Janus Henderson's Securitized Income ETF (JSI) surpasses $1 billion in AUM in less than two years
- The Janus Henderson Mortgage-Backed Securities ETF (JMBS) also reaches over $6bn in AUM
- The firm now has five active fixed income ETFs with over $1bn in AUM each
Janus Henderson Investors (NYSE:JHG) today announced that the Janus Henderson Securitized Income ETF (JSI), which invests in opportunities across the U.S. securitized markets, has surpassed $1 billion in assets under management (AUM) in less than two years after the Fund's launch in November 2023. In addition, the Janus Henderson Mortgage-Backed Securities ETF (JMBS), the largest actively managed mortgage-backed securities ETF1, has reached over $6 billion in AUM.
With JSI surpassing $1 billion in AUM, Janus Henderson now has five active fixed income ETFs with over $1 billion in AUM each. In addition to JSI and JMBS, these include JAAA, the largest CLO ETF2, JBBB, which provides exposure to floating-rate CLOs generally rated BBB, and VNLA, an active global short duration income ETF. Janus Henderson is now the second largest active fixed income ETF provider by AUM3 with over $35 billion.4
Managed by seasoned Portfolio Managers John Kerschner, CFA and Nick Childs, CFA, JSI is Janus Henderson's best ideas securitized ETF fund that seeks to generate high income through exposure to what we believe are the most attractive opportunities on a risk-adjusted basis across the U.S. securitized market. The actively managed Fund invests in sectors including ABS, CMBS, CLOs, Mortgage Credit, and Agency mortgage-backed securities (MBS), among others. These securitized sectors have historically provided diversification benefits within a portfolio, as many investors may have significant underweight allocations to securitized assets given their notable absence in major benchmarks.
Launched in September 2018, JMBS provides actively managed exposure to agency MBS, which have historically provided low correlation to both corporate credit and equities. Agency MBS typically offer a similar credit quality as US Treasuries but with a higher yield, offering the potential for broad portfolio diversification benefits with little to no credit risk. The Fund is managed by Portfolio Managers John Kerschner, Nick Childs, and Thomas Polus, CFA.
John Kerschner, Global Head of Securitized Products & Portfolio Manager at Janus Henderson, said, "These milestones demonstrate the strong investor demand for high-quality securitized ETFs and underscore the importance of active management in fixed income. Investors have been attracted to both JSI and JMBS's potential to offer high income with low credit risk while helping to diversify traditional fixed income portfolios."
Michael Schweitzer, Head of North America Client Group at Janus Henderson, added, "As a pioneer in securitized ETFs, Janus Henderson continues to put our clients first – always by delivering innovative, specialized products that address their needs. By leveraging our portfolio management team's long-standing investment process that focuses on active asset allocation and fundamental research, we're able to offer access to the growing and complex securitized market to a broader, burgeoning investor base."
Janus Henderson has been at the forefront of active ETF innovation and offers a number of pioneering ETFs. In addition to JAAA, JBBB, JSI, JMBS, and VNLA, Janus Henderson's active fixed income ETFs include the recently launched JABS ETF, which invests in investment grade asset-backed securities, JEMB, the largest actively managed emerging market debt hard currency ETF5, and JIII, a high income ETF. In Equities, Janus Henderson's active ETFs include JXX, a concentrated, high-conviction large cap ETF, JSML, a Small Cap Growth Alpha ETF, JMID a Mid Cap Growth Alpha ETF, JSMD, a Small/Mid Cap Growth Alpha ETF, and JRE, a U.S. real estate ETF. The firm won ETF.com's Active ETF of the Year award in 20256 and Global Capital's CLO ETF Provider of the Year award in 2024 and 2025.7
1 Source: Bloomberg, as of August 1, 2025
2 Morningstar Asset Flows based on U.S. markets as June 30, 2025, and Janus Henderson analysis
3 Source: Bloomberg, as of August 1, 2025
4 Source: Bloomberg, as of August 1, 2025
5 Source: Bloomberg, as of July 25, 2025
6 etf.com Award winners are selected in a three-part process designed to leverage the insights and opinions of leaders throughout the ETF industry. To view award criteria and methodology, please visit: 2025 etf.com awards
7 The CLO ETF Provider of the Year is chosen at Global Capital's discretion and is based on a process that includes both self-submitted applications, independent research conducted by the awarding body, and market poll. Global Capital evaluates organizations based on their involvement in innovative or complex transactions, execution quality and structuring, business growth and advancement, and the extent of their securitization capabilities.
Notes to editors
Janus Henderson Group is a leading global active asset manager dedicated to helping clients define and achieve superior financial outcomes through insights, disciplined investments, and world-class service. As of June 30, 2025, Janus Henderson had approximately US$457 billion in assets under management, more than 2,000 employees, and offices in 25 cities worldwide. The firm helps millions of people globally invest in a brighter future together. Headquartered in London, Janus Henderson is listed on the New York Stock Exchange.
Source: Janus Henderson Group plc
Please consider the charges, risks, expenses, and investment objectives carefully before investing. For a prospectus or, if available, a summary prospectus containing this and other information, please call Janus Henderson at 800.668.0434 or download the file from janushenderson.com/info. Read it carefully before you invest or send money.
Investing involves risk, including the possible loss of principal and fluctuation of value. Past performance is no guarantee of future results. There is no assurance the stated objective(s) will be met.
Fixed income securities are subject to interest rate, inflation, credit and default risk. The bond market is volatile. As interest rates rise, bond prices usually fall, and vice versa. The return of principal is not guaranteed, and prices may decline if an issuer fails to make timely payments or its credit strength weakens.
Securitized products, such as mortgage- and asset-backed securities, are more sensitive to interest rate changes, have extension and prepayment risk, and are subject to more credit, valuation and liquidity risk than other fixed-income securities.
JMBS and JSI will typically enter into "to be announced" or "TBA" commitments when purchasing MBS, which allows the Fund to agree to pay for certain yet-to-be issued securities at a future date and which may have a leveraging effect on the Fund.
Funds classified as "nondiversified" can take larger positions in a smaller number of issuers than "diversified" funds, which could lead to greater volatility.
Increased portfolio turnover may result in higher expenses and potentially higher net taxable gains or losses.
Mortgage-backed securities (MBS) may be more sensitive to interest rate changes. They are subject to extension risk, where borrowers extend the duration of their mortgages as interest rates rise, and prepayment risk, where borrowers pay off their mortgages earlier as interest rates fall. These risks may reduce returns.
JMBS may enter into reverse repurchase agreement transactions and use the cash made available from these transactions to make additional investments in mortgage-related instruments or other fixed-income securities.
Foreign securities are subject to additional risks including currency fluctuations, political and economic uncertainty, increased volatility, lower liquidity and differing financial and information reporting standards, all of which are magnified in emerging markets.
VNLA is not a money market fund and does not attempt to maintain a stable net asset value.
ESG Integration Risk. There is a risk that considering ESG Factors as part of the Fund's investment process may fail to produce the intended results or that the Fund may perform differently from funds that have a similar investment style but do not formally incorporate such considerations in their strategy. Information related to ESG Factors provided by issuers and third parties, which portfolio management may utilize, continues to develop, and may be incomplete or inaccurate, use different methodologies, or be applied differently across issuers and industries.
High-yield or "junk" bonds involve a greater risk of default and price volatility and can experience sudden and sharp price swings.
Sovereign debt securities are subject to the additional risk that, under some political, diplomatic, social or economic circumstances, some developing countries that issue lower quality debt securities may be unable or unwilling to make principal or interest payments as they come due.
Bank loans often involve borrowers with low credit ratings whose financial conditions are troubled or uncertain, including companies that are highly leveraged or in bankruptcy proceedings.
Fixed income securities are subject to interest rate, inflation, credit and default risk. The bond market is volatile. As interest rates rise, bond prices usually fall, and vice versa. The return of principal is not guaranteed, and prices may decline if an issuer fails to make timely payments or its credit strength weakens.
Growth stocks are subject to increased risk of loss and price volatility and may not realize their perceived growth potential.
Funds classified as "nondiversified" can take larger positions in a smaller number of issuers than "diversified" funds, which could lead to greater volatility.
Equity securities are subject to risks including market risk. Returns will fluctuate in response to issuer, political and economic developments.
Industry and Sector Risk. Investing a significant portion of its assets in companies in the same industry or economic sector can make the Fund more vulnerable to unfavorable developments than funds that invest more broadly. A more concentrated portfolio can be susceptible to factors affecting that group and may be more volatile than less concentrated investments or the market as a whole.
Smaller capitalization securities may be less stable and more susceptible to adverse developments and may be more volatile and less liquid than larger capitalization securities.
Real estate securities, including Real Estate Investment Trusts (REITs), are sensitive to changes in real estate values and rental income, property taxes, interest rates, tax and regulatory requirements, supply and demand, and the management skill and creditworthiness of the company. Additionally REITs could fail to qualify for certain tax-benefits or registration exemptions which could produce adverse economic consequences.
Initial Public Offerings (IPOs) are highly speculative investments and may be subject to lower liquidity and greater volatility. Special risks associated with IPOs include limited operating history, unseasoned trading, high turnover and non-repeatable performance.
ESG Integration. As part of its investment process, portfolio management considers ESG risks and opportunities ("ESG Factors") that it believes are financially material, alongside other fundamental investment factors. Examples of potential financially material ESG Factors include corporate governance, company culture, exposure to climate change, and human capital management. To assess ESG Factors, portfolio management uses issuer reports, third-party data, and internally-generated analyses and may engage directly with issuers. ESG Factors are one of many considerations in the investment decision-making process and may not be determinative in deciding to include or exclude an investment from the portfolio.
ESG Investment Risk. Because the Fund considers environmental, social, and governance ("ESG") factors in selecting securities, the Fund may perform differently than funds that do not consider ESG factors. Due to the ESG considerations and exclusionary criteria employed by the Fund, the Fund may not be invested in certain industries or sectors, and therefore may have lower performance than portfolios that do not apply similar criteria. ESG-related information provided by issuers and third parties, which portfolio management may utilize, continues to develop, and may be incomplete, inaccurate, use different methodologies, or be applied differently across companies and industries. As the regulatory landscape around responsible investing continues to evolve across regions, future rules and regulations may require the Fund to modify or alter its investment process. The risk that the Fund may be required to sell securities when it might be otherwise disadvantageous to do so is heightened when ESG considerations and exclusionary criteria are applied.
JSI OBJECTIVE: Janus Henderson Securitized Income ETF seeks current income with a focus on preservation of capital.
JAAA OBJECTIVE: Janus Henderson AAA CLO ETF (JAAA) seeks capital preservation and current income by seeking to deliver floating-rate exposure to high quality AAA-rated collateralized loan obligations ("CLOs").
Collateralized Loan Obligations (CLOs) are debt securities issued in different tranches, with varying degrees of risk, and backed by an underlying portfolio consisting primarily of below investment grade corporate loans. The return of principal is not guaranteed, and prices may decline if payments are not made timely or credit strength weakens. CLOs are subject to liquidity risk, interest rate risk, credit risk, call risk and the risk of default of the underlying assets.
Concentrated investments in a single sector, industry or region will be more susceptible to factors affecting that group and may be more volatile than less concentrated investments or the market as a whole. Derivatives can be highly volatile and more sensitive to changes in economic or market conditions than other investments. This could result in losses that exceed the original investment and may be magnified by leverage. Actively managed portfolios may fail to produce the intended results. No investment strategy can ensure a profit or eliminate the risk of loss.
Derivatives can be more volatile and sensitive to economic or market changes than other investments, which could result in losses exceeding the original investment and magnified by leverage.
Actively managed portfolios may fail to produce the intended results. No investment strategy can ensure a profit or eliminate the risk of loss.
Diversification neither assures a profit nor eliminates the risk of experiencing investment losses.
Credit quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Ratings may differ by rating agency.
Janus Henderson Investors US LLC is the investment adviser and ALPS Distributors, Inc. is the distributor. ALPS is not affiliated with Janus Henderson or any of its subsidiaries.
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