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JMNAX JPMorgan Research Market Neutral A

  • Fund
  • JMNAX
  • Price as of: Jul 19, 2019
  • $13.29 - $0.06 - 0.45%
  • Category
  • Market Neutral

JMNAX - Profile

Vitals

  • YTD Return -7.5%
  • 3 Yr Annualized Return -0.9%
  • 5 Yr Annualized Return -2.7%
  • Net Assets $68.3 M
  • Holdings in Top 10 20.6%

52 WEEK LOW AND HIGH

$13.29
$12.96
$14.74

Expenses

OPERATING RELATED FEES

  • Expense Ratio 3.83%

SALES FEES

  • Front Load 5.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 252.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$1,000

Investment Themes

CATEGORY

Market Neutral
  • Fund Type Open End Mutual Fund
  • Investment Style Market Neutral

Distributions

  • YTD Total Return -7.0%
  • 3 Yr Annualized Total Return 0.4%
  • 5 Yr Annualized Total Return -1.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.73%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name JPMorgan Research Market Neutral Fund
  • Fund Family Name JPMorgan
  • Inception Date Feb 28, 2002
  • Shares Outstanding 1123727
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Steven G. Lee

Fund Description

The fund takes long and short positions in different securities, selecting from a universe of mid- to large-capitalization stocks with characteristics similar to those of the Russell 1000 and/or Standard & Poor's 500 (S&P 500) Indexes, in an effort to insulate the fund's performance from the effects of general stock market movements. The long and short positions are matched on a variety of risk characteristics in order to limit exposure to macroeconomic factors.

JMNAX - Performance

Return Ranking - Trailing

Period JMNAX Return Category Return Low Category Return High Rank in Category (%)
YTD -7.5% -12.8% 17.2% 73.75%
1 Yr -7.3% -33.7% 4.6% 71.25%
3 Yr -0.9%* -15.4% 5.9% 52.56%
5 Yr -2.7%* -22.7% 2.1% 65.33%
10 Yr -1.3%* -14.0% 13.5% 78.57%

* Annualized


Return Ranking - Calendar

Period JMNAX Return Category Return Low Category Return High Rank in Category (%)
2018 1.0% -27.8% 6.2% 10.26%
2017 2.5% -21.2% 6.1% 29.49%
2016 -2.4% -8.4% 7.9% 87.18%
2015 -4.1% -71.0% 5.6% 66.67%
2014 0.2% -7.6% 5.2% 38.10%

Total Return Ranking - Trailing

Period JMNAX Return Category Return Low Category Return High Rank in Category (%)
YTD -7.0% -12.8% 17.2% 72.50%
1 Yr -6.0% -33.7% 8.3% 65.00%
3 Yr 0.4%* -13.3% 7.6% 46.15%
5 Yr -1.4%* -22.7% 4.0% 57.33%
10 Yr -0.6%* -14.0% 15.1% 78.57%

* Annualized


Total Return Ranking - Calendar

Period JMNAX Return Category Return Low Category Return High Rank in Category (%)
2018 1.9% -27.8% 8.0% 12.82%
2017 5.4% -9.9% 7.0% 19.23%
2016 -2.4% -8.4% 11.2% 89.74%
2015 -4.1% -71.0% 5.6% 69.33%
2014 2.8% -7.6% 6.4% 25.40%

NAV & Total Return History

JMNAX - Holdings

Concentration Analysis

JMNAX Category Low Category High JMNAX % Rank
Net Assets 68.3 M 8.31 M 7.94 B 66.25%
Number of Holdings 284 8 1081 48.75%
Net Assets in Top 10 7.24 M -1.78 B 552 M 71.25%
Weighting of Top 10 20.59% 8.4% 947.2% 67.50%

Top 10 Holdings

  1. Norfolk Southern Corp 2.93%

  2. Alphabet Inc Class C 2.75%

  3. Amazon.com Inc 2.66%

  4. Union Pacific Corp 2.41%

  5. Chipotle Mexican Grill Inc Class A 1.80%

  6. Dominion Energy Inc 1.79%

  7. eBay Inc 1.62%

  8. NextEra Energy Inc 1.56%

  9. Prologis Inc 1.55%

  10. AutoZone Inc 1.54%


Asset Allocation

Weighting Return Low Return High JMNAX % Rank
Cash
98.74% -9.61% 132.20% 31.25%
Stocks
1.26% -33.31% 100.96% 66.25%
Preferred Stocks
0.00% -0.69% 10.66% 42.50%
Other
0.00% -6.51% 82.74% 47.50%
Convertible Bonds
0.00% 0.00% 77.54% 47.50%
Bonds
0.00% -47.88% 30.25% 48.75%

Stock Sector Breakdown

Weighting Return Low Return High JMNAX % Rank
Industrials
5.37% -2.10% 328.02% 58.97%
Technology
2.08% -705.25% 32.80% 57.69%
Healthcare
0.95% -12.85% 73.95% 71.79%
Basic Materials
0.87% -33.88% 9.25% 62.82%
Utilities
-0.01% -26.15% 9.02% 69.23%
Communication Services
-0.07% -269.20% 5.75% 91.03%
Real Estate
-0.25% -70.72% 6.21% 61.54%
Energy
-0.38% -3.73% 191.94% 85.90%
Financial Services
-1.12% -2.63% 20.52% 94.87%
Consumer Defense
-1.29% -193.88% 32.44% 84.62%
Consumer Cyclical
-4.71% -7.91% 743.61% 92.31%

Stock Geographic Breakdown

Weighting Return Low Return High JMNAX % Rank
US
2.64% -32.17% 109.63% 68.75%
Non US
-1.38% -112.79% 54.85% 88.75%

JMNAX - Expenses

Operational Fees

JMNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.83% 0.77% 4.58% 10.00%
Management Fee 0.80% 0.13% 2.00% 30.00%
12b-1 Fee 0.25% 0.00% 1.00% 28.89%
Administrative Fee 0.08% 0.04% 0.40% 37.14%

Sales Fees

JMNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.25% 2.25% 5.75% 61.90%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

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

Turnover 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.

JMNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 252.00% 64.00% 4753.00% 50.00%

JMNAX - Distributions

Dividend Yield Analysis

JMNAX Category Low Category High JMNAX % Rank
Dividend Yield 0.00% 0.00% 0.11% 67.50%

Dividend Distribution Analysis

JMNAX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Semi-Annually Annually

Dividend Payout History


Net Income Ratio Analysis

JMNAX Category Low Category High JMNAX % Rank
Net Income Ratio -0.73% -2.09% 2.72% 76.25%

Capital Gain Distribution Analysis

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

JMNAX - Managers

Steven G. Lee

Manager

Start Date

Tenure

Tenure Rank

Feb 11, 2014

5.38

5.4%

Steven G. Lee, Managing Director, is a portfolio manager on the U.S. Disciplined Equity Team. Before assuming this role in January 2014, Steven spent the prior ten years as an analyst on the JP Morgan Research Team, responsible for covering the autos, transportation and aerospace/defense sectors. Prior to joining the firm in 2004, he was a research analyst covering the global chemicals sector at Sanford Bernstein Investment Research and Management. He previously held positions as a management consultant with Booz-Allen&Hamilton and as an engineer with Ford Motor Company. Steven graduated with a dual degree from the Management and Technology Program at the University of Pennsylvania with a B.S. in economics from the Wharton School of Business, majoring in finance, and a B.S. in engineering from the School of Engineering and Applied Science, majoring in mechanical engineering and applied mechanics. He also holds an M.S. in mechanical engineering from the Massachusetts Institute of Technology and an M.B.A. in finance from the University of Michigan.


Raffaele Zingone

Manager

Start Date

Tenure

Tenure Rank

Feb 11, 2014

5.38

5.4%

Raffaele Zingone, managing director, is a portfolio manager on the U.S. Disciplined Equity Team. An employee since 1991, Ralph is responsible for the Research Enhanced Index (REI) strategies. Prior to this role, he was a research analyst following the aerospace, environmental, and diversified manufacturing sectors. Upon joining the firm, he was a quantitative equity analyst and later served as a U.S. Equity portfolio manager in London and New York. Ralph received his B.A. in mathematics and economics from the College of the Holy Cross and his M.B.A. in finance from New York University. He is a CFA charterholder.


Tenure Analysis

Category Low

0.0

Category High

28.84

Category Average

6.42

Category Mode

5.54