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Trending ETFs

JPMorgan Short Duration Core Plus Fund

mutual fund
JSDRX
Payout Change
Pending
Price as of:
$9.17 +0.0 +0.0%
primary theme
U.S. Short-Term Bond Duration
JSDRX (Mutual Fund)

JPMorgan Short Duration Core Plus Fund

Payout Change
Pending
Price as of:
$9.17 +0.0 +0.0%
primary theme
U.S. Short-Term Bond Duration
JSDRX (Mutual Fund)

JPMorgan Short Duration Core Plus Fund

Payout Change
Pending
Price as of:
$9.17 +0.0 +0.0%
primary theme
U.S. Short-Term Bond Duration

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

$9.17

$3.74 B

4.05%

$0.37

0.37%

Vitals

YTD Return

1.8%

1 yr return

6.2%

3 Yr Avg Return

0.5%

5 Yr Avg Return

1.9%

Net Assets

$3.74 B

Holdings in Top 10

19.5%

52 WEEK LOW AND HIGH

$9.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.37%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 129.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$15,000,000

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

$9.17

$3.74 B

4.05%

$0.37

0.37%

JSDRX - Profile

Distributions

  • YTD Total Return 1.8%
  • 3 Yr Annualized Total Return 0.5%
  • 5 Yr Annualized Total Return 1.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.58%
DIVIDENDS
  • Dividend Yield 4.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    JPMorgan Short Duration Core Plus Fund
  • Fund Family Name
    JPMorgan Funds
  • Inception Date
    Mar 01, 2013
  • Shares Outstanding
    234724944
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Cary Fitzgerald

Fund Description

Consistent with the Fund’s dual objective of seeking total return and preservation of capital, the Fund uses a multi-sector strategy in order to create a diversified portfolio that generates total return while managing risk. The Fund principally invests in traditional fixed income sectors (for example, investment grade corporate bonds), while also having the flexibility to allocate its assets to extended sectors such as below investment grade securities (also known as high yield or junk bonds) and foreign and emerging markets debt. The Fund may invest in corporate bonds, U.S. treasury obligations and other U.S. government and agency securities, asset-backed, mortgage-related and mortgage-backed securities, mortgage TBAs, private placements, restricted securities and other unregistered securities, and variable and floating rate instruments. Under normal conditions, at least 70% of the Fund’s net assets must be invested in securities that, at the time of purchase, are rated investment grade by a nationally recognized statistical rating organization (NRSRO) or in securities that are unrated but are deemed by the adviser to be of comparable quality. The Fund will not invest more than 30% of its net assets in below investment grade securities (or the unrated equivalent) under normal conditions. Up to 25% of the Fund’s net assets may be invested in foreign securities including sovereign and agency debt.The Fund seeks to maintain a duration of three years or less, although under certain market conditions such as in periods of significant volatility in interest rates and spreads, the Fund’s duration may be longer than three years. Duration is a measure of price sensitivity of a debt security or a portfolio of debt securities to relative changes in interest rates. For instance, a duration of “three years” means that a security’s or portfolio’s price would be expected to decrease by approximately 3% with a 1% increase in interest rates (assuming a parallel shift in yield curve).The Fund may invest across the full range of market sectors. As of the date of this prospectus, ranges for certain broad market sectors are as follows. The Fund may change these ranges if the Fund’s adviser, J.P. Morgan Investment Inc. determines in its discretion that the market environment has significantly changed.Market SectorMinMaxU.S. Treasury & Agency10%50%U.S. Agency Residential Mortgage-Backed Securities10%30%Asset-Backed Securities0%20%Commercial Mortgage-Backed Securities0%20%Investment Grade Corporate Debt Securities20%50%High Yield Corporate Debt0%20%Emerging Markets Debt0%15%The adviser will invest across the credit spectrum to provide the Fund exposure to various credit rating categories. Under normal conditions, at least 70% of the Fund’s net assets must be invested in securities that, at the time of purchase, are rated investment grade by a NRSRO or in securities that are unrated but are deemed by the adviser to be of comparable quality. The balance of the Fund’s assets are not required to meet any minimum quality rating although the Fund will not, under normal conditions, invest more than 30% of its net assets in below investment grade securities (or the unrated equivalent). Such securities may include so called “distressed debt”. Distressed debt includes securities of issuers experiencing financial or operating difficulties, securities where the issuer has defaulted in the payment of interest or principal or in the performance of its covenants or agreements, securities of issuers that may be involved in bankruptcy proceedings, reorganizations or financial restructurings or securities of issuers operating in troubled industries.Up to 25% of the Fund’s net assets may be invested in foreign securities. Foreign securities include securities issued by foreign governments or their agencies and instrumentalities and companies that are incorporated outside the United States, including securities from issuers in countries whose economies are less developed (emerging markets), but do not include collateralized loan obligations (CLOs) that are denominated in U.S. dollars. Such investments may include below investment grade securities or the unrated equivalent subject to the limitations on below investment grade securities described above. The Fund’s investments may include securities denominated in foreign currencies. Currently, the Fund anticipates at least 85% of the Fund’s net assets will be denominated in U.S. dollars or hedged back to U.S. dollars. However, from time to time, the Fund may have greater exposure to non-U.S. dollar investments to take advantage of market conditions.The Fund may invest a significant portion of its assets in mortgage-related and mortgage-backed securities at the adviser’s discretion. Mortgage-related and mortgage-backed securities may be structured as collateralized mortgage obligations (agency and non-agency), stripped mortgage-backed securities (interest-only or principal-only), commercial mortgage-backed securities, and mortgage pass-through securities. The Fund expects to invest no more than 25% of its assets in “sub-prime” mortgage-related securities at the time of purchase. The Fund may also enter into “dollar rolls” in which the Fund sells mortgage-backed securities and at the same time contracts to buy back very similar securities on a future date.In addition to direct investments in securities, derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund may use futures contracts, options, swaps and forward contracts as tools in the management of portfolio assets. The Fund may use derivatives to hedge various investments, for risk management and/or to increase income or gain to the Fund. In addition to the mortgage dollar rolls as described above, the Fund may utilize other relative value strategies involving credit derivatives on a single security or instrument or on indices of securities or instruments, combinations of derivatives, and combinations of derivatives and fixed income securities. The Fund may also utilize foreign currency derivatives such as currency forwards to hedge its non-dollar investments back to the U.S. dollar or use such derivatives to gain or adjust exposure to particular foreign securities, markets or currencies.The adviser uses both a top down and bottom up research process as well as a combination of fundamental and quantitative inputs to allocate the Fund’s assets among a range of sectors. In buying and selling investments for the Fund, the adviser looks for market sectors and individual securities that it believes will perform well over time. The adviser selects individual securities after performing a risk/reward analysis to address the Fund’s dual objective of seeking total return and preservation of capital. Such analysis includes an evaluation of interest rate risk, credit risk, duration, liquidity, currency risk, legal provisions and the structure of the transaction. Generally, the adviser will sell a security when, based on fundamental credit analysis and the considerations described above, the adviser believes the issuer’s credit quality or the investment’s valuation will materially deteriorate or when the adviser believes that there is better relative value available in the market in other investments. As part of its investment process, the adviser seeks to assess the impact of environmental, social and governance (ESG) factors on certain issuers or countries 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 issuers and ascertain key issues that merit engagement with issuers. These assessments may not be conclusive and securities of issuers or countries 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 of issuers or countries that may be positively impacted by such factors.
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JSDRX - Performance

Return Ranking - Trailing

Period JSDRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -85.4% 12.9% 50.37%
1 Yr 6.2% -84.9% 23.7% 28.20%
3 Yr 0.5%* -47.2% 4.4% 46.68%
5 Yr 1.9%* -31.1% 4.8% 27.44%
10 Yr 2.5%* -19.2% 169.9% 4.96%

* Annualized

Return Ranking - Calendar

Period JSDRX Return Category Return Low Category Return High Rank in Category (%)
2023 2.7% -1.6% 7.6% 23.23%
2022 -8.2% -17.7% -2.6% 78.07%
2021 -1.6% -4.0% 4.4% 53.32%
2020 2.6% -7.1% 7.6% 29.74%
2019 3.2% -2.3% 9.3% 16.91%

Total Return Ranking - Trailing

Period JSDRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -85.4% 12.9% 50.37%
1 Yr 6.2% -84.9% 23.7% 28.20%
3 Yr 0.5%* -47.2% 4.4% 46.68%
5 Yr 1.9%* -31.1% 4.8% 27.44%
10 Yr 2.5%* -19.2% 169.9% 4.96%

* Annualized

Total Return Ranking - Calendar

Period JSDRX Return Category Return Low Category Return High Rank in Category (%)
2023 6.3% 1.8% 15.2% 28.25%
2022 -5.9% -17.3% -1.3% 74.86%
2021 0.3% -2.7% 7.7% 37.11%
2020 5.2% -2.4% 14.5% 24.95%
2019 6.1% 0.6% 12.6% 14.85%

NAV & Total Return History


JSDRX - Holdings

Concentration Analysis

JSDRX Category Low Category High JSDRX % Rank
Net Assets 3.74 B 14.5 K 57.3 B 22.96%
Number of Holdings 824 2 9251 22.22%
Net Assets in Top 10 729 M 993 K 6.33 B 28.70%
Weighting of Top 10 19.47% 2.1% 103.0% 66.48%

Top 10 Holdings

  1. U.S. Treasury Notes 4.72%
  2. U.S. Treasury Notes 3.78%
  3. JPMorgan Prime Money Market Fund, Class IM 2.26%
  4. U.S. Treasury Notes 1.57%
  5. FNMA, REMIC, Series 2022-42, Class EA 1.55%
  6. U.S. Treasury Notes 1.43%
  7. U.S. Treasury Notes 1.32%
  8. FHLMC UMBS, 30 Year 1.01%
  9. U.S. Treasury Notes 0.97%
  10. FHLMC, REMIC, Series 5194, Class H 0.88%

Asset Allocation

Weighting Return Low Return High JSDRX % Rank
Bonds
80.17% 0.00% 131.18% 67.96%
Other
16.58% -0.97% 69.02% 22.04%
Convertible Bonds
6.17% 0.00% 27.71% 8.16%
Cash
3.21% -20.59% 55.85% 46.11%
Stocks
0.02% 0.00% 99.97% 20.74%
Preferred Stocks
0.01% 0.00% 22.27% 17.04%

Stock Sector Breakdown

Weighting Return Low Return High JSDRX % Rank
Energy
89.26% 0.00% 100.00% 30.00%
Communication Services
10.74% 0.00% 65.64% 21.67%
Utilities
0.00% 0.00% 81.48% 26.67%
Technology
0.00% 0.00% 24.45% 28.33%
Real Estate
0.00% 0.00% 8.31% 31.67%
Industrials
0.00% 0.00% 100.00% 31.67%
Healthcare
0.00% 0.00% 23.11% 25.00%
Financial Services
0.00% 0.00% 100.00% 53.33%
Consumer Defense
0.00% 0.00% 21.37% 21.67%
Consumer Cyclical
0.00% 0.00% 10.75% 26.67%
Basic Materials
0.00% 0.00% 22.71% 25.00%

Stock Geographic Breakdown

Weighting Return Low Return High JSDRX % Rank
US
0.02% 0.00% 99.97% 20.74%
Non US
0.00% 0.00% 0.01% 8.33%

Bond Sector Breakdown

Weighting Return Low Return High JSDRX % Rank
Corporate
35.01% 0.00% 100.00% 56.77%
Securitized
34.86% 0.00% 97.27% 27.83%
Government
15.64% 0.00% 73.63% 55.84%
Cash & Equivalents
2.50% 0.00% 55.85% 48.52%
Municipal
0.04% 0.00% 17.46% 49.35%
Derivative
-0.05% -0.33% 28.01% 81.67%

Bond Geographic Breakdown

Weighting Return Low Return High JSDRX % Rank
US
80.17% 0.00% 130.36% 66.30%
Non US
0.00% 0.00% 82.77% 23.33%

JSDRX - Expenses

Operational Fees

JSDRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.37% 0.01% 3.24% 82.53%
Management Fee 0.25% 0.00% 1.19% 25.00%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.01% 0.41% 43.75%

Sales Fees

JSDRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.50% 4.00% N/A

Trading Fees

JSDRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

JSDRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 129.00% 2.00% 500.00% 73.00%

JSDRX - Distributions

Dividend Yield Analysis

JSDRX Category Low Category High JSDRX % Rank
Dividend Yield 4.05% 0.00% 11.11% 59.44%

Dividend Distribution Analysis

JSDRX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

JSDRX Category Low Category High JSDRX % Rank
Net Income Ratio 1.58% -1.27% 4.98% 23.30%

Capital Gain Distribution Analysis

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

Distributions History

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JSDRX - Fund Manager Analysis

Managers

Cary Fitzgerald


Start Date

Tenure

Tenure Rank

Sep 29, 2017

4.67

4.7%

Cary Fitzgerald, managing director, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group. Based in New York, Cary is the head of the Short Duration Team which is responsible for multi-sector investment strategies including short-core, short-core plus, short-custom solutions, and stable value. An employee since 2000, Cary previously worked on the Fixed Income Client Portfolio Management Team in the Private Bank and as an analyst within the Internal Consulting Services (ICS) Leadership Development Program. Cary holds a B.B.A. from the College of William and Mary.

Steven Lear


Start Date

Tenure

Tenure Rank

Sep 29, 2017

4.67

4.7%

Mr. Lear is the U.S. Chief Investment Officer within the GFICC group. An employee since 2008. Mr. Lear is responsible for overseeing fixed income investment strategies in the U.S., including core plus, insurance, liability-driven investing and stable value.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.18 2.41