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Name

As of 02/15/2023

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

JPMorgan Core Focus SMA Fund

JCKUX | Fund

$9.16

$20.9 M

3.48%

$0.32

-

Vitals

YTD Return

1.0%

1 yr return

-7.1%

3 Yr Avg Return

-4.7%

5 Yr Avg Return

N/A

Net Assets

$20.9 M

Holdings in Top 10

19.4%

52 WEEK LOW AND HIGH

$9.2
$8.90
$9.97

Expenses

OPERATING FEES

Expense Ratio N/A

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 02/15/2023

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

JPMorgan Core Focus SMA Fund

JCKUX | Fund

$9.16

$20.9 M

3.48%

$0.32

-

JCKUX - Profile

Distributions

  • YTD Total Return 1.0%
  • 3 Yr Annualized Total Return -4.7%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.39%
DIVIDENDS
  • Dividend Yield 3.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    JPMorgan Core Focus SMA Fund
  • Fund Family Name
    J.P. Morgan
  • Inception Date
    Mar 01, 2018
  • Shares Outstanding
    2207955
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Stephen Deibel

Fund Description

The Fund is designed to maximize total return by investing in a portfolio of investment grade debt securities. The Fund is offered as a component of the JPMorgan Core Bond SMA Managed Account Strategy (“SMA Strategy”) to participants in separately managed account (SMA) programs. The SMA Strategy consists of a separately managed account that holds both the Fund and other securities and investments directly for the SMA clients. As a result, the Fund will not hold all of the core bond investments of the SMA Strategy but rather will invest in certain securities and investments that can be traded more efficiently if held by an investment company rather than directly. Since the Fund will be used as part of a SMA Strategy, it is not intended to be a stand-alone core bond investment strategy.As part of its main investment strategy, the Fund principally invests in corporate bonds, U.S. government and agency securities, and asset-backed, mortgage-related and mortgage-backed securities. Mortgage-related and mortgage-backed securities may be structured as collateralized mortgage obligations (agency and non-agency), stripped mortgage-backed securities, commercial mortgage-backed securities, mortgage pass-through securities and cash and cash equivalents. These securities may be structured such that payments consist of interest-only (IO), principal-only (PO) or principal and interest.While the Fund’s investments may be of any maturity, the Fund’s average weighted maturity will ordinarily range between two and 12 years. The Fund may have a longer or shorter average weighted maturity under certain market conditions and the Fund may shorten or lengthen its average weighted maturity if deemed appropriate for temporary defensive purposes. Because of the Fund’s holdings in asset-backed, mortgage-related, mortgage-backed and other structured securities, the Fund’s average weighted maturity is equivalent to the average weighted maturity of the cash flows in the securities held by the Fund given certain prepayment assumptions (also known as weighted average life).Securities will be rated investment grade (or unrated but deemed by the adviser to be of comparable quality to investment grade securities) at the time of purchase. In addition, all securities will be U.S. dollar-denominated although they may be issued by a foreign issuer or a U.S. affiliate of a foreign issuer. The adviser may invest a significant portion or all of its assets in mortgage-related and mortgage-backed securities in the adviser’s discretion. The Fund may invest up to 25% of its assets in “sub-prime” mortgage-related securities determined at the time of purchase.The adviser manages the Fund as two separate sleeves with one sleeve consisting of credit securities such as corporate bonds and debt securities (credit sleeve) and the other sleeve consisting of structured instruments such as asset-backed securities, mortgage-related and mortgage-backed securities (structured sleeve). The adviser allocates the Fund’s assets between the sleeves based on its view of the relative value of investments and the investments held directly in the separately managed accounts. The adviser buys and sells securities and investments for each sleeve 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, legal provisions and the structure of the transaction. As part of its security selection process, the adviser seeks to assess the impact of environmental, social and governance factorson 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 identify financially material issues on 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 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 that may be positively impacted by such factors.
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JCKUX - Performance

Return Ranking - Trailing

Period JCKUX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.0% -50.1% 6.9% 14.36%
1 Yr -7.1% -25.7% 807.9% 3.90%
3 Yr -4.7%* -13.7% 102.9% 20.70%
5 Yr N/A* -9.8% 55.2% N/A
10 Yr N/A* -7.4% 12.3% N/A

* Annualized

Return Ranking - Calendar

Period JCKUX Return Category Return Low Category Return High Rank in Category (%)
2023 -11.1% -75.2% 1360.6% 5.75%
2022 -1.8% -14.5% 1027.9% 59.59%
2021 0.7% -9.6% 118.7% 83.67%
2020 0.9% -11.4% 5.8% 83.28%
2019 N/A -49.5% 12.4% N/A

Total Return Ranking - Trailing

Period JCKUX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.0% -50.1% 6.9% 14.91%
1 Yr -7.1% -25.7% 807.9% 3.90%
3 Yr -4.7%* -13.7% 102.9% 20.80%
5 Yr N/A* -9.8% 55.2% N/A
10 Yr N/A* -7.4% 13.1% N/A

* Annualized

Total Return Ranking - Calendar

Period JCKUX Return Category Return Low Category Return High Rank in Category (%)
2023 -11.1% -75.2% 131.9% 5.75%
2022 -1.8% -14.5% 1027.9% 59.49%
2021 0.7% -9.6% 118.7% 83.67%
2020 1.1% -11.4% 5.8% 78.44%
2019 N/A -7.0% 12.4% N/A

NAV & Total Return History

JCKUX - Holdings

Concentration Analysis

JCKUX Category Low Category High JCKUX % Rank
Net Assets 20.9 M 1.19 M 287 B 97.43%
Number of Holdings 372 1 17234 70.14%
Net Assets in Top 10 4.1 M -106 M 27.6 B 94.93%
Weighting of Top 10 19.42% 3.7% 100.0% 67.83%

Top 10 Holdings

  1. JP Morgan Prime Money Market C 4.94%
  2. United States Treasury Notes 0.5% 3.65%
  3. FLAGSHIP CREDIT AUTO TRUST 2.24% 2.34%
  4. Federal National Mortgage Association 2.82% 1.97%
  5. SANTANDER CONSUMER AUTO RECEIVABLES TRUST 3.71% 1.89%
  6. DRIVE AUTO RECEIVABLES TRUST 2.7% 1.88%
  7. Federal National Mortgage Association 5% 1.54%
  8. ALIGNED DATA CENTERS ISSUER LLC 1.937% 1.41%
  9. Federal National Mortgage Association 4% 1.40%
  10. Federal National Mortgage Association 4.5% 1.38%

Asset Allocation

Weighting Return Low Return High JCKUX % Rank
Bonds 		95.06% 3.97% 268.18% 52.21%
Cash 		4.94% -181.13% 95.99% 30.77%
Stocks 		0.00% -0.98% 24.74% 49.68%
Preferred Stocks 		0.00% 0.00% 77.13% 51.67%
Other 		0.00% -13.23% 23.06% 33.21%
Convertible Bonds 		0.00% 0.00% 10.39% 90.95%

Bond Sector Breakdown

Weighting Return Low Return High JCKUX % Rank
Securitized 		72.02% 0.00% 98.79% 5.16%
Corporate 		23.03% 0.00% 100.00% 75.75%
Cash & Equivalents 		4.94% 0.00% 95.99% 43.53%
Derivative 		0.00% 0.00% 25.16% 51.95%
Municipal 		0.00% 0.00% 100.00% 80.81%
Government 		0.00% 0.00% 86.23% 97.10%

Bond Geographic Breakdown

Weighting Return Low Return High JCKUX % Rank
US 		91.13% 3.63% 210.09% 28.78%
Non US 		3.93% -6.54% 58.09% 81.72%

JCKUX - Expenses

Operational Fees

JCKUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio N/A 0.01% 2.93% 48.12%
Management Fee 0.00% 0.00% 1.76% 0.74%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.01% 0.50% 37.85%

Sales Fees

JCKUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

JCKUX 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.

JCKUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 493.39% 4.33%

JCKUX - Distributions

Dividend Yield Analysis

JCKUX Category Low Category High JCKUX % Rank
Dividend Yield 3.48% 0.00% 43.81% 28.16%

Dividend Distribution Analysis

JCKUX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

JCKUX Category Low Category High JCKUX % Rank
Net Income Ratio 2.39% -1.28% 8.97% 13.01%

Capital Gain Distribution Analysis

JCKUX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

JCKUX - Fund Manager Analysis

Managers

Stephen Deibel

Start Date

Tenure

Tenure Rank

Mar 01, 2018

4.25

4.3%

Stephen Deibel, managing director, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group. Based in Columbus, Steve is the Head of the Global Mid-Institutional & Wealth team and is a portfolio manager for the U.S. Value Driven team, responsible for managing institutional and global wealth management portfolios. Steve was previously a senior portfolio manager for the Global Mid-Institutional & Wealth team for 15 years and was responsible for market strategy, tactical allocation decisions, and security selection for fixed income portfolios managed across various platforms including Institutional and Global Wealth Management. An employee since 1988, he has held various other portfolio management and analytical positions across Investment Management and the firm. Steve holds a B.S. in finance and business management from Franklin University and is a CFA charterholder.

Thad Paskell

Start Date

Tenure

Tenure Rank

Mar 01, 2018

4.25

4.3%

Thad Paskell, Executive Director, is a member of the GFICC group. An employee of JPMIM or predecessor firms since 1999, Mr. Paskell is a senior portfolio manager for the Mid-Institutional team and is responsible for market strategy, tactical allocation decisions, and security selection for fixed income portfolios managed across various platforms including Institutional and Global Wealth Management.

Kris Beachnau

Start Date

Tenure

Tenure Rank

Mar 31, 2021

1.17

1.2%

Kris Beachnau, vice president, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group. Based in Columbus, Kris is a portfolio manager for the U.S. Value Driven team and is responsible for managing institutional and global wealth management portfolios. Kris has held several positions within the firm including Investment Systems Analyst for the taxable and municipal fixed income groups. He also worked as a senior performance reporting analyst. Before joining the firm in 1998, Kris worked at Huntington National Bank as a personal banker, and a recordkeeping analyst in the retirement plans department. Kris holds a B.A. in mathematics and economics from SUNY Geneseo, and an M.B.A. from Franklin University

Jeff Whipple

Start Date

Tenure

Tenure Rank

Mar 31, 2021

1.17

1.2%

Jeffrey A. Whipple, vice president, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group. Based in Columbus, Jeff is a portfolio manager for the U.S. Value Driven team and is responsible for managing institutional and global wealth management portfolios. An employee since 2006, Jeff was previously a member of the Columbus Fixed Income Quantitative Analysis and Risk team and prior to that he was an investment performance analyst. He holds a B.S. in agricultural business and developmental economics from The Ohio State University and is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.76 1.16

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