Janus Henderson Launches Active US Multi-Theme ETF with 0.49% TER

Janus Henderson has launched an active US multi-theme ETF, JTXX, with a TER of 0.49%. The ETF holds a concentrated portfolio of 20-25 US stocks aligned with themes including AI, deglobalisation, and healthcare innovation. Managed by Nick Schommer and Brian Recht, JTXX aims to capture growth opportunities and provide thoughtful diversification beyond the dominant companies in passive funds. The launch expands Janus Henderson's high-conviction equity ETF range and builds on two earlier launches that have amassed $16.3m in assets.

Janus Henderson Group PLC has expanded its high conviction equity ETF range with the launch of the Janus Henderson Tabula US Transformational Growth Equity UCITS ETF (JTXX) [2]. Listed on the London Stock Exchange (LSE), the ETF has a total expense ratio (TER) of 0.49%.

JTXX holds a concentrated portfolio of 20 to 25 US stocks aligned with themes including artificial intelligence (AI), deglobalisation, healthcare innovation, digitisation, and cloud migration. The ETF is managed by Nick Schommer and Brian Recht, who also manage the Janus Henderson Transformational Growth ETF in the US.

The launch of JTXX follows two earlier high-conviction equity ETFs from Janus Henderson: the Janus Henderson Tabula Japan High Conviction Equity UCITS ETF (JCPN) and the Janus Henderson Tabula Pan European High Conviction Equity UCITS ETF (JCEU) [2]. These earlier launches have amassed $16.3 million in assets since their introduction in Q4 2024.

Nick Schommer, one of the ETF's managers, commented, "We aim to capture tomorrow’s growth opportunities rather than yesterday’s winners. We believe that investors underappreciate the amount of risk that extreme concentration is causing in passive funds, which follow backward-looking indices and trade without regard to fundamentals. Our active approach provides thoughtful diversification beyond the 5-10 companies that currently dominate the index."

JTXX's launch comes at a time when high-conviction active thematic ETFs are gaining traction in the European ETF landscape. The arrival of Cathie Wood’s ARK Invest Europe, which launched three iterations of US-listed equivalent ETFs in April 2024, marked a significant entry into this niche space. Other ETF issuers like DWS and BlackRock have also introduced strategies focused on green transition leaders and high-conviction AI themes.

By launching JTXX, Janus Henderson continues its commitment to providing investors with active, high conviction equity ETFs that align with transformational growth themes. The ETF's launch underscores the company's strategic approach to meeting evolving investor demands and capturing growth opportunities in the dynamic investment landscape.

References:
[1] https://www.gurufocus.com/news/2986503/janus-henderson-group-plc-announces-liquidation-of-us-sustainable-equity-etf-jhg-stock-news
[2] https://www.etfstream.com/articles/janus-henderson-unveils-active-us-multi-theme-etf