Janus Henderson Securitized Income ETF Expense Limitation Agreement (Affiliated ETFs)
Exhibit (h)(9)
Xxxxx Xxxxxxxxx Securitized Income ETF
Expense Limitation Agreement (Affiliated ETFs)
October 19, 2023
000 Xxxxxxx Xxxxxx
Denver, Colorado 80206
Ladies and Gentlemen:
As you know, Section 5 of our Investment Advisory Agreement provides for compensation payable to Xxxxx Xxxxxxxxx Investors US LLC (“Adviser”) with respect to Xxxxx Xxxxxxxxx Securitized Income ETF (the “Fund”). This letter is to inform you that the Adviser will waive and/or reimburse to the Fund a portion of its management fee in an amount equal to a portion of the management fee it earns as investment adviser to affiliated exchange traded funds (“Affiliated ETFs”) in which the Fund (if any), for at least the period from November 8, 2023 until March 1, 2025, set forth as follows:
| 1. | With respect to each investment by the Fund in an Affiliated ETF, the waiver/reimbursement amount shall be equal to the amount of Fund assets invested in the Affiliated ETF, multiplied by an amount equal to the current daily unitary management fee of the Affiliated ETF less certain asset-based operating fees and expenses incurred on a per-fund basis and paid by the Adviser with respect to the Affiliated ETF (such expenses include, but are not limited to: custody, sub-administration, and transfer agency fees and fees paid to the distributor) (“Waiver Amount”). |
| 2. | The Waiver Amount shall be calculated by the Adviser on a monthly basis and used daily for purposes of calculating the Fund’s net asset value per share. |
For the avoidance of doubt, the Adviser may not recover from the Fund amounts previously waived pursuant to this Agreement.
This waiver/reimbursement will continue in effect until February 28, 2025, unless otherwise terminated, revised or extended by the Board of Trustees. This waiver/reimbursement may be terminated at any time by the Trustees of the Trust, and may be amended only if such amendment is approved by the Trustees of the Trust.
| XXXXX XXXXXXXXX INVESTORS US LLC |
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| By: /s/Xxxxxxx Xxxxxx |
By: /s/Xxxxxx Xxxxxxxx | |
| Xxxxxxx Xxxxxx Chief Accounting Officer and Treasurer |
Xxxxxx Xxxxxxxx Vice President, Chief Financial Officer, Treasurer and Principal Accounting Officer | |
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Xxxxx Xxxxxxxxx Investors 000 Xxxxxxx Xx, Xxxxxx XX 00000
xxxxxxxxxxxxxx.xxx |
