ANNUAL
REPORT
October
31,
2022
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
...................
19
Statement
of
Operations
..........................
20
Statements
of
Changes
in
Net
Assets
.................
21
Financial
Highlights
..............................
22
Notes
to
Financial
Statements
......................
23
Additional
Information
............................
38
Trustees
and
Officers
............................
39
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
significant
ground
in
the
12-month
period
ended
October
31,
2022,
as
multi-decade
high
inflation
forced
central
banks
to
aggressively
tighten
monetary
policy.
Initially,
longer-dated
maturites
led
markets
down
as
investors
wondered
whether
policy
makers
had
acted
too
late.
Later,
acute
pressure
was
felt
along
the
front
end
of
the
yield
curve
as
the
rapid
increase
in
policy
rates
resulted
in
a
historic
sell-off
in
the
shorter-dated
securities
that
are
most
responsive
to
shifts
in
this
monetary
lever.
During
the
period,
Janus
Henderson
Short
Duration
Income
ETF
(the”Fund”)
returned
-1.18%
(based
on
NAV),
while
its
benchmark,
the
FTSE
3-Month
U.S.
Treasury
Bill
Index,
returned
0.88%.
Losses
were
concentrated
in
the
Fund’s
interest
rate
positioning.
During
the
most
acute
period
of
the
bond
market
sell-off,
there
was
simply
no
place
to
hide.
Any
portfolio
that
had
a
modicum
of
interest
rate
exposure
was
negatively
impacted.
While
portfolio
duration
was
aggressively
lowered
with
the
aim
of
minimizing
losses,
the
Fund
was
unable
to
fully
avoid
the
tumult
roiling
fixed
income
markets.
Once
we
believed
that
the
near-
to
mid-term
path
of
policy
tightening
was
priced
in,
we
remained
vigilant
with
respect
to
duration,
keeping
it
at
a
level
we
believed
was
aligned
with
risks
still
present
within
the
market,
but
also
positioning
the
Fund
to
capture
the
potential
for
a
higher
level
of
income
generation
and
diversification
than
had
been
available
during
the
pandemic
era.
Certain
hedges
we
deployed
to
manage
our
interest
rate
exposure
during
the
period
–
along
with
our
more
recent
extension
of
duration
–
aided
performance,
though
not
enough
to
entirely
offset
losses
elsewhere
in
the
portfolio.
Janus
Henderson
Short
Duration
Income
ETF
is
an
actively
managed,
fixed
income
ETF
with
the
potential
to
deliver
returns
above
cash.
The
Fund
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,
2022
2
October
31,
2022
Holdings
are
subject
to
change
without
notice.
Sector
Allocation
–
(%
of
Net
Assets)
Financial
43.2%
Utilities
13.0%
Consumer,
Non-cyclical
11.5%
Consumer,
Cyclical
10.1%
Energy
8.7%
Industrial
7.5%
Government
6.5%
Technology
2.8%
Communications
2.0%
Exchange
Traded
Fund
1.1%
Mortgage-Backed
Securities
0.9%
Basic
Materials
0.9%
Investment
Companies
0.2%
Purchased
Options
0.0%
Asset-Backed
Securities
0.0%
108.4%
Janus
Henderson
Short
Duration
Income
ETF
(unaudited)
Performance
Janus
Detroit
Street
Trust
3
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.
Average
Annual
Total
Return
for
the
periods
ended
October
31,
2022
Prospectus
~
Expense
Ratio
One
Year
Five
Years
Since
Inception
*
Total
Annual
Fund
Operating
Expenses
‡
Janus
Henderson
Short
Duration
Income
ETF
-
NAV
-1.18%
1.54%
1.60%
0.23%
Janus
Henderson
Short
Duration
Income
ETF
-
Market
Price
-1.32%
1.50%
1.59%
–
FTSE
3-Month
U.S.
Treasury
Bill
Index
0.88%
1.16%
1.09%
–
*
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
4
October
31,
2022
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
(5/1/22)
Ending
Account
Value
(10/31/22)
Expenses
Paid
During
Period
(5/1/22
-
10/31/22)
†
Beginning
Account
Value
(5/1/22)
Ending
Account
Value
(10/31/22)
Expenses
Paid
During
Period
(5/1/22
-
10/31/22)
†
Net
Annualized
Expense
Ratio
(5/1/22
-
10/31/22)
$1,000.00
$999.70
$1.16
$1,000.00
$1,024.05
$1.17
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
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,
2022,
the
related
statement
of
operations
for
the
year
ended
October
31,
2022,
the
statements
of
changes
in
net
assets
for
each
of
the
two
years
in
the
period
ended
October
31,
2022,
including
the
related
notes,
and
the
financial
highlights
for
each
of
the
five
years
in
the
period
ended
October
31,
2022
(collectively
referred
to
as
the
“financial
statements”).
In
our
opinion,
the
financial
statements
present
fairly,
in
all
material
respects,
the
financial
position
of
the
Fund
as
of
October
31,
2022,
the
results
of
its
operations
for
the
year
then
ended,
the
changes
in
its
net
assets
for
each
of
the
two
years
in
the
period
ended
October
31,
2022
and
the
financial
highlights
for
each
of
the
five
years
in
the
period
ended
October
31,
2022
in
conformity
with
accounting
principles
generally
accepted
in
the
United
States
of
America.
Basis
for
Opinion
These
financial
statements
are
the
responsibility
of
the
Fund’s
management.
Our
responsibility
is
to
express
an
opinion
on
the
Fund’s
financial
statements
based
on
our
audits.
We
are
a
public
accounting
firm
registered
with
the
Public
Company
Accounting
Oversight
Board
(United
States)
(PCAOB)
and
are
required
to
be
independent
with
respect
to
the
Fund
in
accordance
with
the
U.S.
federal
securities
laws
and
the
applicable
rules
and
regulations
of
the
Securities
and
Exchange
Commission
and
the
PCAOB.
We
conducted
our
audits
of
these
financial
statements
in
accordance
with
the
standards
of
the
PCAOB.
Those
standards
require
that
we
plan
and
perform
the
audit
to
obtain
reasonable
assurance
about
whether
the
financial
statements
are
free
of
material
misstatement,
whether
due
to
error
or
fraud.
Our
audits
included
performing
procedures
to
assess
the
risks
of
material
misstatement
of
the
financial
statements,
whether
due
to
error
or
fraud,
and
performing
procedures
that
respond
to
those
risks.
Such
procedures
included
examining,
on
a
test
basis,
evidence
regarding
the
amounts
and
disclosures
in
the
financial
statements.
Our
audits
also
included
evaluating
the
accounting
principles
used
and
significant
estimates
made
by
management,
as
well
as
evaluating
the
overall
presentation
of
the
financial
statements.
Our
procedures
included
confirmation
of
securities
owned
as
of
October
31,
2022
by
correspondence
with
the
custodian
and
brokers;
when
replies
were
not
received
from
brokers,
we
performed
other
auditing
procedures.
We
believe
that
our
audits
provide
a
reasonable
basis
for
our
opinion.
Denver,
Colorado
December
16,
2022
We
have
served
as
the
auditor
of
one
or
more
investment
companies
in
Janus
Henderson
Funds
since
1990.
Janus
Henderson
Short
Duration
Income
ETF
Schedule
of
Investments
October
31,
2022
6
October
31,
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,
30
Day
Australian
Bank
Bill
Rate
+
1.5500%,
4.2650%,
10/16/27
‡
(cost
$106,373)
AUD
144,517
$
92,183
Corporate
Bonds
-
70.5%
Basic
Materials
-
0.9%
Georgia-Pacific
LLC,
0.6250%, 5/15/24
(144A)
$
24,000,000
22,359,720
Communications
-
2.0%
AT&T,
Inc.,
0.9000%, 3/25/24
26,430,000
24,955,668
Optus
Finance
Pty.
Ltd.,
3.2500%, 9/6/23
AUD
750,000
474,831
Optus
Finance
Pty.
Ltd.,
1.6000%, 7/1/25
1,000,000
586,973
Spark
Finance
Ltd.,
2.6000%, 3/18/30
1,200,000
624,375
Verizon
Communications,
Inc.,
3.5000%, 2/17/23
2,170,000
1,385,477
Verizon
Communications,
Inc.,
90
Day
Australian
Bank
Bill
Rate
+
1.2200%,
3.5092%, 2/17/23
‡
7,640,000
4,888,600
Verizon
Communications,
Inc.,
0.7500%, 3/22/24
$
4,700,000
4,437,907
Verizon
Communications,
Inc.,
0.8500%, 11/20/25
6,770,000
5,946,908
Verizon
Communications,
Inc.,
1.4500%, 3/20/26
5,100,000
4,490,636
Walt
Disney
Co.
(The),
1.7500%, 8/30/24
3,470,000
3,274,035
51,065,410
Consumer,
Cyclical
-
6.3%
7-Eleven,
Inc.,
0.6250%, 2/10/23
(144A)
3,350,000
3,308,974
American
Honda
Finance
Corp.,
0.8750%, 7/7/23
1,665,000
1,617,731
American
Honda
Finance
Corp.,
0.5500%, 7/12/24
8,190,000
7,592,435
BMW
US
Capital
LLC,
0.7500%, 8/12/24
(144A)
4,500,000
4,155,807
BMW
US
Capital
LLC,
SOFRINDX
+
0.8400%,
3.8871%, 4/1/25
(144A)
‡
7,025,000
6,988,809
BMW
US
Capital
LLC,
1.2500%, 8/12/26
(144A)
300,000
255,875
General
Motors
Financial
Co.,
Inc.,
1.0500%, 3/8/24
10,895,000
10,216,432
General
Motors
Financial
Co.,
Inc.,
1.2000%, 10/15/24
8,650,000
7,903,774
General
Motors
Financial
Co.,
Inc.,
6.0500%, 10/10/25
1,250,000
1,239,401
Hyundai
Capital
America,
1.2500%, 9/18/23
(144A)
4,270,000
4,101,740
Hyundai
Capital
America,
0.8000%, 1/8/24
(144A)
9,700,000
9,155,124
Hyundai
Capital
America,
0.8750%, 6/14/24
(144A)
6,910,000
6,347,369
Hyundai
Capital
America,
1.0000%, 9/17/24
(144A)
8,400,000
7,603,750
Lowe's
Cos.,
Inc.,
4.4000%, 9/8/25
4,920,000
4,822,758
McDonald's
Corp.,
3.0000%, 3/8/24
AUD
6,750,000
4,228,780
McDonald's
Corp.,
90
Day
Australian
Bank
Bill
Rate
+
1.1300%,
3.7303%, 3/8/24
‡
1,910,000
1,223,528
McDonald's
Corp.,
3.1250%, 3/4/25
CAD
17,080,000
12,026,559
Mercedes-Benz
Australia,
0.7500%, 1/22/24
AUD
810,000
495,299
Mercedes-Benz
Finance
North
America
LLC,
0.7500%, 3/1/24
(144A)
$
13,060,000
12,300,430
Toyota
Motor
Corp.,
0.6810%, 3/25/24
2,700,000
2,542,439
Toyota
Motor
Credit
Corp.,
0.4500%, 1/11/24
12,250,000
11,609,603
Toyota
Motor
Credit
Corp.,
0.5000%, 6/18/24
11,500,000
10,697,097
Toyota
Motor
Credit
Corp.,
1.8000%, 2/13/25
300,000
279,573
Volkswagen
Financial
Services
Australia
Pty.
Ltd.,
3.1000%, 4/17/23
AUD
6,300,000
4,006,704
Volkswagen
Financial
Services
Australia
Pty.
Ltd.,
1.4000%, 8/25/25
13,370,000
7,698,728
Volkswagen
Group
of
America
Finance
LLC,
0.8750%, 11/22/23
(144A)
$
13,000,000
12,375,084
Warnermedia
Holdings,
Inc.,
3.4280%, 3/15/24
(144A)
6,575,000
6,341,781
161,135,584
Consumer,
Non-cyclical
-
7.7%
Avery
Dennison
Corp.,
0.8500%, 8/15/24
6,650,000
6,148,555
Cardinal
Health,
Inc.,
3.0790%, 6/15/24
21,500,000
20,721,281
Cargill,
Inc.,
3.5000%, 4/22/25
(144A)
4,675,000
4,506,597
Cargill,
Inc.,
4.8750%, 10/10/25
(144A)
7,375,000
7,312,755
Centene
Corp.,
4.2500%, 12/15/27
13,679,000
12,618,877
Janus
Henderson
Short
Duration
Income
ETF
Schedule
of
Investments
October
31,
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)
Consumer,
Non-cyclical
-
(continued)
Conagra
Brands,
Inc.,
0.5000%, 8/11/23
$
4,500,000
$
4,329,191
CVS
Health
Corp.,
3.3750%, 8/12/24
7,885,000
7,659,900
CVS
Health
Corp.,
2.6250%, 8/15/24
3,915,000
3,747,171
Hershey
Co.
(The),
0.9000%, 6/1/25
8,256,000
7,454,306
Hershey
Co.
(The),
2.3000%, 8/15/26
4,094,000
3,722,857
Humana,
Inc.,
0.6500%, 8/3/23
10,205,000
9,857,944
Humana,
Inc.,
1.3500%, 2/3/27
4,550,000
3,812,293
Lonsdale
Finance
Pty.
Ltd.,
2.4500%, 11/20/26
AUD
5,310,000
3,015,052
Lonsdale
Finance
Pty.
Ltd.,
2.1000%, 10/15/27
3,800,000
2,049,604
Mondelez
International
Holdings
Netherlands
BV,
0.7500%, 9/24/24
(144A)
$
5,775,000
5,279,810
Mondelez
International
Holdings
Netherlands
BV,
4.2500%, 9/15/25
(144A)
7,400,000
7,193,250
Mondelez
International,
Inc.,
2.1250%, 3/17/24
3,275,000
3,139,410
Mondelez
International,
Inc.,
3.2500%, 3/7/25
CAD
4,650,000
3,268,687
Nestle
Holdings,
Inc.,
0.3750%, 1/15/24
(144A)
$
12,370,000
11,714,143
PerkinElmer,
Inc.,
0.5500%, 9/15/23
4,825,000
4,637,091
PerkinElmer,
Inc.,
0.8500%, 9/15/24
10,050,000
9,273,922
Roche
Holdings,
Inc.,
1.8820%, 3/8/24
(144A)
17,700,000
17,011,647
Thermo
Fisher
Scientific,
Inc.,
0.7970%, 10/18/23
14,900,000
14,297,781
Thermo
Fisher
Scientific,
Inc.,
1.2150%, 10/18/24
14,250,000
13,249,340
Unilever
Capital
Corp.,
0.6260%, 8/12/24
6,775,000
6,302,636
WSO
Finance
Pty.
Ltd.,
3.5000%, 7/14/23
AUD
3,290,000
2,093,167
194,417,267
Energy
-
1.1%
Enbridge,
Inc.,
2.1500%, 2/16/24
$
6,550,000
6,297,956
Enbridge,
Inc.,
SOFRINDX
+
0.6300%,
3.6869%, 2/16/24
‡
6,800,000
6,724,821
Harvest
Operations
Corp.,
4.2000%, 6/1/23
200,000
198,996
Harvest
Operations
Corp.,
4.2000%, 6/1/23
(144A)
2,900,000
2,885,442
Harvest
Operations
Corp.,
1.0000%, 4/26/24
(144A)
6,150,000
5,770,998
SA
Global
Sukuk
Ltd.,
0.9460%, 6/17/24
(144A)
6,550,000
6,090,714
27,968,927
Financial
-
42.7%
AerCap
Ireland
Capital
DAC,
1.1500%, 10/29/23
15,200,000
14,398,462
AerCap
Ireland
Capital
DAC,
1.6500%, 10/29/24
14,925,000
13,546,470
AerCap
Ireland
Capital
DAC,
1.7500%, 10/29/24
16,000,000
14,499,416
AerCap
Ireland
Capital
DAC,
3.6500%, 7/21/27
3,095,000
2,691,355
Air
Lease
Corp.,
0.8000%, 8/18/24
16,350,000
14,887,984
Air
Lease
Corp.,
1.8750%, 8/15/26
6,235,000
5,228,613
American
Express
Co.,
SOFRINDX
+
0.7200%,
3.7896%, 5/3/24
‡
6,875,000
6,846,379
American
Express
Co.,
SOFR
+
0.9300%,
3.9727%, 3/4/25
‡
12,900,000
12,861,761
ANZ
New
Zealand
Int'l
Ltd.,
3.4000%, 3/19/24
(144A)
1,000,000
974,560
ANZ
New
Zealand
Int'l
Ltd.,
1.2500%, 6/22/26
(144A)
13,900,000
11,960,953
Athene
Global
Funding,
2.5140%, 3/8/24
(144A)
2,500,000
2,382,485
Athene
Global
Funding,
0.9140%, 8/19/24
(144A)
16,350,000
14,868,168
Athene
Global
Funding,
1.7160%, 1/7/25
(144A)
15,460,000
14,168,789
Athene
Global
Funding,
1.6080%, 6/29/26
(144A)
23,235,000
19,736,326
Athene
Global
Funding,
4.7600%, 4/21/27
AUD
1,000,000
607,385
Australia
&
New
Zealand
Banking
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.0000%,
5.0289%, 7/26/29
‡
8,830,000
5,658,257
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)
‡
$
25,031,000
22,332,065
Australia
&
New
Zealand
Banking
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.8500%,
4.2573%, 2/26/31
‡
AUD
150,000
94,065
Janus
Henderson
Short
Duration
Income
ETF
Schedule
of
Investments
October
31,
2022
8
October
31,
2022
See
Notes
to
Schedule
of
Investments
and
Other
Information
and
Notes
to
Financial
Statements.
Shares/
Principal
Amounts
Value
Corporate
Bonds
-
(continued)
Financial
-
(continued)
Australian
Central
Credit
Union
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.4000%,
5.2023%, 9/16/31
‡
AUD
1,000,000
$
609,412
Aviation
Capital
Group
LLC,
1.9500%, 1/30/26
(144A)
$
12,940,000
10,808,411
Aviation
Capital
Group
LLC,
1.9500%, 9/20/26
(144A)
15,250,000
12,257,045
Banco
Santander
SA,
3.4960%, 3/24/25
28,400,000
26,960,387
Bank
of
America
Corp.,
SOFR
+
1.4600%,
1.4860%, 5/19/24
‡
3,000,000
2,931,585
Bank
of
America
Corp.,
SOFR
+
0.6700%,
1.8430%, 2/4/25
‡
2,150,000
2,037,089
Bank
of
America
Corp.,
ICE
LIBOR
USD
3
Month
+
0.9700%,
3.4580%, 3/15/25
‡
2,950,000
2,844,677
Bank
of
America
Corp.,
0.6000%, 1/26/26
Ç
2,000,000
1,675,919
Bank
of
America
Corp.,
SOFR
+
1.3300%,
3.3840%, 4/2/26
‡
3,000,000
2,818,317
Bank
of
America
Corp.,
SOFR
+
1.1500%,
1.3190%, 6/19/26
‡
37,300,000
32,932,170
Bank
of
America
Corp.,
SOFR
+
0.9600%,
1.7340%, 7/22/27
‡
7,050,000
6,028,716
Bank
of
Queensland
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.8500%,
4.0315%, 5/1/28
‡
AUD
19,500,000
12,462,638
Bank
of
Queensland
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.6000%,
4.6863%, 7/29/31
‡
3,500,000
2,146,352
Bendigo
&
Adelaide
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.4500%,
4.9175%, 11/30/28
‡
26,900,000
17,284,959
Bendigo
&
Adelaide
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.4800%,
4.4101%, 10/14/31
‡
800,000
486,843
Charles
Schwab
Corp.
(The),
0.7500%, 3/18/24
$
14,200,000
13,393,231
Charter
Hall
LWR
Pty.
Ltd.,
2.0860%, 3/3/28
AUD
3,270,000
1,681,249
Citigroup,
Inc.,
SOFR
+
0.6690%,
0.9810%, 5/1/25
‡
$
12,070,000
11,142,499
Citigroup,
Inc.,
SOFR
+
1.3720%,
4.4375%, 5/24/25
‡
5,000,000
4,994,023
Citigroup,
Inc.,
SOFR
+
2.8420%,
3.1060%, 4/8/26
‡
100,000
93,341
Citigroup,
Inc.,
SOFRINDX
+
1.5460%,
5.6100%, 9/29/26
‡
35,000,000
34,536,278
Commonwealth
Bank
of
Australia,
90
Day
Australian
Bank
Bill
Rate
+
1.1300%,
4.0354%, 1/11/24
‡
AUD
200,000
128,671
Commonwealth
Bank
of
Australia,
3.3500%, 6/4/24
$
7,409,000
7,210,345
Commonwealth
Bank
of
Australia,
90
Day
Australian
Bank
Bill
Rate
+
1.8000%,
4.4729%, 9/10/30
‡
AUD
12,500,000
7,882,288
Commonwealth
Bank
of
Australia,
90
Day
Australian
Bank
Bill
Rate
+
1.3200%,
3.6701%, 8/20/31
‡
16,600,000
10,180,346
Computershare
US,
Inc.,
3.1470%, 11/30/27
1,070,000
610,463
Cooperatieve
Rabobank
UA,
0.3750%, 1/12/24
$
12,600,000
11,900,691
Cooperatieve
Rabobank
UA,
2.6250%, 7/22/24
(144A)
1,000,000
952,474
Cooperatieve
Rabobank
UA,
1.3750%, 1/10/25
3,880,000
3,563,413
Cooperatieve
Rabobank
UA,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.0000%,
1.3390%, 6/24/26
(144A)
‡
5,650,000
4,962,713
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
2,939,837
Corebridge
Financial,
Inc.,
3.5000%, 4/4/25
(144A)
10,475,000
9,871,917
DBS
Group
Holdings
Ltd.,
1.1690%, 11/22/24
(144A)
15,000,000
13,896,514
DBS
Group
Holdings
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.5800%,
4.3823%, 3/16/28
‡
AUD
27,220,000
17,398,156
DBS
Group
Holdings
Ltd.,
USD
ICE
Swap
Rate
5
Year
+
1.5900%,
4.5200%, 12/11/28
‡
$
3,470,000
3,418,367
DBS
Group
Holdings
Ltd.,
USD
ICE
Swap
Rate
5
Year
+
1.5900%,
4.5200%, 12/11/28
(144A)
‡
3,600,000
3,546,433
General
Property
Trust,
3.5910%, 11/7/23
AUD
1,500,000
951,033
General
Property
Trust,
3.6725%, 9/19/24
2,200,000
1,379,458
Goldman
Sachs
Group,
Inc.
(The),
SOFR
+
0.5380%,
0.6270%, 11/17/23
‡
$
25,000,000
24,935,799
Goldman
Sachs
Group,
Inc.
(The),
SOFR
+
0.5050%,
0.6570%, 9/10/24
‡
19,575,000
18,634,256
Goldman
Sachs
Group,
Inc.
(The),
5.7000%, 11/1/24
15,000,000
15,001,005
Janus
Henderson
Short
Duration
Income
ETF
Schedule
of
Investments
October
31,
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)
Goldman
Sachs
Group,
Inc.
(The),
SOFR
+
0.7300%,
1.7570%, 1/24/25
‡
$
5,200,000
$
4,914,156
Goldman
Sachs
Group,
Inc.
(The),
3.5000%, 4/1/25
6,680,000
6,329,111
Goldman
Sachs
Group,
Inc.
(The),
ICE
LIBOR
USD
3
Month
+
1.2010%,
3.2720%, 9/29/25
‡
2,575,000
2,442,392
GPT
Wholesale
Shopping
Centre
Fund
No.
1,
3.9930%, 9/11/24
AUD
5,780,000
3,629,027
HSBC
Holdings
plc,
SOFR
+
0.5340%,
0.7320%, 8/17/24
‡
$
7,035,000
6,670,728
HSBC
Holdings
plc,
SOFR
+
0.5800%,
1.1620%, 11/22/24
‡
11,300,000
10,604,563
HSBC
Holdings
plc,
SOFR
+
0.7075%,
0.9760%, 5/24/25
‡
10,000,000
9,081,387
HSBC
USA,
Inc.,
3.7500%, 5/24/24
300,000
291,096
Insurance
Australia
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.4500%,
5.2034%, 12/15/36
‡
AUD
8,550,000
5,357,527
Insurance
Australia
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.1000%,
4.8534%, 6/15/44
‡
17,350,000
11,017,473
Insurance
Australia
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.3500%,
5.1034%, 6/15/45
‡
6,730,000
4,250,241
Intercontinental
Exchange,
Inc.,
3.6500%, 5/23/25
$
17,425,000
16,873,502
JPMorgan
Chase
&
Co.,
SOFR
+
1.1600%,
2.3010%, 10/15/25
‡
690,000
643,576
JPMorgan
Chase
&
Co.,
SOFR
+
0.9150%,
2.5950%, 2/24/26
‡
23,200,000
21,493,371
JPMorgan
Chase
&
Co.,
SOFR
+
1.5600%,
4.3230%, 4/26/28
‡
31,000,000
28,835,964
Liberty
Financial
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.6000%,
5.1515%, 3/6/23
‡
AUD
2,600,000
1,662,223
Liberty
Financial
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.3500%,
4.7573%, 2/26/24
‡
9,440,000
5,956,944
Liberty
Financial
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.4500%,
5.2910%, 3/17/25
‡
3,280,000
2,048,002
Liberty
Financial
Pty.
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.5500%,
4.9500%, 5/25/26
‡
11,620,000
7,147,087
Lloyds
Banking
Group
plc,
3.6500%, 3/20/23
1,500,000
955,369
Lloyds
Banking
Group
plc,
90
Day
Australian
Bank
Bill
Rate
+
1.3000%,
4.1732%, 3/20/23
‡
3,710,000
2,371,581
Lloyds
Banking
Group
plc,
ICE
LIBOR
USD
3
Month
+
0.8100%,
2.9070%, 11/7/23
‡
$
5,587,000
5,584,432
Lloyds
Banking
Group
plc,
3.9000%, 11/23/23
AUD
3,850,000
2,423,330
Lloyds
Banking
Group
plc,
3.9000%, 3/12/24
$
4,880,000
4,752,527
Lloyds
Banking
Group
plc,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.5500%,
0.6950%, 5/11/24
‡
6,200,000
6,012,230
Macquarie
Bank
Ltd.,
2.3000%, 1/22/25
(144A)
12,840,000
11,993,887
Macquarie
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.9000%,
5.3331%, 5/28/30
‡
AUD
19,800,000
12,755,864
Macquarie
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.5500%,
4.3910%, 6/17/31
‡
11,700,000
7,229,375
Macquarie
Group
Ltd.,
SOFR
+
0.6940%,
1.2010%, 10/14/25
(144A)
‡
$
9,700,000
8,785,008
Macquarie
Group
Ltd.,
SOFR
+
0.9100%,
1.6290%, 9/23/27
(144A)
‡
2,100,000
1,734,744
Morgan
Stanley,
SOFR
+
0.4660%,
0.5600%, 11/10/23
‡
3,490,000
3,485,495
Morgan
Stanley,
SOFR
+
0.5090%,
0.7910%, 1/22/25
‡
17,600,000
16,428,618
Morgan
Stanley,
SOFR
+
0.5600%,
1.1640%, 10/21/25
‡
11,700,000
10,602,982
Morgan
Stanley,
SOFR
+
1.7700%,
6.1380%, 10/16/26
‡
25,250,000
25,325,948
National
Australia
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.1500%,
4.4392%, 5/17/29
‡
AUD
14,920,000
9,591,214
National
Australia
Bank
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
1.7000%,
4.0167%, 11/18/30
‡
24,275,000
15,235,432
Nordea
Bank
Abp,
1.0000%, 6/9/23
(144A)
$
6,700,000
6,524,574
Nordea
Bank
Abp,
SOFR
+
0.9600%,
4.0027%, 6/6/25
(144A)
‡
6,925,000
6,870,052
Nordea
Bank
Abp,
0.7500%, 8/28/25
(144A)
9,550,000
8,378,215
Janus
Henderson
Short
Duration
Income
ETF
Schedule
of
Investments
October
31,
2022
10
October
31,
2022
See
Notes
to
Schedule
of
Investments
and
Other
Information
and
Notes
to
Financial
Statements.
Shares/
Principal
Amounts
Value
Corporate
Bonds
-
(continued)
Financial
-
(continued)
Oversea-Chinese
Banking
Corp.
Ltd.,
4.2500%, 6/19/24
(144A)
$
616,000
$
604,738
Oversea-Chinese
Banking
Corp.
Ltd.,
4.2500%, 6/19/24
2,930,000
2,876,435
QIC
Finance
Shopping
Center
Fund
Pty.
Ltd.,
3.7500%, 12/6/23
AUD
1,000,000
633,740
Royal
Bank
of
Canada,
2.5500%, 7/16/24
$
190,000
181,223
Royal
Bank
of
Canada,
5.6600%, 10/25/24
25,900,000
25,947,819
Royal
Bank
of
Canada,
1.1500%, 6/10/25
220,000
197,581
Shopping
Centres
Australasia
Property
Retail
Trust,
3.9000%, 6/7/24
AUD
4,600,000
2,897,512
Suncorp
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.1500%,
4.6911%, 12/5/28
‡
18,590,000
11,910,010
Suncorp
Group
Ltd.,
90
Day
Australian
Bank
Bill
Rate
+
2.2500%,
4.7250%, 12/1/35
‡
5,000,000
3,135,391
Suncorp-Metway
Ltd.,
3.3000%, 4/15/24
(144A)
$
9,990,000
9,688,515
SVB
Financial
Group,
2.1000%, 5/15/28
11,920,000
9,471,284
Swedbank
AB,
SOFRINDX
+
0.9100%,
3.9570%, 4/4/25
(144A)
‡
12,250,000
12,110,962
Toronto-Dominion
Bank
(The),
0.7000%, 9/10/24
4,750,000
4,357,836
Toronto-Dominion
Bank
(The),
4.2850%, 9/13/24
2,800,000
2,743,445
Toronto-Dominion
Bank
(The),
1.1500%, 6/12/25
7,200,000
6,449,431
UBS
AG,
0.3750%, 6/1/23
(144A)
9,950,000
9,670,908
UBS
AG,
0.7000%, 8/9/24
(144A)
4,750,000
4,363,989
UBS
Group
AG,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.6000%,
4.4900%, 8/5/25
(144A)
‡
12,500,000
12,075,312
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
4,098,743
VER
Finco
Pty.
Ltd.,
2.4000%, 9/21/28
AUD
2,230,000
1,144,126
Vicinity
Centres
Trust,
3.5000%, 4/26/24
5,700,000
3,584,120
Vicinity
Centres
Trust,
90
Day
Australian
Bank
Bill
Rate
+
1.4200%,
4.4433%, 6/27/25
‡
610,000
392,398
Vicinity
Centres
Trust,
4.0000%, 4/26/27
150,000
90,339
Wells
Fargo
&
Co.,
1.6540%, 6/2/24
$
20,740,000
20,260,725
Wells
Fargo
&
Co.,
SOFR
+
0.5100%,
0.8050%, 5/19/25
‡
6,880,000
6,367,156
Wells
Fargo
&
Co.,
ICE
LIBOR
USD
3
Month
+
0.7500%,
2.1640%, 2/11/26
‡
9,590,000
8,808,147
Wells
Fargo
&
Co.,
SOFR
+
1.3200%,
4.3615%, 4/25/26
‡
3,500,000
3,465,945
Wells
Fargo
&
Co.,
2.1880%, 4/30/26
13,000,000
11,829,384
Westpac
Banking
Corp.,
90
Day
Australian
Bank
Bill
Rate
+