NAV
As of 04/17/2025
$9.56
Change$0.03
YTD
As of 04/17/2025
at NAV-0.87%
with Sales Charge-5.33%
FUND ASSETS
As of 04/17/2025
$7.85bn
Fund Facts
TickerJNBAX
CUSIP4812A3288
Share Class Number3041
Asset ClassAsset Allocation
Fund Inception Date05/31/2007
Share Class Inception Date05/31/2007
ESG Approach Integrated
Fund Stats
Fund Assets
As of 04/17/2025$7.85bn
As of 04/17/2025$7.85bn
Number of Holdings
As of 03/31/20252,743
As of 03/31/20252,743
30 Day SEC Yield
As of 03/31/20255.48%
As of 03/31/20255.48%
30 Day SEC Yield Unsubsidized
As of 03/31/20255.17%
As of 03/31/20255.17%
12-Month Rolling Dividend Yield
As of 03/31/20255.44%
As of 03/31/20255.44%
Minimum Investments
IRA
Minimum Investment$1,000
Subsequent Investment$50
Regular
Minimum Investment$1,000
Subsequent Investment$50
Designed to pursue attractive yield opportunities worldwide to increase income and total return potential.
- Focuses on generating income while pursuing total return using a global, flexible approach
- Managed by experienced Multi-Asset Solutions team with full access to insights from J.P. Morgan's asset class specialists
- Pursues highest conviction ideas for income by investing across global equities, fixed income and opportunistic asset classes while also managing risk
Portfolio Managers
Portfolio Manager
28 years
In the industry
28 years
With J.P. Morgan
17 years
Managing this fund
Portfolio Manager
17 years
In the industry
17 years
With J.P. Morgan
10 years
Managing this fund
Portfolio Manager
47 years
In the industry
19 years
With J.P. Morgan
17 years
Managing this fund
Portfolio Manager
33 years
In the industry
5 years
With J.P. Morgan
4 years
Managing this fund
Morningstar Ratings: Moderately Conservative Allocation
As of 03/31/2025
Analyst Rating Overall Morningstar RatingTM for a fund is derived from a weighted average of the performanc
Lipper Rankings: Flexible Portfolio Funds
As of 03/31/2025
The ranking information is provided by Lipper Analytical Services. Past performance is no guar
Fund Facts
TickerJNBAX
CUSIP4812A3288
Share Class Number3041
Asset ClassAsset Allocation
Fund Inception Date05/31/2007
Share Class Inception Date05/31/2007
ESG Approach Integrated
Fund Stats
Fund Assets
As of 04/17/2025$7.85bn
As of 04/17/2025$7.85bn
Number of Holdings
As of 03/31/20252,743
As of 03/31/20252,743
30 Day SEC Yield
As of 03/31/20255.48%
As of 03/31/20255.48%
30 Day SEC Yield Unsubsidized
As of 03/31/20255.17%
As of 03/31/20255.17%
12-Month Rolling Dividend Yield
As of 03/31/20255.44%
As of 03/31/20255.44%
Minimum Investments
IRA
Minimum Investment$1,000
Subsequent Investment$50
Regular
Minimum Investment$1,000
Subsequent Investment$50
Performance
Monthly
As of 03/31/2025
Cumulative
As of 03/31/2025
Performance - MONTHLY
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since inception* | |
|---|---|---|---|---|---|---|---|---|---|
| At NAV | -1.56% | 1.51% | 1.51% | 6.20% | 2.67% | 6.98% | 4.33% | 5.61% | 4.97% |
| With 4.50% max. sales charge | -5.97% | -3.05% | -3.05% | 1.42% | 1.10% | 6.00% | 3.85% | 5.29% | 4.70% |
| 60% MSCI World Index (net total return) / 40% Bloomberg U.S. Aggregate Index | -2.66% | 0.06% | 0.06% | 6.25% | 4.88% | 9.45% | 6.46% | 6.98% | 5.52% |
Performance - CUMULATIVE
| 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since inception* | |
|---|---|---|---|---|---|---|
| At NAV | 6.20% | 8.22% | 40.12% | 52.82% | 126.78% | 137.52% |
| With 4.50% max. sales charge | 1.42% | 3.33% | 33.85% | 45.92% | 116.56% | 126.86% |
Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. Call 1-800-480-4111 for most recent month-end performance.
*Fund performance inception: 5/31/2007
The benchmark shown represents the Fund's performance benchmark, which is different from the Fund's regulatory benchmark. The Fund's regulatory benchmark is the MSCI World Index (net total return) and is included in the Fund's prospectus and/or shareholder report. This document can be obtained here.
Mutual funds have fees that reduce their performance: indexes do not. You cannot invest directly in an index.
Fees
Gross Expenses
1.07%
Net Expenses
0.75%
The Fund's adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding acquired fund fees and expenses, dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation and extraordinary expenses) exceed 0.750% of the average daily net assets. The Fund may invest in one or more money market funds advised by the adviser or its affiliates (affiliated money market funds). The Fund's adviser has contractually agreed to waive fees and/or reimburse expenses in an amount sufficient to offset the fees and expenses of the affiliated money market funds incurred by the Fund because of the Fund's investment in such money market funds. This waiver is in effect through 2/28/2026, at which time the adviser and/or its affiliates will determine whether to renew or revise it. The difference between net and gross fees includes all applicable fee waivers and expense reimbursements.
Dividend Schedule
Capital Gains Schedule
Topline
As of 03/31/2025
Benchmark 60% MSCI World Index/40% Bloomberg US Aggregate Bond Index
Markets March saw market volatility due to uncertainties in U.S. trade policy, its effects on growth and inflation, and geopolitical tensions, which shook investor confidence. Trump confirmed a 25% tariff on imports from Canada and Mexico and a 10% increase on Chinese goods. Equity markets suffered declines while bonds provided some protection. The MSCI World Index returned -4.45% for the month. The Bloomberg US Aggregate Bond Index returned 0.04%. The 10-year U.S. Treasury yield finished at 4.21%.
Helped Allocations to emerging markets equities helped as non-U.S. markets outperformed the U.S.
Hurt Allocations to U.S. equities hurt, as markets were volatile and uncertainty around tariffs remained.
Outlook Investors are more focused on downside risks from tariff uncertainty than pro-growth policy. Recent performance highlights regional diversification, while positive fixed-income returns show that bonds provide ballast. With U.S. tax and tariff policy impacts on growth uncertain, we remain diversified to protect against future volatility.
Month in Review
As of 03/31/2025
- The JPMorgan Income Builder Fund (I Class Shares) outperformed the composite benchmark, the 60% MSCI World Index/40% Bloomberg US Aggregate Bond Index, for the month ended March 31, 2025.
- In the U.S., business activity growth was concentrated in the services sector as manufacturing fell back into decline. The front-running of tariffs had temporarily boosted factory output in the first two months of the year. Consumer sentiment continued to deteriorate due to inflation and growth concerns amid economic policy developments.
- The March Federal Open Market Committee (FOMC) meeting reiterated that the Federal Reserve (Fed) is in no hurry to cut rates. Given elevated uncertainty, the Fed decided to take no action on interest rates. Fed Chair Jerome Powell did, however, leave the door open to future rate cuts as they are monitoring potential weakness in the growth and labor markets.
- The U.S. administration announced new tariffs on steel, aluminum and autos, while shifting expectations around the severity of pending tariff announcements due on April 2nd drove swings in market sentiment. Investors are attentive to any signs that uncertainty is slowing U.S. activity, such as the recent fall in capital expenditure (CapEx) intentions evidenced by small business surveys.
- Europe gained on broad fiscal tailwinds, including several spending plans. Germany’s proposals to ease off the debt brake for defense spending, as well as a new €500bn infrastructure spending plan, shocked markets in March. The European Central Bank (ECB) continued to normalize policy with Eurozone interest rates being cut twice during the quarter.
Looking Ahead
As of 03/31/2025
- We moderated our constructive stance on equities and decreased our overweight given the uncertainty around trade policies and the implications for growth. We expect short-term volatility in markets and remain diversified in our regional allocation.
- High yield continues to be a meaningful allocation. Although spreads are tight, fundamentals remain supportive, and all-in yields are attractive. A challenging economic environment would likely impact the asset class, but prevailing yields provide a decent carry over core bonds. Elsewhere in fixed income, we maintain ballast and stability by holding government-bond duration.
- We maintain an active stance in our portfolio, as we see growth cooling but not cracking and believe that the Fed and other central banks have ample ammunition to support the global economy. Trade wars, a pickup in inflation or overly restrictive monetary policy present risks to our view. But on balance, we lean positively through credit today and would look to add equity risk should the policy trajectory become clearer, and the focus moves toward the administration’s tax and deregulation agenda.
Performance
Monthly
As of 03/31/2025
Cumulative
As of 03/31/2025
Performance - MONTHLY
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since inception* | |
|---|---|---|---|---|---|---|---|---|---|
| At NAV | -1.56% | 1.51% | 1.51% | 6.20% | 2.67% | 6.98% | 4.33% | 5.61% | 4.97% |
| With 4.50% max. sales charge | -5.97% | -3.05% | -3.05% | 1.42% | 1.10% | 6.00% | 3.85% | 5.29% | 4.70% |
| 60% MSCI World Index (net total return) / 40% Bloomberg U.S. Aggregate Index | -2.66% | 0.06% | 0.06% | 6.25% | 4.88% | 9.45% | 6.46% | 6.98% | 5.52% |
Performance - CUMULATIVE
| 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since inception* | |
|---|---|---|---|---|---|---|
| At NAV | 6.20% | 8.22% | 40.12% | 52.82% | 126.78% | 137.52% |
| With 4.50% max. sales charge | 1.42% | 3.33% | 33.85% | 45.92% | 116.56% | 126.86% |
Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. Call 1-800-480-4111 for most recent month-end performance.
*Fund performance inception: 5/31/2007
The benchmark shown represents the Fund's performance benchmark, which is different from the Fund's regulatory benchmark. The Fund's regulatory benchmark is the MSCI World Index (net total return) and is included in the Fund's prospectus and/or shareholder report. This document can be obtained here.
Mutual funds have fees that reduce their performance: indexes do not. You cannot invest directly in an index.
Documents
Performance quoted is past performance and is no guarantee of future results. Investment returns and principal value will fluctuate, so shares, when sold, may be worth more or less than original cost. Current performance may be higher or lower than returns shown. Call 1-800-480-4111 for most recent month-end performance.
Investments in bonds and other debt securities will change in value based on changes in interest rates. If rates rise, the value of these inv