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JPHAX JPMorgan Floating Rate Income A

  • Fund
  • JPHAX
  • Price as of: Sep 17, 2019
  • $9.12 - $0.00 - 0.00%

JPHAX - Profile

Vitals

  • YTD Return 2.0%
  • 3 Yr Annualized Return -0.9%
  • 5 Yr Annualized Return -1.8%
  • Net Assets $1.3 B
  • Holdings in Top 10 16.6%

52 WEEK LOW AND HIGH

$9.12
$8.93
$9.42

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.17%

SALES FEES

  • Front Load 2.25%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 12.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$1,000

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Bank Loan

Distributions

  • YTD Total Return 2.8%
  • 3 Yr Annualized Total Return 2.4%
  • 5 Yr Annualized Total Return 1.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.58%
DIVIDENDS
  • Dividend Yield 2.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name JPMorgan Floating Rate Income Fund
  • Fund Family Name JPMorgan
  • Inception Date Jun 01, 2011
  • Shares Outstanding 4406482
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager William J. Morgan

Fund Description

The fund invests mainly in floating rate debt instruments issued by corporations. It normally invests at least 80% of its Assets in floating rate instruments including Loans, convertible securities, corporate bonds, preferred shares and other floating rate debt instruments. The fund may invest up to 100% of its total assets in below investment grade securities or unrated securities that the adviser deems to be of equivalent quality. Up to 20% of the fund's total assets may be invested in non-U.S. dollar denominated securities in foreign and "emerging markets."

JPHAX - Performance

Return Ranking - Trailing

Period JPHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -1.4% 3.9% 64.37%
1 Yr -3.0% -6.3% 0.2% 74.07%
3 Yr -0.9%* -1.9% 1.6% 71.50%
5 Yr -1.8%* -17.3% -0.1% 83.98%
10 Yr N/A* -9.1% 0.9% N/A

* Annualized


Return Ranking - Calendar

Period JPHAX Return Category Return Low Category Return High Rank in Category (%)
2018 -4.7% -6.4% 0.1% 55.17%
2017 -0.7% -2.7% 2.5% 80.75%
2016 3.8% -0.4% 7.9% 60.41%
2015 -6.4% -10.4% -0.8% 73.08%
2014 -3.8% -60.1% 0.2% 73.18%

Total Return Ranking - Trailing

Period JPHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.8% -1.4% 4.3% 41.70%
1 Yr -0.6% -6.3% 1.8% 13.99%
3 Yr 2.4%* -1.9% 5.0% 6.28%
5 Yr 1.8%* -17.3% 3.0% 8.29%
10 Yr N/A* -9.1% 3.8% N/A

* Annualized


Total Return Ranking - Calendar

Period JPHAX Return Category Return Low Category Return High Rank in Category (%)
2018 -0.7% -6.4% 2.5% 12.07%
2017 2.8% -1.6% 7.2% 7.04%
2016 8.5% -0.1% 11.5% 4.57%
2015 -2.6% -8.8% 1.6% 18.68%
2014 0.0% -60.1% 2.4% 11.17%

NAV & Total Return History

JPHAX - Holdings

Concentration Analysis

JPHAX Category Low Category High JPHAX % Rank
Net Assets 1.3 B 11.4 M 10.4 B 44.80%
Number of Holdings 243 28 1133 74.41%
Net Assets in Top 10 226 M -308 K 1.48 B 33.46%
Weighting of Top 10 16.56% 5.3% 83.9% 16.54%

Top 10 Holdings

  1. Intelsat Jackson Holdings, 1st Lien Term Loan 2.21%

  2. Valeant Pharmaceuticals International, Inc., 1st Lien Term Loan B 2.07%

  3. Centurylink, Inc., 1st Lien Term Loan B 1.97%

  4. Staples, Inc., 1st Lien Term Loan 1.66%

  5. Multiplan, Inc., 1st Lien Term Loan B 1.59%

  6. Concordia Healthcare Corp., Initial Dollar Term Loan 1.56%

  7. Csc Holdings Llc, 1st Lien Term Loan B 1.47%

  8. Cincinnati Bell, Inc., Term Loan B 1.42%

  9. Ggp, Inc., 1st Lien Term Loan B 1.32%

  10. Dole Food Co., 1st Lien Term Loan B 1.28%


Asset Allocation

Weighting Return Low Return High JPHAX % Rank
Bonds
93.74% 86.62% 101.89% 71.26%
Cash
5.05% -2.10% 12.30% 40.55%
Stocks
1.21% 0.00% 4.07% 13.39%
Preferred Stocks
0.00% 0.00% 0.67% 96.85%
Other
0.00% -5.62% 8.69% 90.16%
Convertible Bonds
0.00% 0.00% 1.99% 96.46%

Stock Sector Breakdown

Weighting Return Low Return High JPHAX % Rank
Industrials
0.27% 0.00% 0.49% 13.46%
Utilities
0.24% 0.00% 0.40% 8.65%
Consumer Cyclical
0.13% 0.00% 1.21% 43.75%
Technology
0.00% 0.00% 0.00% 96.15%
Real Estate
0.00% 0.00% 0.15% 96.15%
Healthcare
0.00% 0.00% 0.09% 96.15%
Financial Services
0.00% 0.00% 0.33% 96.15%
Energy
0.00% 0.00% 0.53% 98.08%
Communication Services
0.00% 0.00% 0.01% 96.15%
Consumer Defense
0.00% 0.00% 0.02% 96.15%
Basic Materials
0.00% 0.00% 2.59% 96.15%

Stock Geographic Breakdown

Weighting Return Low Return High JPHAX % Rank
US
1.21% 0.00% 4.07% 13.39%
Non US
0.00% 0.00% 0.43% 96.06%

Bond Sector Breakdown

Weighting Return Low Return High JPHAX % Rank
Corporate
93.74% 0.00% 99.91% 55.51%
Cash & Equivalents
5.05% -2.10% 12.30% 40.55%
Derivative
0.00% -0.04% 1.89% 89.37%
Securitized
0.00% 0.00% 98.61% 96.85%
Municipal
0.00% 0.00% 96.42% 96.06%
Government
0.00% -13.14% 8.57% 95.28%

Bond Geographic Breakdown

Weighting Return Low Return High JPHAX % Rank
US
80.71% 40.89% 99.91% 40.94%
Non US
13.03% 0.00% 55.45% 60.63%

JPHAX - Expenses

Operational Fees

JPHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.17% 0.01% 3.39% 37.60%
Management Fee 0.55% 0.00% 1.00% 28.35%
12b-1 Fee 0.25% 0.00% 1.00% 54.30%
Administrative Fee 0.08% 0.02% 0.40% 28.47%

Sales Fees

JPHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.25% 0.75% 5.00% 87.27%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

JPHAX 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.

JPHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.00% 12.00% 209.00% 4.03%

JPHAX - Distributions

Dividend Yield Analysis

JPHAX Category Low Category High JPHAX % Rank
Dividend Yield 2.91% 0.00% 7.80% 40.55%

Dividend Distribution Analysis

JPHAX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

JPHAX Category Low Category High JPHAX % Rank
Net Income Ratio 4.58% 1.49% 7.64% 31.40%

Capital Gain Distribution Analysis

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

JPHAX - Managers

William J. Morgan

Manager

Start Date

Tenure

Tenure Rank

Jun 01, 2011

8.25

8.3%

William J. Morgan, managing director, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group. Based in Cincinnati, Bill is the team leader and senior portfolio manager for the Cincinnati High Yield team and is responsible for overseeing high yield, loans and distressed strategies. An employee since 1984, he held the same role at Banc One High Yield Partners, LLC and Pacholder Associates, Inc. Bill holds a B.A. in history from Kenyon College and an M.B.A from Xavier University.


James P. Shanahan

Manager

Start Date

Tenure

Tenure Rank

Jun 01, 2011

8.25

8.3%

James P. Shanahan, Jr., managing director, is a member of the Global Fixed Income, Currency & Commodities (GFICC) group. Based in Cincinnati, Jim is the team leader and senior portfolio manager for the Cincinnati High Yield team and focuses on higher risk credits, including leveraged loans, distressed and special situations investments in high yield mandates. An employee since 1986, he held the same role at Banc One High Yield Partners, LLC and Pacholder Associates, Inc. He graduated from Xavier University and holds a J.D. from the University Of Cincinnati College Of Law.


Alexander Sammarco

Manager

Start Date

Tenure

Tenure Rank

Jan 03, 2019

0.66

0.7%

Mr. Sammarco currently serves a senior special situations analyst for J.P. Morgan Investment Management Inc.’s Cincinnati High Yield team. Prior to joining J.P. Morgan Investment Management Inc. in 2013, Mr. Sammarco was at Stark Investments, a global multi-strategy hedge fund, where he served as a senior member of the investment team.


Michael Schlembach

Manager

Start Date

Tenure

Tenure Rank

Mar 27, 2019

0.43

0.4%


Tenure Analysis

Category Low

0.0

Category High

23.01

Category Average

5.72

Category Mode

1.92