Expense Limitation Agreement (General)

Exhibit (h)(4)

Expense Limitation Agreement (General)

January 19, 2023

Janus Detroit Street Trust

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”) in the form of a unitary fee with respect to Xxxxx Xxxxxxxxx Short Duration Income ETF (the “Fund”). This letter is to inform you that the Adviser will waive all or a portion of its unitary management fee for the Fund, from February 28, 2023 until February 29, 2024, under the following conditions:

In the event the operating expenses of the Fund, including the amount payable to the Adviser pursuant to Section 5 of the Investment Advisory Agreement, during the period February 28, 2023 through February 29, 2024, exceed 0.23% of average daily net assets (including as the result of a reduction in the Fund’s asset levels causing the blended unitary fee rate to increase), the Adviser shall reduce its fee payable with respect to the Fund by the extent of such excess, and/or shall reimburse the Fund by the amount of such excess, provided that there shall be excluded from such expenses distribution fees (if any), brokerage expenses or commissions, interest, dividends, taxes, litigation expenses, acquired fund fees and expenses (if any), and other extraordinary expenses not incurred in the ordinary course of the Fund’s business (including, but not limited to, legal claims and liabilities and litigation costs, and any indemnification related thereto), paid or payable by the Fund.

For the avoidance of doubt, the Adviser may not recover from the Fund fees and expenses previously waived or reimbursed.

This waiver/reimbursement will continue in effect until February 29, 2024, unless otherwise terminated, revised or extended. 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						JANUS DETROIT STREET TRUST
By:		/s/ Xxxxxxx Xxxxxx				By:		/s/ Xxxxxx Xxxxxxxx
Xxxxxxx Xxxxxx						Xxxxxx Xxxxxxxx
Chief Accounting Officer and Treasurer						Vice President, Chief Financial Officer, Treasurer and Principal Accounting Officer

Xxxxx Xxxxxxxxx Investors

000 Xxxxxxx Xx, Xxxxxx XX 00000

xxxxxxxxxxxxxx.xxx