JRE
Janus Henderson U.S. Real Estate ETF
JRE is an actively managed fund of real-estate and real estate-related companies in the United States.
US
EQUITY
Active
MANAGEMENT STYLE
24.4 M
ASSETS UNDER MGMT
65 bp
EXPENSES
Fund Basics
| Fund sponsor | Janus Henderson |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 22, 2021 |
| Assets (mns) | $24 |
| Expense ratio | 65 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| EQUINIX INC | 9.0 % |
| PUBLIC STORAGE | 7.8 % |
| REALTY INCOME CORP | 7.0 % |
| DIGITAL REALTY TRUST INC | 5.9 % |
| PROLOGIS INC | 5.4 % |
| AVALONBAY COMMUNITIES INC | 4.9 % |
| WELLTOWER, INC. | 4.7 % |
| VENTAS INC | 4.7 % |
| EASTGROUP PROPERTIES INC | 4.6 % |
| UDR INC | 4.3 % |
Constituent Breakdown
| Number of holdings | 25 |
| Herfindahl-Hirschman Index | 498 |
| Wgt avg mkt cap (mns) | $30,079 |
| Large cap (>$10bn) | 73.1% |
| Mid cap ($2-10bn) | 26.9% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 93.4 % |
 |
CANADA | 2.8 % |
Historical Performance
Standardized Performance (as of 03/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 3.0% | 11.3% | 3.8% | -1.6% | -- | -- | -- | 3.5% |
| Dividend Yield | -3.1% | -4.2% | 2.3% | -0.7% | -- | -- | -- | -4.8% |
| Total Returns | -0.1% | 7.1% | 6.0% | -2.3% | -- | -- | -- | -1.4% | Ann. Volatility | 16.4% | 15.8% | 17.3% | 20.2% | -- | -- | -- | 21.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.92 | 65% |
| MSCI EAFE | 0.94 | 66% |
| MSCI Emg Mkts | 0.75 | 42% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.24% |
| ADV of underlying (mns) | $2,397 |
Technical Indicators
| Recent close | $23.24 |
| 30d moving avg. | $23.32 |
| Annualized volatility | 19.9% |
| Relative strength (RSI) | 46 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. JRE |
Expenses vs. JRE |
ALTAR Score™ vs. JRE |
|---|---|---|---|---|
| ICF | iShares Cohen & Steers REIT ETF | 44.6% | -32 bp | +0.8% |
| XLRE | Real Estate Select Sector SPDR Fund | 44.5% | -57 bp | +4.9% |
| JPRE | JPMorgan Realty Income ETF | 43.3% | -15 bp | -0.2% |
| USRT | iShares Core U.S. REIT ETF | 43.3% | -57 bp | +0.8% |
| RWR | SPDR Dow Jones REIT ETF | 43.3% | -40 bp | +0.5% |
| FRI | First Trust S&P REIT Index Fund | 43.0% | -15 bp | +0.3% |
| PSR | Invesco Active U.S. Real Estate Fund | 42.5% | -30 bp | +0.6% |
| BBRE | JPMorgan BetaBuilders MSCI U.S. REIT ETF | 42.5% | -54 bp | +0.7% |
| DFAR | Dimensional US Real Estate ETF | 41.8% | -46 bp | +0.7% |
| FPRO | Fidelity Real Estate Investment ETF | 41.5% | -6 bp | -0.1% |
Risk and Returns: JRE vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025E | 2026E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2024 | 2025E | Fwd Est | 2026E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/24/2025
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
JRE
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
JRE
1.7%
Cat. Avg
6.0%
ALTAR Score™ Calculation
Category Overview
There are 959 funds in the US Equity category, with an average ALTAR Score™
of 6.0% and a standard deviation of
2.9%. JRE's ALTAR Score™ is approximately
1.5 standard deviations
below
the category average. This places JRE in the 7th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
JRESELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| JRE (65 bp) Percentile rank | 50 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| JRE | 65.0 | 24.2 | 89.2 |
| Peer Avg. | 67.5 | 46.6 | 114.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .