The Fund Grade · free · no account needed
What grade does JMCVX get?
Morningstar rates funds on what they returned. We grade them on where their money sits today: how much of the book overlaps with the converged buys of the top specialist stock pickers.
Fundprints Fund Grade · as of 2026-09-01
Janus Henderson Mid Cap Value Fund - T Shares
#291 of 440 graded active funds · value · mid segment peer group
The point · specialist footprint
JMCVX puts less of its book behind proven specialists than 84% of graded funds.
● Bottom 20%
Bottom 40%
Middle
Top 40%
Top 20%
That has mattered: over the past 2.7 years, funds with this little specialist backing trailed top-rung funds by about 3.8 points per quarter and beat the S&P in only 22% of fund-quarters. If it also charges an active fee, the higher-graded alternatives deserve a look.
2,825 graded funds · 2.7 years of filings, measured as they were published · evidence, not advice
3 funds in the same segment carry an A — members see the names and what they charge. See the alternatives →
The grade scores this fund's specialist share — the slice that overlaps what the top 1% of proven funds are building. We ignore index ballast and names outside our edge on purpose: that slice is small, and it's what decides the outcome.
Conviction exposure
1.4%
of the book in specialist-converged names
Late-stage weight
35.4%
of the book in Crowded or Fading names
Active share
95.5%
how far it strays from the index
The best grades have beaten the worst by about +5% a year since we began grading. The gap held in 9 out of 10 months. Measured on filings as they were published, no hindsight.
Inside the book — top names by stage · as of 2026-09-09
We email you the day it crosses 50% crowded, and where you stand every month.
Graded monthly from point-in-time filings. A description of where the money sits, not a recommendation. Evidence, not advice.
The read · what to do with it
JMCVX earns a C grade, ranking 291 of 440, with specialist ownership at just 1.4 percent and 35.4 percent of the portfolio sitting in late-stage positions. Specialists are actively leaving LHX, HIG, AXS, and LAZ. The early bright spots are LNT, ADC, and PPL, but they are small offsets against a crowded and fading core.
→ Watch the combined 7.1 percent weight in fading positions like LHX and HIG, as specialist exits there argue for closer monitoring.
→ Three higher-graded funds exist in this same segment and the same fund family has better-graded options, worth a direct comparison.
Support leaving these positions
Same family, higher grade
Read from today's disclosed book. Evidence, not advice.
The evidence base updates this week.
The specialists — not the whales — are already positioned for what comes next. Stop finding out last.
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