Continue to site >
Trending ETFs
You have successfully subscribed to Advisor Access. Thank you!
Help us personalize your experience.
Which type of investor describes you best?
Help us personalize your experience.
What is your AUM?
Knowing your investable assets will help us build and prioritize features that will suit your investment needs.

Congratulations on personalizing your experience.

Email is verified. Thank you!

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

JPMorgan Floating Rate Income Fund

JPHAX | Fund

$8.41

$592 M

6.74%

$0.57

1.00%

Vitals

YTD Return

1.0%

1 yr return

-4.4%

3 Yr Avg Return

4.5%

5 Yr Avg Return

-2.3%

Net Assets

$592 M

Holdings in Top 10

15.6%

52 WEEK LOW AND HIGH

$8.4
$8.22
$8.86

Expenses

OPERATING FEES

Expense Ratio 1.00%

SALES FEES

Front Load 2.25%

Deferred Load N/A

TRADING FEES

Turnover 40.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

JPMorgan Floating Rate Income Fund

JPHAX | Fund

$8.41

$592 M

6.74%

$0.57

1.00%

JPHAX - Profile

Distributions

  • YTD Total Return 1.0%
  • 3 Yr Annualized Total Return 4.5%
  • 5 Yr Annualized Total Return -1.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.87%
DIVIDENDS
  • Dividend Yield 6.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    JPMorgan Floating Rate Income Fund
  • Fund Family Name
    JPMorgan
  • Inception Date
    Jun 01, 2011
  • Shares Outstanding
    6158319
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    James Shanahan

Fund Description

The Fund invests mainly in floating rate debt instruments issued by corporations. These investments include leveraged loan assignments and participations (Loans) and commitments to purchase Loans (Unfunded Commitments). Loans will typically consist of senior secured floating rate loans (Senior Secured Loans) but may also include unsecured loans, second lien loans, bridge loans or loans that are junior or subordinated (Junior Loans). Leveraged loans generally are rated below investment grade or are considered by the adviser to be below investment grade debt securities (also known as “junk bonds,” “high yield securities” and “non-investment grade bonds”). In addition to investing in Loans, as part of its principal strategy, the Fund may also invest in other floating rate high yield securities such as corporate bonds. In addition, the Fund may invest in other corporate debt securities, warrants and rights, convertible securities, common stock, preferred stock and cash equivalents.Under normal circumstances, the Fund will invest at least 80% of its Assets in floating rate instruments including Loans, convertible securities, corporate bonds, preferred shares and other floating rate debt instruments. Floating rate instruments also include equity securities (or rights to acquire securities) that are structured to pay a floating rate of income and money market investment companies. “Assets” means net assets plus the amount of borrowings for investment purposes.The Fund may invest up to 100% of the Fund’s total assets in below investment grade securities or unrated securities that the adviser deems to be of equivalent quality. 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. Generally, the Fund will not invest, at the time of investment, more than 40% of total assets in securities rated CCC+/Caa1 or lower or unrated securities deemed to be of equivalent quality to such securities.The Fund generally invests in securities issued in U.S. dollars including U.S. dollar-denominated securities issued by foreign corporations and U.S. affiliates of foreign corporations. Up to 20% of the Fund’s total assets may be invested in non-U.S. dollar denominated securities in foreign and “emerging markets.” Generally, the Fund attempts to minimize currency exposure to foreign currencies through hedging.Because of the nature of the Fund’s investments, the Fund may, from time to time, acquire securities and instruments related to its holdings that are issued in connection with amendments, waivers, conversions, exchanges, warrants, and rights offerings, as well as bankruptcy reorganizations and other financial or other corporate reorganizations. These securities and instruments include the types of securities that the Fund invests in directly as part of its principal strategy such as Loans, common stock, preferred stock, warrants and rights, corporate bonds, and notes, as well as other types of securities and instruments such as pay-in-kind (PIK) notes, zero-coupon notes, and private placements.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, forwards and other foreign currency transactions in the management of portfolio investments. The Fund may also use such derivatives to hedge various investments, for risk management and/or to increase income or gain to the Fund. In particular, the Fund may use swaps structured as credit default swaps related to individual Loans or other securities or indexes of Loans or securities to gain or limit exposure to Loans and other securities, to mitigate risk exposure and to manage cash flow needs. In addition, the Fund may use currency derivatives to hedge non-dollar investments back to the U.S. dollar.The adviser buys and sells securities and investments for the Fund through a value-oriented, bottom-up research process that utilizes fundamental credit analysis to identify favorable and unfavorable risk/reward opportunities across sectors, industries and structures while minimizing credit risk. Such fundamental credit analysis includes focusing on the issuer’s underlying business prospects, capital requirements, capital structure, collateral, covenants, enterprise value, liquidity and management. The adviser strives to mitigate credit risk with research of sectors and issuers and will search for opportunities in inefficient sectors of the market where credit ratings have not caught up with fundamentals. The adviser’s fundamental analysis will be complemented by its macroeconomic insights as they relate to factors such as default rates and capital market liquidity. In addition to traditional fundamental credit and valuation analysis for distressed debt investments, the adviser focuses on identifying the cause (or potential causes) of a company’s distress and identifying catalysts that drive value creation and downside risk. To assess downside risk and upside potential of a particular investment, the adviser generally focuses on analyzing the potential volatility of a company’s enterprise value relative to the leveraged market value of the prospective or current investment. As part of its credit analysis, 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.
Read More

JPHAX - Performance

Return Ranking - Trailing

Period JPHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.0% -6.9% 6.5% 25.50%
1 Yr -4.4% -14.7% 23.8% 32.20%
3 Yr 4.5%* -8.2% 56.8% 44.44%
5 Yr -2.3%* -8.1% 29.5% 51.16%
10 Yr -1.8%* -5.2% 13.8% 64.71%

* Annualized

Return Ranking - Calendar

Period JPHAX Return Category Return Low Category Return High Rank in Category (%)
2022 -6.9% -22.9% 5.5% 42.32%
2021 0.6% -6.3% 5.5% 43.75%
2020 -0.9% -7.9% 57.4% 60.07%
2019 0.4% -2.1% 5.5% 67.54%
2018 -1.0% -4.2% 12.9% 49.01%

Total Return Ranking - Trailing

Period JPHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.0% -6.9% 6.5% 31.21%
1 Yr -4.4% -14.7% 24.7% 34.21%
3 Yr 4.5%* -8.2% 56.8% 46.18%
5 Yr -1.4%* -8.1% 29.5% 22.47%
10 Yr 0.6%* -5.2% 13.8% 10.59%

* Annualized

Total Return Ranking - Calendar

Period JPHAX Return Category Return Low Category Return High Rank in Category (%)
2022 -6.9% -22.9% 5.5% 38.91%
2021 0.6% -6.3% 5.5% 44.10%
2020 -0.9% -7.9% 57.4% 60.07%
2019 0.6% -2.1% 5.5% 54.10%
2018 -0.1% -4.2% 12.9% 9.49%

NAV & Total Return History

JPHAX - Holdings

Concentration Analysis

JPHAX Category Low Category High JPHAX % Rank
Net Assets 592 M 25 M 13.1 B 60.36%
Number of Holdings 247 12 1447 77.38%
Net Assets in Top 10 106 M -191 M 2.54 B 53.77%
Weighting of Top 10 15.62% 4.6% 91.9% 45.85%

Top 10 Holdings

  1. JPMorgan US Government MMkt Instl 6.26%
  2. Valeant Pharmaceuticals International, Inc., 1st Lien Term Loan B 2.09%
  3. Valeant Pharmaceuticals International, Inc., 1st Lien Term Loan B 2.09%
  4. Valeant Pharmaceuticals International, Inc., 1st Lien Term Loan B 2.09%
  5. Valeant Pharmaceuticals International, Inc., 1st Lien Term Loan B 2.09%
  6. Valeant Pharmaceuticals International, Inc., 1st Lien Term Loan B 2.09%
  7. Valeant Pharmaceuticals International, Inc., 1st Lien Term Loan B 2.09%
  8. Valeant Pharmaceuticals International, Inc., 1st Lien Term Loan B 2.09%
  9. Valeant Pharmaceuticals International, Inc., 1st Lien Term Loan B 2.09%
  10. Valeant Pharmaceuticals International, Inc., 1st Lien Term Loan B 2.09%

Asset Allocation

Weighting Return Low Return High JPHAX % Rank
Bonds 		91.61% 28.71% 161.82% 60.00%
Cash 		6.36% -61.90% 58.61% 48.52%
Stocks 		1.68% 0.00% 51.23% 8.20%
Convertible Bonds 		0.19% 0.00% 5.51% 21.97%
Other 		0.17% -54.21% 26.58% 39.02%
Preferred Stocks 		0.00% -3.99% 1.54% 80.33%

Stock Sector Breakdown

Weighting Return Low Return High JPHAX % Rank
Utilities 		0.00% 0.00% 100.00% 62.67%
Technology 		0.00% 0.00% 100.00% 62.67%
Real Estate 		0.00% 0.00% 48.61% 56.44%
Industrials 		0.00% 0.00% 100.00% 69.78%
Healthcare 		0.00% 0.00% 100.00% 61.33%
Financial Services 		0.00% 0.00% 91.98% 55.56%
Energy 		0.00% 0.00% 100.00% 34.67%
Communication Services 		0.00% 0.00% 100.00% 26.22%
Consumer Defense 		0.00% 0.00% 100.00% 62.22%
Consumer Cyclical 		0.00% 0.00% 97.66% 35.56%
Basic Materials 		0.00% 0.00% 6.25% 61.33%

Stock Geographic Breakdown

Weighting Return Low Return High JPHAX % Rank
US 		1.68% -0.01% 45.12% 5.90%
Non US 		0.00% 0.00% 6.11% 80.33%

Bond Sector Breakdown

Weighting Return Low Return High JPHAX % Rank
Corporate 		93.52% 0.00% 99.80% 28.95%
Cash & Equivalents 		6.48% 0.00% 58.41% 61.51%
Derivative 		0.00% 0.00% 7.03% 76.64%
Securitized 		0.00% 0.00% 96.93% 82.57%
Municipal 		0.00% 0.00% 0.47% 72.04%
Government 		0.00% 0.00% 5.93% 75.33%

Bond Geographic Breakdown

Weighting Return Low Return High JPHAX % Rank
US 		91.61% 14.05% 128.54% 10.82%
Non US 		0.00% 0.00% 84.20% 98.36%

JPHAX - Expenses

Operational Fees

JPHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.00% 0.03% 7.31% 57.14%
Management Fee 0.55% 0.00% 1.89% 20.33%
12b-1 Fee 0.25% 0.00% 1.00% 49.66%
Administrative Fee 0.08% 0.02% 0.27% 29.03%

Sales Fees

JPHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.25% 0.00% 5.75% 79.41%
Deferred Load N/A 1.00% 3.00% 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

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 40.00% 3.00% 215.00% 27.40%

JPHAX - Distributions

Dividend Yield Analysis

JPHAX Category Low Category High JPHAX % Rank
Dividend Yield 6.74% 0.00% 9.41% 54.89%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

JPHAX Category Low Category High JPHAX % Rank
Net Income Ratio 2.87% 1.56% 10.22% 84.59%

Capital Gain Distribution Analysis

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

Distributions History

View More +

JPHAX - Fund Manager Analysis

Managers

James Shanahan

Start Date

Tenure

Tenure Rank

Jun 01, 2011

11.01

11.0%

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

Start Date

Tenure

Tenure Rank

Jan 03, 2019

3.41

3.4%

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.

Thomas Davis

Start Date

Tenure

Tenure Rank

Jan 15, 2020

2.38

2.4%

Mr. Davis currently serves as a portfolio manager for the Global High Yield team responsible for leveraged loans at J.P. Morgan Investment Management. Prior to 2019, Mr. Davis was a fixed income trader for the Global High Yield Team.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 23.43 6.03 3.25

Advertisement

×

Wait! Do you know all the important aspects of mutual funds?

×

Free Advisor Access newsletter emailed to you.

Receive free and exclusive email updates for financial advisors about best performers, news, CE accredited webcasts and more.

Sign up for Advisor Access

Receive email updates about best performers, news, CE accredited webcasts and more.

Disclaimer: By registering, you agree to share your data with MutualFunds.com and opt-in to receiving occasional communications about projects and events. The contents of this form are subject to the MutualFunds.com Privacy Policy. You can unsubscribe at any time.