HDAVX
Janus Henderson International Dividend Fund
JANUS INVESTMENT FUND
Expense ratio1
1.10%
Net assets2
$269.13M
Holdings2
50
Category
International Equity
2025 return3
28.97%

Investment objective & strategy

As of Oct. 28, 2025 · prospectus

Objective. Janus Henderson International Dividend Fund seeks income with the potential for capital growth over the long-term.

Strategy. The Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in a portfolio of dividend-producing equity securities. The Fund generally invests in a core group of 40-60 equity securities, including common stocks, preferred stocks, depository receipts, and other equity-related securities. The Fund primarily invests in equity securities of companies that are economically tied to countries outside of the United States, including investments in emerging markets. A security is deemed to be economically tied to a country or countries outside of the United States if one or more of the following tests are met: (i) the issuer is organized in, or its primary business office or principal … The Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in a portfolio of dividend-producing equity securities. The Fund generally invests in a core group of 40-60 equity securities, including common stocks, preferred stocks, depository receipts, and other equity-related securities. The Fund primarily invests in equity securities of companies that are economically tied to countries outside of the United States, including investments in emerging markets. A security is deemed to be economically tied to a country or countries outside of the United States if one or more of the following tests are met: (i) the issuer is organized in, or its primary business office or principal trading market of its equity is located in, the country; (ii) a majority of the issuers revenues are derived from one or more countries outside of the United States; or (iii) a majority of the issuers assets are located in one or more countries outside of the United States. The Funds investments may be in non-U.S. currency or U.S. dollar-denominated. In selecting investments for the Fund, portfolio management seeks to identify equity securities of companies with attractive long-term business prospects that generate profits and produce attractive levels of dividend income. Although the Fund does not have a specific policy regarding the growth/value orientation or market capitalization of the companies in which it invests, portfolio management believes that focusing on dividend-producing equity securities will tend to lead to investments in mid-to-large capitalization value stocks (stocks of well-established, undervalued companies that portfolio management believes offer the potential for income and long-term capital appreciation). Portfolio management may, however, invest in smaller and less seasoned issuers and in stocks that are considered growth stocks. As part of its investment process, portfolio management considers environmental, social, and governance (ESG) risks and opportunities (ESG Factors) that it believes are financially material, alongside other fundamental investment factors. Examples of potential financially material ESG Factors include: corporate governance, company culture, exposure to climate change, and human capital management. To assess ESG Factors, portfolio management uses issuer reports, third-party data, and internally-generated analyses and may engage directly with issuers. ESG Factors are one of many considerations in the investment decision-making process, may not be determinative in deciding to include or exclude an investment from the portfolio, and may not be considered for every investment decision. The Fund will generally consider selling a security when, in portfolio managements opinion, there is a risk of significant deterioration in the companys fundamentals, there is a change in business strategy or issuer-specific business outlook that affects the original investment case, or if a superior investment opportunity arises. The Fund will also consider selling a security if, in portfolio managements opinion, the companys business model no longer meets the investment criteria employed in managing the Fund. The Fund may invest its assets in derivatives, which are instruments that have a value derived from, or directly linked to, an underlying asset, such as equity securities, fixed-income securities, commodities, currencies, interest rates, or market indices, as substitutes for securities in which the Fund invests or to hedge portfolio risk. In particular, the Fund may invest in derivatives such as forward foreign currency contracts to offset risks associated with currency exposure. The Fund may seek to earn additional income through lending its securities to certain qualified broker-dealers and institutions, in an amount equal to up to one-third of its total assets as determined at the time of the loan origination.

Top holdings

As of March 31, 2026 · N-PORT
SecurityTickerValue% of fund
TAIWAN SEMIC MFG CO LTD SP ADR $10.69M 3.97%
Janus Henderson Cash Liquidity Fund LLC $9.84M 3.66%
Tokyo Electron Ltd. NPV TOELF $9.07M 3.37%
Var Energi ASA NOK0.16 VREAF $8.76M 3.26%
Shell PLC ORD EUR0.07 SHELL NA $8.62M 3.20%
CFD_EQS GOLDUS33 7309681 BNPQF $7.59M 2.82%
Roche Holding AG CHF0.001 $7.49M 2.78%
DAI-ICHI LIFE HOLDINGS INC /JPY/ 0.00000000 DCNSF $7.09M 2.63%
Resona Holdings Inc. NPV RSNHF $6.92M 2.57%
BAE Systems PLC ORD GBP0.025 BA/ LN $6.83M 2.54%
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Allocation by sector

As of March 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Dec 31, 2025 → Mar 31, 2026
Opened
6
Exited
4
Increased
32
Decreased
10
Unchanged
2

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

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Advisers

As of June 30, 2025 · N-CEN
FirmRole
Janus Henderson Investors US LLC Adviser

Footnotes

  1. Expense ratio as of October 28, 2025, from the fund's prospectus.
  2. Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
  3. Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).

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