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Trending ETFs

JPMorgan New York Tax Free Bond Fund

mutual fund
JNYIX
Payout Change
Pending
Price as of:
$6.47 +0.0 +0.0%
primary theme
Municipal Bond
JNYIX (Mutual Fund)

JPMorgan New York Tax Free Bond Fund

Payout Change
Pending
Price as of:
$6.47 +0.0 +0.0%
primary theme
Municipal Bond
JNYIX (Mutual Fund)

JPMorgan New York Tax Free Bond Fund

Payout Change
Pending
Price as of:
$6.47 +0.0 +0.0%
primary theme
Municipal Bond

Name

As of 06/14/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.47

$374 M

3.21%

$0.21

0.70%

Vitals

YTD Return

0.2%

1 yr return

3.3%

3 Yr Avg Return

-0.4%

5 Yr Avg Return

0.8%

Net Assets

$374 M

Holdings in Top 10

21.0%

52 WEEK LOW AND HIGH

$6.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.70%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 10.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.47

$374 M

3.21%

$0.21

0.70%

JNYIX - Profile

Distributions

  • YTD Total Return 0.2%
  • 3 Yr Annualized Total Return -0.4%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.85%
DIVIDENDS
  • Dividend Yield 3.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    JPMorgan New York Tax Free Bond Fund
  • Fund Family Name
    JPMorgan Funds
  • Inception Date
    Sep 10, 2001
  • Shares Outstanding
    10348827
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Sivinski

Fund Description

As a fundamental policy, the Fund normally invests at least 80% of the value of its Assets in municipal obligations whose interest payments are excluded from gross income for federal income tax purposes and exempt from New York State and New York City personal income taxes, and not subject to the federal alternative minimum tax on individuals. “Assets” means net assets, plus the amount of borrowings for investment purposes.The Fund may invest in municipal obligations issued by the State of New York, New York City, their political subdivisions, as well as Puerto Rico, other U.S. territories and their political subdivisions.Under normal circumstances, the Fund reserves the right to invest up to 20% of its Assets in securities that pay interest subject to federal income tax, the federal alternative minimum tax on individuals or New York State and New York City personal income taxes. To defend the value of its assets during unusual market conditions, the Fund may temporarily exceed this limit.There may be times when there are not enough municipal obligations available to meet the Fund’s needs. On these occasions, the Fund may invest in repurchase agreements or U.S. Treasury securities that may be subject to federal income tax.The Fund may invest in debt securities issued by governmental entities, certain issuers identified with the U.S. government and private issuers. The Fund may invest in municipal mortgage-backed and asset-backed securities. The Fund may invest a significant portion or all of its assets in municipal mortgage-backed securities at the adviser’s discretion.The Fund may invest up to 20% of its total assets in securities rated below investment grade. Such securities are known as “junk bonds,” “high yield bonds” and “non-investment grade bonds.” Junk bonds also include unrated securities that the adviser believes to be of comparable quality to debt securities that are rated below investment grade. These securities generally are rated in the fifth or lower rating categories (for example, BB+ or lower by S&P and Ba1 or lower by Moody’s). These securities generally offer a higher yield than investment grade securities, but involve a high degree of risk. A security’s quality is determined at the time of purchase and securities that are rated investment grade or the unrated equivalent may be downgraded or decline in credit quality, such that, following the time of purchase, they would be deemed to be below investment grade. If the quality of an investment grade security is downgraded subsequent to purchase to below investment grade, the Fund may continue to hold the security.The Fund may also invest in high-quality, short-term money market instruments and repurchase agreements.The Fund may also invest in zero-coupon securities and forward commitments.The average weighted maturity of the Fund’s portfolio will be between three and twelve years. Average weighted maturity is the average of all the current maturities (that is, the term of the securities) of the individual bonds in a Fund calculated so as to count most heavily those securities with the highest dollar value. Average weighted maturity is important to investors as an indication of a Fund’s sensitivity to changes in interest rates. Usually, the longer the average weighted maturity, the more fluctuation in share price you can expect.Investment Process: The adviser buys and sells securities and investments for the Fund based on its view of individual securities and market sectors. Taking a long-term approach, the adviser looks for individual fixed income investments that it believes will perform well over market cycles. The adviser is value oriented and makes decisions to purchase and sell individual securities and instruments after performing a risk/reward analysis that includes an evaluation of interest rate risk, credit risk, duration, liquidity and the complex legal and technical structure of the transaction. As part of its investment process, the adviser seeks to assess the impact of environmental, social and governance (ESG) factors on certain issuers in the universe in which the Fund may invest. The adviser’s assessment is based on an analysis of key opportunities and risks across industries to seek to identify financially material issues with respect to the Fund’s investments in municipal issues and ascertain key issues that merit engagement with municipal issuers. These assessments may not be conclusive and securities that may be negatively impacted by such factors may be purchased and retained by the Fund while the Fund may divest or not invest in securities that may be positively impacted by such factors.
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JNYIX - Performance

Return Ranking - Trailing

Period JNYIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -2.9% 17.0% 76.41%
1 Yr 3.3% -1.4% 29.0% 74.32%
3 Yr -0.4%* -11.1% 2.9% 22.09%
5 Yr 0.8%* -6.3% 1102.2% 51.11%
10 Yr 1.6%* -0.5% 248.4% 60.25%

* Annualized

Return Ranking - Calendar

Period JNYIX Return Category Return Low Category Return High Rank in Category (%)
2023 2.0% -1.4% 41.0% 73.03%
2022 -8.0% -39.7% 0.3% 20.61%
2021 -1.1% -5.6% 6.9% 79.52%
2020 1.6% -2.6% 310.0% 55.95%
2019 3.6% 0.0% 26.0% 58.45%

Total Return Ranking - Trailing

Period JNYIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -2.9% 17.0% 76.41%
1 Yr 3.3% -1.4% 29.0% 74.32%
3 Yr -0.4%* -11.1% 2.9% 22.09%
5 Yr 0.8%* -6.3% 1102.2% 51.11%
10 Yr 1.6%* -0.5% 248.4% 60.25%

* Annualized

Total Return Ranking - Calendar

Period JNYIX Return Category Return Low Category Return High Rank in Category (%)
2023 4.8% -1.3% 41.0% 68.47%
2022 -6.0% -39.7% 1.1% 18.36%
2021 0.7% -4.8% 23761504.0% 71.28%
2020 3.6% -1.5% 17057.9% 56.29%
2019 4.9% 0.2% 3514.6% 80.38%

NAV & Total Return History


JNYIX - Holdings

Concentration Analysis

JNYIX Category Low Category High JNYIX % Rank
Net Assets 374 M 3.22 M 71.9 B 54.16%
Number of Holdings 168 2 13067 67.64%
Net Assets in Top 10 78.5 M -317 M 3.56 B 50.68%
Weighting of Top 10 21.00% 2.0% 100.2% 36.67%

Top 10 Holdings

  1. JPMorgan Institutional Tax Free Money Market Fund, Class IM 7.17%
  2. Utility Debt Securitization Authority, Series 2023 TE-1 3.27%
  3. New York State Thruway Authority, Personal Income Tax, Series 2022A 1.51%
  4. New York State Dormitory Authority, Court Facilities Lease, Series 2005A 1.41%
  5. New York State Dormitory Authority, State Sales Tax, Series 2015 B 1.37%
  6. New York State Urban Development Corp., State Personal Income Tax, State Facilities and Equipment, Series A-2 1.37%
  7. New York State Urban Development Corp., Sales Tax, Series 2021 A 1.33%
  8. New York City Transitional Finance Authority, Future Tax Secured, Series 2022B-1 1.22%
  9. New York City Transitional Finance Authority, Building Aid, Fiscal Year 2018, Series 2018S-4A 1.18%
  10. New York City Transitional Finance Authority, Building Aid, Fiscal Year 2019, Series 2019S-3A 1.17%

Asset Allocation

Weighting Return Low Return High JNYIX % Rank
Bonds
92.01% 0.00% 150.86% 95.45%
Cash
8.05% -50.86% 46.80% 3.64%
Stocks
0.00% 0.00% 99.81% 25.58%
Preferred Stocks
0.00% 0.00% 0.56% 16.50%
Other
0.00% -3.18% 33.35% 28.07%
Convertible Bonds
0.00% 0.00% 0.93% 16.44%

Bond Sector Breakdown

Weighting Return Low Return High JNYIX % Rank
Municipal
97.42% 44.39% 100.00% 62.10%
Cash & Equivalents
8.05% 0.00% 46.24% 3.05%
Derivative
0.00% -3.18% 19.67% 22.68%
Securitized
0.00% 0.00% 5.93% 17.29%
Corporate
0.00% 0.00% 9.41% 31.83%
Government
0.00% 0.00% 52.02% 23.61%

Bond Geographic Breakdown

Weighting Return Low Return High JNYIX % Rank
US
92.01% 0.00% 142.23% 95.06%
Non US
0.00% 0.00% 23.89% 21.18%

JNYIX - Expenses

Operational Fees

JNYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.70% 0.01% 20.65% 53.84%
Management Fee 0.30% 0.00% 1.20% 15.26%
12b-1 Fee N/A 0.00% 1.00% 35.50%
Administrative Fee 0.08% 0.01% 0.44% 19.51%

Sales Fees

JNYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

JNYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

JNYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 10.00% 0.00% 283.00% 20.00%

JNYIX - Distributions

Dividend Yield Analysis

JNYIX Category Low Category High JNYIX % Rank
Dividend Yield 3.21% 0.00% 14.51% 48.90%

Dividend Distribution Analysis

JNYIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

JNYIX Category Low Category High JNYIX % Rank
Net Income Ratio 1.85% -0.53% 5.33% 54.83%

Capital Gain Distribution Analysis

JNYIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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JNYIX - Fund Manager Analysis

Managers

David Sivinski


Start Date

Tenure

Tenure Rank

Mar 31, 2005

17.18

17.2%

David Sivinski, CFA charterholder and Executive Director, has also been as portfolio manager with J.P. Morgan Investment Management. In addition to his role as portfolio manager, Mr. Sivinski coordinates municipal management for a number of high net worth clients that focus principally on single state municipal bonds. He has worked at JPMorgan Investment Advisors, an affiliate of JPMIM since 1992. Previously, he spent seven years as a first vice president with First Security National Bank in Lexington, Kentucky, and 10 years with Bank One in Columbus, Ohio. Sivinski holds the Chartered Financial Analyst designation.

Kevin Ellis


Start Date

Tenure

Tenure Rank

May 31, 2005

17.01

17.0%

Mr. Ellis, CFA charterholder and Executive Director, is a portfolio manager in the U.S. Fixed Income Group. An employee of JPMIM and/or its affiliates since May 2003, he is responsible for managing separate accounts in the Municipal Bond Group. Previously, Mr. Ellis worked at Alliance Capital/Sanford Bernstein from 1995 through 2003 as a municipal bond trader. Kevin holds a B.S. in business administration from Boston University and is a CFA charterholder

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58