SEMIANNUAL
REPORT
April
30,
2022
Janus
Henderson
Short
Duration
Income
ETF
Janus
Detroit
Street
Trust
Table
of
Contents
Janus
Henderson
Short
Duration
Income
ETF
Fund
At
A
Glance
...............................
1
Disclosure
of
Fund
Expenses
.......................
3
Schedule
of
Investments
..........................
4
Statement
of
Assets
and
Liabilities
...................
17
Statement
of
Operations
..........................
18
Statements
of
Changes
in
Net
Assets
.................
19
Financial
Highlights
..............................
20
Notes
to
Financial
Statements
......................
21
Additional
Information
............................
35
Board
Considerations
Regarding
Approval
of
Investment
Advisory
Agreements
...................................
36
Liquidity
Risk
Management
Program
.................
39
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.
Daniel
Siluk
Jason
England
co-portfolio
manager
co-portfolio
manager
Janus
Henderson
Short
Duration
Income
ETF
(unaudited)
Fund
At
A
Glance
April
30,
2022
Janus
Detroit
Street
Trust
1
Holdings
are
subject
to
change
without
notice.
Sector
Allocation
(%
of
Net
Assets)
Financial
46.3%
Consumer,
Non-cyclical
10.2%
Consumer,
Cyclical
8.5%
Industrial
7.0%
Utilities
4.5%
Communications
4.3%
Government
4.2%
Energy
4.1%
Technology
3.6%
Basic
Materials
1.6%
Exchange
Traded
Funds
1.1%
Mortgage-Backed
Securities
0.8%
Diversified
0.3%
Asset-Backed
Securities
0.0%
96.5%
Janus
Henderson
Short
Duration
Income
ETF
(unaudited)
Performance
2
April
30,
2022
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.
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
April
30,
2022
Prospectus
~
Expense
Ratio
Fiscal
Year-to-
Date
One
Year
Five
Years
Since
Inception
*
Total
Annual
Fund
Operating
Expenses
Janus
Henderson
Short
Duration
Income
ETF
-
NAV
-1.15%
-1.08%
1.77%
1.76%
0.23%
Janus
Henderson
Short
Duration
Income
ETF
-
Market
Price
-1.17%
-1.02%
1.77%
1.76%
FTSE
3-Month
U.S.
Treasury
Bill
Index
0.06%
0.08%
1.09%
1.04%
*
The
Fund
commenced
operations
on
November
16,
2016.
As
stated
in
the
prospectus.
See
Financial
Highlights
for
actual
expense
ratios
during
the
reporting
period.
Janus
Henderson
Short
Duration
Income
ETF
(unaudited)
Disclosure
of
Fund
Expenses
Janus
Detroit
Street
Trust
3
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
(11/1/21)
Ending
Account
Value
(4/30/22)
Expenses
Paid
During
Period
(11/1/21
-
4/30/22)
Beginning
Account
Value
(11/1/21)
Ending
Account
Value
(4/30/22)
Expenses
Paid
During
Period
(11/1/21
-
4/30/22)
Net
Annualized
Expense
Ratio
(11/1/21
-
4/30/22)
$1,000.00
$988.50
$1.13
$1,000.00
$1,023.65
$1.15
0.23%
Expenses
Paid
During
Period
is
equal
to
the
Net
Annualized
Expense
Ratio
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
181/365
(to
reflect
the
one-half
year
period).
Janus
Henderson
Short
Duration
Income
ETF
Schedule
of
Investments
(unaudited)
April
30,
2022
4
April
30,
2022
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%,
1.5850%,
10/16/27
(cost
$161,481)
AUD
218,849
$
155,795
Corporate
Bonds
-
79.3%
Basic
Materials
-
1.6%
Ecolab,
Inc.,
0.9000%, 12/15/23
$
6,500,000
6,297,794
Ecolab,
Inc.,
1.6500%, 2/1/27
7,500,000
6,900,401
Georgia-Pacific
LLC,
0.6250%, 5/15/24
(144A)
28,760,000
27,277,731
40,475,926
Communications
-
4.3%
Alphabet,
Inc.,
0.4500%, 8/15/25
17,460,000
16,094,176
Amazon.com,
Inc.,
2.7300%, 4/13/24
2,400,000
2,397,361
Amazon.com,
Inc.,
0.4500%, 5/12/24
16,050,000
15,321,715
Amazon.com,
Inc.,
0.8000%, 6/3/25
9,900,000
9,244,127
AT&T,
Inc.,
0.9000%, 3/25/24
25,530,000
24,520,790
eBay,
Inc.,
1.9000%, 3/11/25
9,700,000
9,235,232
Optus
Finance
Pty.
Ltd.,
4.0000%, 6/17/22
AUD
5,250,000
3,745,219
Optus
Finance
Pty.
Ltd.,
3.2500%, 8/23/22
4,500,000
3,216,495
Optus
Finance
Pty.
Ltd.,
3.2500%, 9/6/23
750,000
534,505
Optus
Finance
Pty.
Ltd.,
1.6000%, 7/1/25
700,000
462,755
Spark
Finance
Ltd.,
2.6000%, 3/18/30
990,000
610,330
Verizon
Communications,
Inc.,
90
Day
Australian
Bank
Bill
Rate
+
1.2200%,
1.3000%, 2/17/23
7,240,000
5,163,365
Verizon
Communications,
Inc.,
3.5000%, 2/17/23
2,170,000
1,553,041
Verizon
Communications,
Inc.,
0.7500%, 3/22/24
$
4,700,000
4,514,790
Verizon
Communications,
Inc.,
0.8500%, 11/20/25
6,770,000
6,180,145
Verizon
Communications,
Inc.,
1.4500%, 3/20/26
4,700,000
4,307,619
Walt
Disney
Co.
(The),
1.7500%, 8/30/24
3,470,000
3,358,802
110,460,467
Consumer,
Cyclical
-
7.5%
7-Eleven,
Inc.,
0.6250%, 2/10/23
(144A)
3,350,000
3,290,916
American
Honda
Finance
Corp.,
0.8750%, 7/7/23
1,665,000
1,630,173
American
Honda
Finance
Corp.,
0.5500%, 7/12/24
8,190,000
7,733,059
BMW
US
Capital
LLC,
0.7500%, 8/12/24
(144A)
4,500,000
4,260,346
BMW
US
Capital
LLC,
SOFRINDX
+
0.8400%,
1.1273%, 4/1/25
(144A)
7,025,000
7,045,424
BMW
US
Capital
LLC,
1.2500%, 8/12/26
(144A)
6,450,000
5,853,886
Daimler
Finance
North
America
LLC,
0.7500%, 3/1/24
(144A)
19,060,000
18,237,012
General
Motors
Financial
Co.,
Inc.,
1.7000%, 8/18/23
1,000,000
980,117
General
Motors
Financial
Co.,
Inc.,
1.0500%, 3/8/24
10,125,000
9,664,926
General
Motors
Financial
Co.,
Inc.,
1.2000%, 10/15/24
8,650,000
8,120,211
Home
Depot,
Inc.
(The),
2.7000%, 4/15/25
4,850,000
4,783,605
Hyundai
Capital
America,
1.2500%, 9/18/23
(144A)
4,270,000
4,142,442
Hyundai
Capital
America,
0.8000%, 1/8/24
(144A)
9,050,000
8,622,319
Hyundai
Capital
America,
0.8750%, 6/14/24
(144A)
6,660,000
6,253,504
Hyundai
Capital
America,
1.0000%, 9/17/24
(144A)
8,000,000
7,445,529
Magallanes,
Inc.,
3.4280%, 3/15/24
(144A)
6,430,000
6,387,452
McDonald's
Corp.,
90
Day
Australian
Bank
Bill
Rate
+
1.1300%,
1.2685%, 3/8/24
AUD
1,390,000
992,478
McDonald's
Corp.,
3.0000%, 3/8/24
5,950,000
4,191,925
McDonald's
Corp.,
3.1250%, 3/4/25
CAD
17,080,000
13,153,491
Mercedes-Benz
Australia,
0.7500%, 1/22/24
AUD
390,000
264,705
Toyota
Motor
Corp.,
0.6810%, 3/25/24
$
2,700,000
2,582,772
Toyota
Motor
Credit
Corp.,
0.4500%, 1/11/24
12,250,000
11,755,151
Toyota
Motor
Credit
Corp.,
0.5000%, 6/18/24
11,500,000
10,878,885
Toyota
Motor
Credit
Corp.,
1.8000%, 2/13/25
7,600,000
7,271,698
Volkswagen
Financial
Services
Australia
Pty.
Ltd.,
3.1000%, 4/17/23
AUD
1,100,000
782,921
Janus
Henderson
Short
Duration
Income
ETF
Schedule
of
Investments
(unaudited)
April
30,
2022
Janus
Detroit
Street
Trust
5
See
Notes
to
Schedule
of
Investments
and
Other
Information
and
Notes
to
Financial
Statements.
Shares/
Principal
Amounts
Value
Corporate
Bonds
-
(continued)
Consumer,
Cyclical
-
(continued)
Volkswagen
Financial
Services
Australia
Pty.
Ltd.,
1.4000%, 8/25/25
AUD
13,370,000
$
8,631,090
Volkswagen
Group
of
America
Finance
LLC,
2.9000%, 5/13/22
(144A)
$
2,400,000
2,401,057
Volkswagen
Group
of
America
Finance
LLC,
0.8750%, 11/22/23
(144A)
13,000,000
12,480,687
Walmart,
Inc.,
1.0500%, 9/17/26
12,800,000
11,649,592
191,487,373
Consumer,
Non-cyclical
-
9.6%
Avery
Dennison
Corp.,
0.8500%, 8/15/24
6,450,000
6,077,011
Cardinal
Health,
Inc.,
3.0790%, 6/15/24
21,000,000
20,808,300
Cargill,
Inc.,
3.5000%, 4/22/25
(144A)
4,675,000
4,669,643
Centene
Corp.,
4.2500%, 12/15/27
13,229,000
12,832,130
Conagra
Brands,
Inc.,
0.5000%, 8/11/23
4,500,000
4,351,692
ConnectEast
Finance
Pty.
Ltd.,
3.4000%, 3/25/26
AUD
1,600,000
1,101,584
CVS
Health
Corp.,
4.7500%, 12/1/22
$
5,300,000
5,349,756
CVS
Health
Corp.,
3.3750%, 8/12/24
7,485,000
7,465,007
CVS
Health
Corp.,
2.6250%, 8/15/24
3,915,000
3,848,335
GSK
Consumer
Healthcare
Capital
US
LLC,
SOFR
+
0.8900%,
1.1757%, 3/24/24
(144A)
6,675,000
6,682,172
GSK
Consumer
Healthcare
Capital
US
LLC,
3.0240%, 3/24/24
(144A)
6,675,000
6,607,824
Hershey
Co.
(The),
0.9000%, 6/1/25
7,906,000
7,382,014
Hershey
Co.
(The),
2.3000%, 8/15/26
4,094,000
3,911,587
Hormel
Foods
Corp.,
0.6500%, 6/3/24
5,500,000
5,243,460
Humana,
Inc.,
0.6500%, 8/3/23
9,750,000
9,462,965
Humana,
Inc.,
1.3500%, 2/3/27
4,550,000
4,018,432
Johnson
&
Johnson,
0.5500%, 9/1/25
23,690,000
21,806,650
Lonsdale
Finance
Pty.
Ltd.,
2.4500%, 11/20/26
AUD
4,210,000
2,730,596
Lonsdale
Finance
Pty.
Ltd.,
2.1000%, 10/15/27
650,000
402,728
Mars,
Inc.,
2.7000%, 4/1/25
(144A)
$
4,295,000
4,210,403
Mondelez
International
Holdings
Netherlands
BV,
0.7500%, 9/24/24
(144A)
5,775,000
5,427,125
Mondelez
International,
Inc.,
2.1250%, 3/17/24
3,275,000
3,215,696
Mondelez
International,
Inc.,
3.2500%, 3/7/25
CAD
4,100,000
3,160,181
Nestle
Holdings,
Inc.,
0.3750%, 1/15/24
(144A)
$
12,070,000
11,580,789
PerkinElmer,
Inc.,
0.5500%, 9/15/23
4,550,000
4,404,239
PerkinElmer,
Inc.,
0.8500%, 9/15/24
23,550,000
22,062,794
Roche
Holdings,
Inc.,
1.8820%, 3/8/24
(144A)
17,500,000
17,171,185
Thermo
Fisher
Scientific,
Inc.,
0.7970%, 10/18/23
13,950,000
13,526,024
Thermo
Fisher
Scientific,
Inc.,
1.2150%, 10/18/24
13,950,000
13,234,113
Unilever
Capital
Corp.,
0.6260%, 8/12/24
6,550,000
6,193,489
WSO
Finance
Pty.
Ltd.,
3.5000%, 7/14/23
AUD
3,290,000
2,355,200
WSO
Finance
Pty.
Ltd.,
4.5000%, 3/31/27
910,000
651,391
WSO
Finance
Pty.
Ltd.,
4.5000%, 9/30/27
5,000,000
3,588,198
245,532,713
Diversified
-
0.3%
CK
Hutchison
International
17
II
Ltd.,
2.7500%, 3/29/23
(144A)
$
1,200,000
1,196,676
CK
Hutchison
International
19
Ltd.,
3.2500%, 4/11/24
(144A)
5,700,000
5,690,770
6,887,446
Energy
-
1.1%
Enbridge,
Inc.,
SOFRINDX
+
0.6300%,
0.8181%, 2/16/24
6,550,000
6,558,064
Enbridge,
Inc.,
2.1500%, 2/16/24
6,550,000
6,401,053
Harvest
Operations
Corp.,
4.2000%, 6/1/23
200,000
202,224
Harvest
Operations
Corp.,
4.2000%, 6/1/23
(144A)
2,900,000
2,932,248
Harvest
Operations
Corp.,
1.0000%, 4/26/24
(144A)
6,150,000
5,866,546
SA
Global
Sukuk
Ltd.,
0.9460%, 6/17/24
(144A)
6,550,000
6,197,938
28,158,073
Janus
Henderson
Short
Duration
Income
ETF
Schedule
of
Investments
(unaudited)
April
30,
2022
6
April
30,
2022
See
Notes
to
Schedule
of
Investments
and
Other
Information
and
Notes
to
Financial
Statements.
Shares/
Principal
Amounts
Value
Corporate
Bonds
-
(continued)
Financial
-
43.2%
AAI
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
3.2000%,
3.4842%, 10/6/42
AUD
7,170,000
$
5,132,952
AerCap
Ireland
Capital
DAC,
1.6500%, 10/29/24
$
14,625,000
13,633,595
AerCap
Ireland
Capital
DAC,
1.7500%, 10/29/24
16,000,000
14,889,247
AerCap
Ireland
Capital
DAC,
3.6500%, 7/21/27
3,095,000
2,900,505
Air
Lease
Corp.,
0.8000%, 8/18/24
16,150,000
15,012,953
Air
Lease
Corp.,
1.8750%, 8/15/26
6,235,000
5,560,407
American
Express
Co.,
SOFRINDX
+
0.7200%,
1.4788%, 5/3/24
6,875,000
6,873,466
American
Express
Co.,
SOFR
+
0.9300%,
1.1544%, 3/4/25
12,900,000
12,986,466
ANZ
New
Zealand
Int'l
Ltd.,
3.4000%, 3/19/24
(144A)
1,000,000
1,000,936
ANZ
New
Zealand
Int'l
Ltd.,
1.2500%, 6/22/26
(144A)
13,900,000
12,525,460
Athene
Global
Funding,
2.5140%, 3/8/24
(144A)
2,500,000
2,437,416
Athene
Global
Funding,
0.9140%, 8/19/24
(144A)
13,850,000
12,990,014
Athene
Global
Funding,
1.7160%, 1/7/25
(144A)
15,460,000
14,469,632
Athene
Global
Funding,
1.6080%, 6/29/26
(144A)
23,135,000
20,565,503
Australia
&
New
Zealand
Banking
Group
Ltd.,
5-year
AUD
Swap
Offer
Rate
+
1.8500%,
4.7500%, 5/13/27
AUD
3,170,000
2,255,126
Australia
&
New
Zealand
Banking
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.0000%,
2.5274%, 7/26/29
1,290,000
928,002
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
22,583,805
Australia
&
New
Zealand
Banking
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.8500%,
1.9298%, 2/26/31
AUD
150,000
106,086
Aviation
Capital
Group
LLC,
1.9500%, 1/30/26
(144A)
$
12,640,000
11,291,596
Aviation
Capital
Group
LLC,
1.9500%, 9/20/26
(144A)
15,250,000
13,345,223
Banco
Santander
SA,
3.4960%, 3/24/25
27,400,000
26,954,809
Bank
of
America
Corp.,
SOFR
+
1.4600%,
1.4860%, 5/19/24
3,000,000
2,945,731
Bank
of
America
Corp.,
SOFR
+
0.6700%,
1.8430%, 2/4/25
2,150,000
2,080,976
Bank
of
America
Corp.,
ICE
LIBOR
USD
3
Month
+
0.9700%,
3.4580%, 3/15/25
2,950,000
2,922,456
Bank
of
America
Corp.,
SOFR
+
0.9100%,
0.9810%, 9/25/25
18,155,000
16,899,797
Bank
of
America
Corp.,
0.6000%, 1/26/26
Ç
2,000,000
1,744,470
Bank
of
America
Corp.,
SOFR
+
1.3300%,
3.3840%, 4/2/26
3,000,000
2,934,820
Bank
of
America
Corp.,
SOFR
+
0.9100%,
1.6580%, 3/11/27
18,570,000
16,815,623
Bank
of
America
Corp.,
SOFR
+
0.9600%,
1.7340%, 7/22/27
6,650,000
5,967,598
Bank
of
Queensland
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.8500%,
1.9208%, 5/1/28
AUD
19,500,000
13,911,546
Bank
of
Queensland
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.6000%,
2.3120%, 7/29/31
2,950,000
2,049,583
Bendigo
&
Adelaide
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.4500%,
2.5298%, 11/30/28
24,600,000
17,767,045
Charles
Schwab
Corp.
(The),
0.7500%, 3/18/24
$
14,200,000
13,596,890
Charter
Hall
Exchange
Finance
Pty.
Ltd.,
2.3170%, 9/25/30
AUD
3,800,000
2,192,550
Charter
Hall
LWR
Pty.
Ltd.,
2.0860%, 3/3/28
470,000
287,405
Citigroup,
Inc.,
SOFR
+
0.6690%,
0.9810%, 5/1/25
$
11,470,000
10,814,914
Citigroup,
Inc.,
SOFR
+
2.8420%,
3.1060%, 4/8/26
100,000
96,745
Citigroup,
Inc.,
SOFR
+
0.7650%,
1.1220%, 1/28/27
24,000,000
21,421,246
Citigroup,
Inc.,
SOFR
+
0.7700%,
1.4620%, 6/9/27
16,950,000
15,086,841
Commonwealth
Bank
of
Australia,
90
Day
Australian
Bank
Bill
Rate
+
1.1300%,
1.4400%, 1/11/24
AUD
200,000
143,336
Commonwealth
Bank
of
Australia,
3.3500%, 6/4/24
$
7,289,000
7,310,648
Commonwealth
Bank
of
Australia,
1.1250%, 6/15/26
(144A)
19,400,000
17,467,279
Commonwealth
Bank
of
Australia,
90
Day
Australian
Bank
Bill
Rate
+
1.8000%,
1.9450%, 9/10/30
AUD
2,500,000
1,770,460
Commonwealth
Bank
of
Australia,
90
Day
Australian
Bank
Bill
Rate
+
1.3200%,
1.3950%, 8/20/31
24,700,000
17,095,447
Janus
Henderson
Short
Duration
Income
ETF
Schedule
of
Investments
(unaudited)
April
30,
2022
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)
Financial
-
(continued)
Cooperatieve
Rabobank
UA,
0.3750%, 1/12/24
$
12,200,000
$
11,634,805
Cooperatieve
Rabobank
UA,
2.6250%, 7/22/24
(144A)
1,000,000
979,696
Cooperatieve
Rabobank
UA,
1.3750%, 1/10/25
3,590,000
3,400,252
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
4,978,386
Cooperatieve
Rabobank
UA,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.7300%,
1.9800%, 12/15/27
(144A)
3,500,000
3,173,941
Corebridge
Financial,
Inc.,
3.5000%, 4/4/25
(144A)
10,475,000
10,368,784
Credit
Suisse
AG,
SOFRINDX
+
1.2600%,
1.5457%, 2/21/25
13,300,000
13,300,015
DBS
Group
Holdings
Ltd.,
1.1690%, 11/22/24
(144A)
15,000,000
14,285,570
DBS
Group
Holdings
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.5800%,
1.7339%, 3/16/28
AUD
26,020,000
18,544,960
DBS
Group
Holdings
Ltd.,
USD
ICE
Swap
Rate
5
Year
+
1.5900%,
4.5200%, 12/11/28
(144A)
$
3,600,000
3,649,429
DBS
Group
Holdings
Ltd.,
USD
ICE
Swap
Rate
5
Year
+
1.5900%,
4.5200%, 12/11/28
3,270,000
3,314,898
DEXUS
Finance
Pty.
Ltd.,
4.2000%, 11/9/22
AUD
3,000,000
2,156,411
Dexus
Wholesale
Property
Fund,
4.7500%, 6/16/25
2,590,000
1,886,544
GAIF
Bond
Issuer
Pty.
Ltd.,
3.4000%, 9/30/26
(144A)
$
3,390,000
3,325,366
GAIF
Bond
Issuer
Pty.
Ltd.,
3.4000%, 9/30/26
4,289,000
4,207,226
General
Property
Trust,
3.5910%, 11/7/23
AUD
1,500,000
1,071,958
General
Property
Trust,
3.6725%, 9/19/24
2,200,000
1,566,771
Goldman
Sachs
Group,
Inc.
(The),
SOFR
+
0.5050%,
0.6570%, 9/10/24
$
18,775,000
18,017,044
Goldman
Sachs
Group,
Inc.
(The),
SOFR
+
0.7300%,
1.7570%, 1/24/25
5,200,000
5,020,977
Goldman
Sachs
Group,
Inc.
(The),
3.5000%, 4/1/25
6,680,000
6,579,102
Goldman
Sachs
Group,
Inc.
(The),
ICE
LIBOR
USD
3
Month
+
1.2010%,
3.2720%, 9/29/25
2,575,000
2,533,528
Goldman
Sachs
Group,
Inc.
(The),
SOFR
+
0.8180%,
1.5420%, 9/10/27
18,775,000
16,589,052
GPT
Wholesale
Shopping
Centre
Fund
No.
1,
3.9930%, 9/11/24
AUD
5,780,000
4,076,107
HSBC
Holdings
plc,
SOFR
+
0.5340%,
0.7320%, 8/17/24
$
6,390,000
6,149,963
HSBC
Holdings
plc,
SOFR
+
0.5800%,
1.1620%, 11/22/24
11,300,000
10,837,673
HSBC
Holdings
plc,
SOFR
+
0.7075%,
0.9760%, 5/24/25
10,000,000
9,375,339
Insurance
Australia
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.4500%,
2.6045%, 12/15/36
AUD
7,540,000
5,391,478
Insurance
Australia
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.1000%,
2.2545%, 6/15/44
17,350,000
12,369,705
Insurance
Australia
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.3500%,
2.5045%, 6/15/45
6,730,000
4,807,048
JPMorgan
Chase
&
Co.,
SOFR
+
0.5400%,
0.8240%, 6/1/25
$
7,560,000
7,112,891
JPMorgan
Chase
&
Co.,
CME
Term
SOFR
3
Month
+
0.5800%,
0.9690%, 6/23/25
12,300,000
11,572,329
JPMorgan
Chase
&
Co.,
SOFR
+
1.1600%,
2.3010%, 10/15/25
390,000
373,972
JPMorgan
Chase
&
Co.,
SOFR
+
0.9150%,
2.5950%, 2/24/26
3,200,000
3,078,384
JPMorgan
Chase
&
Co.,
SOFR
+
0.8000%,
1.0450%, 11/19/26
21,170,000
19,027,305
JPMorgan
Chase
&
Co.,
CME
Term
SOFR
3
Month
+
0.6950%,
1.0400%, 2/4/27
10,000,000
8,904,517
Liberty
Financial
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.6000%,
2.7350%, 3/6/23
AUD
2,600,000
1,851,068
Liberty
Financial
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.3500%,
2.4298%, 2/26/24
9,440,000
6,670,767
Liberty
Financial
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.4500%,
2.6097%, 3/17/25
2,780,000
1,960,274
Liberty
Financial
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.5500%,
2.6283%, 5/25/26
10,800,000
7,558,859
Janus
Henderson
Short
Duration
Income
ETF
Schedule
of
Investments
(unaudited)
April
30,
2022
8
April
30,
2022
See
Notes
to
Schedule
of
Investments
and
Other
Information
and
Notes
to
Financial
Statements.
Shares/
Principal
Amounts
Value
Corporate
Bonds
-
(continued)
Financial
-
(continued)
Lloyds
Banking
Group
plc,
90
Day
Australian
Bank
Bill
Rate
+
1.3000%,
1.4802%, 3/20/23
AUD
3,310,000
$
2,359,983
Lloyds
Banking
Group
plc,
3.6500%, 3/20/23
1,500,000
1,073,683
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
9,281,657
Lloyds
Banking
Group
plc,
ICE
LIBOR
USD
3
Month
+
0.8100%,
2.9070%, 11/7/23
3,400,000
3,394,184
Lloyds
Banking
Group
plc,
3.9000%, 11/23/23
AUD
3,850,000
2,752,994
Lloyds
Banking
Group
plc,
3.9000%, 3/12/24
$
4,880,000
4,887,269
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
5,531,715
Macquarie
Bank
Ltd.,
2.3000%, 1/22/25
(144A)
12,840,000
12,404,976
Macquarie
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.9000%,
2.9798%, 5/28/30
AUD
19,800,000
14,453,316
Macquarie
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.5500%,
1.7097%, 6/17/31
11,100,000
7,700,378
Macquarie
Group
Ltd.,
SOFR
+
0.6940%,
1.2010%, 10/14/25
(144A)
$
9,700,000
9,058,871
Macquarie
Group
Ltd.,
SOFR
+
0.9100%,
1.6290%, 9/23/27
(144A)
2,100,000
1,848,875
Morgan
Stanley,
SOFR
+
0.5250%,
0.7900%, 5/30/25
17,600,000
16,460,448
Morgan
Stanley,
SOFR
+
0.5600%,
1.1640%, 10/21/25
11,000,000
10,266,711
Morgan
Stanley,
SOFR
+
0.8790%,
1.5930%, 5/4/27
2,040,000
1,834,390
Morgan
Stanley,
SOFR
+
0.8580%,
1.5120%, 7/20/27
27,715,000
24,672,078
National
Australia
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.1500%,
2.2300%, 5/17/29
AUD
12,620,000
9,101,225
National
Australia
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.7000%,
1.7800%, 11/18/30
23,000,000
16,208,802
National
Australia
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.0200%,
2.1000%, 11/18/31
9,240,000
6,550,636
Nordea
Bank
Abp
,
1.0000%, 6/9/23
(144A)
$
6,700,000
6,542,323
Nordea
Bank
Abp
,
0.7500%, 8/28/25
(144A)
9,000,000
8,190,828
Oversea-Chinese
Banking
Corp.
Ltd.,
4.2500%, 6/19/24
(144A)
616,000
624,026
Oversea-Chinese
Banking
Corp.
Ltd.,
4.2500%, 6/19/24
2,930,000
2,968,178
QIC
Finance
Shopping
Center
Fund
Pty.
Ltd.,
3.7500%, 12/6/23
AUD
1,000,000
715,709
QIC
Finance
Shopping
Center
Fund
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.2700%,
1.3500%, 8/15/25
3,290,000
2,347,568
Royal
Bank
of
Canada,
2.3520%, 7/2/24
CAD
20,200,000
15,345,393
Royal
Bank
of
Canada,
2.5500%, 7/16/24
$
190,000
186,790
Royal
Bank
of
Canada,
1.1500%, 6/10/25
220,000
203,279
Royal
Bank
of
Canada,
1.2000%, 4/27/26
13,630,000
12,298,295
Shopping
Centres
Australasia
Property
Retail
Trust,
3.9000%, 6/7/24
AUD
4,600,000
3,294,054
Suncorp
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.1500%,
2.2850%, 12/5/28
15,890,000
11,433,597
Suncorp
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.2500%,
2.3350%, 12/1/35
5,000,000
3,562,413
Suncorp-
Metway
Ltd.,
3.3000%, 4/15/24
(144A)
$
9,990,000
9,971,964
SVB
Financial
Group,
2.1000%, 5/15/28
13,370,000
11,745,026
Swedbank
AB,
SOFRINDX
+
0.9100%,
1.1982%, 4/4/25
(144A)
12,000,000
12,003,459
Toronto-Dominion
Bank
(The),
0.5500%, 3/4/24
2,780,000
2,650,004
Toronto-Dominion
Bank
(The),
2.8500%, 3/8/24
CAD
16,840,000
12,981,841
Toronto-Dominion
Bank
(The),
0.7000%, 9/10/24
$
4,150,000
3,907,647
Toronto-Dominion
Bank
(The),
1.1500%, 6/12/25
7,200,000
6,674,246
UBS
AG,
0.3750%, 6/1/23
(144A)
9,950,000
9,691,597
UBS
AG,
0.7000%, 8/9/24
(144A)
4,550,000
4,288,998
Janus
Henderson
Short
Duration
Income
ETF
Schedule
of
Investments
(unaudited)
April
30,
2022
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)
United
Overseas
Bank
Ltd.,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.5000%,
3.7500%, 4/15/29
(144A)
$
4,230,000
$
4,216,899
Vicinity
Centres
Trust,
3.5000%, 4/26/24
AUD
5,700,000
4,032,277
Vicinity
Centres
Trust,
90
Day
Australian
Bank
Bill
Rate
+
1.4200%,
1.6350%, 6/27/25
500,000
359,715
Vicinity
Centres
Trust,
4.0000%, 4/26/27
150,000
104,971
Wells
Fargo
&
Co.,
SOFR
+
1.6000%,
1.6540%, 6/2/24
$
20,480,000
20,131,285
Wells
Fargo
&
Co.,
SOFR
+
0.5100%,
0.8050%, 5/19/25
6,570,000
6,177,174
Wells
Fargo
&
Co.,
ICE
LIBOR
USD
3
Month
+
0.7500%,
2.1640%, 2/11/26
9,590,000
9,096,975
Wells
Fargo
&
Co.,
SOFR
+
1.3200%,
1.5900%, 4/25/26
3,500,000
3,502,590
Wells
Fargo
&
Co.,
3.7000%, 7/27/26
AUD
18,000,000
12,332,560
Westpac
Banking
Corp.,
90
Day
Australian
Bank
Bill
Rate
+
0.9500%,
1.0284%, 11/16/23
14,300,000
10,225,129
Westpac
Banking
Corp.,
1.0190%, 11/18/24
$
6,000,000
5,683,986
Westpac
Banking
Corp.,
2.3500%, 2/19/25
1,800,000
1,749,992
Westpac
Banking
Corp.,
90
Day
Australian
Bank
Bill
Rate
+
1.4000%,
1.4784%, 2/16/28
AUD
6,100,000
4,341,378
Westpac
Banking
Corp.,
5-year
AUD
Swap
Offer
Rate
+
2.6500%,
4.8000%, 6/14/28
300,000
215,346
Westpac
Banking
Corp.,
90
Day
Australian
Bank
Bill
Rate
+
1.8000%,
1.9816%, 6/22/28
15,800,000
11,296,979
Westpac
Banking
Corp.,
5-year
AUD
Swap
Offer
Rate
+
1.8300%,
4.3340%, 8/16/29
13,722,000
9,744,031
Westpac
Banking
Corp.,
90
Day
Australian
Bank
Bill
Rate
+
1.9800%,
2.0598%, 8/27/29
6,700,000
4,815,920
Westpac
Banking
Corp.,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
1.3500%,
2.8940%, 2/4/30
$
5,910,000
5,637,224
1,098,602,856
Industrial
-
3.9%
Canadian
Pacific
Railway
Co.,
1.3500%, 12/2/24
9,875,000
9,353,590
Caterpillar
Financial
Services
Corp.,
0.4500%, 5/17/24
8,420,000
7,995,618
Caterpillar
Financial
Services
Corp.,
0.6000%, 9/13/24
1,950,000
1,842,766
Caterpillar
Financial
Services
Corp.,
2.1500%, 11/8/24
2,200,000
2,151,086
Caterpillar
Financial
Services
Corp.,
1.4500%, 5/15/25
4,600,000
4,356,874
Caterpillar
Financial
Services
Corp.,
0.8000%, 11/13/25
13,590,000
12,418,876
CNH
Industrial
Capital
Australia
Pty.
Ltd.,
2.1000%, 12/12/22
AUD
230,000
163,361
DAE
Funding
LLC,
1.5500%, 8/1/24
(144A)
$
3,450,000
3,217,273
John
Deere
Capital
Corp.,
0.4500%, 1/17/24
3,590,000
3,448,225
John
Deere
Capital
Corp.,
0.4500%, 6/7/24
11,650,000
11,071,192
John
Deere
Capital
Corp.,
0.6250%, 9/10/24
6,300,000
5,954,878
John
Deere
Capital
Corp.,
0.7000%, 1/15/26
6,080,000
5,526,291
Martin
Marietta
Materials,
Inc.,
0.6500%, 7/15/23
6,525,000
6,359,383
New
Terminal
Financing
Co.
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.4500%,
1.7627%, 7/12/24
AUD
8,980,000
6,340,205
Stanley
Black
&
Decker,
Inc.,
2.3000%, 2/24/25
$
16,325,000
15,846,982
Sydney
Airport
Finance
Co.
Pty.
Ltd.,
3.9000%, 3/22/23
1,230,000
1,238,097
Sydney
Airport
Finance
Co.
Pty.
Ltd.,
3.9000%, 3/22/23
(144A)
1,000,000
1,006,583
98,291,280
Technology
-
3.6%
Apple,
Inc.,
2.4000%, 1/13/23
5,100,000
5,115,013
Apple,
Inc.,
0.7500%, 5/11/23
3,600,000
3,547,518
Apple,
Inc.,
1.8000%, 9/11/24
8,200,000
8,012,053
Apple,
Inc.,
0.5500%, 8/20/25
3,690,000
3,399,634
Apple,
Inc.,
0.7000%, 2/8/26
9,240,000
8,438,904
Janus
Henderson
Short
Duration
Income
ETF
Schedule
of
Investments
(unaudited)
April
30,
2022
10
April
30,
2022
See
Notes
to
Schedule
of
Investments
and
Other
Information
and
Notes
to
Financial
Statements.
Shares/
Principal
Amounts
Value
Corporate
Bonds
-
(continued)
Technology
-
(continued)
Fiserv,
Inc.,
3.8000%, 10/1/23
$
21,820,000
$
22,022,841
Intuit,
Inc.,
0.6500%, 7/15/23
14,410,000
14,065,459
NVIDIA
Corp.,
0.5840%, 6/14/24
16,300,000
15,512,159
VMware,
Inc.,
1.0000%, 8/15/24
6,550,000
6,160,088