Janus Henderson Tactical Income Active ETF (TACT) Review & Analysis

MER · #262 of 514AUM · Top 50%1Y Return · #222 of 4263Y Return · #229 of 3005Y Return · #157 of 225

What's new this monthData to 30 September 2026

−0.1% in September (total return), ahead of the median Australian bonds ETF at −0.4%.
Investors added a net $9.4m (2.3% of the fund).
The unit price closed the month at $49.27, 2% below its 12-month high (range $48.91 to $50.17).

About TACT

TACT is an Australian bonds ETF from Janus Henderson, listed on the TMX Australia exchange since July 2020. With $421m under management it is number 22 of 59 Australian bonds ETFs by size. The management fee is 0.45% a year, about $45 on every $10,000 invested, dearer than the typical Australian bonds ETF at 0.25%.

Over five years it has returned +3.3% a year including distributions, against +1.0% for the median Australian bonds ETF. With its focus on dividends & income, bonds & fixed income, it is the kind of fund many investors use as a smaller satellite holding alongside a diversified core.

Compare TACT Check overlap Janus Henderson website ↗

Compare TACT with

TACTvsHBRD

Betashares Australian Credit Income Active ETF

Fee	0.45%	0.55%
1 year	+3.5%	+4.4%
5 yrs p.a.	+3.3%	+4.0%
Size	$421m	$2.5bn

Same holdingsNo holdings data

Full comparison →

TACTvsFEIF

Western Asset Enhanced Income Fund – Active ETF

Fee	0.45%	0.50%
1 year	+3.5%	–
5 yrs p.a.	+3.3%	–
Size	$421m	$580m

Same holdingsNo holdings data

Full comparison →

TACTvsDIFF

Perpetual Diversified Income Active ETF

Fee	0.45%	0.59%
1 year	+3.5%	+5.2%
5 yrs p.a.	+3.3%	–
Size	$421m	$335m

Same holdingsNo holdings data

Full comparison →

TACTvsJFIX

Janus Henderson Australian Fixed Interest Active ETF

Fee	0.45%	0.38%
1 year	+3.5%	−0.4%
5 yrs p.a.	+3.3%	–
Size	$421m	$2.5m

Same holdingsNo holdings data

Full comparison →

Stock Code	TACT
Fund Manager	Janus Henderson
Asset Class	Australian bonds
AUM	$421m
MER (%)	0.45%
Net flows (Sep)	+$9.4m
Last Price	$49.27
52-Week Range	$48.91 – $50.17
Bid/Ask Spread	0.13%
Listing Date	29/07/2020
Exchange	TMX Australia
Benchmark index	Bloomberg AusBond Bank Bill Index
Issuer website	Janus Henderson ↗

Performance (% return)

1 month−0.1%

1 year+3.5%

3 years p.a.+5.2%

5 years p.a.+3.3%

$10,000 invested…

1 year ago$10,3553 years ago$11,6475 years ago$11,752

Value at 30 September 2026 with distributions reinvested, before tax and brokerage.

Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.

TACT at a glance: strengths and things to watch

👍 Strengths

Ahead of its peers. +3.3% a year over 5 years, against +1.0% for the median Australian bonds ETF.

⚠️ Things to watch

Higher fee. At 0.45% a year it costs more than 81% of Australian bonds ETFs (median 0.25%), or about $20 a year more on every $10,000.

Worked out from TACT's fees, size, flows, returns and trend against the 59 Australian bonds ETFs in Australia, to 30 September 2026. General information, not a recommendation.

etfadviserTrend check

Base since 30 Oct 2026

TACT is in a base. Here's why that matters.

TACT's moving averages are tangled and the price is moving sideways. The trend hasn't picked a direction yet.

Why it matters: Bases are where the next big move starts. A breakout can begin a new uptrend, while a breakdown can start a long fall. Buying a satellite before the breakout often means waiting months for nothing to happen.

At ETF Adviser the core of a portfolio stays invested through every stage, and satellite ETFs are only bought in an uptrend. Members get a weekly update on which ETFs are breaking out of a base and which trends have broken.

Get the weekly trend updates: try it free for 30 days How base and trend works →See every ETF's stage →Visit etfadviser.com.au →

Why no chart? Bond, cash and currency fund prices drop each time a distribution is paid, so a price chart makes them look worse than they are. Check the total returns above instead.

Investment Focus

Themes & Sectors

Dividends & income Active ETFs Bonds & fixed income

Portfolio Breakdown

Sector breakdown

Bonds & cash100.0%

Holdings from the issuer's published portfolio. Compare TACT's holdings with other ETFs →

Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.

Similar ETFs

Code	Name	Same holdings	MER	AUM	1Y	3Y p.a.	5Y p.a.
JFIX	Janus Henderson Australian Fixed Interest Active ETF Active	–	0.38%	$2.5m	−0.4%	–	–
HBRD	Betashares Australian Credit Income Active ETF Active	–	0.55%	$2.5bn	+4.4%	+5.1%	+4.0%
FEIF	Western Asset Enhanced Income Fund – Active ETF Active	–	0.50%	$580m	–	–	–
DIFF	Perpetual Diversified Income Active ETF Active	–	0.59%	$335m	+5.2%	–	–
SFIF	Seed Financial Income Fund Active ETF Active	–	0.70%	$218m	–	–	–
ICME	iShares Credit Income Active ETF Active	–	0.29%	$110m	–	–	–

Same holdings is the share of TACT's money in companies the other ETF also holds, weighted by size. No other ETF shares much with TACT, so these are ETFs in the same category. See every ETF like TACT →

TACT vs its closest alternatives

What actually differs between TACT and the ETFs most like it. Data to 30 Sep 2026.

JFIX Janus Henderson Australian Fixed Interest Active ETF

JFIX is cheaper (0.38% vs 0.45%), worth about $4,703 on $100,000 over 20 years.
Over 1 year: TACT +3.5%, JFIX −0.4% (TACT ahead by 3.9 percentage points).
TACT is much larger ($421m vs $2.5m), which usually means tighter trading spreads.

Compare TACT and JFIX side by side →

HBRD Betashares Australian Credit Income Active ETF

TACT is cheaper (0.45% vs 0.55%), worth about $6,617 on $100,000 over 20 years.
Over 3 years, a year: TACT +5.2%, HBRD +5.1% (almost identical).
HBRD is about 6 times larger ($2.5bn vs $421m), which usually means tighter trading spreads.

Full TACT vs HBRD comparison →

FEIF Western Asset Enhanced Income Fund – Active ETF

TACT is cheaper (0.45% vs 0.50%), worth about $3,323 on $100,000 over 20 years.

Full TACT vs FEIF comparison →

General information only. Past performance is not a reliable indicator of future performance.

Popular comparisons

HBRD vs TACT FEIF vs TACT TACT vs DIFF

TACT FAQs

What is the fee for TACT?

TACT charges a management fee (MER) of 0.45% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is TACT?

TACT had $421m in funds under management as at 30 September 2026.

How has TACT performed?

TACT returned +3.5% over the year to 30 September 2026 (total return, including distributions). Over three years it returned +5.2% a year. Past performance is not a reliable indicator of future performance.

Who manages TACT?

TACT is managed by Janus Henderson and has been listed since July 2020.

Disclaimer

This review is general information only and does not take into account your objectives, financial situation or needs. Consider the Janus Henderson product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.