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Name

As of 04/29/2022

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 Emerging Markets Strategic Debt Fund

JECZX | Fund

$6.39

$282 M

0.00%

$0.00

1.45%

Vitals

YTD Return

-14.0%

1 yr return

-8.3%

3 Yr Avg Return

-1.3%

5 Yr Avg Return

-0.1%

Net Assets

$282 M

Holdings in Top 10

15.8%

52 WEEK LOW AND HIGH

$6.4
$6.34
$7.86

Expenses

OPERATING FEES

Expense Ratio 1.45%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 62.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/29/2022

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 Emerging Markets Strategic Debt Fund

JECZX | Fund

$6.39

$282 M

0.00%

$0.00

1.45%

JECZX - Profile

Distributions

  • YTD Total Return -14.0%
  • 3 Yr Annualized Total Return -1.3%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.09%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    JPMorgan Emerging Markets Strategic Debt Fund
  • Fund Family Name
    J.P. Morgan
  • Inception Date
    Jun 29, 2012
  • Shares Outstanding
    3922
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Pierre-Yves Bareau

Fund Description

The Fund invests primarily in debt investments that it believes have the potential to provide total return from countries whose economies or bond markets are less developed (emerging markets). The Fund’s adviser, J.P. Morgan Investment Management Inc. (JPMIM or the adviser) uses a flexible asset allocation approach to invest the Fund opportunistically among different emerging market sectors and instruments. Under normal circumstances, the Fund invests at least 80% of its Assets in emerging market debt investments. “Emerging market debt investments” are securities and instruments of issuers located in or tied economically to emerging markets. “Assets” means net assets, plus the amount of borrowings for investment purposes. Emerging market countries typically have less-established market economies than developed countries and may face greater social, economic, regulatory and political uncertainties. Emerging markets currently include most countries in the world except Australia, Canada, Japan, New Zealand, the U.S., the United Kingdom, and most of the countries of western Europe and Hong Kong. A security will be deemed to be tied economically to emerging markets if: (1) the issuer is organized under the laws of, or has a principal place of business in an emerging market; or (2) the principal listing of the issuer’s securities is in a market that is in an emerging market; or (3) the issuer derives at least 50% of its total revenues or profits from goods that are produced or sold, investments made, or services performed in an emerging market; or (4) the issuer has at least 50% of its assets located in an emerging market.The Fund is unconstrained and may invest in a broad array of emerging market debt securities and sectors including corporate debt and sovereign debt. These securities may be denominated in U.S. and other developed market currencies as well as emerging markets currencies (local currencies). Sovereign debt securities are securities that are issued or guaranteed by foreign sovereign governments or their agencies, authorities or political subdivisions or instrumentalities, and supranational agencies. The Fund may invest in debt securities issued or guaranteed by foreign corporations and foreign financial institutions.The Fund’s securities may be of any maturity, duration or quality. The Fund does not have any minimum quality rating requirement and may invest without limit in securities that are rated below investment grade (commonly known as junk bonds) or the unrated equivalent. As part of its principal investment strategies, the Fund may invest in foreign municipal securities, including foreign provincial securities, fixed and floating or variable rate instruments, inflation-linked securities, corporate debt securities, private placements, zero-coupon securities and loan participation notes. The Fund may also invest in structured investments such as credit linked notes (CLNs) involving U.S. or non-U.S. counterparties for which the reference instrument is an emerging markets debt instrument denominated in an emerging markets currency. CLNs are typically structured as a limited purpose trust or other vehicle that, in turn, invests in a derivative or basket of derivative instruments, such as credit default swaps, interest rate swaps and/or other securities, in order to provide exposure to emerging markets.Derivatives are instruments that have a value based on another instrument, exchange rate or index. In addition to direct investments in securities, the Fund will use derivatives as a substitute for securities in which the Fund can invest. The Fund may use derivatives including foreign currency transactions such as currency forwards including non-deliverable forwards, futures contracts, options, swaps such as interest rate swaps and credit default swaps, and securities with embedded derivatives such as CLNs. The Fund may use swaps structured as credit default swaps related to individual securities or indexes of securities to gain or to limit exposure to securities, to mitigate risk exposure and to manage cash flow needs. The Fund may also use foreign currency transactions, futures contracts, options, credit default swaps and currency options to help manage duration, sector and yield curve exposure and credit and spread volatility and to establish or adjust exposure to particular foreign securities, markets or currencies. The Fund also may use derivatives to hedge an investment in one currency back to another currency, to increase income and gain to the Fund, and/or as part of its risk management process by establishing or adjusting exposure to particular foreign securities, markets or currencies.The Fund may invest in registered investment companies including J.P. Morgan money market funds, securities issued by the U.S. government and its agencies, or other investments to maintain asset coverage for the Fund’s derivative positions and for cash management purposes.The adviser buys and sells securities and investments for the Fund based on its view of individual securities and market sectors, combining macro-economic research with bottom up fundamental country and credit analysis. The adviser analyzes rates and foreign exchanges separately using a quantitative assessment with a qualitative overlay. 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, currency risk, credit risk, duration, liquidity and the complex legal and technical structure of the transaction. As part of its investment process, the adviser also considers certain environmental, social and governance factors that it believes could have a material negative or positive impact on the risk profiles of certain securities or countries in which the Fund may invest. These determinations may not be conclusive and securities 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 that may be positively impacted by such factors.
Read More

JECZX - Performance

Return Ranking - Trailing

Period JECZX Return Category Return Low Category Return High Rank in Category (%)
YTD -14.0% -20.2% 2.1% 56.25%
1 Yr -8.3% -26.7% 1.0% 9.74%
3 Yr -1.3%* -13.0% 4.4% 37.64%
5 Yr -0.1%* -7.0% 4.9% 43.97%
10 Yr N/A* -4.2% 4.3% N/A

* Annualized

Return Ranking - Calendar

Period JECZX Return Category Return Low Category Return High Rank in Category (%)
2023 -7.6% -58.7% 15.1% 51.52%
2022 1.0% -19.3% 99.4% 49.29%
2021 8.0% -12.0% 13.5% 58.05%
2020 -10.7% -31.2% 73.9% 48.93%
2019 4.0% -9.1% 14.2% 76.62%

Total Return Ranking - Trailing

Period JECZX Return Category Return Low Category Return High Rank in Category (%)
YTD -14.0% -24.1% 0.0% 52.72%
1 Yr -8.3% -27.8% 1.0% 8.68%
3 Yr -1.3%* -13.0% 4.4% 33.24%
5 Yr -0.1%* -7.0% 4.9% 40.52%
10 Yr N/A* -4.2% 4.1% N/A

* Annualized

Total Return Ranking - Calendar

Period JECZX Return Category Return Low Category Return High Rank in Category (%)
2023 -7.6% -58.7% 15.1% 51.52%
2022 1.0% -19.3% 99.4% 49.29%
2021 8.2% -9.9% 13.6% 56.32%
2020 -6.6% -31.2% 73.9% 25.08%
2019 8.5% 0.0% 17.0% 44.81%

NAV & Total Return History

JECZX - Holdings

Concentration Analysis

JECZX Category Low Category High JECZX % Rank
Net Assets 282 M 49 K 15.1 B 43.64%
Number of Holdings 305 4 1926 37.73%
Net Assets in Top 10 79.9 M -137 M 1.25 B 37.99%
Weighting of Top 10 15.84% 0.4% 96.5% 67.38%

Top 10 Holdings

  1. Secretaria Tesouro Nacional 6% 2.25%
  2. South Africa (Republic of) 8.875% 2.25%
  3. Mexico (United Mexican States) 7.75% 2.15%
  4. Notas Do Tesouro Nacional 1.73%
  5. Notas Do Tesouro Nacional 1.73%
  6. Notas Do Tesouro Nacional 1.73%
  7. Notas Do Tesouro Nacional 1.73%
  8. Notas Do Tesouro Nacional 1.73%
  9. Notas Do Tesouro Nacional 1.73%
  10. Notas Do Tesouro Nacional 1.73%

Asset Allocation

Weighting Return Low Return High JECZX % Rank
Bonds 		96.79% 0.07% 116.66% 27.44%
Cash 		3.20% -16.66% 102.17% 71.16%
Stocks 		0.00% -0.01% 2.07% 83.38%
Preferred Stocks 		0.00% 0.00% 0.00% 79.10%
Other 		0.00% -2.62% 3.69% 77.25%
Convertible Bonds 		0.00% 0.00% 25.36% 90.48%

Bond Sector Breakdown

Weighting Return Low Return High JECZX % Rank
Government 		74.87% 0.00% 99.44% 32.28%
Corporate 		21.93% 0.00% 93.26% 37.04%
Cash & Equivalents 		3.02% 0.00% 99.90% 77.78%
Derivative 		0.19% 0.00% 59.41% 46.30%
Securitized 		0.00% 0.00% 1.15% 79.37%
Municipal 		0.00% 0.00% 0.00% 78.57%

Bond Geographic Breakdown

Weighting Return Low Return High JECZX % Rank
Non US 		96.20% 0.00% 159.42% 33.07%
US 		0.59% -74.21% 10.35% 34.66%

JECZX - Expenses

Operational Fees

JECZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.45% 0.01% 2.87% 18.52%
Management Fee 0.65% 0.00% 1.10% 42.34%
12b-1 Fee 0.50% 0.00% 1.00% 67.42%
Administrative Fee 0.08% 0.02% 0.65% 45.19%

Sales Fees

JECZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

JECZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 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.

JECZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 62.00% 0.00% 302.00% 51.67%

JECZX - Distributions

Dividend Yield Analysis

JECZX Category Low Category High JECZX % Rank
Dividend Yield 0.00% 0.00% 9.28% 55.58%

Dividend Distribution Analysis

JECZX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

JECZX Category Low Category High JECZX % Rank
Net Income Ratio 4.09% -2.36% 9.29% 49.73%

Capital Gain Distribution Analysis

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

Distributions History

View More +

JECZX - Fund Manager Analysis

Managers

Pierre-Yves Bareau

Start Date

Tenure

Tenure Rank

Jun 29, 2012

9.76

9.8%

Pierre-Yves Bareau, Managing Director, a member of JPMIM’s Global Fixed Income, Currency & Commodities group (GFICC), Mr. Bareau supervises the portfolio management team and shares responsibility for the duration, yield curve, and sector allocation strategies for the Fund. Before joining JPMIM in October 2009, Mr. Bareau was the Chief Investment Officer for Fortis Investments for emerging markets debt for more than 10 years.

Emil Babayev

Start Date

Tenure

Tenure Rank

Sep 30, 2016

5.5

5.5%

Emil Babayev is a member of the GFICC group and is the lead portfolio manager for hard currency debt strategies within the Emerging Markets Debt Team at J.P. Morgan Investment Management, Inc. He has been an employee of JPMIM since 2000 and currently serves as a portfolio manager within the emerging markets debt team.

Joanne Baxter

Start Date

Tenure

Tenure Rank

Jun 01, 2017

4.83

4.8%

Ms. Baxter, Executive Director, is a portfolio manager within the Emerging Markets Debt team. Based in London, she specializes in managing asset allocation and total return portfolios within EMD. Prior to joining the firm, Ms. Baxter served as a trader/ portfolio manager within the emerging markets debt team at Ashmore Group, specializing in CEEMEA credits.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 23.78 6.15 2.33

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