# Product Snapshot - JPMorgan Research Market Neutral Fund > Audience: country=us, language=en, role=adv. > Generated: 2026-10-18T04:47:54.576625782Z. ## Identity - **Fund Name**: JPMorgan Research Market Neutral Fund - **Share Class Name**: JPMorgan Research Market Neutral Fund-A - **Product Page**: [Product Page](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-research-market-neutral-fund-a-4812a1670) - **Ticker Symbol**: JMNAX - **CUSIP**: 4812A1670 - **Fund Type**: MUTUAL FUND - **Asset Class**: Specialty ## Overview ### Designed to provide long-term capital appreciation from a broadly diversified portfolio of U.S. stocks while neutralizing the general risks associated with stock market investing. Buys stocks (long) with attractive characteristics and sells stocks (short) with unattractive characteristics~~Derives long and short insights from J.P. Morgan's deeply resourced, research-driven U.S. equity platform~~Aims to have low correlation and low sensitivity to traditional stock markets ## Fund Facts - **Ticker**: JMNAX - **CUSIP**: 4812A1670 - **Share Class Number**: 1118 - **Asset Class**: Specialty - **Fund Inception Date**: 12/31/1998 - **Share Class Inception Date**: 02/28/2002 - **ESG Approach**: Integrated [Disclosure 1] ## Fund Stats - **NAV As of 10/16/2026**: $13.96 - **NAV Change ($) As of 10/16/2026**: $-0.04 - **NAV Change (%) As of 10/16/2026**: -0.29% - **Fund Assets As of 10/16/2026**: $286.24mn - **Number of Holdings As of 09/30/2026**: 317 - **YTD As of 10/16/2026**: -4.12% - **YTD (Total Return w/Load) As of 10/16/2026**: -9.17% ## Fees & Charges ### Fees - **Gross Expenses**: 2.87% - **Net Expenses**: 2.62% [Disclosure 2] ## Investment Terms ### Minimum Investments #### IRA - **Minimum Investment**: $1,000 - **Subsequent Investment**: $50 #### Regular - **Minimum Investment**: $1,000 - **Subsequent Investment**: $50 ## Portfolio Managers ### Susan Bao - **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/susan-bao/) - **In the industry**: 29 years - **With J.P. Morgan**: 29 years - **Managing this fund**: 1 year ### Timothy Woodhouse - **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/timothy-woodhouse/) - **In the industry**: 18 years - **With J.P. Morgan**: 18 years - **Managing this fund**: 1 year ### Andrew Stern - **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/andrew-stern/) - **In the industry**: 18 years - **With J.P. Morgan**: 18 years - **Managing this fund**: 1 year ### David Small - **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/david-small/) - **In the industry**: 26 years - **With J.P. Morgan**: 21 years - **Managing this fund**: 2 years ### Danielle Hines - **Biography**: [Biography](https://am.jpmorgan.com/us/en/asset-management/adv/bios/danielle-hines/) - **In the industry**: 17 years - **With J.P. Morgan**: 17 years - **Managing this fund**: 2 years ## Ratings ### Morningstar Overview Ratings - **Category: **: Equity Market Neutral - **As of **: 09/30/2026 - **Overall**: 3 of 5 stars - **Funds in Category**: 33 Funds in Category - **3 Year**: 3 of 5 stars - **Funds in Category**: 33 Funds in Category - **5 Year**: 3 of 5 stars - **Funds in Category**: 31 Funds in Category - **10 Year**: 3 of 5 stars - **Funds in Category**: 29 Funds in Category [Disclosure 3] ### Morningstar Overview Ranking - **Category: **: Equity Market Neutral - **As of **: 09/30/2026 - **1 Year**: Rank 39 - **Funds in Category**: 41 Funds in Category - **Group Percentile**: 91% - **3 Year**: Rank 26 - **Funds in Category**: 33 Funds in Category - **Group Percentile**: 76% - **5 Year**: Rank 16 - **Funds in Category**: 31 Funds in Category - **Group Percentile**: 61% - **10 Year**: Rank 14 - **Funds in Category**: 29 Funds in Category - **Group Percentile**: 49% [Disclosure 4] ### Lipper Rankings: Alternative Equity Market Neutral Funds - **As of**: 09/30/2026 - **1 Year**: Rank 40 - **Funds in Category**: 42 Funds in Category - **Group Percentile**: 94% - **3 Year**: Rank 27 - **Funds in Category**: 33 Funds in Category - **Group Percentile**: 80% - **5 Year**: Rank 12 - **Funds in Category**: 29 Funds in Category - **Group Percentile**: 40% - **10 Year**: Rank 10 - **Funds in Category**: 22 Funds in Category - **Group Percentile**: 44% [Disclosure 5] ## Portfolio ### Portfolio Stats - **Number of Holdings** (As of 09/30/2026): 317 - **Fund Assets** (As of 09/30/2026): $336.52mn - **Turnover Ratio**: Turnover Ratio - Long (Trailing 12 month) (10/31/2025): 144.00%; Turnover Ratio - Short (Trailing 12 month) (10/31/2025): 284.00% - **Wtd. Avg. Market Cap**: $155.14bn - **Median Market Cap**: $53.22bn - **P/B Ratio**: -33.82 [Disclosure 6] - **P/E Ratio (1 yr. forecast)**: -263.10 [Disclosure 7] - **P/E Ratio (1 yr. trailing)**: -311.44 [Disclosure 8] ### Top 10 Holdings _As of 09/30/2026_ | Holding | Weight | | --- | ---: | | Mastercard, Inc., Class A | 13.7% | | Aon plc, Class A | 10.6% | | Entergy Corp. | 9.4% | | Meta Platforms, Inc., Class A | 9.0% | | Corpay, Inc. | 8.8% | | S&P Global, Inc. | 8.7% | | NextEra Energy, Inc. | 8.4% | | American Water Works Co., Inc. | 7.8% | | Burlington Stores, Inc. | 7.6% | | Sempra | 7.6% | | Total of top 10 | 91.6% | [Disclosure 9] ### Risk Measures _As of 09/30/2026_ | Risk Measures | Risk Measures | | --- | ---: | | Alpha | -1.71 | | Beta | 6.12 | | Sharpe Ratio | 0.46 | | Standard Deviation | 4.03 | | Tracking Error | 3.95 | | R-squared | 12.00 | [Disclosure 10] ## Documents - [Factsheet: JPMorgan Research Market Neutral Fund (A)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/specialty/FS-RMN-A.PDF) - [Comentary: Research Market Neutral Fund](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/commentary/FC-RMN.PDF) - [Supplemental Data Sheet - Research Market Neutral Fund (Quarterly)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/mfdp/MFDP-RMN-1.PDF) - [Supplemental Data Sheet - Research Market Neutral Fund (Monthly)](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/supplemental/mfdp/MFDP-RMN-2.PDF) - [Summary Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/4812A1670/SP?site=JPMorganv3) - [Prospectus](https://am.jpmorgan.com/JPMorgan/TVT/4812A1670/P?site=JPMorganv3) - [Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/4812A1670/AR?site=JPMorganv3) - [Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/4812A1670/NCSR?site=JPMorganv3) - [Semi-Annual Report to Shareholders](https://am.jpmorgan.com/JPMorgan/TVT/4812A1670/SAR?site=JPMorganv3) - [Semi-Annual Financial Statements and Other Information](https://am.jpmorgan.com/JPMorgan/TVT/4812A1670/NCSRS?site=JPMorganv3) - [First Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/4812A1670/QH1?site=JPMorganv3) - [Third Quarter Holding](https://am.jpmorgan.com/JPMorgan/TVT/4812A1670/QH3?site=JPMorganv3) - [Statement of Additional Information](https://am.jpmorgan.com/JPMorgan/TVT/4812A1670/S?site=JPMorganv3) - [Annual Report Of Proxy Voting](https://am.jpmorgan.com/JPMorgan/TVT/4812A1670/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. 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 0.950% 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. These waivers are in effect through 2/28/2027, at which time the adviser will determine whether to renew or revise it. The difference between net and gross fees includes all applicable fee waivers and expense reimbursements. Net expenses may include short dividend expense. See prospectus for details. 3. Overall Morningstar RatingTM for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. 4. The ranking information is provided by Morningstar. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes within their respective Morningstar category. Different share classes may have different rankings. 5. The ranking information is provided by Lipper Analytical Services. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes within their respective Lipper category. Different share classes may have different rankings. 6. P/B ratio is the relationship between a stock's price and the book value of that stock. 7. The number by which earnings per share is multiplied to estimate a stock's value based on the forecasted earnings for the next 12 months. 8. The number by which earnings per share is multiplied to estimate a stock's value based on the actual earnings over the last 12 months. 9. The top 10 holdings listed exclude cash and money markets. Holdings are subject to change. The holdings listed should not be considered recommendations to purchase or sell a particular security. Each individual security is calculated as a percentage of the aggregate market value of the securities held in the Fund and does not include the use of derivative positions, where applicable. 10. All risk measures are based on a 3 year time period. Risk measures are calculated based upon the broad-based index as stated in the prospectus.