Janus Henderson : pioneering AAA CLO ETF (JAAA) surpasses $10 billion in AUM

• JAAA is the largest CLO ETF, representing over 90% of all AAA CLO ETF AUM •
JAAA is the top actively managed fixed income ETF globally in terms of net
inflows YTD and the third largest active fixed income ETF by AUM

June 10, 2024

DENVER-Janus Henderson Investors (NYSE: JHG) today announced that its pioneering AAA Collateralized Loan Obligation ETF, Janus Henderson AAA CLO ETF (JAAA), has surpassed $10 billion in AUM, making it the largest CLO ETF, as measured by AUM.¹ The Fund represents over 90% of all AAA CLO ETF AUM.² In addition, JAAA is the top actively managed fixed income ETF globally in terms of net inflows YTD in 2024 and is the third largest active fixed income ETF by AUM, growing by $4.7 billion in AUM this year alone.³

JAAA was launched in October 2020 as one of the first CLO ETFs in the market. Since then the Fund has continued to expand U.S. investor access to the high-quality floating rate AAA-rated CLO market, an asset class that historically was largely only available to institutional investors, and is now available in a liquid, transparent, tax-efficient ETF structure. JAAA's AUM at the end of 2023 was $5.3 billion.

JAAA is an actively managed ETF that invests in high-quality CLOs and seeks high yield without sacrificing quality or extending duration. The Fund is managed by Portfolio Managers John Kerschner, CFA, Nick Childs, CFA, and Jessica Shill.

"We are proud to have reached this significant milestone with JAAA. We believe AAA CLOs are an attractive addition to portfolios due to their diversification benefits, low interest rate volatility, attractive returns and strong credit ratings. Excluding Agency MBS, the securitized market is a $5 trillion market with few pure play funds that invest in it, and our leading securitized ETFs may provide clients with solutions in areas of the market that are underrepresented by market indices," said John Kerschner,Head of U.S. Securitized Products and Portfolio Manager at Janus Henderson Investors.

Janus Henderson has been at the forefront of active fixed income ETF innovation and offers a number of pioneering fixed income ETFs. In addition to JAAA, these include the recently launched JSI, which invests in opportunities across the U.S. securitized markets, JBBB, which provides exposure to floating-rate CLOs generally rated BBB, JMBS, the largest actively managed mortgage backed securities ETF, and VNLA, an active global short duration income ETF. The firm won Global Capital's inaugural CLO ETF Provider of the Year award in 2024.⁴

Nick Cherney, Head of Innovation at Janus Henderson Investors, commented, "As the fourth largest active fixed income ETF provider globally, we have continued to see strong investor demand across our active Fixed Income ETF suite this year, including in JBBB, JMBS and JSI, demonstrating that securitized assets and CLOs are becoming more mainstream and accessible."⁵

"We believe the exceptional growth of JAAA and our suite of actively managed fixed income ETFs is a testament to our commitment to product innovation, competitive pricing, and investment excellence," added Michael Schweitzer, Head of North America Client Group at Janus Henderson Investors.

1 Source: Bloomberg Professional Service, as of June 4, 2024.
2 Source: Bloomberg Professional Service, as of June 4, 2024.
3 Source: Bloomberg Professional Service, as of June 4, 2024.
4 For more about the awards, including selection criteria, please visit: https://www.globalcapital.com/us-securitization
5 Source: Bloomberg Professional Service, as of June 5, 2024.

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Notes to editors

Janus Henderson Group is a leading global active asset manager dedicated to helping clients define and achieve superior financial outcomes through differentiated insights, disciplined investments, and world-class service. As of March 31, 2024, Janus Henderson had approximately US$353 billion in assets under management, more than 2,000 employees, and offices in 24 cities worldwide. The firm helps millions of people globally invest in a brighter future together. Headquartered in London, Janus Henderson is listed on the New York Stock Exchange.

Source: Janus Henderson Group plc

Investing involves risk, including the possible loss of principal and fluctuation of value. Past performance is no guarantee of future results. There is no assurance the stated objective(s) will be met.

Please consider the charges, risks, expenses, and investment objectives carefully before investing. For a prospectus or, if available, a summary prospectus containing this and other information, please call Janus Henderson at 800.668.0434 or download the file fromjanushenderson.com/info. Read it carefully before you invest or send money.

OBJECTIVE: Janus Henderson AAA CLO ETF (JAAA) seeks capital preservation and current income by seeking to deliver floating-rate exposure to high quality AAA-rated collateralized loan obligations ("CLOs").

Collateralized Loan Obligations (CLOs) are debt securities issued in different tranches, with varying degrees of risk, and backed by an underlying portfolio consisting primarily of below investment grade corporate loans. The return of principal is not guaranteed, and prices may decline if payments are not made timely or credit strength weakens. CLOs are subject to liquidity risk, interest rate risk, credit risk, call risk and the risk of default of the underlying assets.

Concentrated investments in a single sector, industry or region will be more susceptible to factors affecting that group and may be more volatile than less concentrated investments or the market as a whole. Derivatives can be highly volatile and more sensitive to changes in economic or market conditions than other investments. This could result in losses that exceed the original investment and may be magnified by leverage. Actively managed portfolios may fail to produce the intended results. No investment strategy can ensure a profit or eliminate the risk of loss.

Credit quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Ratings may differ by rating agency.

Janus Henderson Investors US LLC is the investment adviser and ALPS Distributors, Inc. is the distributor. ALPS is not affiliated with Janus Henderson or any of its subsidiaries.

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