Janus
Henderson
Small/Mid
Cap
Growth
Alpha
ETF
Report
of
Independent
Registered
Public
Accounting
Firm
Janus
Detroit
Street
Trust
5
To
the
Board
of
Trustees
of
Janus
Detroit
Street
Trust
and
Shareholders
of
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
ETF
Opinion
on
the
Financial
Statements
We
have
audited
the
accompanying
statement
of
assets
and
liabilities,
including
the
schedule
of
investments,
of
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
ETF
(one
of
the
funds
constituting
Janus
Detroit
Street
Trust,
referred
to
hereafter
as
the
"Fund")
as
of
October
31,
2022,
the
related
statement
of
operations
for
the
year
ended
October
31,
2022,
the
statements
of
changes
in
net
assets
for
each
of
the
two
years
in
the
period
ended
October
31,
2022,
including
the
related
notes,
and
the
financial
highlights
for
each
of
the
five
years
in
the
period
ended
October
31,
2022
(collectively
referred
to
as
the
“financial
statements”).
In
our
opinion,
the
financial
statements
present
fairly,
in
all
material
respects,
the
financial
position
of
the
Fund
as
of
October
31,
2022,
the
results
of
its
operations
for
the
year
then
ended,
the
changes
in
its
net
assets
for
each
of
the
two
years
in
the
period
ended
October
31,
2022
and
the
financial
highlights
for
each
of
the
five
years
in
the
period
ended
October
31,
2022
in
conformity
with
accounting
principles
generally
accepted
in
the
United
States
of
America.
Basis
for
Opinion
These
financial
statements
are
the
responsibility
of
the
Fund’s
management.
Our
responsibility
is
to
express
an
opinion
on
the
Fund’s
financial
statements
based
on
our
audits.
We
are
a
public
accounting
firm
registered
with
the
Public
Company
Accounting
Oversight
Board
(United
States)
(PCAOB)
and
are
required
to
be
independent
with
respect
to
the
Fund
in
accordance
with
the
U.S.
federal
securities
laws
and
the
applicable
rules
and
regulations
of
the
Securities
and
Exchange
Commission
and
the
PCAOB.
We
conducted
our
audits
of
these
financial
statements
in
accordance
with
the
standards
of
the
PCAOB.
Those
standards
require
that
we
plan
and
perform
the
audit
to
obtain
reasonable
assurance
about
whether
the
financial
statements
are
free
of
material
misstatement,
whether
due
to
error
or
fraud.
Our
audits
included
performing
procedures
to
assess
the
risks
of
material
misstatement
of
the
financial
statements,
whether
due
to
error
or
fraud,
and
performing
procedures
that
respond
to
those
risks.
Such
procedures
included
examining,
on
a
test
basis,
evidence
regarding
the
amounts
and
disclosures
in
the
financial
statements.
Our
audits
also
included
evaluating
the
accounting
principles
used
and
significant
estimates
made
by
management,
as
well
as
evaluating
the
overall
presentation
of
the
financial
statements.
Our
procedures
included
confirmation
of
securities
owned
as
of
October
31,
2022
by
correspondence
with
the
custodian,
transfer
agent
and
brokers;
when
replies
were
not
received
from
brokers,
we
performed
other
auditing
procedures.
We
believe
that
our
audits
provide
a
reasonable
basis
for
our
opinion.
Denver,
Colorado
December
16,
2022
We
have
served
as
the
auditor
of
one
or
more
investment
companies
in
Janus
Henderson
Funds
since
1990.