XML 73 R11.htm IDEA: XBRL DOCUMENT v3.22.4
Label Element Value
Risk Return Abstract rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName JANUS INVESTMENT FUND
Prospectus Date rr_ProspectusDate Jan. 27, 2023
Class D Shares | Janus Henderson Contrarian Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <span style="color:#000000;font-family:Times New Roman;font-size:15.20pt;font-weight:bold;margin-left:3pt;">Janus Henderson Contrarian Fund</span>
Objective [Heading] rr_ObjectiveHeading <span style="color:#FFFFFF;font-family:Times New Roman;font-size:10.45pt;font-weight:bold;margin-left:0.0pt;text-transform:uppercase;">Investment Objective</span>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Janus Henderson Contrarian Fund seeks long-term growth of capital.
Expense [Heading] rr_ExpenseHeading <span style="color:#FFFFFF;font-family:Times New Roman;font-size:10.45pt;font-weight:bold;margin-left:0.0pt;text-transform:uppercase;">Fees and Expenses of the Fund</span>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy, hold, and sell Shares of the Fund.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <span style="font-family:Times New Roman;font-size:9.50pt;font-weight:bold;">Portfolio Turnover:</span>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 48% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 48.00%
Expense Example [Heading] rr_ExpenseExampleHeading <span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;font-weight:bold;margin-left:3pt;">EXAMPLE:</span>
Expense Example by Year [Heading] rr_ExpenseExampleByYearHeading <span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;"> The Example assumes that you invest $10,000 in the Fund for the time periods indicated, reinvest all dividends and distributions, and then redeem all of your Shares at the end of each period. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</span>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock The Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
Strategy [Heading] rr_StrategyHeading <span style="color:#FFFFFF;font-family:Times New Roman;font-size:10.45pt;font-weight:bold;margin-left:0.0pt;text-transform:uppercase;">Principal investment strategies</span>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock 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 with the potential for long-term growth of capital. The Fund normally invests primarily in a portfolio of 35-55 common stocks. The portfolio manager seeks to invest in companies where the stock price trades at a significant discount to the portfolio manager’s estimate of fair value and whose intrinsic value the portfolio manager believes will grow over time. The Fund is classified as non-diversified, which allows it to hold larger positions in securities compared to a fund that is classified as diversified. The Fund may invest in companies of any size, from larger, well-established companies to smaller, emerging growth companies. The Fund may also invest in fixed-income instruments, such as convertible securities and preferred stock. The Fund may invest in foreign securities. The Fund may also invest in real estate investment trusts (“REITs”).The portfolio manager applies a “bottom up” approach in choosing investments. In other words, the portfolio manager looksat companies one at a time to determine if a company is an attractive investment opportunity and if it is consistent with the Fund’s investment policies. In conducting the “bottom up” analysis, the portfolio manager seeks to identify durable businesses whose stocks are available at market prices below the portfolio manager’s estimate of their intrinsic value, whose intrinsic value is expected to grow over time, and whose management teams are aligned with shareholders. The portfolio manager will generally consider selling a stock when, in the portfolio manager’s opinion, the business shows declining fundamentals, the stock is overvalued, or if the investing thesis for owning the stock has changed.The Fund may seek to earn additional income through lending its securities to certain qualified broker-dealers and institutions on a short-term or long-term basis, in an amount equal to up to one-third of its total assets as determined at the time of the loan origination.
Risk [Heading] rr_RiskHeading <span style="color:#FFFFFF;font-family:Times New Roman;font-size:10.45pt;font-weight:bold;margin-left:0.0pt;text-transform:uppercase;">Principal investment risks</span>
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The biggest risk is that the Fund’s returns will vary, and you could lose money. The Fund is designed for long-term investors seeking an equity portfolio, including common stocks. Common stocks tend to be more volatile than many other investment choices. The principal risks associated with investing in the Fund are set forth below.Market Risk.The value of the Fund’s portfolio may decrease due to short-term market movements and over more prolongedmarket downturns. As a result, the Fund’s net asset value may fluctuate and it may be more difficult to value or sell the Fund’s holdings. Market risk may affect a single issuer, industry, economic sector, or the market as a whole. Market risk may be magnified if certain social, political, economic, and other conditions and events (such as terrorism, conflicts, including related sanctions, social unrest, natural disasters, epidemics and pandemics, including COVID-19) adversely interrupt the global economy and financial markets. It is important to understand that the value of your investment may fall, sometimes sharply, in response to changes in the market, and you could lose money.Portfolio Management Risk.The Fund is an actively managed investment portfolio and is therefore subject to the risk that the investment strategies and research process employed for the Fund may fail to produce the intended results. The Fundmay underperform its benchmark index or other mutual funds with similar investment objectives.Small- and Mid-Sized Companies Risk.Investments in securities issued by small- and mid-sized companies, which can include smaller, start-up companies offering emerging products or services, may involve greater risks than are customarily associated with larger, more established companies. For example, while small- and mid-sized companies may realize more substantial growth than larger or more established issuers, they may also suffer more significant losses as a result of their narrow product lines, limited operating history, greater exposure to competitive threats, limited financial resources, limited trading markets, and the potential lack of management depth. Securities issued by small- and mid-sized companies tend to be more volatile and somewhat more speculative than securities issued by larger or more established companies and may underperform as compared to the securities of larger or more established companies. These holdings are also subject to wider price fluctuations and tend to be less liquid than stocks of larger or more established companies, which could have a significant adverse effect on the Fund’s returns, especially as market conditions change.Value Investing Risk.Because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “value” stocks may perform differently than other types of stocks and from the market as a whole, and can continue to be undervalued by the market for long periods of time. It is also possible that a value stock will never appreciate to the extent expected by the portfolio manager.Growth Securities Risk.Securities of companies perceived to be “growth” companies may be more volatile than other stocks and may involve special risks. If the portfolio manager’s perception of a company’s growth potential is not realized, the securities purchased may not perform as expected, reducing the Fund’s returns. In addition, because different types of stocks tend to shift in and out of favor depending on market and economic conditions, “growth” stocks may perform differently from the market as a whole and other types of securities.Nondiversification Risk.The Fund is classified as nondiversified under the Investment Company Act of 1940, as amended. This gives the Fund’s portfolio manager more flexibility to hold larger positions in securities. As a result, an increase or decrease in the value of a single security held by the Fund may have a greater impact on the Fund’s net asset value and total return.Issuer Concentration Risk.The Fund’s portfolio may be comprised of a relatively small number of issuers in comparison to other funds. As a result, the Fund may be subject to greater risks than a fund that invests in a greater number of issuers. A change in the value of any single investment held by the Fund may affect the overall value of the Fund more than it would affect a fund that holds more investments. In particular, the Fund may be more susceptible to adverse developments affecting any single issuer held by the Fund and may be susceptible to greater losses because of these developments.REIT Risk.REITs are subject to certain risks inherent in the direct ownership of real estate, including without limitation, a possible lack of mortgage funds and associated interest rate risks, overbuilding, property vacancies, increases in property taxes and operating expenses, changes in zoning laws, losses due to environmental damages and changes in neighborhood values and appeal to purchasers. In addition, a REIT could fail to qualify for tax-free pass-through of its income under the Internal Revenue Code of 1986, as amended, or fail to maintain its exemption from registration under the Investment Company Act of 1940, as amended, which could produce adverse economic consequences for the REIT and its investors, including the Fund. Dividends received by the Fund from a REIT generally will not constitute qualified dividend income.Foreign Exposure Risk.Foreign markets can be more volatile than the U.S. market. As a result, the Fund’s returns and net asset value may be affected by fluctuations in currency exchange rates or political or economic conditions in a particular country. In some foreign markets, there may not be protection against failure by other parties to complete transactions. It may not be possible for the Fund to repatriate capital, dividends, interest, and other income from a particular country or governmental entity. In addition, a market swing in one or more countries or regions where the Fund has invested a significant amount of its assets may have a greater effect on the Fund’s performance than it would in a more geographically diversified portfolio.Fixed-Income Securities Risk.Fixed-income securities are generally subject to the following risks:Interest rate risk is the risk that prices of bonds and other fixed-income securities will increase as interest rates fall and decrease as interest rates rise. The United States is currently experiencing a rising interest rate environment, which may increase the Fund’s exposure to risks associated with rising interest rates. Rising interest rates have unpredictable effects on the markets and may expose fixed-income and related markets to heightened volatility.Credit risk is the risk that the credit strength of an issuer of a fixed-income security will weaken and/or that the issuer will be unable to make timely principal and interest payments and that the security may go into default.Prepayment risk is the risk that, during periods of falling interest rates, certain debt obligations may be paid off quicker than originally anticipated, which may cause the Fund to reinvest its assets in securities with lower yields, resulting in a decline in the Fund’s income or return potential.Extension risk is the risk that, during periods of rising interest rates, certain debt obligations may be paid off substantially slower than originally anticipated, and as a result, the value of those obligations may fall.Valuation risk is the risk that one or more of the fixed-income securities in which the Fund invests are priced differently than the value realized upon such security’s sale. In times of market instability, valuation may be more difficult. Valuation may also be affected by changes in the issuer’s financial strength, the market’s perception of such strength, or in the credit rating of the issuer or the security.Liquidity risk is the risk that fixed-income securities may be difficult or impossible to sell at the time that the portfolio manager would like or at the price the portfolio manager believes the security is currently worth. Consequently, the Fundmay have to accept a lower price to sell a security, sell other securities to raise cash, or give up an investment opportunity, any of which could have a negative effect on the Fund’s performance. In unusual market conditions, even normally liquid securities may be affected by a degree of liquidity risk (i.e., if the number and capacity of traditional market participants is reduced).Convertible Securities Risk.The Fund may invest in securities that are convertible into preferred and common stocks, and thus, is subject to the risks of investments in both debt and equity securities. The market value of convertible securities tends to decline as interest rates increase and, conversely, tends to increase as interest rates decline. In addition, because of the conversion feature, the market value of convertible securities tends to vary with fluctuations in the market value of the underlying preferred and common stocks and, therefore, also will react to variations in the general market for equity securities.Securities Lending Risk.There is the risk that when portfolio securities are lent, the securities may not be returned on a timely basis, and the Fund may experience delays and costs in recovering the security or gaining access to the collateral provided to the Fund to collateralize the loan. If the Fund is unable to recover a security on loan, the Fund may use the collateral to purchase replacement securities in the market. There is a risk that the value of the collateral could decrease below the cost of the replacement security by the time the replacement investment is made, resulting in a loss to the Fund.An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney <span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;">The biggest risk is that the Fund’s returns will vary, and you could lose money.</span>
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution <span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;font-style:italic;">An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</span>
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus <span style="font-family:Times New Roman;font-size:9.50pt;font-style:italic;font-weight:bold;">Nondiversification Risk.</span><span style="font-family:Times New Roman;font-size:9.50pt;line-height:11.40pt;"> </span><span style="font-family:Times New Roman;font-size:9.50pt;">The Fund is classified as nondiversified under the Investment Company Act of 1940, as amended. This gives the Fund’s portfolio manager more flexibility to hold larger positions in securities. As a result, an increase or decrease in the value of a single security held by the Fund may have a greater impact on the Fund’s net asset value and total return.</span>
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <span style="color:#FFFFFF;font-family:Times New Roman;font-size:10.45pt;font-weight:bold;margin-left:0.0pt;text-transform:uppercase;">Performance information</span>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following information provides some indication of the risks of investing in the Fund by showing how the Fund’s performance has varied over time. Class D Shares of the Fund commenced operations on February 16, 2010, as a result of the restructuring of Class J Shares, the predecessor share class. The performance shown for Class D Shares for periods prior to February 16, 2010, reflects the performance of the Fund’s former Class J Shares, calculated using the fees and expenses in effect during the periods shown, net of any applicable fee and expense limitations or waivers. If Class D Shares of the Fund had been available during periods prior to February 16, 2010, the performance shown may have been different. The performance shown for the periods following the Fund’s commencement of Class D Shares reflects the fees and expenses of Class D Shares, net of any applicable fee and expense limitations or waivers.The bar chart depicts the change in performance from year to year during the periods indicated. The table compares the Fund’s average annual returns for the periods indicated to a broad-based securities market index. All figures assume reinvestment of dividends and distributions. For certain periods, the Fund’s performance reflects the effect of expense waivers. Without the effect of these expense waivers, the performance shown would have been lower.The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future. Updated performance information is available at janushenderson.com/allfunds or by calling 1-800-525-3713.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns <span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;">The bar chart depicts the change in performance from year to year during the periods indicated. </span><span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;">The table compares the </span><span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;">Fund’s average annual returns for the periods indicated to a broad-based securities market index. All figures assume reinvestment of dividends and distributions.</span>
Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex <span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;">The table compares the </span><span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;">Fund’s average annual returns for the periods indicated to a broad-based securities market index. All figures assume reinvestment of dividends and distributions.</span>
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone <span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;font-style:italic;">1-800-525-3713</span>
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress <span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;font-style:italic;">janushenderson.com/allfunds</span>
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;font-style:italic;">The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future.</span>
Bar Chart [Heading] rr_BarChartHeading Annual Total Returns for Class D Shares (calendar year-end)
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best Quarter:2nd Quarter 202025.98%Worst Quarter:1st Quarter 2020– 24.60%
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns (periods ended 12/31/22)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate <span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;"> After-tax returns are calculated using the historically highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. </span>
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred <span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;">Actual after-tax returns depend on your </span><span style="color:#000000;font-family:Times New Roman;font-size:9.50pt;">individual tax situation and may differ from those shown in the preceding table. The after-tax return information shown above does not apply to Fund shares held through a tax-advantaged account, such as a 401(k) plan or an IRA.</span>
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher <span style="font-family:Times New Roman;font-size:7.60pt;">If the Fund incurs a loss, which generates a tax benefit, the Return After Taxes on Distributions and Sale of Fund Shares may exceed the Fund’s other return figures.</span>
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The Fund’s primary benchmark index is the S&P 500 Index. The S&P 500 Index is used to calculate the Fund’s performance fee adjustment. The index is described below.The S&P 500 Index is a commonly recognized, market capitalization-weighted index of 500 widely held equity securities, designed to measure broad U.S. equity performance.After-tax returns are calculated using distributions for the Fund’s Class D Shares for the periods following February 16, 2010; and for the Fund’s Class J Shares, the predecessor share class, for periods prior to February 16, 2010. If Class D Shares of the Fund had been available during these earlier periods, distributions may have been different and thus, after-tax returns may have been different from those shown. After-tax returns are calculated using the historically highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your individual tax situation and may differ from those shown in the preceding table. The after-tax return information shown above does not apply to Fund shares held through a tax-advantaged account, such as a 401(k) plan or an IRA.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock Updated performance information is available at janushenderson.com/allfunds or by calling 1-800-525-3713.
Class D Shares | Janus Henderson Contrarian Fund | Class D  
Risk Return Abstract rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.70% [1]
Other Expenses rr_OtherExpensesOverAssets 0.16%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.86%
1 Year rr_ExpenseExampleYear01 $ 88
3 Years rr_ExpenseExampleYear03 274
5 Years rr_ExpenseExampleYear05 477
10 Years rr_ExpenseExampleYear10 $ 1,061
2013 rr_AnnualReturn2013 38.56%
2014 rr_AnnualReturn2014 17.46%
2015 rr_AnnualReturn2015 (13.10%)
2016 rr_AnnualReturn2016 8.13%
2017 rr_AnnualReturn2017 5.38%
2018 rr_AnnualReturn2018 (4.09%)
2019 rr_AnnualReturn2019 43.19%
2020 rr_AnnualReturn2020 27.86%
2021 rr_AnnualReturn2021 20.99%
2022 rr_AnnualReturn2022 (21.54%)
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2020
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 25.98%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2020
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (24.60%)
Class D Shares | Janus Henderson Contrarian Fund | Return Before Taxes | Class D  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (21.54%)
5 Years rr_AverageAnnualReturnYear05 10.76%
10 Years rr_AverageAnnualReturnYear10 10.39%
Since Inception rr_AverageAnnualReturnSinceInception 7.58%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2000
Class D Shares | Janus Henderson Contrarian Fund | Return After Taxes on Distributions | Class D  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (21.64%)
5 Years rr_AverageAnnualReturnYear05 8.96%
10 Years rr_AverageAnnualReturnYear10 8.82%
Since Inception rr_AverageAnnualReturnSinceInception 6.68%
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2000
Class D Shares | Janus Henderson Contrarian Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class D  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (12.68%) [2]
5 Years rr_AverageAnnualReturnYear05 8.20% [2]
10 Years rr_AverageAnnualReturnYear10 8.16% [2]
Since Inception rr_AverageAnnualReturnSinceInception 6.26% [2]
Inception Date rr_AverageAnnualReturnInceptionDate Feb. 29, 2000 [2]
Class D Shares | Janus Henderson Contrarian Fund | S&P 500® Index (reflects no deduction for expenses, fees, or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (18.11%)
5 Years rr_AverageAnnualReturnYear05 9.42%
10 Years rr_AverageAnnualReturnYear10 12.56%
Since Inception rr_AverageAnnualReturnSinceInception 6.64%
[1] This fee may adjust up or down monthly based on the Fund’s performance relative to its benchmark index over the performance measurement period. For more information regarding performance-based advisory fees, refer to “Management Expenses” in the Fund’s Prospectus.
[2] If the Fund incurs a loss, which generates a tax benefit, the Return After Taxes on Distributions and Sale of Fund Shares may exceed the Fund’s other return figures.