Janus Henderson US Large Cap Equity Core UCITS ETF lists on the London Stock Exchange

On 9 October 2026, Janus Henderson Investors listed the Janus Henderson US Large Cap Equity Core UCITS ETF on the Main Market of the London Stock Exchange.

Sign up to our free newsletters

Article created by the editorial staff of ETFWorld.co.uk

Ignacio De La Maza, Head of EMEA & LatAm Client Group at Janus Henderson

Swap-based tracker of the Solactive GBS United States 500 Index, trading in US dollars under the ticker J501

The ETF trades in US dollars under the ticker J501 (ISIN: IE0005ZIBSW1). It is passively managed and aims to track the Solactive GBS United States 500 Index, a benchmark of US large-cap equities. The fund is a synthetic US equity ETF: exposure to the index is obtained mainly through total return swaps rather than by directly holding the index constituents.

A passive US large-cap ETF from an active manager

The new fund forms part of Janus Henderson’s European ETF range. Most products in that range are actively managed. In May 2026, Janus Henderson listed seven active UCITS ETFs on the London Stock Exchange. QuotedData reported at the time that the group’s European active ETF platform had surpassed $1 billion in assets under management. That growth followed the acquisition of Tabula Investment Management in 2024 and the rebranding of the ETF range under the Janus Henderson name in September 2025.

The US Large Cap Equity Core UCITS ETF takes a different approach. It is an index fund, and Janus Henderson describes it as offering passive exposure for core allocations.

Fund structure and key data

The fund is a sub-fund of Janus Henderson ICAV, an Irish collective asset-management vehicle with segregated liability between sub-funds. It is authorised in Ireland, regulated by the Central Bank of Ireland and qualifies as a UCITS.

According to the issuer’s product page, the sub-fund has four share classes: G USD Acc, GBP Acc, USD Acc ETF and X USD Acc. The key investor information document for the ETF share class (USD Acc ETF, ISIN IE0005ZIBSW1) states that the class is denominated in US dollars and accumulates income.

The Solactive GBS United States 500 Index

The Solactive GBS United States 500 Index is part of the Solactive Global Benchmark Series. It is designed to track the 500 largest companies in the US stock market. Constituents are selected by market capitalisation and weighted by free-float market capitalisation. The index is reconstituted quarterly. A Solactive factsheet for the index lists 503 members.

How the swap-based structure works

The fund obtains index exposure mainly through total return swaps. It invests in a portfolio of global developed market equities. It then exchanges the returns of that portfolio with one or more swap counterparties, which in return pay the fund the performance of the Solactive GBS United States 500 Index.

The investment manager may adjust the fund’s holdings and its use of derivatives to maintain that exposure over time. If using total return swaps is not possible or practicable, the fund may use other derivative instruments. It may also invest in a portfolio of equities that reflects the composition of the index as far as possible.

Janus Henderson describes the structure as a market-standard swap-based approach and says the team draws on the firm’s experience in managing index-tracking investments and swap-based structures.

Costs: TER, swap fee and counterparty contribution

The fund charges a single all-in fee, expressed as a total expense ratio (TER), which covers its ongoing fees and expenses and is paid from the fund’s assets. Janus Henderson’s product page shows a TER of 0.03% for the sub-fund’s G USD Acc share class. At the time of writing, the TER of the ETF share class was not shown on the London Stock Exchange instrument page.

Janus Henderson also publishes two further cost items for the sub-fund:

Swap fee: 0.145%.

Swap provider contribution: the investment manager may ask the swap counterparties to contribute towards certain fund operating costs. The issuer states that the current contribution is 0.08% per year of the fund’s net asset value, and that these payments have no impact on the fund’s performance or on investor returns.

Investors comparing the fund with physically replicated US large-cap ETFs should read the TER together with the swap fee, as disclosed in the fund’s documentation.

Conclusions

With this listing, Janus Henderson adds a passive US large-cap ETF to a London-listed range that consists mostly of actively managed funds. The fund tracks the Solactive GBS United States 500 Index through total return swaps. The issuer discloses a swap fee of 0.145% and a counterparty contribution of 0.08% a year. The ETF share class trades in US dollars on the London Stock Exchange under the ticker J501 and accumulates income.

Source : ETFWorld.co.uk