Investment objective & strategy
As of Feb. 28, 2024 · prospectusObjective. Janus Henderson International Sustainable Equity ETF seeks long-term growth of capital.
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 equity securities. The Fund seeks to invest in companies whose products and services are considered by the Adviser as contributing to positive environmental or social change and sustainable economic development, including those that are strategically aligned with environmental and social megatrends such as climate change, resource constraints, growing populations, and aging populations. 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 if one or more of … 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 equity securities. The Fund seeks to invest in companies whose products and services are considered by the Adviser as contributing to positive environmental or social change and sustainable economic development, including those that are strategically aligned with environmental and social megatrends such as climate change, resource constraints, growing populations, and aging populations. 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 if one or more of the following tests are met: (i) the company 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 companys revenues are derived from one or more countries; or (iii) a majority of the companys assets are located in one or more countries. The Funds investments may be in non-U.S. currency or U.S. dollar-denominated. The Fund generally invests in a core group of 30-50 equity securities, which consist primarily of common stocks, but may also include other types of instruments, such as warrants. The Fund may also invest in equity securities of real estate-related companies, including real estate investment trusts (REITs) and similar REIT-like entities. The Fund will invest primarily in larger, well-established companies but may also invest in mid- and small-sized companies. The Funds uninvested assets may be held in cash, cash equivalents, and/or affiliated or unaffiliated exchange-traded funds (ETFs). The Fund is actively managed and does not seek to replicate the composition or performance of an index. In selecting investments, portfolio management employs a bottom-up approach that focuses on fundamental research. To identify the universe of investible securities for the Fund, portfolio management first employs positive selection criteria that seeks to identify companies that derive at least 50% of their current or future expected revenues from at least one of ten environmental and social themes. Environmental themes include efficiency, cleaner energy, water management, environmental services, and sustainable transport. Social themes include sustainable property and finance, safety, quality of life, knowledge and technology, and health. Next, portfolio management applies broad-based negative screens, which incorporate third-party inputs, to seek to avoid securities of issuers that, in the determination of the Adviser, are significantly engaged in or derive more than de minimis revenue from industries, activities, or assets considered by portfolio management to have a negative impact on society or the environment. A current list of such industries, activities, or assets, which may evolve over time, follows: ? alcohol; ? animal testing (non-medical); ? armaments; ? chemicals of concern; ? fossil fuel extraction and refining; ? fossil fuel power generation; ? fur; ? gambling; ? genetic engineering; ? intensive farming; ? meat and dairy production; ? nuclear power; ? pornography; ? tobacco; and ? United Nations Global Compact and Organization for Economic Co-operation and Development violators. In selecting investments, portfolio management will then consider, among other factors, a companys growth potential, competitive positioning, operational quality, and strategy. Portfolio management may also consider factors such as a companys historic and projected return on capital, balance sheets, and financial models. Portfolio management will also consider environmental, social, and governance (ESG) factors, which may include climate change, deforestation, biodiversity, human rights, company culture, and community relations, board structure and diversity, executive pay, and corporate reporting. Portfolio management seeks to maintain a portfolio of securities that has a carbon footprint and carbon intensity that is at least 20% below the MSCI All Country World ex-USA Index SM . At portfolio managements discretion, the Fund will engage with a companys management regarding matters that may evolve over time and may include shareholder rights, governance and remuneration, climate change, carbon emissions, pollution, biodiversity, human capital, and diversity and inclusion. Portfolio management evaluates and applies ESG and sustainable investment criteria relying on a mix of third-party data and internally-generated analyses based on information that may include web-based research reports from a company or independent sources, as well as corporate engagement. Portfolio management does not apply ESG and sustainable investment criteria in managing the Funds exposure to cash and cash equivalents. The Fund will generally consider selling a stock if, in the portfolio managements opinion, there has been a regulatory, industry, or position-level change that may impair a companys revenue growth. The Fund will also consider selling a stock if, in the portfolio managements opinion, the companys business model no longer meets the sustainable investment criteria employed in managing the Fund.
Top holdings
As of July 31, 2024 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| SCHNEIDER ELECTR | — | $486.39K | 6.45% |
| ASML Holding NV | — | $463.84K | 6.15% |
| INTACT FINL CORP | — | $437.89K | 5.81% |
| CONSTELLATION SOFTWARE INC | — | $409.94K | 5.44% |
| SSE PLC | — | $350.11K | 4.64% |
| TAIWAN SEMIC MFG CO LTD SP ADR | — | $349.51K | 4.64% |
| INFINEON TECH | — | $306.55K | 4.07% |
| ALLIANZ SE (REGD) | — | $303.94K | 4.03% |
| MURATA MFG CO | — | $298.44K | 3.96% |
| BORALEX INC -A | — | $294.28K | 3.90% |
Portfolio moves
Apr 30, 2024 → Jul 31, 2024How 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.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Ninety One International Franchise Fund | 22% | 0.85% |
| Templeton International - Climate Change Fund · TICGX, TICBX, TICDX, TICEX | 20% | 0.97% |
| BNY Mellon Sustainable International Equity ETF · BKIS | 19% | 0.70% |
Footnotes
- Net assets and holdings count as of July 31, 2024, from the fund's N-PORT filing.
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