What this ETF is trying to do

The Janus Henderson Securitized Income ETF (JSI) is an exchange-traded fund that focuses on providing income to investors. It is traded on the NYSE.

What the numbers show

As of October 9, 2026, the share price of JSI was $50.07. To understand how the fund has performed, we look at two different types of returns:

• Price Return: This measures only the change in the share price. The one-year price return was -3.95%, and the year-to-date (YTD) price return was -3.82%.

• Total Return: This reflects the overall return, including the cash distributions paid to investors. The one-year total return was 1.88%, and the YTD total return was 0.44%.

Because the total return is higher than the price return, it shows that the cash payments helped offset the decline in the share price.

For a simple example, if you had invested $10,000 based on the estimated price from roughly one year ago ($52.13), the price-only decline of -3.95% would mean your shares were worth approximately $9,605 before counting any cash distributions.

Income and distribution explanation

JSI is designed for investors who want regular cash payments. It usually pays distributions monthly and has made 12 payments over the last year.

The distribution yield is approximately 6.07%. It is important for beginners to know that a high distribution yield alone can be misleading. A high yield does not guarantee that the investor is making a profit, as the share price can still go down while the fund pays out cash.

NAV erosion explanation

"NAV erosion" happens when the actual value of the assets inside a fund drops over time, often causing the share price to fall permanently.

For JSI, the erosion-risk score is 94, and the erosion severity is labeled as "good." The erosion label is "Stable / sideways," and the severe erosion-risk flag is false. This means the fund's price trend has not triggered a severe erosion warning.

Pros

• Regular Income: The fund provides monthly cash distributions.

• Stability: The erosion-risk score suggests the fund's value has been stable or sideways.

• Positive Total Return: Despite a falling share price, the total return over the last year remained positive.

Cons

• Price Decline: The share price has decreased both year-to-date and over the last 12 months.

• No Holdings Data: There is currently no specific information available regarding the individual companies or assets held within the fund.

Beginner takeaway

JSI is an income-focused ETF. While its share price has declined recently, the cash distributions it pays have kept the total return positive. Investors in these types of funds generally care about "principal stability," which means they want the share price to stay steady while they collect their monthly income.