March 16, 2020 BARRON’S 27
OBJECTIVE:Janus Henderson Short Duration Income ETF (VNLA) seeks to provide a steady income
streamwithcapitalpreservationacrossvariousmarketcycles.TheFundseekstoconsistentlyoutperform
the FTSE 3-Month U.S. Treasury Bill Index by a moderate amount through various market cycles while at
the same time providing low volatility.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.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. 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.TheFundisnotamoneymarketfundanddoesnotattempttomaintainastablenetassetvalue.Actively
managedportfoliosmayfailtoproducetheintendedresults.Noinvestmentstrategycanensureaprofitor
eliminate the risk of loss.ETF shares are not individually redeemable and owners of the shares may acquire those shares from the Fund
andtenderthosesharesforredemptiontotheFundinCreationUnitsonly.The Morningstar Rating
TM
forfunds,or“starrating”,iscalculatedforfundswithatleastathree-yearhistory.
Exchange-traded funds and open-ended mutual funds are considered a single population for comparative
purposes.ItiscalculatedbasedonaMorningstarRisk-AdjustedReturnmeasurethataccountsforvariationina fund’s monthly excess performance, placing more emphasis on downward variations and rewarding
consistentperformance.TheMorningstarRatingdoesnotincludeanyadjustmentforsalesloads.Thetop10%
offundsineachcategoryreceive5stars,thenext22.5%receive4stars,thenext35%receive3stars,thenext
22.5%receive2stars,andthebottom10%receive1star.TheOverallMorningstarRatingforafundisderivedfroma
weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar
Rating metrics. Ratings may vary by share class.Asof12/31/19,Multi-SectorIncomeFundClassISharesMorningstarRatings™intheMultisectorBond
category:5starsoutof262funds,5starsoutof220fundsfor3-,and5-yearperiods,respectively.Asof12/31/19,DevelopedWorldBondFundClassISharesMorningstarRatings™intheWorldBond-USD
Hedgedcategory:4starsoutof72funds,5starsoutof57funds,5starsoutof37fundsforthe3-,5-,and
10-year periods, respectively.Asof12/31/19,JanusHendersonShortDurationIncomeETFVNLAClassISharesMorningstarRatingsTMin
the Ultrashort Bond category: 5 stars out of 161 funds, for the 3-year period.©2019Morningstar,Inc.AllRightsReserved.
Mutual funds distributed by Janus Henderson Distributors.
ETFs distributed by ALPS Distributors, Inc. ALPS is not affiliated with Janus Henderson or any of its
subsidiaries. Janus Henderson and Knowledge. Shared are trademarks of Janus Henderson Group plc or one
ofitssubsidiaries.©JanusHendersonGroupplc.C-0220-29214 04-15-20 166-41-429214 03-20
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.
PURSUE INCOME
MULTI-SECTOR INCOME FUND (JMUIX)
OverallMorningstarRating™basedonrisk-adjustedreturnsoutof262
MultisectorBondfundsasof12/31/19
DEVELOPEDWORLDBONDFUND(HFAIX)
OverallMorningstarRating™basedonrisk-adjustedreturnsoutof72World
Bond–USDHedgedfundsasof12/31/19
SHORTDURATIONINCOMEETF(VNLA)
OverallMorningstarRating™ outof161UltrashortBondfundsasof12/31/19
To overcome uncertainty,
pursue a brighter
outcome with income.
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