Janus Henderson has listed seven new active UCITS ETFs on the London Stock Exchange, expanding the range of strategies available to European investors.
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Article created by the editorial staff of ETFWorld.co.uk
Ignacio De La Maza, Head of EMEA & LatAm Client Group at Janus Henderson
The seven products range from spread-based fixed income, emerging market government bonds, mortgage-backed securities, high-conviction equity strategies and global research, all actively managed with fees ranging from 0.20% to 0.54% per annum.
The acceleration of the European ETF platform
With this multiple listing, the group’s European active ETF platform has surpassed the $1 billion threshold in assets under management, a milestone announced by the company at the start of 2026. The move is part of an expansion strategy that began with the acquisition of Tabula Investment Management in 2024 and continued with the rebranding of the range under the Janus Henderson brand in September 2025.
“Active Core” is the term Janus Henderson uses to describe this family of ETFs: actively managed products designed to form the core of a portfolio, with lower costs than traditional mutual funds and full daily portfolio transparency.
The seven ETFs in detail
1. Janus Henderson US Short Duration High Yield Active Core UCITS ETF – GBP Hedged Inc
- ISIN: IE0008C3G0Y9
- TER: 0.54%
The fund invests in short-duration US high-yield corporate bonds, predominantly rated BB-B. The objective is to offer a high income stream whilst limiting interest rate sensitivity and volatility. The GBP-hedged version with income distribution is designed for UK investors seeking returns without taking on currency risk. The strategy employs strict risk constraints and aims for consistent outperformance relative to the short-term high-yield market.
2. Janus Henderson US Transformational Growth High Conviction Equity UCITS ETF (USD) Acc
- ISIN: IE0009ZTL4B5
- TER: 0.49%
An active equity ETF investing in a concentrated portfolio of 20–25 US companies positioned to benefit from long-term transformative trends: artificial intelligence, deglobalisation, healthcare innovation, digitalisation and cloud migration. The management team uses a bottom-up approach to identify companies capable of sustained compounding, disruptive innovators or undervalued companies undergoing structural change. Launched on 21 July 2025, the fund had assets of approximately $4.6 million as at 30 March 2026.
3. Janus Henderson Mexico Government Bond USD 10-30Y Core UCITS ETF
- ISIN: IE000J8RGOJ4
- TER: 0.20%
A government bond fund investing in US dollar-denominated Mexican government bonds with maturities ranging from 10 to 30 years. The benchmark is the ICE BofA 10-30 Year USD Mexico Government Index. The strategy aims to provide exposure to the long end of the Mexican sovereign yield curve whilst minimising currency risk, as the bonds are denominated in US dollars. At the end of February 2026, the fund’s NAV stood at approximately $9.9 million. The product is also available in a Mexican peso-hedged version listed on the Mexican Stock Exchange.
4. Janus Henderson USD Mortgage-Backed Securities Active Core UCITS ETF
- ISIN: IE000YMBL844
- TER: 0.35%
An active bond ETF that invests primarily in US mortgage-backed securities (agency and non-agency MBS) with diversified maturities. The objective is to generate total return over the long term through a combination of income and capital growth. The fund invests at least 80% of its net assets in mortgage-related fixed-income instruments. Launched on 7 May 2025, it had assets under management of approximately $39.4 million as at 29 April 2026.
5. Janus Henderson USD Mortgage-Backed Securities Active Core UCITS ETF (USD) – GBP-Hedged Dist
- ISIN: IE0008B0OAD5
- TER: 0.40%
A version with GBP currency hedging and income distribution from the US MBS strategy. The distribution class allows investors requiring a regular income stream to access the strategy without having to sell units. The TER of 0.40% includes the cost of currency hedging.
6. Janus Henderson Global Research-Engineered Equity Active Core UCITS ETF (USD) Acc
- ISIN: IE000Y3FZEN4
- TER: 0.30%
Active global equity ETF that aims to outperform the MSCI World Index over the long term, with an expected tracking error of around 1.5%. The strategy combines the fundamental research of Janus Henderson’s team of analysts with benchmark-aware portfolio construction. The fund is managed by John Jordan, Joshua Cummings and Jeremy Tjaden, who collectively manage approximately $35 billion in research-led strategies. Launched on 21 October 2025, it is also listed on Borsa Italiana. At launch, assets under management stood at approximately €5 million.
7. Janus Henderson EUR Short Duration Income Active Core UCITS ETF (EUR) – GBP-Hedged Dist
- ISIN: IE0002P9KZW1
- TER: 0.30%
A short-duration euro-denominated bond fund that invests at least 80% of its assets in a diversified global portfolio of short-term fixed-income instruments, predominantly investment grade. The objective is to provide a stable income stream whilst preserving capital across different market cycles. The GBP-hedged, distribution-oriented version is aimed at UK investors seeking returns in euros without assuming currency risk. The fund was authorised by the Central Bank of Ireland on 28 January 2025.
The market context
The listing comes at a time when various macroeconomic variables make the seven products particularly relevant for European portfolios.
On the high-yield front, expected default rates for 2026 are in a manageable range of 2.5% to 3% according to Fitch, well below long-term historical averages, thanks to a more accommodative monetary policy. The Federal Reserve kept rates unchanged at 3.50–3.75% at its March 2026 meeting, and the market is pricing in likely cuts by the end of the year. In this scenario, short-duration strategies offer an attractive carry with reduced sensitivity to rate movements.
For MBS, the environment is favourable: low interest rate volatility and an accommodative monetary policy are supporting the performance of agency securities. The GSEs (Fannie Mae and Freddie Mac) are opportunistically purchasing MBS when spreads widen, providing technical support to the market.
On the Mexican sovereign debt front, Banxico’s benchmark rate was recently cut to 6.75% and projections point to a possible further decline towards 6% by the end of 2026, against a backdrop of inflation expected to moderate towards 3.5%. The yield spread relative to US Treasuries remains high, as evidenced by the 8.74% yield on 10-year Mexican government bonds maturing in February 2026.
As for the exchange rate, consensus estimates place the Mexican peso at around 18.10–18.50 per dollar by the end of 2026, with risks linked to the depth of the monetary easing cycle and broader currency movements across emerging markets.
Structure and operational aspects
All seven ETFs are domiciled in Ireland and form part of the Janus Henderson ICAV (Irish Collective Asset-management Vehicle) structure, formerly known as Tabula ICAV. The Central Bank of Ireland approved each sub-fund on various dates between January and November 2025.
The products are listed on the London Stock Exchange and tradable during trading hours. Active management allows portfolio managers to deviate from the benchmark indices to capture return opportunities, whilst maintaining risk discipline.
This multiple listing consolidates Janus Henderson’s position as a leading player in the European UCITS active ETF market. With 17 ETFs already listed in the United States and total assets under management on the rise, the group is building an integrated transatlantic offering covering the main asset classes with actively managed strategies at competitive costs.
Source : ETFWorld.co.uk
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