|
Institutional
Shares
Ticker |
Fixed
Income | |
Janus
Henderson Flexible Bond Portfolio
|
JAFLX |
Global
& International | |
Janus
Henderson Global Research Portfolio
|
JAWGX |
Janus
Henderson Global Sustainable Equity Portfolio
|
JHISX |
Janus
Henderson Overseas Portfolio
|
JAIGX |
Growth
& Core | |
Janus
Henderson Balanced Portfolio
|
JABLX |
Janus
Henderson Enterprise Portfolio
|
JAAGX |
Janus
Henderson Forty Portfolio
|
JACAX |
Janus
Henderson Research Portfolio
|
JAGRX |
Specialty
Equity | |
Janus
Henderson Global Technology and Innovation Portfolio
|
JGLTX |
Value | |
Janus
Henderson Mid Cap Value Portfolio
|
JAMVX |
Portfolio
summary |
|
Janus
Henderson Flexible Bond Portfolio
|
2 |
Janus
Henderson Global Research Portfolio
|
8 |
Janus
Henderson Global Sustainable Equity Portfolio
|
13 |
Janus
Henderson Overseas Portfolio
|
19 |
Janus
Henderson Balanced Portfolio
|
25 |
Janus
Henderson Enterprise Portfolio
|
31 |
Janus
Henderson Forty Portfolio
|
35 |
Janus
Henderson Research Portfolio
|
39 |
Janus
Henderson Global Technology and Innovation Portfolio
|
44 |
Janus
Henderson Mid Cap Value Portfolio
|
49 |
Additional
information about the Portfolios |
|
Fees
and expenses
|
53 |
Additional
investment strategies and general portfolio policies
|
53 |
Risks
of the Portfolios
|
63 |
Management
of the Portfolios |
|
Investment
adviser
|
75 |
Management
expenses
|
75 |
Portfolio
management
|
78 |
Other
information
|
83 |
Distributions
and taxes
|
84 |
Shareholder’s
guide |
|
Pricing
of portfolio shares
|
85 |
Administrative
fees
|
86 |
Payments
to financial intermediaries by the Adviser or its affiliates
|
86 |
Purchases
|
87 |
Redemptions
|
88 |
Excessive
trading
|
89 |
Shareholder
communications
|
91 |
Financial
highlights
|
92 |
Glossary
of investment terms
|
102 |
Ticker: |
JAFLX |
Institutional
Shares |
|
|
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value of your
investment) |
|
|
Management
Fees |
|
0.50% |
Other
Expenses |
|
0.14% |
Total
Annual Fund Operating Expenses |
|
0.64% |
Fee
Waiver and/or Expense Reimbursement(1) |
|
0.07% |
Total
Annual Fund Operating Expenses After Fee Waiver and/or Expense
Reimbursement(1) |
|
0.57% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Institutional
Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Institutional Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/23) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(9/13/93) |
Flexible
Bond Portfolio | ||||
Institutional
Shares |
5.50% |
1.79% |
1.91% |
5.32% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for fees, expenses, or taxes) |
5.53% |
1.10% |
1.81% |
4.35% |
Management |
Purchase
and sale of Portfolio shares |
Tax
information |
Payments
to Insurers, Broker-Dealers, and other financial
intermediaries |
Ticker: |
JAWGX |
Institutional
Shares |
|
|
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value of your
investment) |
|
|
Management
Fees(1) |
|
0.52% |
Other
Expenses |
|
0.09% |
Total
Annual Fund Operating Expenses |
|
0.61% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Institutional
Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Institutional Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/23) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(9/13/93) |
Global
Research Portfolio | ||||
Institutional
Shares |
26.78% |
13.33% |
9.01% |
8.68% |
MSCI
World Indexsm
(reflects
no deduction for fees, expenses, or taxes, except foreign withholding
taxes) |
23.79% |
12.80% |
8.60% |
7.52% |
MSCI
All Country World Indexsm
(reflects
no deduction for fees, expenses, or taxes, except foreign withholding
taxes) |
22.20% |
11.72% |
7.93% |
N/A |
Management |
Purchase
and sale of Portfolio shares |
Tax
information |
Payments
to Insurers, Broker-Dealers, and other financial
intermediaries |
Ticker: |
JHISX |
Institutional
Shares |
|
|
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value of your
investment) |
|
|
Management
Fees |
|
0.75% |
Other
Expenses |
|
3.51% |
Total
Annual Fund Operating Expenses |
|
4.26% |
Fee
Waiver and/or Expense Reimbursement(1) |
|
3.39% |
Total
Annual Fund Operating Expenses After Fee Waiver and/or Expense
Reimbursement(1) |
|
0.87% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Institutional
Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Institutional Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/23) |
|
|
|
1
Year |
Since
Inception
(1/26/22) |
Global
Sustainable Equity Portfolio | ||
Institutional
Shares |
23.32% |
2.81% |
MSCI
World Indexsm
(reflects
no deduction for fees, expenses, or taxes, except foreign withholding
taxes) |
23.79% |
4.99% |
Management |
Purchase
and sale of Portfolio shares |
Tax
information |
Payments
to Insurers, Broker-Dealers, and other financial
intermediaries |
Ticker: |
JAIGX |
Institutional
Shares |
|
|
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value of your
investment) |
|
|
Management
Fees(1)
|
|
0.79% |
Other
Expenses |
|
0.10% |
Total
Annual Fund Operating Expenses |
|
0.89% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Institutional
Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Institutional Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/23) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(5/2/94) |
Overseas
Portfolio | ||||
Institutional
Shares |
10.87% |
11.20% |
3.63% |
8.30% |
MSCI
All Country World ex-USA Indexsm
(reflects
no deduction for fees, expenses, or taxes, except foreign withholding
taxes) |
15.62% |
7.08% |
3.83% |
N/A |
Management |
Purchase
and sale of Portfolio shares |
Tax
information |
Payments
to Insurers, Broker-Dealers, and other financial
intermediaries |
Ticker: |
JABLX |
Institutional
Shares |
|
|
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value of your
investment) |
|
|
Management
Fees |
|
0.55% |
Other
Expenses |
|
0.07% |
Total
Annual Fund Operating Expenses |
|
0.62% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Institutional
Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Institutional Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/23) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(9/13/93) |
Balanced
Portfolio | ||||
Institutional
Shares |
15.41% |
9.64% |
7.99% |
9.57% |
S&P
500®
Index
(reflects
no deduction for fees, expenses, or taxes) |
26.29% |
15.69% |
12.03% |
10.11% |
Bloomberg
U.S. Aggregate Bond Index
(reflects
no deduction for fees, expenses, or taxes) |
5.53% |
1.10% |
1.81% |
4.35% |
Balanced
Index
(reflects
no deduction for fees, expenses, or taxes) |
16.62% |
9.26% |
7.59% |
7.77% |
Management |
Purchase
and sale of Portfolio shares |
Tax
information |
Payments
to Insurers, Broker-Dealers, and other financial
intermediaries |
Ticker: |
JAAGX |
Institutional
Shares |
|
|
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value of your
investment) |
|
|
Management
Fees |
|
0.64% |
Other
Expenses |
|
0.08% |
Total
Annual Fund Operating Expenses |
|
0.72% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Institutional
Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Institutional Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/23) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(9/13/93) |
Enterprise
Portfolio | ||||
Institutional
Shares |
18.07% |
13.42% |
12.10% |
11.05% |
Russell
Midcap®
Growth Index
(reflects
no deduction for fees, expenses, or taxes) |
25.87% |
13.81% |
10.57% |
9.97% |
Management |
Purchase
and sale of Portfolio shares |
Tax
information |
Payments
to Insurers, Broker-Dealers, and other financial
intermediaries |
Ticker: |
JACAX |
Institutional
Shares |
|
|
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value of your
investment) |
|
|
Management
Fees(1)
|
|
0.48% |
Other
Expenses |
|
0.07% |
Total
Annual Fund Operating Expenses |
|
0.55% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Institutional
Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Institutional Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/23) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(5/1/97) |
Forty
Portfolio | ||||
Institutional
Shares |
39.96% |
16.92% |
13.73% |
12.07% |
Russell
1000®
Growth Index
(reflects
no deduction for fees, expenses, or taxes) |
42.68% |
19.50% |
14.86% |
9.43% |
S&P
500®
Index
(reflects
no deduction for fees, expenses, or taxes) |
26.29% |
15.69% |
12.03% |
8.93% |
Management |
Purchase
and sale of Portfolio shares |
Tax
information |
Payments
to Insurers, Broker-Dealers, and other financial
intermediaries |
Ticker: |
JAGRX |
Institutional
Shares |
|
|
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value of your
investment) |
|
|
Management
Fees(1)
|
|
0.47% |
Other
Expenses |
|
0.10% |
Total
Annual Fund Operating Expenses |
|
0.57% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Institutional
Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Institutional Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/23) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(9/13/93) |
Research
Portfolio | ||||
Institutional
Shares |
43.17% |
16.83% |
12.49% |
9.42% |
Russell
1000®
Growth Index
(reflects
no deduction for fees, expenses, or taxes) |
42.68% |
19.50% |
14.86% |
10.63% |
S&P
500®
Index
(reflects
no deduction for fees, expenses, or taxes) |
26.29% |
15.69% |
12.03% |
10.11% |
Management |
Purchase
and sale of Portfolio shares |
Tax
information |
Payments
to Insurers, Broker-Dealers, and other financial
intermediaries |
Ticker: |
JGLTX |
Institutional
Shares |
|
|
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value of your
investment) |
|
|
Management
Fees |
|
0.64% |
Other
Expenses |
|
0.09% |
Total
Annual Fund Operating Expenses |
|
0.73% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Institutional
Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Institutional Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/23) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(1/18/00) |
Global
Technology and Innovation Portfolio | ||||
Institutional
Shares |
54.55% |
20.34% |
17.14% |
6.25% |
S&P
500®
Index
(reflects
no deduction for fees, expenses, or taxes) |
26.29% |
15.69% |
12.03% |
7.09% |
MSCI
All Country World Information Technology Index
(reflects
no deduction for fees, expenses, or taxes, except foreign withholding
taxes) |
51.02% |
23.18% |
17.58% |
5.83% |
Management |
Purchase
and sale of Portfolio shares |
Tax
information |
Payments
to Insurers, Broker-Dealers, and other financial
intermediaries |
Ticker: |
JAMVX |
Institutional
Shares |
|
|
ANNUAL
FUND OPERATING EXPENSES
(expenses
that you pay each year as a percentage of the value of your
investment) |
|
|
Management
Fees(1)
|
|
0.50% |
Other
Expenses |
|
0.19% |
Total
Annual Fund Operating Expenses |
|
0.69% |
Fee
Waiver and/or Expense Reimbursement(2) |
|
0.01% |
Total
Annual Fund Operating Expenses After Fee Waiver and/or Expense
Reimbursement(2)
|
|
0.68% |
|
1
Year |
3
Years |
5
Years |
10
Years |
Institutional
Shares |
$ |
$ |
$ |
$ |
|
|
|
Annual
Total Returns for Institutional Shares
(calendar year-end) |
|
|
|
|
|
|
|
Average
Annual Total Returns
(periods ended 12/31/23) |
|
|
|
|
|
1
Year |
5
Years |
10
Years |
Since
Inception
(5/1/03) |
Mid
Cap Value Portfolio | ||||
Institutional
Shares |
11.40% |
10.22% |
7.18% |
9.63% |
Russell
Midcap®
Value Index
(reflects
no deduction for fees, expenses, or taxes) |
12.71% |
11.16% |
8.26% |
10.50% |
Management |
Purchase
and sale of Portfolio shares |
Tax
information |
Payments
to Insurers, Broker-Dealers, and other financial
intermediaries |
Fees
and expenses |
Additional
investment strategies and general portfolio
policies |
Risks
of the Portfolios |
Investment
adviser |
Management
expenses |
Portfolio
Name |
Average
Daily
Net
Assets
of
the Portfolio |
Contractual
Investment
Advisory
Fee (%)
(annual
rate) |
Actual
Compensation
Rate
Paid
to Adviser (%)
(for
the fiscal year ended
December
31, 2023) |
Fixed
Income |
|
|
|
Flexible
Bond Portfolio |
First $300
Million |
0.55 |
0.44 |
|
Over $300
Million |
0.45 |
|
Global
& International |
|
|
|
Global
Sustainable Equity Portfolio |
First $2
Billion |
0.75 |
0.00
(1) |
|
Over $2
Billion |
0.70 |
|
Growth
& Core |
|
|
|
Balanced
Portfolio |
All Asset
Levels |
0.55 |
0.55 |
Enterprise
Portfolio |
All Asset
Levels |
0.64 |
0.64 |
Specialty
Equity |
|
|
|
Global
Technology and Innovation Portfolio |
All Asset
Levels |
0.64 |
0.64 |
Portfolio
Name |
Base
Fee
Rate
(%) |
Full
Performance
Rate
vs.
Benchmark
Index |
Performance
Adjusted
Investment
Advisory
Fee
Rate
(%) |
Actual
Compensation
Rate
Paid
to Adviser (%)
(for
the fiscal year ended
December
31, 2023) |
Global
Research Portfolio |
0.60 |
± 6.00% |
0.52 |
0.52 |
Mid
Cap Value Portfolio |
0.64 |
± 4.00% |
0.50 |
0.50 |
Research
Portfolio |
0.64 |
± 5.00% |
0.47 |
0.47 |
Overseas
Portfolio |
0.64 |
± 7.00% |
0.79 |
0.79 |
Forty
Portfolio |
0.64 |
± 8.50% |
0.48 |
0.48 |
Portfolio
Name |
Benchmark
Index |
Global
Research Portfolio |
MSCI
World Index |
Mid
Cap Value Portfolio |
Russell
Midcap Value Index |
Research
Portfolio |
Russell
1000 Growth Index |
Overseas
Portfolio |
MSCI
All Country World ex-USA Index |
Forty
Portfolio |
Russell
1000 Growth Index |
Portfolio
Name |
Expense
Limit
Percentage
(%) |
Fixed
Income |
|
Flexible
Bond Portfolio |
0.52 |
Global
& International |
|
Global
Sustainable Equity Portfolio(1) |
0.80 |
Specialty
Equity |
|
Global
Technology and Innovation Portfolio |
0.95 |
Value |
|
Mid
Cap Value Portfolio(2) |
0.77 |
Portfolio
management |
Classes
of Shares |
Closed
Portfolio Policies |
Liquidation/Reorganization
of a Portfolio |
DISTRIBUTION
OF THE Portfolios |
Distributions |
TAXES |
Pricing
of portfolio shares |
Administrative
fees |
Payments
to financial intermediaries by the Adviser or its
affiliates |
Purchases |
Redemptions |
Excessive
trading |
Availability
of Portfolio Holdings
Information |
Shareholder
communications |
|
Years ended
December 31 | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Period |
$9.94 |
$12.05 |
$12.75 |
$11.88 |
$11.21 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.41 |
0.26 |
0.21 |
0.28 |
0.34 |
Net
realized and unrealized gain/(loss) |
0.14 |
(1.90) |
(0.33) |
0.96 |
0.72 |
Total
from Investment Operations |
0.55 |
(1.64) |
(0.12) |
1.24 |
1.06 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.43) |
(0.27) |
(0.25) |
(0.37) |
(0.39) |
Distributions
(from capital gains) |
— |
(0.20) |
(0.33) |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.43) |
(0.47) |
(0.58) |
(0.37) |
(0.39) |
Net
Asset Value, End of Period |
$10.06 |
$9.94 |
$12.05 |
$12.75 |
$11.88 |
Total
Return* |
5.61% |
(13.66)% |
(0.90)% |
10.48% |
9.57% |
Net
Assets, End of Period (in thousands) |
$115,746 |
$107,682 |
$136,115 |
$145,792 |
$162,620 |
Average
Net Assets for the Period (in thousands) |
$111,973 |
$115,525 |
$137,695 |
$156,575 |
$208,624 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.64% |
0.60% |
0.59% |
0.60% |
0.60% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.57% |
0.57% |
0.58% |
0.59% |
0.60% |
Ratio
of Net Investment Income/(Loss) |
4.07% |
2.37% |
1.72% |
2.28% |
2.89% |
Portfolio
Turnover Rate(2) |
203% |
182% |
160% |
139% |
177% |
|
Years ended
December 31 | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Period |
$50.02 |
$71.28 |
$63.62 |
$56.59 |
$47.13 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.52 |
0.53 |
0.39 |
0.39 |
0.60 |
Net
realized and unrealized gain/(loss) |
12.67 |
(14.52) |
10.90 |
10.04 |
12.67 |
Total
from Investment Operations |
13.19 |
(13.99) |
11.29 |
10.43 |
13.27 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.52) |
(0.60) |
(0.36) |
(0.41) |
(0.54) |
Distributions
(from capital gains) |
(1.59) |
(6.67) |
(3.27) |
(2.99) |
(3.27) |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(2.11) |
(7.27) |
(3.63) |
(3.40) |
(3.81) |
Net
Asset Value, End of Period |
$61.10 |
$50.02 |
$71.28 |
$63.62 |
$56.59 |
Total
Return* |
26.78% |
(19.41)% |
18.09% |
20.06% |
29.04% |
Net
Assets, End of Period (in thousands) |
$573,846 |
$482,188 |
$653,853 |
$600,868 |
$539,915 |
Average
Net Assets for the Period (in thousands) |
$525,567 |
$529,234 |
$636,425 |
$516,468 |
$511,859 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.61% |
0.64% |
0.77% |
0.84% |
0.79% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.61% |
0.64% |
0.77% |
0.84% |
0.79% |
Ratio
of Net Investment Income/(Loss) |
0.94% |
0.98% |
0.57% |
0.72% |
1.13% |
Portfolio
Turnover Rate |
25% |
32% |
20% |
33% |
36% |
|
Years ended
December 31 | |
|
2023 |
2022(1) |
Net
Asset Value, Beginning of Period |
$8.50 |
$10.00 |
Income/(Loss)
from Investment Operations: |
|
|
Net
investment income/(loss)(2) |
0.06 |
0.04 |
Net
realized and unrealized gain/(loss) |
1.92 |
(1.48) |
Total
from Investment Operations |
1.98 |
(1.44) |
Less
Dividends and Distributions: |
|
|
Dividends
(from net investment income) |
(0.04) |
(0.06) |
Distributions
(from capital gains) |
— |
— |
Return
of capital |
— |
— |
Total
Dividends and Distributions |
(0.04) |
(0.06) |
Net
Asset Value, End of Period |
$10.44 |
$8.50 |
Total
Return* |
23.32% |
(14.46)% |
Net
Assets, End of Period (in thousands) |
$3,451 |
$2,140 |
Average
Net Assets for the Period (in thousands) |
$2,677 |
$2,254 |
Ratios
to Average Net Assets**: |
|
|
Ratio
of Gross Expenses |
4.25% |
4.91% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.88% |
0.93% |
Ratio
of Net Investment Income/(Loss) |
0.61% |
0.47% |
Portfolio
Turnover Rate |
17% |
15% |
|
Years ended
December 31 | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Period |
$38.52 |
$42.92 |
$38.21 |
$33.29 |
$26.71 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.61 |
0.74 |
0.58 |
0.36 |
0.60 |
Net
realized and unrealized gain/(loss) |
3.55 |
(4.46) |
4.62 |
4.99 |
6.56 |
Total
from Investment Operations |
4.16 |
(3.72) |
5.20 |
5.35 |
7.16 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.62) |
(0.68) |
(0.49) |
(0.43) |
(0.58) |
Distributions
(from capital gains) |
— |
— |
— |
— |
— |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.62) |
(0.68) |
(0.49) |
(0.43) |
(0.58) |
Net
Asset Value, End of Period |
$42.06 |
$38.52 |
$42.92 |
$38.21 |
$33.29 |
Total
Return* |
10.85% |
(8.63)% |
13.61% |
16.30% |
27.02% |
Net
Assets, End of Period (in thousands) |
$150,156 |
$144,544 |
$170,166 |
$159,005 |
$165,881 |
Average
Net Assets for the Period (in thousands) |
$149,669 |
$147,074 |
$168,216 |
$138,082 |
$154,209 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.89% |
0.89% |
0.87% |
0.83% |
0.75% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.89% |
0.89% |
0.87% |
0.83% |
0.75% |
Ratio
of Net Investment Income/(Loss) |
1.50% |
1.91% |
1.38% |
1.15% |
2.00% |
Portfolio
Turnover Rate |
30% |
36% |
21% |
21% |
23% |
|
Years ended
December 31 | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Period |
$40.01 |
$50.23 |
$43.58 |
$39.48 |
$33.75 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.91 |
0.57 |
0.42 |
0.61 |
0.74 |
Net
realized and unrealized gain/(loss) |
5.27 |
(8.87) |
7.03 |
4.86 |
6.74 |
Total
from Investment Operations |
6.18 |
(8.30) |
7.45 |
5.47 |
7.48 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.91) |
(0.54) |
(0.43) |
(0.73) |
(0.72) |
Distributions
(from capital gains) |
— |
(1.38) |
(0.37) |
(0.64) |
(1.03) |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.91) |
(1.92) |
(0.80) |
(1.37) |
(1.75) |
Net
Asset Value, End of Period |
$45.28 |
$40.01 |
$50.23 |
$43.58 |
$39.48 |
Total
Return* |
15.53% |
(16.50)% |
17.22% |
14.31% |
22.59% |
Net
Assets, End of Period (in thousands) |
$418,783 |
$391,354 |
$512,742 |
$464,280 |
$446,026 |
Average
Net Assets for the Period (in thousands) |
$402,180 |
$427,360 |
$484,461 |
$430,893 |
$426,775 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.62% |
0.62% |
0.62% |
0.62% |
0.62% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.62% |
0.62% |
0.62% |
0.62% |
0.62% |
Ratio
of Net Investment Income/(Loss) |
2.14% |
1.32% |
0.91% |
1.54% |
1.99% |
Portfolio
Turnover Rate(2) |
97% |
89% |
56% |
80% |
79% |
|
Years ended
December 31 | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Period |
$69.58 |
$100.51 |
$94.21 |
$85.46 |
$67.02 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.36 |
0.20 |
0.22 |
0.20 |
0.29 |
Net
realized and unrealized gain/(loss) |
11.85 |
(16.86) |
14.99 |
14.53 |
23.06 |
Total
from Investment Operations |
12.21 |
(16.66) |
15.21 |
14.73 |
23.35 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.12) |
(0.17) |
(0.33) |
(0.06) |
(0.16) |
Distributions
(from capital gains) |
(5.15) |
(14.10) |
(8.58) |
(5.92) |
(4.75) |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(5.27) |
(14.27) |
(8.91) |
(5.98) |
(4.91) |
Net
Asset Value, End of Period |
$76.52 |
$69.58 |
$100.51 |
$94.21 |
$85.46 |
Total
Return* |
18.07% |
(15.94)% |
16.83% |
19.47% |
35.48% |
Net
Assets, End of Period (in thousands) |
$636,056 |
$565,810 |
$736,679 |
$768,141 |
$791,044 |
Average
Net Assets for the Period (in thousands) |
$602,500 |
$622,822 |
$763,345 |
$699,442 |
$707,052 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.72% |
0.72% |
0.71% |
0.72% |
0.72% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.72% |
0.72% |
0.71% |
0.72% |
0.72% |
Ratio
of Net Investment Income/(Loss) |
0.49% |
0.28% |
0.22% |
0.25% |
0.37% |
Portfolio
Turnover Rate |
13% |
15% |
17% |
16% |
14% |
|
Years ended
December 31 | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Period |
$33.89 |
$61.75 |
$57.00 |
$44.38 |
$35.20 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.16 |
0.10 |
(0.15) |
(0.01) |
0.09 |
Net
realized and unrealized gain/(loss) |
13.38 |
(20.82) |
12.39 |
16.29 |
12.55 |
Total
from Investment Operations |
13.54 |
(20.72) |
12.24 |
16.28 |
12.64 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.08) |
(0.07) |
— |
(0.14) |
(0.06) |
Distributions
(from capital gains) |
— |
(7.07) |
(7.49) |
(3.52) |
(3.40) |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.08) |
(7.14) |
(7.49) |
(3.66) |
(3.46) |
Net
Asset Value, End of Period |
$47.35 |
$33.89 |
$61.75 |
$57.00 |
$44.38 |
Total
Return* |
39.96% |
(33.55)% |
22.90% |
39.40% |
37.16% |
Net
Assets, End of Period (in thousands) |
$418,209 |
$317,938 |
$523,822 |
$462,216 |
$362,001 |
Average
Net Assets for the Period (in thousands) |
$372,301 |
$374,815 |
$497,818 |
$389,419 |
$337,416 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.55% |
0.55% |
0.77% |
0.76% |
0.77% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.55% |
0.55% |
0.77% |
0.76% |
0.77% |
Ratio
of Net Investment Income/(Loss) |
0.39% |
0.25% |
(0.25)% |
(0.02)% |
0.23% |
Portfolio
Turnover Rate |
36% |
39% |
31% |
41% |
35% |
|
Years ended
December 31 | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Period |
$31.58 |
$56.31 |
$49.35 |
$40.79 |
$33.70 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.06 |
0.09 |
(0.01) |
0.14 |
0.21 |
Net
realized and unrealized gain/(loss) |
13.57 |
(16.93) |
9.73 |
12.20 |
11.26 |
Total
from Investment Operations |
13.63 |
(16.84) |
9.72 |
12.34 |
11.47 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.06) |
(0.06) |
(0.05) |
(0.18) |
(0.18) |
Distributions
(from capital gains) |
— |
(7.83) |
(2.71) |
(3.60) |
(4.20) |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.06) |
(7.89) |
(2.76) |
(3.78) |
(4.38) |
Net
Asset Value, End of Period |
$45.15 |
$31.58 |
$56.31 |
$49.35 |
$40.79 |
Total
Return* |
43.17% |
(29.89)% |
20.33% |
32.95% |
35.52% |
Net
Assets, End of Period (in thousands) |
$436,336 |
$334,877 |
$519,679 |
$474,525 |
$398,888 |
Average
Net Assets for the Period (in thousands) |
$389,723 |
$389,504 |
$496,858 |
$414,413 |
$374,004 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.57% |
0.56% |
0.60% |
0.60% |
0.59% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.57% |
0.56% |
0.60% |
0.60% |
0.59% |
Ratio
of Net Investment Income/(Loss) |
0.16% |
0.24% |
(0.01)% |
0.33% |
0.55% |
Portfolio
Turnover Rate |
27% |
30% |
33% |
33% |
38% |
|
Years ended
December 31 | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Period |
$10.34 |
$20.75 |
$20.34 |
$14.88 |
$11.06 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
—(2) |
(0.02) |
(0.05) |
(0.01) |
0.02 |
Net
realized and unrealized gain/(loss) |
5.64 |
(7.60) |
3.47 |
7.04 |
4.81 |
Total
from Investment Operations |
5.64 |
(7.62) |
3.42 |
7.03 |
4.83 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
— |
— |
(0.05) |
— |
— |
Distributions
(from capital gains) |
— |
(2.79) |
(2.96) |
(1.57) |
(1.01) |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
— |
(2.79) |
(3.01) |
(1.57) |
(1.01) |
Net
Asset Value, End of Period |
$15.98 |
$10.34 |
$20.75 |
$20.34 |
$14.88 |
Total
Return* |
54.55% |
(36.95)% |
18.01% |
51.20% |
45.17% |
Net
Assets, End of Period (in thousands) |
$54,674 |
$34,566 |
$59,208 |
$51,009 |
$34,515 |
Average
Net Assets for the Period (in thousands) |
$45,325 |
$41,432 |
$56,037 |
$39,592 |
$30,035 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.73% |
0.72% |
0.72% |
0.75% |
0.75% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.73% |
0.72% |
0.72% |
0.75% |
0.75% |
Ratio
of Net Investment Income/(Loss) |
(0.02)% |
(0.14)% |
(0.25)% |
(0.07)% |
0.11% |
Portfolio
Turnover Rate |
41% |
43% |
47% |
44% |
30% |
|
Years ended
December 31 | ||||
|
2023 |
2022 |
2021 |
2020 |
2019 |
Net
Asset Value, Beginning of Period |
$16.36 |
$19.12 |
$16.04 |
$16.73 |
$14.08 |
Income/(Loss)
from Investment Operations: |
|
|
|
|
|
Net
investment income/(loss)(1) |
0.19 |
0.18 |
0.16 |
0.18 |
0.21 |
Net
realized and unrealized gain/(loss) |
1.63 |
(1.34) |
3.00 |
(0.41) |
3.90 |
Total
from Investment Operations |
1.82 |
(1.16) |
3.16 |
(0.23) |
4.11 |
Less
Dividends and Distributions: |
|
|
|
|
|
Dividends
(from net investment income) |
(0.19) |
(0.23) |
(0.08) |
(0.18) |
(0.19) |
Distributions
(from capital gains) |
(0.46) |
(1.37) |
— |
(0.28) |
(1.27) |
Return
of capital |
— |
— |
— |
— |
— |
Total
Dividends and Distributions |
(0.65) |
(1.60) |
(0.08) |
(0.46) |
(1.46) |
Net
Asset Value, End of Period |
$17.53 |
$16.36 |
$19.12 |
$16.04 |
$16.73 |
Total
Return* |
11.40% |
(5.56)% |
19.73% |
(0.92)% |
30.35% |
Net
Assets, End of Period (in thousands) |
$50,854 |
$51,231 |
$58,536 |
$48,538 |
$45,771 |
Average
Net Assets for the Period (in thousands) |
$49,210 |
$50,719 |
$54,542 |
$40,480 |
$41,788 |
Ratios
to Average Net Assets**: |
|
|
|
|
|
Ratio
of Gross Expenses |
0.69% |
0.67% |
0.67% |
0.81% |
0.81% |
Ratio
of Net Expenses (After Waivers and Expense Offsets) |
0.69% |
0.67% |
0.67% |
0.81% |
0.81% |
Ratio
of Net Investment Income/(Loss) |
1.14% |
1.12% |
0.90% |
1.24% |
1.32% |
Portfolio
Turnover Rate |
47% |
48% |
63% |
44% |
43% |
Equity
and Debt Securities |
Futures,
Options, and Other
Derivatives |
Other
Investments, Strategies, and/or
Techniques |