ANNUAL
REPORT
October
31,
2021
Janus
Henderson
Short
Duration
Income
ETF
Janus
Detroit
Street
Trust
Table
of
Contents
Janus
Henderson
Short
Duration
Income
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
...................
20
Statement
of
Operations
..........................
21
Statements
of
Changes
in
Net
Assets
.................
22
Financial
Highlights
..............................
23
Notes
to
Financial
Statements
......................
24
Additional
Information
............................
39
Trustees
and
Officers
............................
40
Janus
Henderson
Short
Duration
Income
ETF
(unaudited)
Janus
Detroit
Street
Trust
1
INVESTMENT
OBJECTIVE
Janus
Henderson
Short
Duration
Income
ETF
(VNLA)
seeks
to
provide
a
steady
income
stream
with
capital
preservation
across
various
market
cycles.
The
Fund
seeks
to
consistently
outperform
the
FTSE
3-Month
US
Treasury
Bill
Index
by
a
moderate
amount
through
various
market
cycles
while
at
the
same
time
providing
low
volatility.
PERFORMANCE
OVERVIEW
Global
bonds
lost
ground
during
the
period
as
the
world’s
economy
took
steps
to
emerge
from
the
depths
of
the
pandemic-driven
recession.
Anticipation
of
higher
growth
in
the
wake
of
vaccination
approvals
pushed
up
developed
market
interest
rates
during
February
and
March.
While
the
emergence
of
the
COVID-19
Delta
variant
created
growth
headwinds,
rates
were
again
on
the
march
higher
by
the
end
of
the
period,
largely
in
response
to
higher-than
expected
inflation.
During
the
period,
the
Janus
Henderson
Short
Duration
Income
ETF
(VNLA)
returned
0.15%
(based
on
NAV);
its
benchmark,
the
FTSE
3-Month
US
Treasury
Bill
Index,
returned
0.05%.
Positive
returns
were
largely
sourced
from
the
Fund’s
core
of
shorter
duration
corporate
credits.
Given
the
volatility
of
interest
rates
during
certain
parts
of
the
period,
the
Fund
employed
several
tactics
to
lower
the
duration
risk
when
we
believed
conditions
merited.
While
these
positions,
in
aggregate,
dampened
losses
and
our
overall
duration
positioning
added
to
performance,
during
some
periods,
interest
rates
responded
to
economic
developments
in
a
sharp
manner,
overwhelming
the
Fund’s
hedges
and
resulting
in
modest
losses
for
certain
months.
Janus
Henderson
Short
Duration
Income
ETF
is
an
actively
managed,
fixed
income
ETF
with
the
potential
to
deliver
returns
above
cash.
The
strategy
seeks
to
provide
a
steady
income
stream
with
low
volatility
and
capital
preservation
across
economic
cycles.
Rather
than
tracking
a
benchmark,
the
Fund
is
designed
to
move
beyond
conventional
benchmark
constraints
and
provide
positive
absolute
returns.
The
Fund
uses
derivatives
such
as
futures,
options
and
swaps
in
connection
with
its
strategies
for
various
purposes,
including
managing
interest
rate
and
credit
risk
across
the
portfolio
and
in
certain
situations
to
construct
positions
with
the
aim
of
enhancing
returns.
During
the
period,
the
Fund
used
options,
futures,
options
on
futures,
credit
default
swaps
(CDS),
other
swaps
and
forward
exchange
contracts.
In
aggregate,
derivatives’
impact
on
Fund
performance
was
positive.
Please
see
the
Derivative
Instruments
section
in
the
“Notes
to
Financial
Statements”
for
a
discussion
of
derivatives
used
by
the
Fund.
Daniel
Siluk
Jason
England
co-portfolio
manager
co-portfolio
manager
Janus
Henderson
Short
Duration
Income
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)
Financial
49.0%
Consumer,
Non-cyclical
11.7%
Consumer,
Cyclical
9.8%
Technology
7.0%
Industrial
5.9%
Communications
5.5%
Utilities
4.3%
Energy
4.2%
Basic
Materials
1.0%
Mortgage-Backed
Securities
1.0%
Investment
Companies
1.0%
Diversified
0.4%
Asset-Backed
Securities
0.0%
100.8%
Janus
Henderson
Short
Duration
Income
ETF
(unaudited)
Performance
Janus
Detroit
Street
Trust
3
Total
annual
expense
ratio
as
stated
in
the
prospectus:
0.26%
(gross),
0.24%
(net).
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.
Net
expense
ratios
reflect
the
expense
waiver,
if
any,
contractually
agreed
to
through
at
least
February
28,
2022.
Investing
involves
risk,
including
the
possible
loss
of
principal
and
fluctuation
of
value.
There
is
no
assurance
the
stated
objective(s)
will
be
met.
The
Fund
is
not
a
money
market
fund
and
does
not
attempt
to
maintain
a
stable
net
asset
value.
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.
Effective
September
30,
2021,
Jason
England
and
Daniel
Siluk
are
Co-Portfolio
Managers
of
the
Fund.
Average
Annual
Total
Return
for
the
periods
ended
October
31,
2021
One
Year
Since
Inception
*
Janus
Henderson
Short
Duration
Income
ETF
-
NAV
0.15%
2.18%
Janus
Henderson
Short
Duration
Income
ETF
-
Market
Price
0.15%
2.18%
FTSE
3-Month
U.S.
Treasury
Bill
Index
0.05%
1.13%
*
The
Fund
commenced
operations
on
November
16,
2016.
Janus
Henderson
Short
Duration
Income
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
$1,000.70
$1.11
$1,000.00
$1,024.10
$1.12
0.22%
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
Short
Duration
Income
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
Short
Duration
Income
ETF
Opinion
on
the
Financial
Statements
We
have
audited
the
accompanying
statement
of
assets
and
liabilities,
including
the
schedule
of
investments,
of
Janus
Henderson
Short
Duration
Income
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,
the
statements
of
changes
in
net
assets
for
each
of
the
two
years
in
the
period
ended
October
31,
2021,
including
the
related
notes,
and
the
financial
highlights
for
each
of
the
four
years
in
the
period
ended
October
31,
2021
and
for
the
period
November
16,
2016
(commencement
of
operations)
through
October
31,
2017
(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
then
ended,
the
changes
in
its
net
assets
for
each
of
the
two
years
in
the
period
ended
October
31,
2021
and
the
financial
highlights
for
each
of
the
four
years
in
the
period
ended
October
31,
2021
and
for
the
period
November
16,
2016
(commencement
of
operations)
through
October
31,
2017
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
Short
Duration
Income
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
Asset-Backed
Security
-
0.0%
Pepper
SPARKZ
Trust
No.
2,
30
Day
Australian
Bank
Bill
Rate
+
1.5500%,
1.5617%,
10/16/27
(cost
$233,443)
AUD
315,755
$
238,338
Corporate
Bonds
-
89.1%
Basic
Materials
-
1.0%
Georgia-Pacific
LLC,
0.6250%, 5/15/24
(144A)
$
28,520,000
28,328,025
Communications
-
5.5%
Alphabet,
Inc.,
0.4500%, 8/15/25
17,320,000
16,972,047
Amazon.com,
Inc.,
0.4500%, 5/12/24
15,900,000
15,780,635
Amazon.com,
Inc.,
0.8000%, 6/3/25
9,800,000
9,703,276
AT&T,
Inc.,
0.9000%, 3/25/24
32,380,000
32,382,984
eBay,
Inc.,
ICE
LIBOR
USD
3
Month
+
0.8700%,
0.9986%, 1/30/23
8,053,000
8,126,535
eBay,
Inc.,
1.9000%, 3/11/25
9,600,000
9,787,858
eBay,
Inc.,
1.4000%, 5/10/26
6,630,000
6,578,002
Optus
Finance
Pty.
Ltd.,
4.0000%, 6/17/22
AUD
5,250,000
4,026,760
Optus
Finance
Pty.
Ltd.,
3.2500%, 8/23/22
4,500,000
3,452,182
Optus
Finance
Pty.
Ltd.,
3.2500%, 9/6/23
750,000
581,602
Optus
Finance
Pty.
Ltd.,
1.6000%, 7/1/25
450,000
331,442
Spark
Finance
Ltd.,
2.6000%, 3/18/30
270,000
194,327
TWDC
Enterprises
18
Corp.,
ICE
LIBOR
USD
3
Month
+
0.3900%,
0.5055%, 3/4/22
$
3,100,000
3,104,370
Verizon
Communications,
Inc.,
90
Day
Australian
Bank
Bill
Rate
+
1.2200%,
1.2343%, 2/17/23
AUD
7,240,000
5,483,415
Verizon
Communications,
Inc.,
3.5000%, 2/17/23
2,170,000
1,678,855
Verizon
Communications,
Inc.,
0.7500%, 3/22/24
$
4,700,000
4,687,097
Verizon
Communications,
Inc.,
ICE
LIBOR
USD
3
Month
+
1.1000%,
1.2247%, 5/15/25
8,000,000
8,177,024
Verizon
Communications,
Inc.,
0.8500%, 11/20/25
13,220,000
12,950,874
Verizon
Communications,
Inc.,
1.4500%, 3/20/26
4,700,000
4,688,043
Walt
Disney
Co.
(The),
1.7500%, 8/30/24
3,410,000
3,490,047
152,177,375
Consumer,
Cyclical
-
9.2%
7-Eleven,
Inc.,
0.6250%, 2/10/23
(144A)
3,350,000
3,344,365
American
Honda
Finance
Corp.,
0.8750%, 7/7/23
1,665,000
1,673,688
American
Honda
Finance
Corp.,
0.5500%, 7/12/24
8,190,000
8,099,282
BMW
US
Capital
LLC,
0.7500%, 8/12/24
(144A)
4,500,000
4,478,383
BMW
US
Capital
LLC,
1.2500%, 8/12/26
(144A)
6,450,000
6,382,024
CK
Hutchison
International
21
Ltd.,
1.5000%, 4/15/26
(144A)
15,780,000
15,645,554
Daimler
Finance
North
America
LLC,
2.8500%, 1/6/22
(144A)
750,000
753,263
Daimler
Finance
North
America
LLC,
ICE
LIBOR
USD
3
Month
+
0.9000%,
1.0248%, 2/15/22
(144A)
15,000,000
15,034,951
Daimler
Finance
North
America
LLC,
0.7500%, 3/1/24
(144A)
19,060,000
18,979,420
General
Motors
Financial
Co.,
Inc.,
1.7000%, 8/18/23
1,000,000
1,014,528
General
Motors
Financial
Co.,
Inc.,
1.0500%, 3/8/24
10,125,000
10,103,260
General
Motors
Financial
Co.,
Inc.,
1.2000%, 10/15/24
8,650,000
8,635,234
Home
Depot,
Inc.
(The),
0.9000%, 3/15/28
11,325,000
10,757,381
Home
Depot,
Inc.
(The),
1.5000%, 9/15/28
2,800,000
2,748,462
Hyundai
Capital
America,
1.2500%, 9/18/23
(144A)
4,270,000
4,287,609
Hyundai
Capital
America,
0.8000%, 1/8/24
(144A)
9,050,000
8,967,729
Hyundai
Capital
America,
0.8750%, 6/14/24
(144A)
6,660,000
6,585,725
Hyundai
Capital
America,
1.0000%, 9/17/24
(144A)
7,845,000
7,767,996
McDonald's
Corp.,
90
Day
Australian
Bank
Bill
Rate
+
1.1300%,
1.1407%, 3/8/24
AUD
1,390,000
1,055,192
McDonald's
Corp.,
3.0000%, 3/8/24
5,850,000
4,515,421
McDonald's
Corp.,
3.1250%, 3/4/25
CAD
17,080,000
14,329,949
Mercedes-Benz
Australia,
2.5000%, 3/20/22
AUD
6,870,000
5,199,057
Janus
Henderson
Short
Duration
Income
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
Corporate
Bonds
-
(continued)
Consumer,
Cyclical
-
(continued)
Mercedes-Benz
Australia,
0.7500%, 1/22/24
AUD
260,000
$
191,997
Stellantis
Finance
US,
Inc.,
1.7110%, 1/29/27
(144A)
$
21,842,000
21,498,144
Toyota
Motor
Corp.,
0.6810%, 3/25/24
2,700,000
2,687,967
Toyota
Motor
Credit
Corp.,
0.4500%, 1/11/24
12,250,000
12,157,923
Toyota
Motor
Credit
Corp.,
0.5000%, 6/18/24
11,460,000
11,334,459
Toyota
Motor
Credit
Corp.,
1.8000%, 2/13/25
7,500,000
7,655,854
Volkswagen
Financial
Services
Australia
Pty.
Ltd.,
3.3000%, 2/28/22
AUD
3,140,000
2,379,477
Volkswagen
Financial
Services
Australia
Pty.
Ltd.,
3.1000%, 4/17/23
1,100,000
846,536
Volkswagen
Group
of
America
Finance
LLC,
ICE
LIBOR
USD
3
Month
+
0.9400%,
1.0627%, 11/12/21
(144A)
$
10,000,000
10,002,401
Volkswagen
Group
of
America
Finance
LLC,
2.9000%, 5/13/22
(144A)
2,400,000
2,431,615
Volkswagen
Group
of
America
Finance
LLC,
0.8750%, 11/22/23
(144A)
12,300,000
12,290,272
Walmart,
Inc.,
1.0500%, 9/17/26
12,800,000
12,684,638
256,519,756
Consumer,
Non-cyclical
-
9.0%
Avery
Dennison
Corp.,
0.8500%, 8/15/24
6,450,000
6,406,501
Boston
Scientific
Corp.,
3.4500%, 3/1/24
3,200,000
3,374,741
Boston
Scientific
Corp.,
3.7500%, 3/1/26
875,000
951,153
Cardinal
Health,
Inc.,
3.0790%, 6/15/24
21,000,000
22,036,280
Centene
Corp.,
4.2500%, 12/15/27
13,229,000
13,857,377
Conagra
Brands,
Inc.,
0.5000%, 8/11/23
4,500,000
4,480,103
ConnectEast
Finance
Pty.
Ltd.,
4.2500%, 2/25/22
AUD
2,200,000
1,656,915
ConnectEast
Finance
Pty.
Ltd.,
3.4000%, 3/25/26
1,000,000
776,485
CVS
Health
Corp.,
4.7500%, 12/1/22
$
5,300,000
5,480,133
CVS
Health
Corp.,
3.3750%, 8/12/24
7,485,000
7,920,425
CVS
Health
Corp.,
2.6250%, 8/15/24
3,880,000
4,043,790
Hershey
Co.
(The),
0.9000%, 6/1/25
7,906,000
7,851,068
Hershey
Co.
(The),
2.3000%, 8/15/26
4,094,000
4,260,065
Hormel
Foods
Corp.,
0.6500%, 6/3/24
5,500,000
5,482,230
Humana,
Inc.,
0.6500%, 8/3/23
9,750,000
9,739,559
Humana,
Inc.,
1.3500%, 2/3/27
4,550,000
4,430,688
Johnson
&
Johnson,
0.5500%, 9/1/25
23,690,000
23,320,412
Lonsdale
Finance
Pty.
Ltd.,
2.4500%, 11/20/26
AUD
3,910,000
2,893,969
Lonsdale
Finance
Pty.
Ltd.,
2.1000%, 10/15/27
400,000
285,869
Mars,
Inc.,
2.7000%, 4/1/25
(144A)
$
4,257,000
4,462,301
Mondelez
International
Holdings
Netherlands
BV,
0.7500%, 9/24/24
(144A)
5,775,000
5,719,756
Mondelez
International,
Inc.,
3.2500%, 3/7/25
CAD
4,100,000
3,436,386
Nestle
Holdings,
Inc.,
0.3750%, 1/15/24
(144A)
$
12,070,000
11,966,733
PayPal
Holdings,
Inc.,
1.3500%, 6/1/23
20,939,000
21,203,872
PerkinElmer,
Inc.,
0.5500%, 9/15/23
4,550,000
4,535,557
PerkinElmer,
Inc.,
0.8500%, 9/15/24
23,550,000
23,370,234
Square,
Inc.,
2.7500%, 6/1/26
(144A)
3,220,000
3,255,402
Teva
Pharmaceutical
Finance
IV
BV,
3.6500%, 11/10/21
1,272,000
1,272,000
Thermo
Fisher
Scientific,
Inc.,
0.7970%, 10/18/23
13,950,000
13,954,499
Thermo
Fisher
Scientific,
Inc.,
1.2150%, 10/18/24
13,950,000
13,965,068
Unilever
Capital
Corp.,
0.6260%, 8/12/24
6,550,000
6,490,730
WSO
Finance
Pty.
Ltd.,
3.5000%, 7/14/23
AUD
3,150,000
2,434,976
WSO
Finance
Pty.
Ltd.,
4.5000%, 3/31/27
910,000
747,959
WSO
Finance
Pty.
Ltd.,
4.5000%, 9/30/27
5,000,000
4,150,443
250,213,679
Diversified
-
0.4%
CK
Hutchison
International
17
II
Ltd.,
2.7500%, 3/29/23
(144A)
$
1,200,000
1,234,712
CK
Hutchison
International
17
Ltd.,
2.8750%, 4/5/22
4,220,000
4,257,389
Janus
Henderson
Short
Duration
Income
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
Corporate
Bonds
-
(continued)
Diversified
-
(continued)
CK
Hutchison
International
19
Ltd.,
3.2500%, 4/11/24
(144A)
$
5,700,000
$
6,017,154
11,509,255
Energy
-
1.2%
Harvest
Operations
Corp.,
4.2000%, 6/1/23
(144A)
2,900,000
3,043,420
Harvest
Operations
Corp.,
1.0000%, 4/26/24
(144A)
6,150,000
6,143,235
SA
Global
Sukuk
Ltd.,
0.9460%, 6/17/24
(144A)
6,550,000
6,477,426
Sinopec
Capital
2013
Ltd.,
3.1250%, 4/24/23
260,000
267,485
Sinopec
Group
Overseas
Development
2018
Ltd.,
3.7500%, 9/12/23
600,000
629,638
Sinopec
Group
Overseas
Development
2018
Ltd.,
3.7500%, 9/12/23
(144A)
5,000,000
5,246,984
Sinopec
Group
Overseas
Development
2018
Ltd.,
2.5000%, 8/8/24
(144A)
3,300,000
3,409,327
Sinopec
Group
Overseas
Development
2018
Ltd.,
2.5000%, 11/12/24
(144A)
2,300,000
2,385,404
Sinopec
Group
Overseas
Development
2018
Ltd.,
1.4500%, 1/8/26
(144A)
5,500,000
5,420,624
33,023,543
Financial
-
47.8%
AAI
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
3.2000%,
3.2150%, 10/6/42
AUD
7,170,000
5,493,681
AerCap
Ireland
Capital
DAC,
1.6500%, 10/29/24
$
14,625,000
14,657,962
AerCap
Ireland
Capital
DAC,
1.7500%, 10/29/24
16,000,000
16,013,413
AerCap
Ireland
Capital
DAC,
1.7500%, 1/30/26
8,100,000
7,969,293
AerCap
Ireland
Capital
DAC,
3.6500%, 7/21/27
3,095,000
3,280,492
Agricultural
Bank
of
China
Ltd.,
0.8500%, 1/19/24
9,985,000
9,938,411
Air
Lease
Corp.,
0.8000%, 8/18/24
16,060,000
15,797,234
Air
Lease
Corp.,
1.8750%, 8/17/26
6,235,000
6,169,586
American
Tower
Corp.,
3.3750%, 5/15/24
1,350,000
1,424,576
American
Tower
Corp.,
1.6000%, 4/15/26
10,110,000
10,054,771
American
Tower
Corp.,
1.4500%, 9/15/26
1,600,000
1,576,205
ANZ
New
Zealand
Int'l
Ltd.,
3.4000%, 3/19/24
(144A)
1,000,000
1,058,507
ANZ
New
Zealand
Int'l
Ltd.,
1.2500%, 6/22/26
(144A)
13,900,000
13,675,935
Athene
Global
Funding,
0.9140%, 8/19/24
(144A)
13,850,000
13,744,573
Athene
Global
Funding,
1.6080%, 6/29/26
(144A)
14,850,000
14,687,659
Australia
&
New
Zealand
Banking
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.0300%,
1.0420%, 12/6/23
AUD
650,000
495,750
Australia
&
New
Zealand
Banking
Group
Ltd.,
5-year
AUD
Swap
Offer
Rate
+
1.8500%,
4.7500%, 5/13/27
3,170,000
2,428,876
Australia
&
New
Zealand
Banking
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.0000%,
2.0400%, 7/26/29
390,000
300,486
Australia
&
New
Zealand
Banking
Group
Ltd.,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.2880%,
2.9500%, 7/22/30
(144A)
$
23,781,000
24,514,168
Aviation
Capital
Group
LLC,
1.9500%, 1/30/26
(144A)
12,420,000
12,259,322
Aviation
Capital
Group
LLC,
1.9500%, 9/20/26
(144A)
15,250,000
14,954,656
Banco
Santander
SA,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.9000%,
1.7220%, 9/14/27
6,400,000
6,303,507
Bank
of
America
Corp.,
SOFR
+
1.4600%,
1.4860%, 5/19/24
8,350,000
8,441,809
Bank
of
America
Corp.,
ICE
LIBOR
USD
3
Month
+
0.9700%,
3.4580%, 3/15/25
2,800,000
2,951,472
Bank
of
America
Corp.,
SOFR
+
0.9100%,
0.9810%, 9/25/25
18,130,000
18,019,297
Bank
of
America
Corp.,
0.6000%, 1/26/26
Ç
2,000,000
1,935,902
Bank
of
America
Corp.,
SOFR
+
0.9100%,
1.6580%, 3/11/27
18,570,000
18,483,747
Bank
of
America
Corp.,
SOFR
+
0.9600%,
1.7340%, 7/22/27
6,650,000
6,607,191
Bank
of
China
Ltd.,
5.0000%, 11/13/24
4,537,000
4,970,229
Bank
of
Montreal,
2.5000%, 6/28/24
150,000
156,053
Bank
of
Montreal,
0.6250%, 7/9/24
19,900,000
19,714,568
Bank
of
Montreal,
90
Day
Australian
Bank
Bill
Rate
+
1.0000%,
1.0341%, 7/17/24
AUD
350,000
267,184
Bank
of
Montreal,
1.8500%, 5/1/25
$
8,100,000
8,271,393
Bank
of
Nova
Scotia
(The),
2.3750%, 1/18/23
70,000
71,578
Janus
Henderson
Short
Duration
Income
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
Corporate
Bonds
-
(continued)
Financial
-
(continued)
Bank
of
Nova
Scotia
(The),
0.7000%, 4/15/24
$
7,040,000
$
6,998,153
Bank
of
Nova
Scotia
(The),
1.3000%, 6/11/25
8,000,000
7,996,583
Bank
of
Nova
Scotia
(The),
1.0500%, 3/2/26
16,900,000
16,553,950
Bank
of
Queensland
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.0200%,
1.0357%, 11/16/21
AUD
1,500,000
1,127,037
Bank
of
Queensland
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.1000%,
1.1702%, 10/30/24
980,000
747,958
Bank
of
Queensland
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.8500%,
1.8690%, 5/1/28
19,000,000
14,450,082
Barclays
plc,
ICE
LIBOR
USD
3
Month
+
1.4300%,
1.5548%, 2/15/23
$
15,200,000
15,251,191
Barclays
plc,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.8000%,
1.0070%, 12/10/24
8,000,000
7,999,805
Bendigo
&
Adelaide
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.8000%,
2.8104%, 12/9/26
AUD
11,480,000
8,641,176
Bendigo
&
Adelaide
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.4500%,
2.4616%, 11/30/28
24,600,000
19,026,565
Charles
Schwab
Corp.
(The),
0.7500%, 3/18/24
$
14,200,000
14,178,766
Charles
Schwab
Corp.
(The),
1.1500%, 5/13/26
16,500,000
16,361,624
Charter
Hall
Exchange
Finance
Pty.
Ltd.,
2.3170%, 9/25/30
AUD
3,700,000
2,574,795
Charter
Hall
LWR
Pty.
Ltd.,
2.0860%, 3/3/28
470,000
335,150
Citigroup,
Inc.,
SOFR
+
0.6690%,
0.9810%, 5/1/25
$
20,090,000
20,001,534
Citigroup,
Inc.,
SOFR
+
0.7650%,
1.1220%, 1/28/27
23,650,000
23,089,869
Citigroup,
Inc.,
SOFR
+
0.7700%,
1.4620%, 6/9/27
16,950,000
16,697,999
Commonwealth
Bank
of
Australia,
90
Day
Australian
Bank
Bill
Rate
+
1.1300%,
1.1550%, 1/11/24
AUD
200,000
152,935
Commonwealth
Bank
of
Australia,
3.3500%, 6/4/24
$
7,194,000
7,634,020
Commonwealth
Bank
of
Australia,
1.1250%, 6/15/26
(144A)
19,400,000
19,093,034
Commonwealth
Bank
of
Australia,
90
Day
Australian
Bank
Bill
Rate
+
1.8000%,
1.8130%, 9/10/30
AUD
2,500,000
1,914,724
Commonwealth
Bank
of
Australia,
90
Day
Australian
Bank
Bill
Rate
+
1.3200%,
1.3300%, 8/20/31
24,500,000
18,327,422
Cooperatieve
Rabobank
UA,
ICE
LIBOR
USD
3
Month
+
0.8600%,
0.9923%, 9/26/23
(144A)
$
3,500,000
3,543,289
Cooperatieve
Rabobank
UA,
0.3750%, 1/12/24
12,200,000
12,079,692
Cooperatieve
Rabobank
UA,
2.6250%, 7/22/24
(144A)
1,000,000
1,042,518
Cooperatieve
Rabobank
UA,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.0000%,
1.3390%, 6/24/26
(144A)
5,400,000
5,364,324
DBS
Group
Holdings
Ltd.,
2.8500%, 4/16/22
(144A)
3,600,000
3,636,252
DBS
Group
Holdings
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.5800%,
1.5927%, 3/16/28
AUD
26,020,000
19,766,328
DBS
Group
Holdings
Ltd.,
USD
ICE
Swap
Rate
5
Year
+
1.5900%,
4.5200%, 12/11/28
$
3,270,000
3,483,781
DBS
Group
Holdings
Ltd.,
USD
ICE
Swap
Rate
5
Year
+
1.5900%,
4.5200%, 12/11/28
(144A)
3,600,000
3,835,355
DEXUS
Finance
Pty.
Ltd.,
4.2000%, 11/9/22
AUD
3,000,000
2,327,230
Dexus
Wholesale
Property
Fund,
4.7500%, 6/16/25
2,470,000
2,004,485
Equinix
,
Inc.,
1.4500%, 5/15/26
$
16,690,000
16,491,536
GAIF
Bond
Issuer
Pty.
Ltd.,
3.4000%, 9/30/26
3,509,000
3,759,884
GAIF
Bond
Issuer
Pty.
Ltd.,
3.4000%, 9/30/26
(144A)
3,290,000
3,525,226
GE
Capital
International
Funding
Co.
Unlimited
Co.,
3.3730%, 11/15/25
9,960,000
10,745,369
General
Property
Trust,
3.5910%, 11/7/23
AUD
1,500,000
1,167,684
General
Property
Trust,
3.6725%, 9/19/24
2,200,000
1,727,848
Goldman
Sachs
Group,
Inc.
(The),
SOFR
+
0.5720%,
0.6730%, 3/8/24
$
12,000,000
11,969,077
Goldman
Sachs
Group,
Inc.
(The),
SOFR
+
0.5050%,
0.6570%, 9/10/24
18,762,000
18,663,830
Janus
Henderson
Short
Duration
Income
ETF
Schedule
of
Investments
October
31,
2021
10
October
31,
2021
See
Notes
to
Schedule
of
Investments
and
Other
Information
and
Notes
to
Financial
Statements.
Shares/
Principal
Amounts
Value
Corporate
Bonds
-
(continued)
Financial
-
(continued)
Goldman
Sachs
Group,
Inc.
(The),
3.5000%, 4/1/25
$
6,500,000
$
6,940,126
Goldman
Sachs
Group,
Inc.
(The),
ICE
LIBOR
USD
3
Month
+
1.2010%,
3.2720%, 9/29/25
2,475,000
2,612,204
Goldman
Sachs
Group,
Inc.
(The),
SOFR
+
0.8180%,
1.5420%, 9/10/27
18,763,000
18,448,971
GPT
Wholesale
Office
Fund
No.1,
4.0000%, 5/18/22
AUD
2,000,000
1,504,547
GPT
Wholesale
Shopping
Centre
Fund
No.
1,
3.9930%, 9/11/24
5,780,000
4,499,345
GTA
Finance
Co.
Pty.
Ltd.,
2.2000%, 8/26/27
330,000
235,591
HSBC
Holdings
plc,
SOFR
+
0.5340%,
0.7320%, 8/17/24
$
6,390,000
6,362,393
HSBC
Holdings
plc,
SOFR
+
0.7075%,
0.9760%, 5/24/25
10,000,000
9,917,302
ICBCIL
Finance
Co.
Ltd.,
3.6500%, 3/5/22
980,000
988,620
Insurance
Australia
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.4500%,
2.4610%, 12/15/36
AUD
7,360,000
5,722,282
Insurance
Australia
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.1000%,
2.1110%, 6/15/44
17,350,000
13,218,161
Insurance
Australia
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.3500%,
2.3610%, 6/15/45
6,730,000
5,182,305
JPMorgan
Chase
&
Co.,
SOFR
+
0.4200%,
0.5630%, 2/16/25
$
8,000,000
7,918,406
JPMorgan
Chase
&
Co.,
SOFR
+
0.5400%,
0.8240%, 6/1/25
7,240,000
7,183,676
JPMorgan
Chase
&
Co.,
SOFR
+
0.5800%,
0.9690%, 6/23/25
11,835,000
11,767,565
JPMorgan
Chase
&
Co.,
SOFR
+
1.1600%,
2.3010%, 10/15/25
390,000
401,881
JPMorgan
Chase
&
Co.,
SOFR
+
0.8000%,
1.0450%, 11/19/26
21,170,000
20,656,947
JPMorgan
Chase
&
Co.,
SOFR
+
0.6950%,
1.0400%, 2/4/27
10,000,000
9,713,956
Liberty
Financial
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
3.2500%,
3.2616%, 3/7/22
AUD
8,300,000
6,272,495
Liberty
Financial
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.6000%,
2.6120%, 3/6/23
2,600,000
1,968,078
Liberty
Financial
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.3500%,
2.3634%, 2/26/24
5,940,000
4,478,084
Liberty
Financial
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.4500%,
2.4635%, 3/17/25
2,530,000
1,905,435
Liberty
Financial
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.5500%,
2.5608%, 5/25/26
4,920,000
3,724,013
Lloyds
Banking
Group
plc,
90
Day
Australian
Bank
Bill
Rate
+
1.3000%,
1.3129%, 3/20/23
3,310,000
2,516,225
Lloyds
Banking
Group
plc,
3.6500%, 3/20/23
1,500,000
1,164,102
Lloyds
Banking
Group
plc,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.1000%,
1.3260%, 6/15/23
$
9,300,000
9,342,120
Lloyds
Banking
Group
plc,
ICE
LIBOR
USD
3
Month
+
0.8100%,
2.9070%, 11/7/23
3,400,000
3,475,873
Lloyds
Banking
Group
plc,
3.9000%, 11/23/23
AUD
3,700,000
2,905,639
Lloyds
Banking
Group
plc,
3.9000%, 3/12/24
$
4,880,000
5,206,977
Lloyds
Banking
Group
plc,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.5500%,
0.6950%, 5/11/24
5,700,000
5,692,277
Macquarie
Bank
Ltd.,
2.3000%, 1/22/25
(144A)
12,240,000
12,608,821
Macquarie
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.9000%,