ANNUAL
REPORT
October
31,
2021
Janus
Henderson
AAA
CLO
ETF
Janus
Detroit
Street
Trust
Table
of
Contents
Janus
Henderson
AAA
CLO
ETF
Performance
Overview
...........................
1
Disclosure
of
Fund
Expenses
.......................
4
Report
of
Independent
Registered
Public
Accounting
Firm
...
5
Schedule
of
Investments
..........................
6
Statement
of
Assets
and
Liabilities
...................
11
Statement
of
Operations
..........................
12
Statements
of
Changes
in
Net
Assets
.................
13
Financial
Highlights
..............................
14
Notes
to
Financial
Statements
......................
15
Additional
Information
............................
23
Trustees
and
Officers
............................
24
Janus
Henderson
AAA
CLO
ETF
(unaudited)
Janus
Detroit
Street
Trust
1
INVESTMENT
OBJECTIVE
Janus
Henderson
AAA
CLO
ETF
(JAAA)
pursues
capital
preservation
and
current
income
by
seeking
to
deliver
floating-
rate
exposure
to
high-quality
AAA
rated
collateralized
loan
obligations
(CLOs).
PERFORMANCE
OVERVIEW
During
the
period,
Janus
Henderson
AAA
CLO
ETF
(JAAA)
returned
2.53%
net
of
fees
(based
on
NAV),
outperforming
its
benchmark,
the
J.P.
Morgan
CLO
AAA
Index,
which
returned
2.44%
over
the
period.
Relative
performance
was
driven
by
our
security
selection
within
the
CLO
market,
where
we
applied
our
bottom-
up
fundamental
analysis
to
help
identify
holdings
with
the
potential
for
relatively
attractive
risk-adjusted
returns.
Additionally,
our
technical
and
quantitative
analysis
heped
us
to
identify
securities
that
were
likely
to
be
called
(paid
off
by
the
borrower)
sooner
than
the
market
was
anticipating,
further
boosting
returns.
We
also
were
active
in
rotating
exposure
between
the
securities
of
different
credit
ratings
within
the
allowed
10%
exposure
limit
to
A
and
AA
rated
securities.
Janus
Henderson
AAA
CLO
ETF
is
an
actively
managed
ETF
seeking
to
invest
in
high-quality
CLOs.
The
ETF
seeks
to
deliver
investors
risk-managed
access
to
an
asset
class
that
may
provide
consistent
risk-adjusted
returns
and
low
correlation
to
traditional
fixed
income
asset
classes
while
exhibiting
low
volatility
with
low
downgrade
risk.
John
Kerschner
Nick
Childs
co-portfolio
manager
co-portfolio
manager
Janus
Henderson
AAA
CLO
ETF
(unaudited)
Fund
At
A
Glance
October
31,
2021
2
October
31,
2021
Holdings
are
subject
to
change
without
notice.
Sector
Allocation
(%
of
Net
Assets)
Collateralized
Loan
Obligations
101.0%
Investment
Companies
1.0%
102.0%
Janus
Henderson
AAA
CLO
ETF
(unaudited)
Performance
Janus
Detroit
Street
Trust
3
Total
annual
expense
ratio
as
stated
in
the
prospectus
(estimated):
0.25%.
See
Financial
Highlights
for
actual
expense
ratios
during
the
reporting
period.
Returns
quoted
are
past
performance
and
do
not
guarantee
future
results;
current
performance
may
be
lower
or
higher.
Investment
returns
and
principal
value
will
vary;
there
may
be
a
gain
or
loss
when
shares
are
sold.
For
the
most
recent
month-end
performance
call
800.668.0434
or
visit
janushenderson.com/performance.
Shares
of
ETFs
are
bought
and
sold
at
market
price
(not
NAV)
and
are
not
individually
redeemed
from
the
Fund.
Market
returns
are
based
upon
the
midpoint
of
the
bid/ask
spread
at
4:00
p.m.
Eastern
time
(when
NAV
is
normally
determined
for
most
ETFs),
and
do
not
represent
the
returns
you
would
receive
if
you
traded
shares
at
other
times.
Ordinary
brokerage
commissions
apply
and
will
reduce
returns.
Investing
involves
risk,
including
the
possible
loss
of
principal
and
fluctuation
of
value.
There
is
no
assurance
the
stated
objective(s)
will
be
met.
Performance
may
be
affected
by
risks
that
include
those
associated
with
foreign
and
emerging
markets,
fixed
income
securities,
high-yield
and
high-risk
securities,
undervalued,
overlooked
and
smaller
capitalization
companies,
real
estate
related
securities
including
Real
Estate
Investment
Trusts
(REITs),
non-diversification,
Environmental,
Social
and
Governance
(ESG)
factors,
portfolio
turnover,
derivatives,
short
sales,
initial
public
offerings
(IPOs)
and
potential
conflicts
of
interest.
Each
product
has
different
risks.
Please
see
the
prospectus
for
more
information
about
risks,
holdings
and
other
details.
Returns
include
reinvestment
of
dividends
and
capital
gains.
Returns
greater
than
one
year
are
annualized.
Returns
do
not
reflect
the
deduction
of
taxes
that
a
shareholder
would
pay
on
Fund
distributions
or
redemptions
of
Fund
shares.
The
returns
do
not
include
adjustments
in
accordance
with
generally
accepted
accounting
principles
required
at
the
period
end
for
financial
reporting
purposes.
See
Notes
to
Schedule
of
Investments
and
Other
Information
for
index
definitions.
Index
performance
does
not
reflect
the
expenses
of
managing
a
portfolio
as
an
index
is
unmanaged
and
not
available
for
direct
investment.
Average
Annual
Total
Return
for
the
periods
ended
October
31,
2021
One
Year
Since
Inception
*
Janus
Henderson
AAA
CLO
ETF
-
NAV
2.53%
2.02%
Janus
Henderson
AAA
CLO
ETF
-
Market
Price
2.55%
2.03%
J.P.
Morgan
CLO
AAA
Index
2.44%
2.14%
*
The
Fund
commenced
operations
on
October
16,
2020.
Janus
Henderson
AAA
CLO
ETF
(unaudited)
Disclosure
of
Fund
Expenses
4
October
31,
2021
As
a
shareholder
of
the
Fund,
you
incur
two
types
of
costs:
(1)
transaction
costs,
which
may
include
creation
and
redemption
fees
or
brokerage
charges
and
(2)
ongoing
costs,
including
management
fees
and
other
Fund
expenses.
This
example
is
intended
to
help
you
understand
your
ongoing
costs
(in
dollars)
of
investing
in
the
Fund
and
to
compare
these
costs
with
the
ongoing
costs
of
investing
in
other
Funds.
To
do
so,
compare
this
5%
hypothetical
example
with
the
5%
hypothetical
examples
that
appear
in
the
shareholder
reports
of
the
other
funds.
The
example
is
based
upon
an
investment
of
$1,000
invested
at
the
beginning
of
the
period
and
held
for
the
six-months
indicated,
unless
noted
otherwise
in
the
table
and
footnotes
below. 
Actual
Expenses 
The
information
in
the
table
under
the
heading
“Actual”
provides
information
about
actual
account
values
and
actual
expenses.
You
may
use
the
information
in
these
columns,
together
with
the
amount
you
invested,
to
estimate
the
expenses
that
you
paid
over
the
period.
Simply
divide
your
account
value
by
$1,000
(for
example,
an
$8,600
account
value
divided
by
$1,000
=
8.6),
then
multiply
the
result
by
the
number
under
the
heading
entitled
“Expenses
Paid
During
Period”
to
estimate
the
expenses
you
paid
on
your
account
during
the
period.
Hypothetical
Example
for
Comparison
Purposes 
The
information
in
the
table
under
the
heading
“Hypothetical
(5%
return
before
expenses)”
provides
information
about
hypothetical
account
values
and
hypothetical
expenses
based
upon
the
Fund’s
actual
expense
ratio
and
an
assumed
rate
of
return
of
5%
per
year
before
expenses,
which
is
not
the
Fund’s
actual
return.
The
hypothetical
account
values
and
expenses
may
not
be
used
to
determine
the
actual
ending
account
balance
or
expenses
you
paid
for
the
period.
You
may
use
this
information
to
compare
the
ongoing
costs
of
investing
in
the
Fund
and
other
funds.
To
do
so,
compare
this
5%
hypothetical
example
with
the
5%
hypothetical
examples
that
appear
in
the
shareholder
reports
of
the
other
funds.
Additionally,
for
an
analysis
of
the
fees
associated
with
an
investment
or
other
similar
funds,
please
visit 
www.finra.org/
fundanalyzer.
Please
note
that
the
expenses
shown
in
the
table
are
meant
to
highlight
your
ongoing
costs
only
and
do
not
reflect
any
transaction
costs,
such
as
creation
and
redemption
fees,
or
brokerage
charges.
These
fees
are
fully
described
in
the
Fund’s
prospectus.
Therefore,
the
hypothetical
examples
are
useful
in
comparing
ongoing
costs
only
and
will
not
help
you
determine
the
relative
total
costs
of
owning
different
funds.
In
addition,
if
these
transaction
costs
were
included,
your
costs
would
have
been
higher.
Actual
Hypothetical
(5%
return
before
expenses)
Beginning
Account
Value
(5/1/21)
Ending
Account
Value
(10/31/21)
Expenses
Paid
During
Period
(5/1/21
-
10/31/21)
Beginning
Account
Value
(5/1/21)
Ending
Account
Value
(10/31/21)
Expenses
Paid
During
Period
(5/1/21
-
10/31/21)
Net
Annualized
Expense
Ratio
(5/1/21
-
10/31/21)
$1,000.00
$1,006.30
$1.26
$1,000.00
$1,023.95
$1.28
0.25%
Expenses
Paid
During
Period
is
equal
to
the
Net
Annualized
Expense
Ratio
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
184/365
(to
reflect
the
one-half
year
period).
Janus
Henderson
AAA
CLO
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
AAA
CLO
ETF
Opinion
on
the
Financial
Statements
We
have
audited
the
accompanying
statement
of
assets
and
liabilities,
including
the
schedule
of
investments,
of
Janus
Henderson
AAA
CLO
ETF
(one
of
the
funds
constituting
Janus
Detroit
Street
Trust
,
referred
to
hereafter
as
the
"Fund")
as
of
October
31,
2021,
the
related
statement
of
operations
for
the
year
ended
October
31,
2021
and
the
statement
of
changes
in
net
assets
and
the
financial
highlights
for
the
year
ended
October
31,
2021
and
for
the
period
October
16,
2020
(commencement
of
operations)
through
October
31,
2020,
including
the
related
notes
(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,
2021
,
the
results
of
its
operations
for
the
year
ended
October
31,
2021,
and
the
changes
in
its
net
assets
and
the
financial
highlights
for
the
year
ended
October
31,
2021
and
for
the
period
October
16,
2020
(commencement
of
operations)
through
October
31,
2020
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,
2021
by
correspondence
with
the
custodian
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
17,
2021
We
have
served
as
the
auditor
of
one
or
more
investment
companies
in
Janus
Henderson
Funds
since
1990.
Janus
Henderson
AAA
CLO
ETF
Schedule
of
Investments
October
31,
2021
6
October
31,
2021
See
Notes
to
Schedule
of
Investments
and
Other
Information
and
Notes
to
Financial
Statements.
Shares/
Principal
Amounts
Value
Collateralized
Loan
Obligations
-
101.0%
AB
BSL
CLO
1
Ltd.
2020-1A
A1A,
ICE
LIBOR
USD
3
Month
+
1.5000%,
1.6238%,
1/15/33
(144A)
$
3,780,000
$
3,784,064
AGL
Core
CLO
4
Ltd.
2020-4A
A1R,
ICE
LIBOR
USD
3
Month
+
1.0700%,
1.2015%,
4/20/33
(144A)
5,500,000
5,506,831
AIG
CLO
Ltd.
2021-1A
A,
ICE
LIBOR
USD
3
Month
+
1.1000%,
1.2283%,
4/22/34
(144A)
1,000,000
1,001,040
AIMCO
CLO
Ltd.
2017-AA
AR,
ICE
LIBOR
USD
3
Month
+
1.0500%,
1.1815%,
4/20/34
(144A)
1,300,000
1,300,190
Allegro
CLO
IX
Ltd.
2018-3A
A,
ICE
LIBOR
USD
3
Month
+
1.1650%,
1.2872%,
10/16/31
(144A)
1,000,000
999,830
Allegro
CLO
V
Ltd.
2017-1A
AR,
ICE
LIBOR
USD
3
Month
+
0.9500%,
1.0722%,
10/16/30
(144A)
1,000,000
1,000,156
Allegro
CLO
VIII
Ltd.
2018-2A
A,
ICE
LIBOR
USD
3
Month
+
1.1000%,
1.2238%,
7/15/31
(144A)
6,000,000
6,006,450
Anchorage
Capital
CLO
Ltd.
2014-4RA
A,
ICE
LIBOR
USD
3
Month
+
1.0500%,
1.1859%,
1/28/31
(144A)
6,500,000
6,510,498
Apex
Credit
CLO
2021
Ltd.
2021-1A
AN,
ICE
LIBOR
USD
3
Month
+
1.2100%,
1.3508%,
7/18/34
(144A)
1,476,000
1,476,424
Apidos
CLO
XXIX
Ltd.
2018-29A
A1B,
ICE
LIBOR
USD
3
Month
+
1.3000%,
1.4239%,
7/25/30
(144A)
2,000,000
2,000,436
Assurant
CLO
Ltd.
2018-2A
A,
ICE
LIBOR
USD
3
Month
+
1.0400%,
1.1715%,
4/20/31
(144A)
1,500,000
1,500,757
Atrium
XIV
LLC
14A
A2A,
ICE
LIBOR
USD
3
Month
+
1.4500%,
1.5722%,
8/23/30
(144A)
2,000,000
2,000,894
Benefit
Street
Partners
CLO
VIII
Ltd.
2015-8A
A1AR,
ICE
LIBOR
USD
3
Month
+
1.1000%,
1.2315%,
1/20/31
(144A)
3,000,000
3,002,673
Benefit
Street
Partners
CLO
XXII
Ltd.
2020-22A
B,
ICE
LIBOR
USD
3
Month
+
1.5500%,
1.6815%,
1/20/32
(144A)
1,250,000
1,250,314
Canyon
Capital
CLO
Ltd.
2014-1A
A1BR,
ICE
LIBOR
USD
3
Month
+
1.1700%,
1.2985%,
1/30/31
(144A)
3,010,000
3,006,042
Carlyle
US
CLO
Ltd.
2016-4A
BR,
ICE
LIBOR
USD
3
Month
+
2.1000%,
2.2315%,
10/20/27
(144A)
1,000,000
1,000,249
CBAM
Ltd.
2018-5A
A,
ICE
LIBOR
USD
3
Month
+
1.0200%,
1.1423%,
4/17/31
(144A)
5,900,000
5,900,519
CBAM
Ltd.
2019-11RA
A2,
ICE
LIBOR
USD
3
Month
+
1.5000%,
1.6249%,
1/20/35
(144A)
924,000
924,000
CIFC
Funding
Ltd.
2013-2A
A3LR,
ICE
LIBOR
USD
3
Month
+
1.9500%,
2.0723%,
10/18/30
(144A)
1,000,000
1,001,882
CIFC
Funding
Ltd.
2015-1A
ARR,
ICE
LIBOR
USD
3
Month
+
1.1100%,
1.2382%,
1/22/31
(144A)
2,000,000
2,003,276
CIFC
Funding
Ltd.
2018-2A
A1,
ICE
LIBOR
USD
3
Month
+
1.0400%,
1.1715%,
4/20/31
(144A)
1,250,000
1,250,716
CIFC
Funding
Ltd.
2013-3RA
A1,
ICE
LIBOR
USD
3
Month
+
0.9800%,
1.1039%,
4/24/31
(144A)
1,800,000
1,800,475
CIFC
Funding
Ltd.
2018-3A
A,
ICE
LIBOR
USD
3
Month
+
1.1000%,
1.2223%,
7/18/31
(144A)
2,500,000
2,501,567
CIFC
Funding
Ltd.
2019-6A
C,
ICE
LIBOR
USD
3
Month
+
2.7000%,
2.8222%,
1/16/33
(144A)
1,500,000
1,501,470
Deer
Creek
CLO
Ltd.
2017-1A
A,
ICE
LIBOR
USD
3
Month
+
1.1800%,
1.3115%,
10/20/30
(144A)
3,000,000
3,002,997
Dryden
37
Senior
Loan
Fund
2015-37A
AR,
ICE
LIBOR
USD
3
Month
+
1.1000%,
1.2238%,
1/15/31
(144A)
3,000,000
3,000,330
Dryden
53
CLO
Ltd.
2017-53A
A,
ICE
LIBOR
USD
3
Month
+
1.1200%,
1.2437%,
1/15/31
(144A)
4,002,000
4,007,391
Janus
Henderson
AAA
CLO
ETF
Schedule
of
Investments
October
31,
2021
Janus
Detroit
Street
Trust
7
See
Notes
to
Schedule
of
Investments
and
Other
Information
and
Notes
to
Financial
Statements.
Shares/
Principal
Amounts
Value
Collateralized
Loan
Obligations
-
(continued)
Dryden
57
CLO
Ltd.
2018-57A
A,
ICE
LIBOR
USD
3
Month
+
1.0100%,
1.1347%,
5/15/31
(144A)
$
1,000,000
$
1,000,169
Dryden
85
CLO
Ltd.
2020-85A
AR,
ICE
LIBOR
USD
3
Month
+
1.1500%,
1.2737%,
10/15/35
(144A)
5,000,000
5,000,970
Fillmore
Park
CLO
Ltd.
2018-1A
A2,
ICE
LIBOR
USD
3
Month
+
1.3400%,
1.4637%,
7/15/30
(144A)
3,000,000
3,000,195
Galaxy
XVIII
CLO
Ltd.
2018-28A
A1,
ICE
LIBOR
USD
3
Month
+
1.1000%,
1.2238%,
7/15/31
(144A)
1,000,000
1,001,887
Galaxy
XX
CLO
Ltd.
2015-20A
AR,
ICE
LIBOR
USD
3
Month
+
1.0000%,
1.1315%,
4/20/31
(144A)
4,000,000
4,000,364
Galaxy
XXVII
CLO
Ltd.
2018-27A
A,
ICE
LIBOR
USD
3
Month
+
1.0200%,
1.1447%,
5/16/31
(144A)
1,500,000
1,500,132
Gallatin
CLO
VIII
Ltd.
2017-1A
A,
ICE
LIBOR
USD
3
Month
+
1.3000%,
1.4237%,
7/15/27
(144A)
1,556,040
1,557,154
Generate
CLO
2
Ltd.
2A
AR,
ICE
LIBOR
USD
3
Month
+
1.1500%,
1.2782%,
1/22/31
(144A)
2,000,000
2,004,748
GoldenTree
Loan
Management
US
CLO
1
Ltd.
2017-1A
A1R2,
ICE
LIBOR
USD
3
Month
+
1.0200%,
1.1515%,
4/20/34
(144A)
2,000,000
1,998,854
Greywolf
CLO
VII
Ltd.
2018-2A
A1,
ICE
LIBOR
USD
3
Month
+
1.1800%,
1.3115%,
10/20/31
(144A)
2,000,000
2,001,792
Highbridge
Loan
Management
Ltd.
7A-2015
A2R,
ICE
LIBOR
USD
3
Month
+
0.9000%,
1.0248%,
3/15/27
(144A)
3,000,000
3,000,096
HPS
Loan
Management
Ltd.
14A-19
A1R,
ICE
LIBOR
USD
3
Month
+
1.0200%,
1.1439%,
1/25/34
(144A)
3,950,000
3,924,530
ICG
US
CLO
Ltd.
2019-1A
A1A,
ICE
LIBOR
USD
3
Month
+
1.3800%,
1.5049%,
10/26/32
(144A)
5,715,000
5,725,430
Kayne
CLO
10
Ltd.
2021-10A
A,
ICE
LIBOR
USD
3
Month
+
1.1700%,
1.2939%,
4/23/34
(144A)
5,000,000
5,010,410
KKR
CLO
23
Ltd.
23
A1,
ICE
LIBOR
USD
3
Month
+
1.1500%,
1.2815%,
10/20/31
(144A)
1,000,000
1,001,288
KKR
CLO
25
Ltd.
25
CR,
ICE
LIBOR
USD
3
Month
+
2.3000%,
2.4238%,
7/15/34
(144A)
1,300,000
1,303,078
KKR
CLO
Ltd.
22A
A,
ICE
LIBOR
USD
3
Month
+
1.1500%,
1.2815%,
7/20/31
(144A)
3,000,000
3,001,032
LCM
XVIII
LP
19A
AR,
ICE
LIBOR
USD
3
Month
+
1.2400%,
1.3637%,
7/15/27
(144A)
929,500
931,196
Madison
Park
Funding
XVIII
Ltd.
2015-18A
A1R,
ICE
LIBOR
USD
3
Month
+
1.1900%,
1.3195%,
10/21/30
(144A)
3,400,000
3,404,352
Madison
Park
Funding
XX
Ltd.
2016-20A
A2R,
ICE
LIBOR
USD
3
Month
+
1.3000%,
1.4345%,
7/27/30
(144A)
4,750,000
4,750,470
Madison
Park
Funding
XXVI
Ltd.
2017-26A
AR,
ICE
LIBOR
USD
3
Month
+
1.2000%,
1.3286%,
7/29/30
(144A)
5,000,000
5,000,780
Magnetite
XV
Ltd.
2015-15A
CR,
ICE
LIBOR
USD
3
Month
+
1.8000%,
1.9239%,
7/25/31
(144A)
2,700,000
2,702,889
Magnetite
XVII
Ltd.
2016-17A
AR,
ICE
LIBOR
USD
3
Month
+
1.1000%,
1.2315%,
7/20/31
(144A)
1,650,000
1,653,077
Marble
Point
CLO
XI
Ltd.
2017-2A
A,
ICE
LIBOR
USD
3
Month
+
1.1800%,
1.3022%,
12/18/30
(144A)
3,000,000
2,998,290
MP
CLO
III
Ltd.
2013-1A
AR,
ICE
LIBOR
USD
3
Month
+
1.2500%,
1.3815%,
10/20/30
(144A)
2,250,000
2,252,525
Nassau
Ltd.
2018-IIA
A,
ICE
LIBOR
USD
3
Month
+
1.2800%,
1.4038%,
10/15/31
(144A)
1,000,000
999,521
Neuberger
Berman
Loan
Advisers
CLO
29
Ltd.
2018-29A
A1,
ICE
LIBOR
USD
3
Month
+
1.1300%,
1.2536%,
10/19/31
(144A)
1,000,000
1,000,567
Janus
Henderson
AAA
CLO
ETF
Schedule
of
Investments
October
31,
2021
8
October
31,
2021
See
Notes
to
Schedule
of
Investments
and
Other
Information
and
Notes
to
Financial
Statements.
Shares/
Principal
Amounts
Value
Collateralized
Loan
Obligations
-
(continued)
Neuberger
Berman
Loan
Advisers
CLO
33
Ltd.
2019-33A
BR,
ICE
LIBOR
USD
3
Month
+
1.6000%,
1.7223%,
10/16/33
(144A)
$
4,475,000
$
4,474,987
Neuberger
Berman
Loan
Advisers
CLO
40
Ltd.
2021-40A
A,
ICE
LIBOR
USD
3
Month
+
1.0600%,
1.1823%,
4/16/33
(144A)
4,500,000
4,508,212
Oaktree
CLO
Ltd.
2019-2A
A1AR,
ICE
LIBOR
USD
3
Month
+
1.1200%,
1.2437%,
4/15/31
(144A)
3,000,000
3,001,071
OCP
CLO
Ltd.
2014-5A
A1R,
ICE
LIBOR
USD
3
Month
+
1.0800%,
1.2049%,
4/26/31
(144A)
1,250,000
1,251,203
OCP
CLO
Ltd.
2015-10A
BR2,
ICE
LIBOR
USD
3
Month
+
1.6500%,
0.0000%,
1/26/34
(144A)
3,250,000
3,250,000
Octagon
56
Ltd.
2021-1A
A,
ICE
LIBOR
USD
3
Month
+
1.1600%,
1.2821%,
10/15/34
(144A)
4,000,000
4,000,972
Octagon
Investment
Partners
34
Ltd.
2017-1A
A2,
ICE
LIBOR
USD
3
Month
+
1.2500%,
1.3815%,
1/20/30
(144A)
2,000,000
1,998,284
Octagon
Investment
Partners
48
Ltd.
2020-3A
AR,
ICE
LIBOR
USD
3
Month
+
1.1500%,
0.0000%,
10/20/34
(144A)
1,154,000
1,154,000
Octagon
Investment
Partners
XVII
Ltd.
2013-1A
A1R2,
ICE
LIBOR
USD
3
Month
+
1.0000%,
1.1239%,
1/25/31
(144A)
5,900,000
5,906,189
Octagon
Loan
Funding
Ltd.
2014-1A
ARR,
ICE
LIBOR
USD
3
Month
+
1.1800%,
1.3045%,
11/18/31
(144A)
6,000,000
6,000,486
OHA
Credit
Funding
5
Ltd.
2020-5A
A2A,
ICE
LIBOR
USD
3
Month
+
1.4500%,
1.5722%,
4/18/33
(144A)
1,350,000
1,352,168
OHA
Credit
Partners
XIV
Ltd.
2017-14A
C,
ICE
LIBOR
USD
3
Month
+
1.8000%,
1.9295%,
1/21/30
(144A)
1,000,000
998,905
Palmer
Square
CLO
Ltd.
2018-2A
A1A,
ICE
LIBOR
USD
3
Month
+
1.1000%,
1.2223%,
7/16/31
(144A)
5,000,000
5,008,535
Pikes
Peak
CLO
1
2018-1A
A,
ICE
LIBOR
USD
3
Month
+
1.1800%,
1.3039%,
7/24/31
(144A)
1,500,000
1,501,120
PPM
CLO
Ltd.
2018-1A
A,
ICE
LIBOR
USD
3
Month
+
1.1500%,
1.2737%,
7/15/31
(144A)
6,000,000
6,004,974
Recette
CLO
Ltd.
2015-1A
ARR,
ICE
LIBOR
USD
3
Month
+
1.0800%,
1.2115%,
4/20/34
(144A)
4,000,000
4,004,132
Riserva
CLO
Ltd.
2016-3A
ARR,
ICE
LIBOR
USD
3
Month
+
1.0600%,
1.1823%,
1/18/34
(144A)
1,000,000
998,522
Rockford
Tower
CLO
Ltd.
2018-1A
A,
ICE
LIBOR
USD
3
Month
+
1.1000%,
1.2309%,
5/20/31
(144A)
2,000,000
2,000,704
Signal
Peak
CLO
8
Ltd.
2020-8A
C,
ICE
LIBOR
USD
3
Month
+
2.0000%,
2.1315%,
4/20/33
(144A)
2,000,000
2,000,376
Sound
Point
CLO
VI-R
Ltd.
2014-2RA
A,
ICE
LIBOR
USD
3
Month
+
1.2500%,
1.3815%,
10/20/31
(144A)
4,000,000
4,003,952
Sound
Point
CLO
XIX
Ltd.
2018-1A
A,
ICE
LIBOR
USD
3
Month
+
1.0000%,
1.1238%,
4/15/31
(144A)
11,500,000
11,512,052
Sounds
Point
CLO
IV-R
Ltd.
2013-3RA
A,
ICE
LIBOR
USD
3
Month
+
1.1500%,
1.2723%,
4/18/31
(144A)
5,000,000
5,000,555
Symphony
CLO
XXII
Ltd.
2020-22A
A1A,
ICE
LIBOR
USD
3
Month
+
1.2900%,
1.4123%,
4/18/33
(144A)
2,650,000
2,653,758
THL
Credit
Wind
River
CLO
Ltd.
2013-2A
AR2,
ICE
LIBOR
USD
3
Month
+
1.0000%,
1.1222%,
10/18/30
(144A)
3,750,000
3,750,165
THL
Credit
Wind
River
CLO
Ltd.
2014-2A
AR,
ICE
LIBOR
USD
3
Month
+
1.1400%,
1.2638%,
1/15/31
(144A)
1,000,000
1,000,672
THL
Credit
Wind
River
CLO
Ltd.
2017-1A
ARR,
ICE
LIBOR
USD
3
Month
+
1.0600%,
1.1823%,
4/18/36
(144A)
2,500,000
2,497,145
Trinitas
CLO
VI
Ltd.
2017-6A
ARR,
ICE
LIBOR
USD
3
Month
+
1.3100%,
1.4339%,
1/25/34
(144A)
1,000,000
1,002,240
Janus
Henderson
AAA
CLO
ETF
Schedule
of
Investments
October
31,
2021
Janus
Detroit
Street
Trust
9
See
Notes
to
Schedule
of
Investments
and
Other
Information
and
Notes
to
Financial
Statements.
Shares/
Principal
Amounts
Value
Collateralized
Loan
Obligations
-
(continued)
Venture
31
CLO
Ltd.
2018-31A
A2,
ICE
LIBOR
USD
3
Month
+
1.1500%,
1.2815%,
4/20/31
(144A)
$
2,800,000
$
2,797,365
Venture
32
CLO
Ltd.
2018-32A
A1,
ICE
LIBOR
USD
3
Month
+
1.1000%,
1.2223%,
7/18/31
(144A)
3,766,000
3,764,780
Venture
XVIII
CLO
Ltd.
2014-18A
AR,
ICE
LIBOR
USD
3
Month
+
1.2200%,
1.3438%,
10/15/29
(144A)
1,950,000
1,951,135
Voya
CLO
Ltd.
2014-2A
A1RR,
ICE
LIBOR
USD
3
Month
+
1.0200%,
1.1423%,
4/17/30
(144A)
4,376,418
4,379,364
Voya
CLO
Ltd.
2019-1A
AR,
ICE
LIBOR
USD
3
Month
+
1.0600%,
1.1837%,
4/15/31
(144A)
1,000,000
1,001,021
Voya
CLO
Ltd.
2014-1A
AAR2,
ICE
LIBOR
USD
3
Month
+
0.9900%,
1.1122%,
4/18/31
(144A)
5,976,433
5,982,911
Voya
CLO
Ltd.
2018-1A
A1,
ICE
LIBOR
USD
3
Month
+
0.9500%,
1.0736%,
4/19/31
(144A)
5,566,000
5,571,894
Voya
CLO
Ltd.
2013-3A
A1RR,
ICE
LIBOR
USD
3
Month
+
1.1500%,
1.2723%,
10/18/31
(144A)
1,993,114
1,993,602
Wellfleet
CLO
Ltd.
2016-2A
A1R,
ICE
LIBOR
USD
3
Month
+
1.1400%,
1.2715%,
10/20/28
(144A)
1,040,179
1,041,303
Wind
River
CLO
Ltd.
2016-1A
AR,
ICE
LIBOR
USD
3
Month
+
1.0500%,
1.1738%,
7/15/28
(144A)
449,338
449,468
Wind
River
CLO
Ltd.
2021-2A
C,
ICE
LIBOR
USD
3
Month
+
1.9500%,
2.0815%,
7/20/34
(144A)
2,000,000
2,001,702
Zais
CLO
8
Ltd.
2018-1A
A,
ICE
LIBOR
USD
3
Month
+
0.9500%,
1.0738%,
4/15/29
(144A)
792,412
792,171
Total
Collateralized
Loan
Obligations
(cost
$261,824,990)
262,529,362
Investment
Companies
-
1.0%
Money
Market
Funds
-
1.0%
Federated
Hermes
Government
Obligations
Tax-Managed
Fund,
0.0200%
(cost
$2,691,812)
2,691,812
2,691,812
Total
Investments
(total
cost
$264,516,802
)
-
102.0%
265,221,174
Liabilities,
net
of
Cash,
Receivables
and
Other
Assets
-
(2.0%)
(5,219,408)
Net
Assets
-
100.0%
$260,001,766
Summary
of
Investments
by
Country
-
(Long
Positions)
(unaudited)
Country
Value
%
of
Investment
Securities
United
States
$
265,221,174
100.0
%
Janus
Henderson
AAA
CLO
ETF
Notes
to
Schedule
of
Investments
and
Other
Information
October
31,
2021
10
October
31,
2021
J.P.
Morgan
CLO
AAA
Index
J.P.
Morgan
CLO
AAA
Index
is
designed
to
track
the
AAA-rated
components
of
the
USD-denominated,
broadly
syndicated
CLO
market.
ICE
Intercontinental
Exchange
LIBOR
LIBOR
(London
Interbank
Offered
Rate)
is
a
short-term
interest
rate
that
banks
offer
one
another
and
generally
represents
current
cash
rates.
LLC
Limited
Liability
Company
LP
Limited
Partnership
Rate
shown
is
the
7-day
yield
as
of
October
31,
2021.
The
interest
rate
on
floating
rate
notes
is
based
on
an
index
or
market
interest
rates
and
is
subject
to
change.
Rate
in
the
security
description
is
as
of
October
31,
2021
144A
Securities
sold
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended,
are
subject
to
legal
and/or
contractual
restrictions
on
resale
and
may
not
be
publicly
sold
without
registration
under
the
1993
Act.
Unless
otherwise
noted,
these
securities
have
been
determined
to
be
liquid
in
accordance
with
the
requirements
of
Rule
22e-4,
under
the
1940
Act.
The
total
value
of
144A
securities
as
of
the
year
ended
October
31,
2021
is
$262,529,362
which
represents
101.0%
of
net
assets.
The
following
is
a
summary
of
the
inputs
that
were
used
to
value
the
Fund's
investments
in
securities
and
other
financial
instruments
as
of
October
31,
2021
.
See
Notes
to
Financial
Statements
for
more
information.
Valuation
Inputs
Summary
Level
1
-
Quoted
Prices
Level
2
-
Other
Significant
Observable
Inputs
Level
3
-
Significant
Unobservable
Inputs
Assets
Investments
in
Securities:
Collateralized
Loan
Obligations
$
$
262,529,362
$
Investment
Companies
2,691,812
Total
Assets
$
2,691,812
$
262,529,362
$
Janus
Henderson
AAA
CLO
ETF
Statement
of
Assets
and
Liabilities
October
31,
2021
Janus
Detroit
Street
Trust
11
See
Notes
to
Financial
Statements.
Assets:
Investments,
at
value
(cost
$264,516,802)
$
265,221,174
Receivables:
Interest
177,398
Total
Assets
265,398,572
Liabilities:
Payables:
Due
to
custodian
15,151
Investments
purchased
5,328,000
Management
fees
53,062
Interest
593
Total
Liabilities
5,396,806
Net
Assets
$
260,001,766
Net
Assets
Consists
of:
Capital
(par
value
and
paid-in
surplus)
$
258,789,004
Total
distributable
earnings
(loss)
1,212,762
Total
Net
Assets
$
260,001,766
Net
Assets
$
260,001,766
Shares
outstanding,
$0.001
Par
Value
(unlimited
shares
authorized)
5,150,000
Net
Asset
Value
Per
Share
$
50
.49
Janus
Henderson
AAA
CLO
ETF
Statement
of
Operations
For
the
year
ended
October
31,
2021
12
October
31,
2021
See
Notes
to
Financial
Statements.