# Product Facts - JPMorgan Income Fund > Audience: country=us, language=en, role=adv. > Generated: 2026-09-30T23:20:20.484552641Z. ## Identity - **Fund Name**: JPMorgan Income Fund - **Share Class Name**: JPMorgan Income Fund-I - **Product Page**: [Product Page](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-income-fund-i-46637k224) - **Ticker**: JMSIX - **CUSIP**: 46637K224 - **Fund Type**: MUTUAL FUND - **Asset Class**: Fixed Income Taxable - **Fund Inception Date**: 06/02/2014 - **Share Class Inception Date**: 06/02/2014 - **Investment Objective**: The Fund seeks to provide income with a secondary objective of capital appreciation. ## Fund Facts - **Ticker**: JMSIX - **CUSIP**: 46637K224 - **Share Class Number**: 3491 - **Asset Class**: Fixed Income Taxable - **Fund Inception Date**: 06/02/2014 - **Share Class Inception Date**: 06/02/2014 - **ESG Approach**: Integrated [Disclosure 1] ## Fund Stats - **NAV As of 09/29/2026**: $8.27 - **NAV Change ($) As of 09/29/2026**: $0.00 - **NAV Change (%) As of 09/29/2026**: 0.00% - **30 Day SEC Yield As of 08/31/2026**: 6.01% - **30 Day SEC Yield Unsubsidized As of 08/31/2026**: 5.78% - **12-Month Rolling Dividend Yield As of 08/31/2026**: 5.97% - **Yield to Maturity Gross As of 08/31/2026**: 7.39% [Disclosure 2] - **Yield to Maturity Net As of 08/31/2026**: 6.99% [Disclosure 2] - **Daily Distribution Rate As of 09/29/2026**: 0.001376 - **Fund Assets As of 09/29/2026**: $17.03bn - **Number of Holdings As of 08/31/2026**: 2,783 - **YTD As of 09/29/2026**: 0.40% ## Portfolio Managers ### Andrew Norelli - **In the industry**: 25 years - **With J.P. Morgan**: 14 years - **Managing this fund**: 12 years ### Andrew Headley - **In the industry**: 32 years - **With J.P. Morgan**: 21 years - **Managing this fund**: 9 years ### Thomas Hauser - **In the industry**: 33 years - **With J.P. Morgan**: 22 years - **Managing this fund**: 6 years ## Commentary **As of **: 06/30/2026 ### Topline Benchmark Bloomberg US Aggregate Index Markets In the second quarter of 2026, risk sentiment improved as the war in the Middle East began to de-escalate, leading to positive returns from spread sectors while rates continued their sell-off. Helped Securitized products, emerging-markets debt and corporate credit contributed to returns over the quarter. Hurt The Fund’s duration and currency positioning detracted from returns. Outlook Although the ongoing conflict between the U.S./Israel and Iran persists, the probability of a sustained period of higher oil prices has decreased. Outside of the Middle East conflict, the AI build-out is a focal point, as the capital to build data centers and surrounding infrastructure is immense. Given energy prices have moderated, and the AI build-out continues, the Fund’s base case continues to remain in a positive growth environment. ### Quarter in Review The JPMorgan Income Fund (I Class Shares) outperformed the benchmark, the Bloomberg US Aggregate Index, for the quarter ended June 30, 2026. Securitized products were the largest contributor to returns, with all subsectors contributing. The Fund increased its allocations to agency MBS from 29% to 33% and non-agency MBS from 12% to 15%. The Fund maintained its allocations to CMBS at 18% and ABS at 12%. High-yield corporates contributed to returns as spreads tightened.Fundamentals remain constructive, with strong revenue and earnings before interest, taxes, depreciation and amortization growth, as issuers benefited from a solid consumer backdrop. The Fund decreased its allocation to high yield from 11% to 10% and maintained its exposure to investment-grade credit at 3.0%. Emerging-markets debt contributed to returns, as energy risks look less severe than initially feared, and sovereign fundamentals remain solid. The Fund maintained its allocation at 5.0%. The Fund’s duration and currency positioning were the only detractors from performance. The 10-year yield moved higher from 4.32% to 4.47%. The Fund continues to dynamically adjust its duration and yield-curve positioning, ending June with an overall Fund duration of 2.7 years. The Fund maintained its non-dollar exposure at 2.9%, where the Fund continues to hold a basket of the team’s high-conviction non-dollar currencies. ### Looking Ahead Although the ongoing conflict between the U.S./Israel and Iran persists, the probability of a sustained period of higher oil prices has decreased. Outside of the Middle East conflict, the AI build-out is a focal point, as the capital to build data centers and surrounding infrastructure is immense. Given energy prices have moderated, and the AI build-out continues, the Fund’s base case continues to remain in a positive growth environment. While policymakers and markets benefit from an extended soft landing, uncertainties remain around the duration and impact of the U.S./Israel and Iran conflict, U.S. tariff policy, strength of the U.S. labor market and the full impact of fiscal measures. However, resilient businesses and households continue to create a supportive environment for bond markets. Given this backdrop, the Fund is focused on allocating toward sectors where we continue to have a positive fundamental outlook and that present attractive yield characteristics for the potential risks. We believe the Fund’s current duration positioning and diversified allocations to securitized investments, higher-quality, high-yield corporate and select emerging-markets debt look attractive amid the current environment. ## Documents - [Factsheet: JPMorgan Income Fund (I)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/taxable-fixed-income/FS-I-I.PDF) - [Fund Story: Income Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fund-story/STO-INC.pdf) - [Commentary: Income Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/commentary/FC-I.PDF) - [Attribution - JPM Income Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/attribution-income-fund.pdf) - [Supplemental Data Sheet - Income fund (Monthly)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/mfdp/MFDP-I-2.PDF) - [Summary Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/46637K224/SP?site=JPMorganv3) - [Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/46637K224/P?site=JPMorganv3) - [Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/46637K224/AR?site=JPMorganv3) - [Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/46637K224/NCSR?site=JPMorganv3) - [Semi-Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/46637K224/SAR?site=JPMorganv3) - [Semi-Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/46637K224/NCSRS?site=JPMorganv3) - [First Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/46637K224/QH1?site=JPMorganv3) - [Third Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/46637K224/QH3?site=JPMorganv3) - [Statement of Additional Information](https://am.jpmorgan.com/JPMorgan/TVT/46637K224/S?site=JPMorganv3) - [Annual Report Of Proxy Voting](https://am.jpmorgan.com/JPMorgan/TVT/46637K224/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.