Janus Henderson MBS Active ETF

Issuer: Janus Henderson

Asset Class: Fixed Income

TER: 28bps

Trading Currency: USD

Pays Income: False

Listing Date: 30 May 2025

Ticker: JMBD

ISIN: IE000RH1ZG27

This actively managed fund seeks to generate a high level of total return, consisting of income and capital appreciation. The strategy focuses primarily on investments in a diversified portfolio of mortgage-backed securities (MBS) and other securitized assets. The investment process is driven by a combination of top-down macroeconomic analysis and bottom-up security selection. The portfolio managers evaluate the broader economic landscape, including interest rate movements, housing market trends, and prepayment speeds, to strategically position the portfolio's overall risk profile and duration.

At the security level, the team conducts in-depth credit research to identify undervalued opportunities across various segments of the securitized market. The portfolio is primarily composed of agency MBS, which are guaranteed by U.S. government-sponsored enterprises, thereby minimizing credit risk. However, the managers have the flexibility to allocate to non-agency MBS, commercial mortgage-backed securities (CMBS), and other asset-backed securities (ABS) to potentially enhance yield and returns. This active approach allows for dynamic adjustments to sector allocations and security selection based on evolving market conditions.

The objective is to provide investors with a core fixed-income solution that can navigate the complexities inherent in the securitized debt market. By actively managing interest rate sensitivity and prepayment risk, the fund aims to deliver a competitive income stream and preserve capital. This makes it a consideration for individuals seeking to diversify their fixed-income holdings with exposure to the U.S. mortgage market, managed by a specialized team focused on uncovering value in this specific asset class.