Josh Downs traded to Chiefs: Fantasy Football fallout for Kansas City, Tyler Warren and Daniel Jones

Indianapolis Colts wide receiver Josh Downs got his wish Tuesday, when the team traded him to the Kansas City Chiefs. Downs requested a trade on October 28, shortly after the team fired general manager Chris Ballard and traded veterans Quenton Nelson and DeForest Buckner.

Downs joins the Chiefs, bolstering a thin WR room led by Rashee Rice, where he could immediately push for snaps as a WR2 and compete with disappointing third-year Xavier Worthy for targets.

Downs leaves behind a 19% target share that will primarily be split between de facto WR1 Laquon Treadwell and tight end Tyler Warren.

Here’s what trading Josh Downs means for his fantasy value and how it affects the Colts and Downs’ remaining new teammates in Kansas City.

RELATED: Wired Mic Waiver Week 10 and FAAB Tips

Josh Downs Traded to Chiefs – The Details

The Colts were only able to convince a fourth- and fifth-round pick from the Chiefs’ services for Downs, in part because the former third-round pick is in the final year of his rookie contract.

The 5-foot-9, 171-pound receiver has shown separation skills in somewhat limited roles over the years, but he has been taken off the field too often in two-receiver sets, limiting his volume. Still, Downs’ efficiency and peak weeks in which other receivers missed time have made him a fantasy target for 2026 in overhaul and dynasty leagues.

Unfortunately, that breakthrough didn’t materialize in Indianapolis, whose average offense relied much more on Taylor and the running game, while Daniel Jones and the passing game struggled.

Could Downs’ escape still be a possibility now that he’s teamed up with Patrick Mahomes?

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Fantasy Football fallout for Josh Downs

Downs finally became a full-time player this year, finishing his tenure with the Colts with a career-high 90% completion rate. But even with Alec Pierce missing significant time and only 34-year-old Keenan Allen to compete with for wide receiver targets, the volume just hasn’t happened.

Downs has run more routes, but his efficiency has taken a big hit, with his goals per route dropping from 22% in 2025 to 17% this season. Downs’ aDOT jumped two meters, from 8.4 to 10.4, and its share of aerial works increased from 17% to 24%. And yet, his fantastic production has remained stable:

• 2025: 8.5 PPR points per game (WR57)
• 2026: 8.7 PPR points per game (WR56)

Going from an offense led by Daniel Jones to Patrick Mahomes? This is what dreams are made of.

Fantasy football fallout from Josh Downs trade

Tyler Warren | YOU

Potentially Downs’ biggest winner, Warren should feast in the short and intermediate areas, where Downs was at his best before this season’s deeper route tree slowed him down.

Warren returned in Week 8 after missing two games with a groin injury. He saw a more limited snap share than usual, but should be increased quickly. He is a great fantasy trade target and high-end TE1 for the remainder of the season..

Daniel Jones | QB

Things went from bad to worse quickly for Jones, who started the 2026 season with a bang before suffering a season-ending Achilles injury. Jones is now at the bottom of an All-Pro guard in Nelson and his top two WRs in Downs and Allen.

Jone was playing poorly with all of these guys and has an uphill battle to stay on the Colts roster in 2027. For fantasy purposes, he’s not worth drafting into a new draft, and his dynasty value is plummeting.