TXRRX: JPMorgan Tax Aware Real Return R6

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TXRRX JPMorgan Tax Aware Real Return R6


Profile

TXRRX - Profile

Vitals

  • YTD Return -2.8%
  • 3 Yr Annualized Return -1.4%
  • 5 Yr Annualized Return -0.7%
  • Net Assets $285 M
  • Holdings in Top 10 29.4%

52 WEEK LOW AND HIGH

$9.15
$7.89
$9.48

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.48%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 4.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $15,000,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -2.8%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.70%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    JPMorgan Tax Aware Real Return Fund
  • Fund Family Name
    JPMorgan
  • Inception Date
    Aug 16, 2013
  • Shares Outstanding
    2524507
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Richard Taormina

Fund Description

The fund is designed to protect after-tax return by, under normal circumstances, primarily investing in a portfolio of municipal obligations whose interest payments are excluded from federal income taxes. Because of the limited supply of inflation-protected municipal securities, the fund seeks to synthetically create inflation protection by investing in a combination of conventional municipal securities and inflation-linked derivatives such as Non-Seasonally Adjusted Consumer Price Index for all Urban Consumers (CPI-U) swaps.


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Categories

Fund Company Quick Screens

TXRRX - Fund Company Quick Screens


Performance

TXRRX - Performance

Return Ranking - Trailing

Period TXRRX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.8% -31.9% 954.9% 98.00%
1 Yr -1.8% -27.2% 945.1% 95.98%
3 Yr -1.4%* -18.4% 120.9% 98.54%
5 Yr -0.7%* -9.1% 60.6% 97.42%
10 Yr N/A* -5.2% 14.4% 29.55%

* Annualized

Return Ranking - Calendar

Period TXRRX Return Category Return Low Category Return High Rank in Category (%)
2019 3.0% -5.8% 20.3% 73.94%
2018 -3.5% -29.6% 4.6% 73.56%
2017 -0.1% -4.4% 15.8% 87.46%
2016 -1.0% -6.1% 15.0% 54.61%
2015 -1.9% -11.6% 2.6% 63.73%

Total Return Ranking - Trailing

Period TXRRX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.8% -31.9% 954.9% 98.00%
1 Yr -1.8% -27.2% 945.1% 95.98%
3 Yr -1.4%* -18.4% 120.9% 98.86%
5 Yr -0.7%* -9.1% 60.6% 97.86%
10 Yr N/A* -5.2% 16.1% 34.89%

* Annualized

Total Return Ranking - Calendar

Period TXRRX Return Category Return Low Category Return High Rank in Category (%)
2019 3.0% -5.8% 20.3% 74.24%
2018 -3.5% -29.6% 4.6% 78.35%
2017 -0.1% -4.4% 15.8% 89.38%
2016 -1.0% -6.1% 15.0% 56.91%
2015 -1.9% -9.9% 3.0% 71.87%

NAV & Total Return History


Holdings

TXRRX - Holdings

Concentration Analysis

TXRRX Category Low Category High TXRRX % Rank
Net Assets 285 M 619 K 88.4 B 65.06%
Number of Holdings 208 1 10083 66.17%
Net Assets in Top 10 79.9 M -170 M 26.9 B 57.76%
Weighting of Top 10 29.39% 2.6% 100.0% 29.24%

Top 10 Holdings

  1. JPMorgan Instl Tx Fr Mny Mkt IM 6.05%
  2. TENNESSEE ENERGY ACQUISITION CORP GAS REV 4% 3.37%
  3. HOUSTON TEX WTR & SWR SYS REV 5.75% 3.17%
  4. PORT AUTH N Y & N J 5% 2.80%
  5. NEW YORK ST URBAN DEV CORP REV 5% 2.57%
  6. CALIFORNIA ST 5% 2.36%
  7. UNIVERSITY TEX UNIV REVS 5% 2.34%
  8. LOS ANGELES CALIF DEPT WTR & PWR REV 5% 2.32%
  9. BROWARD CNTY FLA WTR & SWR UTIL REV 5% 2.24%
  10. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5% 2.16%

Asset Allocation

Weighting Return Low Return High TXRRX % Rank
Bonds
93.94% 78.92% 188.18% 69.53%
Cash
6.06% -83.41% 19.68% 21.58%
Stocks
0.00% -4.99% 21.62% 70.01%
Preferred Stocks
0.00% -0.17% 10.40% 73.33%
Other
0.00% -9.30% 31.94% 67.08%
Convertible Bonds
0.00% 0.00% 9.45% 83.33%

Bond Sector Breakdown

Weighting Return Low Return High TXRRX % Rank
Municipal
93.94% 0.00% 100.06% 36.18%
Cash & Equivalents
6.06% -26.49% 93.17% 26.81%
Derivative
0.00% 0.00% 39.43% 71.98%
Securitized
0.00% 0.00% 97.53% 84.81%
Corporate
0.00% 0.00% 99.00% 88.56%
Government
0.00% -2.21% 99.96% 86.93%

Bond Geographic Breakdown

Weighting Return Low Return High TXRRX % Rank
US
93.94% 49.78% 163.25% 39.55%
Non US
0.00% -12.10% 39.65% 94.47%

Expenses

TXRRX - Expenses

Operational Fees

TXRRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.48% 0.01% 34.57% 82.83%
Management Fee 0.35% 0.00% 1.60% 40.12%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.00% 0.50% 32.32%

Sales Fees

TXRRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

TXRRX 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.

TXRRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 4.00% 0.00% 496.90% 1.17%

Distributions

TXRRX - Distributions

Dividend Yield Analysis

TXRRX Category Low Category High TXRRX % Rank
Dividend Yield 0.00% 0.00% 3.89% 68.86%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

TXRRX Category Low Category High TXRRX % Rank
Net Income Ratio 2.70% -0.81% 5.05% 33.62%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

TXRRX - Fund Manager Analysis

Managers

Richard Taormina


Start Date

Tenure

Tenure Rank

Aug 31, 2005

15.01

15.0%

Richard Taormina, Managing Director, has been an employee of JPMIM and/or its affiliates since 1997. Mr. Taormina is responsible for managing municipal mutual funds, institutional fixed income accounts and quantitative analysis. Previously, Mr. Taormina was a Certified Financial Planner for the Financial Advisory Group, where he was an investment analyst. Prior to joining the firm, Rick was a senior trader for national, high-yield, and state-specific funds at the Vanguard Group, where the team consistently performed in the top-quartile. He has been a municipal bond manager since 1990. Ricks holds a B.A. in economics from the University of Delaware, an M.B.A. in finance from Wilmington College, and is a Certified Financial Planner (CFP).

David Rooney


Start Date

Tenure

Tenure Rank

Mar 01, 2015

5.51

5.5%

Mr. Rooney, Executive Director and CFA charterholder, is a portfolio manager in the Global Fixed Income, Currency & Commodities (GFICC) group. An employee since 2012 and portfolio manager since 2015, Mr. Rooney is responsible for managing fixed income and derivative assets, with an emphasis on inflation-linked products. Prior to joining the firm, Mr. Rooney was with BNY Mellon Asset Management and the Bank of New York, most recently as a portfolio managers and trader focused on securitized products.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 33.3 6.93 0.17