# Product Facts - JPMorgan Core Plus Bond Fund > Audience: country=us, language=en, role=adv. > Generated: 2026-10-02T23:34:14.520206882Z. ## Identity - **Fund Name**: JPMorgan Core Plus Bond Fund - **Share Class Name**: JPMorgan Core Plus Bond Fund-I - **Product Page**: [Product Page](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-core-plus-bond-fund-i-4812c0845) - **Ticker**: HLIPX - **CUSIP**: 4812C0845 - **Fund Type**: MUTUAL FUND - **Asset Class**: Fixed Income Taxable - **Fund Inception Date**: 03/05/1993 - **Share Class Inception Date**: 03/05/1993 - **Investment Objective**: The Fund seeks a high level of current income by investing primarily in a diversified portfolio of high-, medium- and low-grade debt securities. ## Fund Facts - **Ticker**: HLIPX - **CUSIP**: 4812C0845 - **Share Class Number**: 3122 - **Asset Class**: Fixed Income Taxable - **Fund Inception Date**: 03/05/1993 - **Share Class Inception Date**: 03/05/1993 - **ESG Approach**: Integrated [Disclosure 1] ## Fund Stats - **NAV As of 10/02/2026**: $6.88 - **NAV Change ($) As of 10/02/2026**: $-0.01 - **NAV Change (%) As of 10/02/2026**: -0.15% - **30 Day SEC Yield As of 08/31/2026**: 5.28% - **30 Day SEC Yield Unsubsidized As of 08/31/2026**: 5.12% - **12-Month Rolling Dividend Yield As of 08/31/2026**: 5.00% - **Yield to Maturity Gross As of 08/31/2026**: 6.23% [Disclosure 2] - **Yield to Maturity Net As of 08/31/2026**: 5.77% [Disclosure 2] - **Fund Assets As of 10/02/2026**: $25.02bn - **Number of Holdings As of 08/31/2026**: 2,842 - **YTD As of 10/02/2026**: -2.24% ## Portfolio Managers ### Kay Herr - **In the industry**: 32 years - **With J.P. Morgan**: 27 years - **Managing this fund**: 3 years ### Richard Figuly - **In the industry**: 33 years - **With J.P. Morgan**: 33 years - **Managing this fund**: 20 years ### Andrew Norelli - **In the industry**: 25 years - **With J.P. Morgan**: 14 years - **Managing this fund**: 12 years ### Thomas Hauser - **In the industry**: 33 years - **With J.P. Morgan**: 22 years - **Managing this fund**: 6 years ### Priya Misra - **In the industry**: 25 years - **With J.P. Morgan**: 3 years - **Managing this fund**: 2 years ### Vikas Pathani - **In the industry**: 22 years - **With J.P. Morgan**: 22 years - **Managing this fund**: 1 year ## Commentary **As of **: 06/30/2026 ### Topline Benchmark Bloomberg US Aggregate Index Markets In the second quarter, risk sentiment improved, as Middle East tensions continued to de-escalate, and oil prices retraced after peaking in April. Rates moved modestly higher. The 10-year U.S. Treasury yield ended the quarter at 4.47%, up from 4.31% at March-end, as markets weighed energy-driven inflation volatility, resilient growth and a Federal Reserve (Fed) that remained on hold but adopted a more hawkish tone. Helped Securitized credit (asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), non-agency mortgage-backed securities (MBS), high yield corporates, emerging markets (EM) debt and agency mortgages were positive contributors. Hurt Duration and curve positioning detracted from performance. Outlook Our base case remains continued expansion, with risks modestly skewed to the upside, as geopolitical tensions have eased, and energy has become less of an inflation impulse. We expect the Fed to remain on hold through year-end and see the 10-year U.S. Treasury trading in a 4.25%–4.625% range, while monitoring labor market conditions and the durability of AI-driven growth. ### Quarter in Review The JPMorgan Core Plus Bond Fund (I Class Shares) outperformed its benchmark, the Bloomberg US Aggregate Index, in the second quarter of 2026. The Fund's allocation to securitized credit was the primary driver of excess return, led by strong carry in ABS and CMBS. An out-of-benchmark allocation to high yield corporates added value, supported by healthy balance sheets, solid revenue and EBITDA growth, and broad-based spread tightening. Emerging markets debt contributed as spreads tightened, aided by resilient global growth and easing energy-related concerns later in the second quarter. Agency mortgages were a modest positive contributor, reflecting selective positioning across the coupon stack. An out-of-benchmark allocation to agency CMBS provided an additional tailwind to performance. Investment-grade credit performance was flat; an underweight versus the benchmark modestly detracted, partially offset by strong security selection. We continue to favor financials, where we see attractive carry opportunities. Duration and curve positioning detracted, as rates ended modestly higher. The Fund reduced its duration overweight, finishing June at 5.98 years versus 5.84 years for the benchmark. ### Looking Ahead We are cautiously optimistic and increased the probability of continued expansion (and reduced contraction risk), as Middle East de-escalation lowers the odds of another oil spike. However, uncertainty remains around the concentration of growth in AI-linked activity and the lagged effects of prior energy/tariff shocks. We expect the Fed to remain on hold through year-end and see the 10-year U.S. Treasury trading in a 4.25%–4.625% range. In the current environment, we continue to emphasize carry-oriented exposures, including securitized credit for diversified yield and structural enhancement, and selective corporate credit risk with an up-in-quality tilt, while maintaining a modest duration overweight as a hedge against risk assets. ## Documents - [Factsheet: JPMorgan Core Plus Bond Fund (I)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/taxable-fixed-income/FS-CPB-I.PDF) - [Fund Story: Core Plus Bond Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fund-story/STO-CPB.pdf) - [Commentary: Core Plus Bond Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/commentary/FC-CPB.PDF) - [JPMorgan Taxable Mutual Fund YTD Commentary](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/fund-announcement/jpmorgan-taxable-mutual-fund-ytd-commentary.pdf) - [Monthly Fund Update: Core Plus Bond Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/monthly-fund-update/Mutual-Fund-Detail-Page-Core-Plus-Bond.pdf) - [Summary Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/4812C0845/SP?site=JPMorganv3) - [Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/4812C0845/P?site=JPMorganv3) - [Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/4812C0845/AR?site=JPMorganv3) - [Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/4812C0845/NCSR?site=JPMorganv3) - [Semi-Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/4812C0845/SAR?site=JPMorganv3) - [Semi-Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/4812C0845/NCSRS?site=JPMorganv3) - [First Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/4812C0845/QH1?site=JPMorganv3) - [Third Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/4812C0845/QH3?site=JPMorganv3) - [Statement of Additional Information](https://am.jpmorgan.com/JPMorgan/TVT/4812C0845/S?site=JPMorganv3) - [Annual Report Of Proxy Voting](https://am.jpmorgan.com/JPMorgan/TVT/4812C0845/NPX?site=JPMorganv3) ## Disclosures 1. This Fund considers financially material environmental, social and governance ("ESG") factors as part of the Fund's investment process. In actively managed assets deemed by J.P. Morgan Asset Management to be ESG integrated under our governance process, we systematically assess financially material ESG factors amongst other factors in our investment decisions with the goals of managing risk and improving long-term returns. ESG integration does not change a strategy's investment objective, exclude specific types of companies or constrain a strategy's investable universe. 2. Yield to maturity (YTM): is the estimated total return anticipated on a bond or other obligation if the obligation is held until maturity and if all payments are made as scheduled. Gross YTM is calculated by averaging the YTM of each obligation held in the portfolio (including, if any, convertible bonds, preferred securities and derivatives) on a market weighted basis without the deduction of fees and expenses. Unlike SEC Yield, Gross YTM is a representation of the estimated total return of the bonds and other obligations held in the portfolio as of the month-end shown, whereas SEC Yield approximates the current income generated by the obligations held in the portfolio over a historical 30-day period after the deduction of fees and expenses. Unlike SEC Yield, Gross YTM takes into account derivatives. Gross YTM and SEC Yield are not a guarantee nor necessarily indicative of future performance or income generation. Net YTM is calculated in the same way as Gross YTM except that Net YTM reflects the deduction of fund-level fees, expenses and, if applicable, hedging costs. Net YTM is not a guarantee nor necessarily indicative of future performance or income generation. Certain other funds may calculate YTM differently (e.g., certain other funds may include only certain types of derivatives in the calculation of YTM, whereas the YTM calculation for this fund includes all types of derivatives), and such differences could significantly impact the calculation of YTM, and therefore decrease comparability between YTM for this fund and YTM for other funds.