ANNUAL
REPORT
October
31,
2021
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
ETF
Janus
Detroit
Street
Trust
Table
of
Contents
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
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
...................
15
Statement
of
Operations
..........................
16
Statements
of
Changes
in
Net
Assets
.................
17
Financial
Highlights
..............................
18
Notes
to
Financial
Statements
......................
19
Additional
Information
............................
28
Trustees
and
Officers
............................
30
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
ETF
(unaudited)
Janus
Detroit
Street
Trust
1
INVESTMENT
OBJECTIVE
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
ETF
(JSMD)
seeks
investment
results
that
correspond
generally,
before
fees
and
expenses,
to
the
performance
of
its
underlying
index,
the
Janus
Henderson
Small/
Mid
Cap
Growth
Alpha
Index.
It
pursues
its
investment
objective
by
using
a
passive
index-based
approach,
normally
investing
at
least
80%
of
its
net
assets
in
securities
that
comprise
its
underlying
index.
PERFORMANCE
OVERVIEW
U.S.
small-
and
mid-cap
equities
rose
for
the
period,
but
were
volatile.
Stocks
advanced
strongly
in
the
fourth
quarter
of
2020
as
resilient
economic
and
earnings
growth
and
optimism
over
new
COVID-19
vaccines
lifted
investor
sentiment.
Congress
also
passed
the
$1.9
trillion
American
Rescue
Plan,
which
included
cash
payments
to
most
households.
Stock
market
gains
continued
through
the
first
half
of
2021,
as
an
accelerating
vaccine
rollout
helped
support
healthy
economic
and
earnings
growth.
However,
stocks
suffered
periods
of
downward
volatility,
especially
in
the
third
quarter
of
2021
as
the
spread
of
the
new
Delta
variant
led
to
renewed
pandemic
concerns.
Supply
constraints
and
higher
input
costs
also
fueled
inflation,
which
drove
interest
rates
higher
late
in
the
third
quarter.
The
Federal
Reserve
signaled
it
would
likely
begin
tapering
its
monetary
support
before
year-end,
which
added
to
upward
pressure
on
interest
rates.
Through
much
of
the
period,
investors
shifted
between
growth
stocks
and
more
cyclically
driven
value
opportunities.
Small-
and
mid-cap
growth
stocks
in
the
Russell
2500
TM
Growth
Index
ended
the
12-month
period
with
solid
gains
but
underperformed
the
broader
small-
and
mid-cap
universe,
as
measured
by
the
Russell
2500
TM
Index.
During
the
period,
the
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
ETF
(JSMD)
returned
29.81%
(based
on
NAV);
its
primary
benchmark,
the
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
Index,
returned
30.18%,
and
its
secondary
benchmark,
the
Russell
2500
Growth
Index,
returned
37.12%.
JSMD
seeks
investment
results
that
correspond
generally,
before
fees
and
expenses,
to
the
performance
of
its
primary
benchmark.
The
strategy
seeks
to
provide
risk-adjusted
outperformance
by
identifying
top-tier
small-
and
mid-cap
companies
with
some
of
the
strongest
fundamentals
that
the
advisor
believes
can
deliver
sustainable
growth
in
a
variety
of
market
environments.
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
ETF
(unaudited)
Fund
At
A
Glance
October
31,
2021
2
October
31,
2021
Holdings
are
subject
to
change
without
notice.
5
Largest
Equity
Holdings
(%
of
Net
Assets)
PPD,
Inc.
Life
Sciences
Tools
&
Services
3.1%
Ubiquiti,
Inc.
Communications
Equipment
2.9%
Paylocity
Holding
Corp.
Software
2.7%
Bentley
Systems,
Inc.
Software
2.5%
Medpace
Holdings,
Inc.
Life
Sciences
Tools
&
Services
2.3%
13.5%
Sector
Allocation
(%
of
Net
Assets)
Consumer,
Non-cyclical
32.9%
Technology
20.4%
Consumer,
Cyclical
13.3%
Industrial
13.2%
Financial
9.5%
Communications
8.1%
Investments
Purchased
with
Cash
Collateral
from
Securities
Lending
3.1%
Basic
Materials
1.8%
Utilities
0.6%
Energy
0.2%
Investment
Companies
0.0%
103.1%
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
ETF
(unaudited)
Performance
Janus
Detroit
Street
Trust
3
Total
annual
expense
ratio
as
stated
in
the
prospectus:
0.30%.
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.
High
absolute
short-term
performance
is
not
typical
and
may
not
be
achieved
in
the
future.
Such
results
should
not
be
the
sole
basis
for
evaluating
material
facts
in
making
an
investment
decision.
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.
The
index
provider
is
Janus
Henderson
Indices
LLC
(“JH
Indices”).
JH
Indices
maintains
the
indices
and
calculates
the
index
levels
and
performance
shown
or
discussed
but
does
not
manage
actual
assets.
JH
Indices
receives
compensation
in
connection
with
licensing
its
indices
to
third
parties
including
the
provision
of
any
related
data.
JH
Indices
does
not
receive
compensation
for
licensing
the
index
to
Janus
Capital
Management
LLC
with
respect
to
the
Fund.
Average
Annual
Total
Return
for
the
periods
ended
October
31,
2021
One
Year
Five
Years
Since
Inception
*
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
ETF
-
NAV
29.81%
19.08%
19.78%
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
ETF
-
Market
Price
29.75%
19.07%
19.79%
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
Index
30.18%
19.52%
20.25%
Russell
2500
TM
Growth
Index
37.12%
20.69%
20.81%
*
The
Fund
commenced
operations
on
February
23,
2016.
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
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
$993.10
$1.51
$1,000.00
$1,023.69
$1.53
0.30%
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
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,
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
five
years
in
the
period
ended
October
31,
2021
(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
five
years
in
the
period
ended
October
31,
2021
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
transfer
agent.
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
Small/Mid
Cap
Growth
Alpha
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
Common
Stocks
-
100.0%
Aerospace
&
Defense
-
0.3%
Aerojet
Rocketdyne
Holdings,
Inc.
12,858
$
565,881
Auto
Components
-
0.9%
Fox
Factory
Holding
Corp.*
5,111
822,615
LCI
Industries
3,068
428,416
Patrick
Industries,
Inc.
2,875
223,991
XPEL,
Inc.*
3,351
254,341
1,729,363
Banks
-
2.6%
Amalgamated
Financial
Corp.
1,877
34,462
Ameris
Bancorp
4,207
220,405
Bancorp,
Inc.
(The)*
3,439
105,061
Bank
First
Corp.
#
463
32,868
Business
First
Bancshares,
Inc.
1,238
33,030
Byline
Bancorp,
Inc.
2,276
58,630
Camden
National
Corp.
903
42,983
Coastal
Financial
Corp.*
725
27,586
Farmers
National
Banc
Corp.
1,709
30,454
First
Citizens
BancShares
,
Inc.
-
Class
A
583
474,504
First
Financial
Bankshares
,
Inc.
8,585
435,431
First
Foundation,
Inc.
2,705
71,980
First
Horizon
Corp.
33,132
562,250
Glacier
Bancorp,
Inc.
6,669
368,729
Guaranty
Bancshares,
Inc.
727
27,292
HarborOne
Bancorp,
Inc.
3,326
47,795
Hilltop
Holdings,
Inc.
4,895
173,479
Independent
Bank
Corp.
1,299
29,266
Independent
Bank
Group,
Inc.
2,605
188,315
Live
Oak
Bancshares,
Inc.
2,583
230,352
Metropolitan
Bank
Holding
Corp.*
503
45,703
National
Bank
Holdings
Corp.
-
Class
A
1,859
80,625
Nicolet
Bankshares
,
Inc.*
584
41,984
Northrim
Bancorp,
Inc.
375
16,657
Orrstown
Financial
Services,
Inc.
681
16,147
Preferred
Bank
901
61,782
QCR
Holdings,
Inc.
952
52,493
Red
River
Bancshares,
Inc.
440
23,047
Reliant
Bancorp,
Inc.
995
33,711
ServisFirst
Bancshares,
Inc.
3,268
262,453
Silvergate
Capital
Corp.
-
Class
A*
1,599
250,435
SmartFinancial
,
Inc.
913
23,729
Spirit
of
Texas
Bancshares,
Inc.
1,037
25,230
UMB
Financial
Corp.
2,914
287,961
Western
Alliance
Bancorp
6,286
729,742
5,146,571
Beverages
-
1.7%
Boston
Beer
Co.,
Inc.
(The)
-
Class
A*
1,686
830,321
Celsius
Holdings,
Inc.*
12,307
1,187,872
Coca-Cola
Consolidated,
Inc.
1,181
474,053
National
Beverage
Corp.
15,422
869,801
3,362,047
Biotechnology
-
1.6%
Catalyst
Pharmaceuticals,
Inc.*
58,596
345,716
Emergent
BioSolutions
,
Inc.*
30,556
1,456,605
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
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
Common
Stocks
-
(continued)
Biotechnology
-
(continued)
Sage
Therapeutics,
Inc.*
33,465
$
1,350,647
3,152,968
Building
Products
-
3.4%
Advanced
Drainage
Systems,
Inc.
11,300
1,274,640
Builders
FirstSource
,
Inc.*
33,183
1,933,574
PGT
Innovations,
Inc.*
9,541
203,700
Simpson
Manufacturing
Co.,
Inc.
6,955
737,856
Trex
Co.,
Inc.*
18,473
1,965,527
UFP
Industries,
Inc.
9,905
810,526
6,925,823
Capital
Markets
-
2.9%
B
Riley
Financial,
Inc.
1,664
119,242
Cboe
Global
Markets,
Inc.
6,431
848,506
Cowen,
Inc.
-
Class
A
1,752
66,103
Evercore
,
Inc.
-
Class
A
2,392
363,201
FactSet
Research
Systems,
Inc.
2,260
1,003,192
Federated
Hermes,
Inc.
5,883
195,963
Focus
Financial
Partners,
Inc.
-
Class
A*
3,606
226,673
Hamilton
Lane,
Inc.
-
Class
A
2,189
228,773
Houlihan
Lokey
,
Inc.
3,057
342,629
Interactive
Brokers
Group,
Inc.
-
Class
A
5,920
419,432
LPL
Financial
Holdings,
Inc.
4,840
793,857
PJT
Partners,
Inc.
-
Class
A
1,475
120,640
StepStone
Group,
Inc.
-
Class
A
2,432
114,255
Stifel
Financial
Corp.
6,321
460,611
Tradeweb
Markets,
Inc.
-
Class
A
6,349
565,696
Victory
Capital
Holdings,
Inc.
-
Class
A
967
36,649
5,905,422
Chemicals
-
2.2%
Ingevity
Corp.*
15,105
1,176,830
Scotts
Miracle-
Gro
Co.
(The)
21,328
3,166,355
4,343,185
Commercial
Services
&
Supplies
-
2.0%
IAA,
Inc.*
21,586
1,287,605
Rollins,
Inc.
78,802
2,776,194
4,063,799
Communications
Equipment
-
5.1%
Ciena
Corp.*
49,548
2,689,961
Lumentum
Holdings,
Inc.*
23,275
1,922,049
Ubiquiti,
Inc.
18,892
5,772,073
10,384,083
Construction
&
Engineering
-
1.3%
Comfort
Systems
USA,
Inc.
5,815
531,898
Construction
Partners,
Inc.
-
Class
A*
5,847
208,212
IES
Holdings,
Inc.*
3,339
166,449
MYR
Group,
Inc.*
2,703
276,111
Primoris
Services
Corp.
8,603
231,851
WillScot
Mobile
Mini
Holdings
Corp.*
36,220
1,258,645
2,673,166
Construction
Materials
-
1.2%
Eagle
Materials,
Inc.
16,009
2,375,095
Consumer
Finance
-
0.8%
Atlanticus
Holdings
Corp.*
998
77,335
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
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
Common
Stocks
-
(continued)
Consumer
Finance
-
(continued)
Upstart
Holdings,
Inc.*
4,690
$
1,510,368
1,587,703
Containers
&
Packaging
-
1.7%
Berry
Global
Group,
Inc.*
51,717
3,389,532
Diversified
Consumer
Services
-
0.9%
Frontdoor
,
Inc.*
10,409
388,047
Service
Corp.
International
20,342
1,393,224
1,781,271
Diversified
Financial
Services
-
0.0%
Alerus
Financial
Corp.
1,039
32,625
Electrical
Equipment
-
0.2%
Array
Technologies,
Inc.*
20,335
434,152
Electronic
Equipment,
Instruments
&
Components
-
1.8%
ePlus
,
Inc.*
4,322
477,884
Insight
Enterprises,
Inc.*
11,159
1,056,757
Napco
Security
Technologies,
Inc.*
5,874
281,717
SYNNEX
Corp.
16,627
1,745,835
3,562,193
Entertainment
-
0.1%
Akazoo
SA*
851
Sciplay
Corp.
-
Class
A
#
,*
1,268
25,626
World
Wrestling
Entertainment,
Inc.
-
Class
A
2,340
142,951
168,577
Equity
Real
Estate
Investment
Trusts
(REITs)
-
0.6%
American
Homes
4
Rent
-
Class
A
6,396
259,678
CareTrust
REIT,
Inc.
1,927
39,985
CoreSite
Realty
Corp.
878
125,080
CyrusOne
,
Inc.
2,463
202,015
Essential
Properties
Realty
Trust,
Inc.
2,349
69,977
Innovative
Industrial
Properties,
Inc.
476
125,231
National
Storage
Affiliates
Trust
1,762
110,055
Safehold
,
Inc.
1,060
79,182
STAG
Industrial,
Inc.
3,216
139,992
Terreno
Realty
Corp.
1,402
102,528
1,253,723
Food
&
Staples
Retailing
-
1.2%
BJ's
Wholesale
Club
Holdings,
Inc.*
22,566
1,318,757
Grocery
Outlet
Holding
Corp.*
15,852
351,756
Sprouts
Farmers
Market,
Inc.*
18,872
417,826
Weis
Markets,
Inc.
4,444
250,242
2,338,581
Food
Products
-
0.2%
Tattooed
Chef,
Inc.*
13,543
243,368
Vital
Farms,
Inc.*
6,603
108,421
351,789
Gas
Utilities
-
0.1%
Southwest
Gas
Holdings,
Inc.
3,939
272,776
Health
Care
Equipment
&
Supplies
-
4.7%
Figs,
Inc.
-
Class
A
#
,*
84,016
2,823,778
Inari
Medical,
Inc.*
28,412
2,571,854
LeMaitre
Vascular,
Inc.
12,324
640,971
Quidel
Corp.*
23,691
3,145,454
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
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
Common
Stocks
-
(continued)
Health
Care
Equipment
&
Supplies
-
(continued)
Zynex
,
Inc.*
19,777
$
247,806
9,429,863
Health
Care
Providers
&
Services
-
8.2%
Addus
HomeCare
Corp.*
9,056
846,736
Amedisys
,
Inc.*
18,569
3,144,474
Chemed
Corp.
8,951
4,316,620
Fulgent
Genetics,
Inc.*
16,798
1,392,890
Innovage
Holding
Corp.*
77,110
510,468
Joint
Corp.
(The)*
8,179
715,499
National
Research
Corp.
14,475
626,768
Pennant
Group,
Inc.
(The)*
16,138
412,649
Privia
Health
Group,
Inc.*
60,169
1,546,343
Progyny
,
Inc.*
50,865
3,124,637
16,637,084
Health
Care
Technology
-
1.2%
Doximity
,
Inc.
-
Class
A*
27,799
1,931,474
Simulations
Plus,
Inc.
11,456
578,528
2,510,002
Hotels,
Restaurants
&
Leisure
-
0.3%
Wingstop
,
Inc.
3,610
622,617
Household
Durables
-
3.0%
Cavco
Industries,
Inc.*
1,115
268,024
Century
Communities,
Inc.
4,093
274,477
Cricut
,
Inc.
-
Class
A
#
,*
2,969
84,112
Green
Brick
Partners,
Inc.*
6,162
160,520
Helen
of
Troy
Ltd.*
2,927
658,429
Installed
Building
Products,
Inc.
3,605
458,015
iRobot
Corp.*
3,404
283,962
LGI
Homes,
Inc.*
2,990
446,407
Lovesac
Co.
(The)*
1,832
142,914
M/I
Homes,
Inc.*
3,559
203,788
MDC
Holdings,
Inc.
8,573
419,905
Meritage
Homes
Corp.*
4,569
496,696
Tempur
Sealy
International,
Inc.
23,855
1,060,832
TopBuild
Corp.*
3,998
1,027,366
5,985,447
Independent
Power
and
Renewable
Electricity
Producers
-
0.3%
Vistra
Corp.
32,165
630,112
Insurance
-
2.0%
American
Equity
Investment
Life
Holding
Co.
5,580
177,835
Brown
&
Brown,
Inc.
16,986
1,071,987
Enstar
Group
Ltd.*
1,012
233,549
Fidelity
National
Financial,
Inc.
17,209
824,483
First
American
Financial
Corp.
6,628
484,772
Investors
Title
Co.
115
22,287
Kinsale
Capital
Group,
Inc.
1,376
257,518
Mercury
General
Corp.
3,339
181,942
Palomar
Holdings,
Inc.*
1,531
140,010
Primerica,
Inc.
2,381
400,579
Selectquote
,
Inc.*
9,854
130,960
Stewart
Information
Services
Corp.
1,623
115,509
4,041,431
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
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
Common
Stocks
-
(continued)
Interactive
Media
&
Services
-
0.1%
Cargurus
,
Inc.*
5,209
$
174,710
ZipRecruiter,
Inc.
-
Class
A*
4,302
119,509
294,219
Internet
&
Direct
Marketing
Retail
-
0.6%
1-800-Flowers.com,
Inc.
-
Class
A*
4,484
144,026
Poshmark
,
Inc.
-
Class
A*
4,891
118,998
Revolve
Group,
Inc.*
4,617
346,460
Shutterstock
,
Inc.
4,445
538,512
Waitr
Holdings,
Inc.*
14,233
27,612
1,175,608
IT
Services
-
3.2%
Concentrix
Corp.
16,718
2,970,454
Paymentus
Holdings,
Inc.
-
Class
A
#
,*
4,443
113,741
SolarWinds
Corp.
#
50,589
814,483
Squarespace,
Inc.
-
Class
A
#
,*
28,861
1,123,847
TTEC
Holdings,
Inc.
15,042
1,419,815
6,442,340
Leisure
Products
-
0.2%
American
Outdoor
Brands,
Inc.*
1,712
38,999
Johnson
Outdoors,
Inc.
-
Class
A
1,083
114,993
Malibu
Boats,
Inc.
-
Class
A*
2,531
178,714
332,706
Life
Sciences
Tools
&
Services
-
6.8%
Maravai
LifeSciences
Holdings,
Inc.
-
Class
A*
65,069
2,751,768
Medpace
Holdings,
Inc.*
20,382
4,617,542
PPD,
Inc.*
132,717
6,260,261
13,629,571
Machinery
-
1.0%
Energy
Recovery,
Inc.*
9,152
185,969
Hyliion
Holdings
Corp.*
27,712
224,190
Toro
Co.
(The)
17,145
1,636,833
2,046,992
Media
-
0.5%
Cable
One,
Inc.
312
533,898
Loral
Space
&
Communications,
Inc.
1,110
55,300
Nexstar
Media
Group,
Inc.
-
Class
A
2,166
324,748
PubMatic,
Inc.
-
Class
A*
2,408
68,821
982,767
Metals
&
Mining
-
1.2%
Royal
Gold,
Inc.
25,079
2,483,323
Mortgage
Real
Estate
Investment
Trusts
(REITs)
-
0.2%
Broadmark
Realty
Capital,
Inc.
7,999
82,549
Hannon
Armstrong
Sustainable
Infrastructure
Capital,
Inc.
4,742
286,417
368,966
Multiline
Retail
-
0.3%
Ollie's
Bargain
Outlet
Holdings,
Inc.*
7,924
536,138
Multi-Utilities
-
0.1%
Black
Hills
Corp.
4,231
280,854
Personal
Products
-
0.3%
BellRing
Brands,
Inc.
-
Class
A*
6,529
175,108
Medifast
,
Inc.
1,939
380,567
555,675
Janus
Henderson
Small/Mid
Cap
Growth
Alpha
ETF
Schedule
of
Investments
October
31,
2021
Janus
Detroit
Street
Trust
11
See
Notes
to
Schedule
of
Investments
and
Other
Information
and
Notes
to
Financial
Statements.
Shares/
Principal
Amounts
Value
Common
Stocks
-
(continued)
Pharmaceuticals
-
2.0%
Corcept
Therapeutics,
Inc.*
65,965
$
1,187,370
Innoviva
,
Inc.*
39,543
690,026
Pacira
BioSciences
,
Inc.*
25,297
1,322,527
Supernus
Pharmaceuticals,
Inc.*
30,239
902,634
4,102,557
Professional
Services
-
3.7%
ASGN,
Inc.*
8,471
1,013,640
Booz
Allen
Hamilton
Holding
Corp.
21,648
1,880,345
CACI
International,
Inc.
-
Class
A*
3,777
1,086,416
FTI
Consulting,
Inc.*
5,490
790,121
Insperity
,
Inc.
6,183
772,875
Legalzoom.com,
Inc.
#
,*
31,532
884,157
TriNet
Group,
Inc.*
10,546
1,067,783
7,495,337
Real
Estate
Management
&
Development
-
0.1%
eXp
World
Holdings,
Inc.
#
2,908
150,053
Road
&
Rail
-
1.3%
Marten
Transport
Ltd.
13,278
220,813
Saia,
Inc.*
4,216
1,318,090
TuSimple
Holdings,
Inc.
-
Class
A
#
,*
29,631
1,159,165
2,698,068
Semiconductors
&
Semiconductor
Equipment
-
6.0%
Amkor
Technology,
Inc.
78,225
1,714,692
CMC
Materials,
Inc.
9,356
1,201,030
FormFactor
,
Inc.*
24,852
988,612
MKS
Instruments,
Inc.
17,754
2,663,988
Power
Integrations,
Inc.
19,302
1,992,159
Ultra
Clean
Holdings,
Inc.*
14,309
709,297
Universal
Display
Corp.
15,084
2,763,389
12,033,167
Software
-
12.1%
Alarm.com
Holdings,
Inc.*
15,976
1,346,138
Appfolio
,
Inc.
-
Class
A*
6,080
800,675
Aspen
Technology,
Inc.*
21,474
3,364,761
Bentley
Systems,
Inc.
-
Class
B
86,463
5,114,287
DoubleVerify
Holdings,
Inc.
#
,*
50,534
1,997,609
Intelligent
Systems
Corp.
#
,*
2,801
118,566
ironSource
Ltd.
-
Class
A
#
,*
200,896
2,288,205
Olo
,
Inc.
-