Janus Henderson has expanded its high conviction equity ETF range with the launch of an active multi-theme exposure, ETF Stream can reveal.
The Janus Henderson Tabula US Transformational Growth Equity UCITS ETF (JTXX) is listed on the London Stock Exchange (LSE) with a total expense ratio (TER) of 0.49%.
Actively managed, JTXX holds a concentrated portfolio of 20 to 25 US stocks aligned with themes including AI, deglobalisation, healthcare innovation, digitisation and cloud migration.
JTXX is managed by Nick Schommer and Brian Recht, who also manage the Janus Henderson Transformational Growth ETF in the US.
Commenting on the launch, Nick Schommer, said: “We aim to capture tomorrow’s growth opportunities rather than yesterday’s winners. We believe that investors underappreciate the amount of risk that extreme concentration is causing in passive funds, which follow backward-looking indices and trade without regard to fundamentals.
“Our active approach provides thoughtful diversification beyond the 5-10 companies that currently dominate the index”.
High-conviction active thematic ETFs remain a niche corner of the European ETF landscape. The arrival of Cathie Wood’s ARK Invest Europe marked a headline grabbing entry into the space, launching three iterations of US-listed equivalent ETFs in April 2024.
Other ETF issuers have begun testing the waters as well. DWS and BlackRock have introduced strategies focused on green transition leaders and high-conviction AI themes.
JTXX’s launch builds on two earlier high-conviction equity launches from the US asset manager, which include the Janus Henderson Tabula Japan High Conviction Equity UCITS ETF (JCPN) and the Janus Henderson Tabula Pan European High Conviction Equity UCITS ETF (JCEU), which have amassed $7.4m and $8.9m since launching in Q4 last year.
