptive Risk Mgd U.S. Eq D has 4.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.5%. There is 4.5% 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). JH Adaptive Risk Mgd U.S. Eq D has 0.0% of the portfolio in cash.

Assets Under Management

The fund has $392 million in total assets, which is below the $6 billion average for the Large 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.

JRSDX 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 JH Adaptive Risk Mgd U.S. Eq D expense ratio is above average compared to funds in the Large Blend category. JH Adaptive Risk Mgd U.S. Eq D has an expense ratio of 0.70%, which is 14% 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. JH Adaptive Risk Mgd U.S. Eq D has a portfolio turnover rate of 113%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.

Recently, in the month of June 2026, JH Adaptive Risk Mgd U.S. Eq D returned -1.7%, which earned it a grade of F, as the Large Blend category had an average return of -0.2%. 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.

JH Adaptive Risk Mgd U.S. Eq D has a trailing yield of 0.54%, which is below the 0.56% 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.

JH Adaptive Risk Mgd U.S. Eq D Grades

Year to date, the fund has returned 6.2%, 2.8 percentage points worse than the category, which translates into a grade of D. The fund has returned 15.8% over the past year (grade of D), 15.8% over the past three years (grade of D) and 10.0% per year over the past five years (grade of D) and 11.0% per year over the past 10 years (grade of F).

For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.

Otherwise, for more information about JH Adaptive Risk Mgd U.S. Eq D, including its riskiness, submit your email to unlock the rest of the article.