USMTX: JPMorgan Ultra-Short Municipal Fund - MutualFunds.com
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JPMorgan Ultra-Short Municipal I

USMTX - Snapshot

Vitals

  • YTD Return 0.0%
  • 3 Yr Annualized Return 1.5%
  • 5 Yr Annualized Return N/A
  • Net Assets $6.79 B
  • Holdings in Top 10 14.4%

52 WEEK LOW AND HIGH

$10.08
$9.89
$10.09

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.50%

SALES FEES

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

BROKERAGE FEES

  • Turnover 48.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000,000
  • IRA N/A

Fund Classification

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style Muni National Short

Compare USMTX to Popular Municipal Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$14.87

+0.07%

$81.84 B

-

$0.00

0.07%

-

$11.27

0.00%

$33.32 B

-

$0.00

0.09%

-

$13.65

0.00%

$24.55 B

-

$0.00

0.22%

-

$15.95

0.00%

$20.79 B

-

$0.00

0.00%

-

$117.09

-0.04%

$20.43 B

-

-

-0.09%

-

USMTX - Profile

Distributions

  • YTD Total Return 0.0%
  • 3 Yr Annualized Total Return 1.5%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.43%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    JPMorgan Ultra-Short Municipal Fund
  • Fund Family Name
    J.P. Morgan
  • Inception Date
    May 31, 2016
  • Shares Outstanding
    659066769
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Richard Taormina

Fund Description

Under normal circumstances, the fund invests at least 80% of its assets in municipal securities, the income from which is exempt from federal income tax. For purposes of this policy, "Assets" means net assets, plus the amount of borrowings for investment purposes. The fund invests in a portfolio of municipal securities with an average weighted maturity of two years or less.


USMTX - Performance

Return Ranking - Trailing

Period USMTX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -0.6% 1.4% 74.36%
1 Yr 1.1% -1.0% 10.1% 97.09%
3 Yr 1.5%* -0.4% 9.8% 98.06%
5 Yr N/A* -0.3% 7.8% N/A
10 Yr N/A* -0.1% 10.2% N/A

* Annualized

Return Ranking - Calendar

Period USMTX Return Category Return Low Category Return High Rank in Category (%)
2020 0.3% -2.8% 310.0% 93.14%
2019 0.5% -0.3% 15.4% 98.10%
2018 0.0% -10.3% 97.2% 5.67%
2017 0.1% -100.0% 7.6% 88.69%
2016 N/A -7.9% 96.8% N/A

Total Return Ranking - Trailing

Period USMTX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -0.6% 1.4% 74.36%
1 Yr 1.1% -5.0% 10.1% 78.13%
3 Yr 1.5%* -2.4% 9.8% 96.65%
5 Yr N/A* -1.4% 7.8% N/A
10 Yr N/A* -0.1% 10.2% N/A

* Annualized

Total Return Ranking - Calendar

Period USMTX Return Category Return Low Category Return High Rank in Category (%)
2020 0.3% -2.8% 310.0% 93.14%
2019 0.5% -0.3% 15.4% 98.22%
2018 0.0% -10.3% 11.0% 9.48%
2017 0.1% -100.0% 7.6% 90.08%
2016 N/A -7.9% 3.0% N/A

NAV & Total Return History


USMTX - Holdings

Concentration Analysis

USMTX Category Low Category High USMTX % Rank
Net Assets 6.79 B 582 K 81.8 B 4.70%
Number of Holdings 1663 3 10805 4.07%
Net Assets in Top 10 946 M -199 M 4.06 B 1.02%
Weighting of Top 10 14.42% 2.4% 100.0% 65.72%

Top 10 Holdings

  1. JPMorgan Instl Tx Fr Mny Mkt IM 2.92%
  2. TEXAS ST 4% 1.87%
  3. United States Treasury Notes 1.12% 1.54%
  4. CHARLESTON CNTY S C SCH DIST 5% 1.32%
  5. NEW YORK ST DORM AUTH ST PERS INCOME TAX REV 5% 1.30%
  6. OYSTER BAY N Y 2% 1.24%
  7. OHIO ST WTR DEV AUTH WTR POLLUTN CTL REV 0.1% 1.12%
  8. PHILADELPHIA PA SCH DIST 4% 1.11%
  9. MILWAUKEE WIS REV 2% 1.06%
  10. CHARLOTTE N C CTFS PARTN 0.14% 0.99%

Asset Allocation

Weighting Return Low Return High USMTX % Rank
Bonds
92.45% 15.80% 147.66% 91.81%
Cash
7.55% -47.66% 84.20% 8.14%
Stocks
0.00% 0.00% 2.07% 88.36%
Preferred Stocks
0.00% -0.96% 1.04% 87.39%
Other
0.00% -13.14% 13.72% 86.89%
Convertible Bonds
0.00% 0.00% 1.44% 87.73%

Bond Sector Breakdown

Weighting Return Low Return High USMTX % Rank
Municipal
90.91% 15.02% 100.00% 92.03%
Cash & Equivalents
7.55% 0.00% 84.20% 8.59%
Government
1.54% 0.00% 84.56% 1.58%
Derivative
0.00% 0.00% 0.85% 87.79%
Securitized
0.00% 0.00% 6.51% 87.85%
Corporate
0.00% 0.00% 15.75% 88.41%

Bond Geographic Breakdown

Weighting Return Low Return High USMTX % Rank
US
92.45% 15.80% 141.34% 79.65%
Non US
0.00% 0.00% 28.07% 97.00%

USMTX - Expenses

Operational Fees

USMTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.50% 0.01% 16.95% 84.76%
Management Fee 0.15% 0.00% 1.10% 3.67%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.01% 0.47% 21.40%

Sales Fees

USMTX 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

USMTX 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.

USMTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 48.00% 0.00% 299.40% 83.92%

USMTX - Distributions

Dividend Yield Analysis

USMTX Category Low Category High USMTX % Rank
Dividend Yield 0.00% 0.00% 2.98% 88.25%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

USMTX Category Low Category High USMTX % Rank
Net Income Ratio 1.43% -1.65% 6.48% 89.74%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

USMTX - Fund Manager Analysis

Managers

Richard Taormina


Start Date

Tenure

Tenure Rank

May 31, 2016

4.59

4.6%

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).

James Ahn


Start Date

Tenure

Tenure Rank

May 31, 2016

4.59

4.6%

Mr. Ahn, Managing Director, is a portfolio manager in the U.S. Fixed Income Group. An employee of JPMIM and/or its affiliates since 1996 and a member of the portfolio management team since February 1999, Mr. Ahn is responsible for strategy formulation and trading short-term tax-aware fixed income strategies for U.S. institutional clients and the Private Bank.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 35.78 6.92 0.16