Janus Henderson Mortgage-Backed Securities ETF (JMBS)

Overview

The Janus Henderson Mortgage-Backed Securities ETF (JMBS) seeks to provide current income by investing primarily in mortgage-backed securities (MBS). The ETF focuses on a diversified portfolio of agency and non-agency MBS, aiming to deliver a competitive yield and total return for investors seeking exposure to the mortgage market.

Reputation and Reliability

Janus Henderson is a well-established global asset manager with a long history of providing investment solutions. They are known for their research capabilities and disciplined investment approach.

Management Expertise

The management team for JMBS comprises experienced fixed-income professionals with expertise in mortgage-backed securities and portfolio management.

Goal

To provide current income by investing in mortgage-backed securities.

Investment Approach and Strategy

Strategy: The ETF invests primarily in mortgage-backed securities, including agency and non-agency MBS. The fund's managers actively manage the portfolio to seek attractive yields and total returns.

Composition The ETF's holdings are primarily comprised of mortgage-backed securities, with a focus on those issued or guaranteed by US government agencies, as well as some exposure to non-agency MBS.

Market Share: Data on JMBS' specific market share is not readily available; it varies based on the classification used for the mortgage-backed securities ETF sector.

Total Net Assets (AUM): 2025000000

Key Competitors

• iShares MBS ETF (MBB)
• Vanguard Mortgage-Backed Securities ETF (VMBS)
• SPDR Portfolio Mortgage Backed Securities ETF (SPMB)

Competitive Landscape

The mortgage-backed securities ETF market is competitive, with several established players offering similar investment strategies. JMBS differentiates itself through its active management approach, aiming to outperform its benchmark. Competitors like MBB and VMBS are passively managed, offering lower expense ratios but potentially less flexibility in navigating market conditions. JMBS's active management may provide an advantage in selecting MBS and managing risk, but it also comes with higher fees.

Historical Performance: Historical performance data should be sourced from official fund documents and financial data providers to get accurate numerical values for different time periods. Performance is highly sensitive to changes in interest rates and credit spreads.

Benchmark Comparison: The ETF's performance is typically compared to the Bloomberg Barclays US Mortgage Backed Securities Index. This comparison indicates how well the fund's active management is performing relative to the broad mortgage market.

Expense Ratio: 0.21

Average Trading Volume

The average trading volume for JMBS provides sufficient liquidity for most investors, but potential investors should check the latest figures.

Bid-Ask Spread

The bid-ask spread for JMBS is typically tight, reflecting good liquidity but can fluctuate based on market conditions.

Market Environment Factors

Economic indicators like interest rates, inflation, and housing market trends significantly influence JMBS's performance. Rising interest rates can negatively impact MBS prices, while a strong housing market generally supports the value of mortgage-backed securities.

Growth Trajectory

JMBS's growth trajectory is dependent on its ability to attract assets through strong performance and effective marketing. Changes to strategy and holdings will be based on the manager's outlook and market conditions.

Competitive Edge

JMBS's competitive advantage lies in its active management strategy, which allows the fund to adapt to changing market conditions and seek outperforming MBS. The fund's experienced management team leverages in-depth research and analysis to identify attractive investment opportunities within the mortgage market. This active approach aims to deliver higher risk-adjusted returns compared to passively managed competitors. However, the success of this strategy is dependent on the manager's skill and market timing.

Volatility

JMBS's volatility is generally moderate, reflecting the relatively stable nature of mortgage-backed securities. Volatility can increase during periods of interest rate uncertainty or economic stress.

Market Risk

The primary market risks associated with JMBS include interest rate risk (rising rates can lower MBS prices), prepayment risk (borrowers refinancing at lower rates), and credit risk (risk of default on underlying mortgages).

Ideal Investor Profile

The ideal investor for JMBS is someone seeking current income and diversification through exposure to the mortgage market. Investors should have a moderate risk tolerance and be comfortable with potential fluctuations in MBS values.

Market Risk

JMBS is suitable for both long-term investors seeking income and active traders looking to capitalize on short-term movements in the mortgage market.

Janus Henderson Mortgage-Backed Securities ETF (JMBS) is an actively managed ETF that seeks to provide current income by investing in mortgage-backed securities. The fund's active management aims to outperform its benchmark, but comes with a higher expense ratio than passively managed competitors. It is suitable for investors seeking exposure to the mortgage market and comfortable with moderate risk. Performance is sensitive to interest rate changes and economic conditions.

• MBB
• VMBS
• SPMB
• AGG
• BND

Data Sources:

• Janus Henderson Official Website
• Morningstar
• Bloomberg
• ETF.com

Disclaimers:

The information provided is for informational purposes only and should not be considered investment advice. Past performance is not indicative of future results. Investment decisions should be made based on individual circumstances and after consulting with a financial advisor.